Disliked{quote} Theoretically, averaging down is never optimal in hindsight, but neither is averaging in. Buying full lots at the lowest price and closing them out fully at the highest price is optimal. THAT IS MATH. But as I've tried to stress, analyzing the market in hindsight is a fruitless, irrelevant exercise, and many traders despite their best efforts do have to deal with non-mathematical risks, e.g. emotions and feelings, that may be just as important as money management, if not more so. Losers hype up market cliches. -SmittensIgnored