Once Livermore took a position,he watched it like a hawk for signs that he was wrong.This was a crucial factor to his success,since when proven wrong he never hesitated to get out of a position.When proven right,he averaged UP,as each buy was placed at a higher price his view was being proven by the market.Livermore never averaged down!!!!!!!!!
We only pass through these earthly portals once,and we are not here for a long time.Therefore,it should be a good time :)