“The market is picking up” and “the bear market isn’t over yet”—what are claims like these actually based on?
A “cycle” is a summary of past market movements, not a rule written into the protocol. The sample size is small and conditions change, so past patterns don’t necessarily repeat in the future.
There’s no homework for this lesson, but the market can give you a pop quiz at any time.
Understanding the principles can help you avoid pitfalls, but it can’t replace position management.
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