You've Either Got It or You Don't
I will take down and I will take up
I won't give down but if up you're in luck
I'm up and down but without a wave
From fruitless journeys you do I save
I represent by my position
A simple binary condition
What am I?
Hint:If not for the one whose successor is prefixed with an "e"
Neither I nor my companion would have a reason to be.
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