Time to explain some details aboot trading in banks so far.. I'll start by telling a wee story, it's aboot the Bank of Ireland.. Spotted it one day whilst searching online, I decided to play.. Monday morning, can't remember the exact stardate but it was April.. I resolved to invest, but noticed on stockmarket opening that it was diving down, fast (was it a treeshake?), and in an hour it had gone from 80cents to 64cents.. I watched, I waited, I sipped a cold beer (just finished a nightshift, deserve it), and hey, the price began to tick up.. Now folks, I acted quick, and bish bosh bash by 9am had purchased a bundle of shares worth roughly ten grand.. Suffered a loss immediately but, coz of commission, and the bid offer spread, and also pound to euro currency discrepancy and it ticked doon a bit as well and shit, before I could blink I was hundreds in the red, so, I rubbed my eyes and went to bed zzzzz.. Later in the afternoon I awoke to a £1500 paper-profit, and before the close of market took a real profit of a thousand pound.. £1000 in a day wey hey! Bought back in on Wednesday whilst off work, and the price promptly went doon, soon was 20% in the red doh, so again I watched, waited, till I was almost even steven then sold half my holding, 5k worth, chicken shit I am but wait, another week and It's up a bit, and I see I can rake in another £500 so I sell!
One thousand five hundred pounds profit in 10days, great aye.! No., not so fast., Coz if I had held those shares I first bought at 66cents, one month after selling them, the shares had rallied to just over two euro's., a 250% gain., and 10,000 plus 250% equals., 35,000.!
Now., if I hadn't chickened-oot, if I'd held on if, I'd trusted my gut, I would've banked a profit of £25,000 give or take if, I'd sold in the last starweek of May, but hey, I shrugged my shoulders, sighed a wee bitty and said "oh well captain, remember it, remember it, remember it, and fucking learn from it"...
Hold on for the gains sir capi-tan.., and follow yoor first instincts!
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