Are you in a bull market? Are you in a bear market? Or, are you in a trading market? lf you are to extract profits from these markets you must apply the correct methods to trading these markets. If you incorrectly assess your market stage, your trading decisions will be flawed. They will be flawed not because the trading decisions are in themselves bad, but because the premise upon which you apply these decisions is incorrect. Most readers instead blame the trading decisions as being bad.
– William Eng, Trading Rules II
