Thursday, October 03, 2013 9:15:32 PM
LOL, that's an old argument! 
I think most experienced traders know it's a grossly oversimplified statement and in his haste to write something catchy he ignores all the variables that we deal with every day in the real world: the chart, the fundamentals, the person's time frame, the cash available, opportunity cost, etc., on and on.
I don't keep track, and I've certainly been burned many times, but over the years averaging-down has worked well for me.
I think most experienced traders know it's a grossly oversimplified statement and in his haste to write something catchy he ignores all the variables that we deal with every day in the real world: the chart, the fundamentals, the person's time frame, the cash available, opportunity cost, etc., on and on.
I don't keep track, and I've certainly been burned many times, but over the years averaging-down has worked well for me.
All that is needed to make a happy life is within yourself, in your way of thinking. -Marcus Aurelius
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