You don’t need a crisis in Spain, Greece, the Euro, Gold, or the middle east for things to get worse.
You can be entirely brilliant and not know what to do.
You can be entirely brilliant and be frozen by unexpected events.
You can be entirely brilliant and still be caught flat-footed.
If you don’t know where you’re getting out before you get in you are in the stooge line.
Most investors and some traders are complacent by definition. How else can you describe not having a clearly defined exit strategy for your positions or trades.
That’s what complacency is.
This is nothing new.
This is job security for those who know what they’re doing.