I've made some very good money "averaging down". It basically means you are strategically entering a company or taking a position, as a stakeholder ,within a given defined range.
Of course, for the true minnows, it would be very dangerous, but there is a fine line between stop loss technical panic and due diligence not being completed. If the company is cheap in your eyes, all things being equal you buy within your range. I do, as long as liquidity is evident and F/A does not change. Usually within 3 tranches - 25/25/50.
The best tip is never buy at the top of the bid - if you do, you're in trouble uinless you are momentum daytrading.
Let the market come to to you unless you're swinging like a monkey off a tree that just lost his coconut.
