IMO averaging down can make sense on pull backs in a rising...

IMO averaging down can make sense on pull backs in a rising market but not in a constantly falling market.

I sold most of my FMS holdings at 23 cents and the balance at 15 cents taking profits. (my average buying price was 13 cents)

Got back in with a smaller parcel at 13 cents and was stopped out at 11 cents.

I am still waiting for a re entry point.

Where would I be today if I had averaged down? I would be sitting on a big loss. As it stands I am sitting on big profits.

First rules of trading: never turn a profit into a loss and use stop lossess.