There are more and more hurricanes in U. S nowadays, although I haven’t experienced any hurricanes being in Canada and I’m certainly very thankful for it, I remember clearly how we always had many typhoons back when I was still in Taiwan.
Typhoons came pretty much every year, and the worse of all is that we were living in the rural area without proper irrigation system, so every time after typhoon came, there were always floods everywhere.
We even had to take the boat out for food on some occasions….
I certainly understand the inconvenience of these kinds of events.
So what can we do?
The best thing is to move, of course, move out of the hurricane and typhoon areas.
But it’s not really feasible for everyone, so the next best thing you can do is to prepare.
Prepare for the storm, prepare for the unforeseen, prepare!
Preparation does not mean you will not have losses from this natural disaster, because frankly speaking, it’s beyond your control.
But if you sit through the storm without any preparation, or start acting while the storm is already here, you’re dead in the water.
And it’s exactly the same theory behind trading (and why so many traders got killed in the market every day)
Because when times are quite such as today (usual Monday), it’s the best time for you to prepare - to read, to research, to analyze, to back testing…etc
And to prepare when the trading opportunities show up.
Of course, even with all the preparation and plans, you will still encounter losses all the time, but you have been prepared, you have been testing, practicing, you know the drills…
Therefore, you have higher chance to win, to minimize the risks and your losses, to understand your psychologies…etc
Yet, 90% of the trades start trading when the storms are already here, when they’re completely wet and soaked in the water, then they realized how important it is to have a life jacket, to prepare, to have a stop loss, to not risk too much in this trade…
But it’s all too late, soon the water gets higher and eventually they are drowned.
Do you want to be the ones who survived through the storms?
Do you want to be the ones who got the only life jacket on the sea?
Do you want to be the ones who sell their stored gas or foods for higher price? (and yes, supply and demand will determine the price, there is nothing unethical about it)
If you want to be the one who not only survive but also profit, then you better be prepared.
Remember in every crisis, most people lose fortunes while some make fortunes