With a slew of important economic news coming out this week, most traders are optimistic and are expecting to generate profits in their account based on their trading plan and strategies. But in reality, most traders will end up losing. This hard fact reminds me of one of Mike Tyson’s famous quotes, “Everybody has a plan ‘till they get punched in the face”, which speaks truth and volume in every aspect of life and business or trading. Even the best strategists have to be prepared for the unexpected.
So how can a trader prepare for the unexpected world of trading?