โ What would you do if there is a sudden marketwide crash? โ What would you do, what would be your reaction if everything suddenly starts going down, no warning?
โ Are you prepared?
What if a sudden crash does come, it does happen but you know that everything will be fine because it is only temporary and we know the market moves in waves...
โ Are you prepared to wait 3-9 days? โ Are you prepared to wait for 6 weeks or 2 months?
There is no action to take if you bought low, near support. There is no action to take if you've been selling on the way up.
There is nothing to do if you plan ahead...
โ What if you don't have a plan? It can lead to mistakes.
Forget what is happening or what will happen or what can happen... Just prepare!
Think and consider multiple different scenarios and see how this would affect your portfolio and if you would sell everything or hold long.
Consider selling high up at resistance, doesn't need to be 100% nor 80%, maybe just a little bit, whatever you think is best for you based on your trading style and your tolerance risk.
It doesn't matter how much higher the market goes, the main strategy remains the same forever โWe sell high and buy low.
โ Are you prepared? โ What if everything continues rising, when will you sell and by how much? โ What if the crash starts tomorrow?
Consider all scenarios and you will always be safe. Secure profits on the way up. Rebuy and reload red/near support.