This goes against the market adage, "bulls make money, bears make money, but hogs get slaughtered." Although this cliche may sound reasonable, it is not what top traders do. Richard Dennis, a trend following trader who reportedly made over $200 million in the commodity pits of Chicago in the 1980's, was quoted as saying:
...many people would make incredibly bad trades just to take a profit. They would get out even though the market was locked limit-up and almost sure to go up the next day. They could not stand the profits burning a hole in their pocket. I would try to get in when they were getting out.
Trend Following (Updated Edition): Learn to Make Millions in Up or Down Markets
