From my experience investing in stocks that are going up instead of losing 50% daily works out a little better.
I owned like 20k of this garbage 1.10s sold for 1k loss. owned 20k of it .90s and took 1k loss. Owned like 40k yesterday .68 avg. took 2k loss. With your strategy I'd be pushing 100k losses shortly. Rather than getting crushed I'd prefer to own 250k of it .09s and take another 2k loss to buy 500k .05 until the trade starts working. No point averaging down into losers. find a winner. good luck.
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