Averaging down is truly a great idea, however it can be the demise of many new traders. Before you go and put more into a trade, watch this one...calculate on paper what your exit and entry points would have been and skip the part where you daydream. If this is new to you then you are "in the hype" or the "tunnel". This will lead to the a bad scenario because as with all trades this can go bad in a HEARTBEAT!!!! Truley keep a vigil on this and do NOT average down on your first or soon after trades...just a thought...I have been known to trade drunk though, and ask my ex-wife how that turned out...;)
We all hope that averaging down will be hard for you. You mainly need the conviction to act on what you believe. If the pps gets to 10 or 20 cents (hopefully much more) you won't care if you paid .016 or .015
If you are new you won't be able to average down if you bought in the .017 area. If you bought in the .03 area all you have to do is buy more and it will average down automatically.
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