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Trading Secrets: Killer trading strategies to beat the markets and finally achieve the success you deserve, 3rd Edition by Louise Bedford

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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!

Me: Oh.

Sharemarket novice: I’m going to become a full-time trader!

Me: Oh.

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 ...

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