Chapter 17: It’s TattsLotto time
Sharemarket novice: I just made a zillion per cent on the new float ‘Dot Gone Pty Ltd’ and I’m so excited!
Sharemarket novice: I’m going to become a full-time trader!
Sharemarket novice: I’m going to resign from my job on Monday morning.
Me: Do you realise that fewer than 10 per cent of traders make enough money to support themselves?
Sharemarket novice: Oh.
In this chapter, you will learn that:
• It is essential to plan in advance how you will define and handle a windfall profit situation.
• You must make sure you reward yourself by taking part of your winning position and doing something nice to spoil yourself. Ensure your reward is proportionate to the size of your profit.
• Guarding yourself ...