Exactly that ... they are both needed, but important is to understand the trends, and waves to reduce the risk of losing. And always give yourself a point to where you will go when you see the Bears coming but you expected a Bull, what is your limit and where do you stop to avoid losing more. Set a limit to the point you can take a loss, and same in the Bull market. Set a limit and withdraw your money to avoid falling back because you were too greedy.

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