Disliked{quote} There are hundreds of strategies. And the one you mentioned is quite good strategy if you have enough margin to stay alive long enough. But the key is to know when the point of no recovery has passed and to stop adding losers and minimize losses.Ignored
By the time you have entered the trade things change, and when you use this strategy you just open better positions. You can open it because you are not over leveraged with lots.
I use it when I am pretty sure that pair is ranging, and add it when it extends a range a little to skim more cream.
However this is very foolish and very danger strategy when you are going against trend and keep adding even 500 pips away from your beginning price.
Every time has it's own strategy that suits the best.