Every time you take profits during a bear market, you're adding more capital for future bottom-buying opportunities. -- Whether it's the logical loop of strategy or the logical loop of gambling, long-term, mid-term, or short-term, even if you're wrong, you must stop—that's cutting losses. No matter what level of trade you're making, you must stick to the logic you had when you opened the position. Of course, sometimes there will be switches between long, mid, and short-term strategies. In that case, you need to reassess the subsequent logic, which is equivalent to opening a new position and starting fresh.