i've heard forex people who believe never avg. down as well. He says the best and most profitable traders only add to winning positions. Getting in on a trend, holding, and adding all the way up is how you hit the jackpot.
Right on charger...averaging down is not to be done by the falling knife thing...there needs to be a technical reason to enter the cost averaging aspect of trading..rthere needs to be a technical reason to enter ANY trade for that matter.....if your wrong again then so be it..nothing to be ashamed of...but if techs are good then first failure may be against you but second entry should statistically be on your side.Your also correct about the diff between live and demo(practice) accouts..not much emotion involved with demo but with real money emotions enter the equation and emotions are the worst enemy of all traders IMO.I suggest that a new live account be traded in microlots of 1000 units...10 cents a pip...that helps bridge the gap between practice accts and live acct.If consistently successful on microlots then start slowly to kick it up a notch!
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