Last time I posted I told you a little bit about why I was doing it, what my strategy was going to be, what my first purchases were and why I chose them. If you read it and know anything at all about share dealing you’ll have spotted straight away I hadn’t got the first clue what I was doing or why. It’ll come as a surprise then that I still have my pants and shirt on and I actually made a profit.
Capita was my first share which I bought for 503.82p on the 26th Jan 17. This one kinda bumbled along a bit not really going anywhere so I sold it again on the 15th Feb for the princely sum of 519.05p. Not earth shattering by any means but it covered the buying and selling costs with a small profit of £13.52 or 1.33%. Way better than anything available from banks but I won’t be dining out on the strength of it.
Jersey Oil and Gas bought for 141p on the other hand faired a little better, I bought it on the same day as Capita and was amazed to see it rise so quickly that on the 14th Feb I bought another 500 shares for 190p I then sat on these 1200 shares for a week or so watching them rise until the 20th Feb when they started to fall. Now bearing in mind I’m a total novice I started to worry so when they fell again the next day I panicked and sold the lot for 201.07p. Not exactly a disaster as I still made £448.33 on them but guess what happened the next day? Yip they started going back up again, quickly reaching 260p before slowly falling back to 213p. Then on March 23rd the company got good news that StatOil has agreed to drill for them in August and the shares soared again up to a peak of 336p. When I saw them rising I decided to jump in again and managed to grab some on the 3rd Apr for 297p then a second batch for 308p. At close of play 4th Apr they had actually fallen again to 291.5p but I’m confident they will rise again and continue to rise until close to the date of drilling sometime in August. I’m anticipating this share will fluctuate a lot so am going to have a go at selling and buying with limit orders to try and make a few quid. We’ll see how that goes and report back.
I have to admit that picking JOG was pure beginners luck. My strategy from the start was based on the simple premise that a rising share is more likely to rise than a falling share, so I watched for rising shares, spotted JOG and bought it without really knowing anything about the company. The best thing about starting with a winner was I didn’t have to worry so much about the following purchases as I had a nice buffer to play with.
Next time I’ll talk about the other shares I bought, I might even admit to the disastrous one that lost me approx £200.