Yesterday I posted a trade worth $100/minute. Today’s first trade beats that handsomely. Here’s what happened on GRUB:
That’s well over four grand in well under ten minutes. As I said yesterday, trades like that don’t come along every day. When they do happen, we need to treat them like any other trade. A glance at the scale shows that this stock was extremely volatile prior to my entry, trading relatively massive range already. So all the signs were there that this could be a big winner (it had already travelled more than $5).
It’s easy to be intimidated by that kind of volatility, but as long as we remember that the same rules apply whether the stock has moved $5 or 50 cents, we shouldn’t go too far wrong. Tight money management keeps us from huge losses. Had this not worked right away, I would have been out in a heartbeat. Given the speed it moved, that might have meant taking a few cents loss in the time my exit order went through, but that’s an acceptable risk given the potential reward.
The other trade I’m posting for today was much more ‘normal’. This was BBT:
Much more sedate, the sort of thing we do see every day on the NASDAQ.