re: In ancient warfare was it better to have light cavalry or heavy?

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Ideally, you’d have both

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well of course but we are talking a scenario where you cant for whatever reason have access to both. I would choose light simply because with mobility on your side you can dictate the battle and decide when you will fight and when you will run. Once you have the enemy at a disadvantage you can attack quickly and as I said if you are losing the retreat would be easier. At least that's how I see it.