I agree position sizing is important, especially here in penny land. However, averaging down on a 25% move against me still presupposes that the support level will hold. The risk/reward for me, with an entry right above a penny, that the 50 DMA will hold and not move lower to .005 was not sufficient. If I had entry at .005, I would probably not care and in fact would be salivating for an opportunity to add to my position.
However, my initial trade thesis was for a breakout. I modified that thesis once already, giving leeway for the stock to springboard off of both the 50 DMA and the trendline, which it still may do, but it is better to play it safe given my entry.
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