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That looks great but the fact leverage was used in a strong bull market adds further perspective.
Agree ............
(My comments below are for traders who are either new to the game, ... or oblivious to the fact that they don't actually know everything!!)
Bottom line for me is (particularly if we are talking Stocks) ......
F/A is a "longer term" "I see value" scenario
T/A is a "shorter term" Lets take advantage of the current market conditions which "take advantage" of the current F/A conditions !!
eg. Position size yourself accordingly, relative to the market in general .... and relative to your own personal financial situation