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Good point and one that I roll around in my head quite often.


The tricky part is - when do you determine is a good time to open? - A MA cross? lower low? VSA? Not to sure on this one....


How big a position do you take, how do you arrive at this position? - I guess the position sizing would be relevant to the long exposure in the momentum (and perhaps others) portfolio. X would give complete hedge while 1.X or 0.X could be justified depending on strategy.


What instrument is used? - For me the best choice would be an index CFD.


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