Paper losses & gains

I saw this on Trading Quotes :

There is no such thing as a paper loss. A paper loss is a very real loss.

But the converse - paper gains? It isn’t necessarily a real gain - just read this from My 1st Million at 33. Just imagine this happening to you :

Since the option strike price only used the market closing price, on that single day my fortune changed by more than one million pre-tax dollars for the worse.

At the end of the day, “the one that got away” is good only for a story. Dreams are good, but root your plans in reality.

Written by 2cworth on May 20th, 2006 with no comments.
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