Losing 10% isn't "everything" though. There have been major warning signs in all markets for weeks now. Be ok with losing what is in them if you are going to try and stick it out. If you only lost 10% that would give you a chance to back off the markets when you realize shit is unstable. Have some hard assets, and other assets that are extremely speculative that you can survive without if they implode.

I see traders all the time who blow up their whole accounts within minutes, they decide to short low cost high momentum stocks which then get short-sqeezed to oblivion. But they know it's high-risk high reward.