Yesterday I placed a limit order for Western and Oriental (WEST) for 1.8p and despite the fact that there were no trades all day, my order still wasn't filled. It remained at 1.75- 1.85 all day, so just before close of business, I cancelled the order and bought VOG shares instead, @6.62p. I decided that I would keep these for ages and sell my ones held in HSBC France when it hit 10p. Imagine my surprise when I received an RNS this morning saying that VOG were issuing a load more shares to raise £10.8M. The net result would be a fall in sp!! During the day the sp fell to 5.4p so I lost money on paper. Still I am confident that it will go up so just a case of waiting. If I had stuck with my order for WEST I could still have cancelled the next day and then bought more VOG shares but at a cheaper price. I MUST learn to be more patient.
Then I was interested to see that Sunrise Resources SRES had shot up to over 3p. I sold mine at 2.1p and I was happy with the profit BUT if I had more patience I would have more than doubled my money with lots more to go. I am not dissatisfied with my profit but it just shows that patience is the number 1 requirement for share trading.
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