Smash and Grab Success

Don’t worry, I haven’t embarked on a career in crime, but  am of course referring to my buy of the the Royal Bank of Scotland.  Today my Limit order executed and I sold at 599.5p but also have a chunky 2% dividend in the post (so a total of 610p or there abouts).

 In total this amounts to a quick 11% profit, however  I took the opportunity to offload some of the stock that I bought at 610p (so no profit there) so as to scale down my position as I’m slightly spooked by the market volatility.  I remember readed that prior to stock market crashes market are always more volatile and so have scaled back my exposure accordingly.

So, the cumulative profit in this sale is 8% which isn’t back for a weeks work.  Ok, a wee bit more.

I also leared a lesson in that I thought I had missed my chance as the Stock temporarily jumed last Friday when the FED cut the rate it lends to banks but quickly fell back.  The lesson:  always set  a limit order to see at you required price, don’t rely on checking on yahoo finance then buying when you see the price you want as it may already be too late!