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Trump trade: Bitcoin hit record highs and Tesla hits $1 trillion market cap
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What to prepare for the final few days before the US presidential election

I am not betting on who will win in the election but still need to prepare a few things:
1) I am mentally prepared for a wild ride in volatility in certain stocks. If Trump (in short T) wins, the stocks related to him will rally (e.g. DJT). On the other hand, if Harris (in short H) becomes the next President, stocks that benefit from her policy will rocket (e.g.FSLR).
2) There are many who will post or share info about a stock. It is important to DYODD by having a balanced view (read both the positive and negative sides) and learn to avoid negatively biased comments that fuse FUD. Stay calm and don't overreact like panic sell (fear) or FOMO buy (greed).
3) It is a golden opportunity for swing traders and short sellers. However I am not doing either especially leveraging because the risk is too much for me.
4) I prefer to buy puts/calls because when the contract expires, you will only lose the premium.  I buy puts to protect my lower limit  and buy calls to profit if the share price soars. But for selling options, make sure you know what you are doing and not blindly follow the mass as the loss can be unlimited.
5) As a retail investor that takes a long position, my portfolio is prepared for short term volatility risk. One way is to buy ETFs like the S&P500 to diversify which may be better than investing in a single stock. The analogy is not to put all eggs in one basket.
6) As for Bitcoin, the value is driven up by hype. It is difficult to forecast how the price will move but uncertainty usually will push up the price but for how long is anyone guess. If you want to invest, please DYODD.
Bottom line
Just like the previous election, the storm will settle down eventually and the fundamentals will take over. I'm adjusting my trading strategy to prepare for the further US Fed rate cut in December, how Elon Musk will cut government spending if Trump wins the election and the possibility of another US government shutdown if the Democrats and Republicans disagree in spending policy.
What to prepare for the final few days before the US presidential election
What to prepare for the final few days before the US presidential election
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I reflect trading experience by writing journals. My posts and comments are for education purpose not financial advice.
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