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Those who didn't catch the upward movement missed out completely, and those who didn't get cut by the falling knife should have seen their accounts wiped out during this drop. Why is that? Many blame Powell's hawkish speech for the market crash, but never reflect on why they chose to gamble in a news-driven situation.
We can't influence the Federal Reserve or Powell's speech, so isn't it better to just observe? Why gamble on that 50% probability? It's fine to avoid trading based on news; observing has no cost and won't lose you money! Keeping a cash position is a form of wisdom, and cutting losses is a form of courage. Which one can you achieve?