Understand the various scenarios that the market may present you and then plan your actions for each of them. That is preparation, not prediction. Prediction tends to bind you to one point of view because when that doesn’t come true, you don’t know what to do.

Always have an exit plan. Many people could have avoided the catastrophic losses they took in the markets this year if they, or their financial professionals, had engaged in stronger risk management practices, including the use of trailing stops

Understand the various scenarios that the market may present you and then plan your actions for each of them. That is preparation, not prediction. Prediction tends to bind you to one point of view because when that doesn’t come true, you don’t know what to do.