This was my first trade and I certainly stuffed it up. In my mind I thought that the consolidation would be bad for the share price in the short term but failed to sell when I was up 15-20% on my trading parcel of Kentor Gold.
Instead I felt that news from Andash must certainly be coming and that the reward for holding would far outweigh the risk. Unfortunately this proved incorrect and instead of selling at 12.5 or 13 cents (original purchase price of 11 cents) I continued to hold.
The stock closed at $1.07 (consolidated 1 for 10) on Friday so I am now down approx. 3% on my trading parcel. Obviously I could have sold and bought more now.
I’ll strike this one down as a learning experience and will remind myself in the future that when I am trading the idea is to take advantage of the SHORT TERM moves, not necessarily wait for news that could be weeks or months away.
I continue to hold the trading parcel as I believe in the fundamentals of the company and as I stated when I started my trading experiment I only trade in stocks that I am happy to hold long term any way.
The only other thing I am concerned about is the fact that I am going away to Europe for four weeks in March and won’t be able to monitor my stocks as much while I am over there.
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