Is Trading Pieces While Down Material Always Bad?

I played this game just recently.  This is a game where I made a mistake fairly early and lost some material as a result.  There is a common guideline in Chess that says when you're down material, don't trade pieces.  Although I do believe that this is a good suggestion, I believe that there are circumstances in which this isn't true, particularly if you can gain positional benefits from the trades.  Yes, I know that both players made a big mistake or two.  Nonetheless, I still feel that this game helps support my point about the old guideline of not trading pieces while down material.  Note that I'm playing the black pieces.  I've also made some comments regarding specific moves on the moves list.