I'd say many on here, including myself have been burnt when averaging down on falling markets. eg. GFC.
My take is that if the balance sheet, business plan, Board etc look fair value, stagger into a position in tranches. Many here are only interested in the current share price and daytrade on momentum and short term T/A, that is when stop losses are vital.
If not, I suggest the staggered approach. Buy at current prices and lay orders underneath and wait as in many cases once you buy, the price will fall as market sentiment ebbs and flows. As mentioned here previously, of course if you're buying a penny with only a hint of potential, well, many are prone to lose on a buy/hold strategy atm as mnay are just dream machines, but to state that to average down is not a fair strategy is incorrect IMO unless a major fundamental event has occurred that has placed undue negativity within their business plan.
Most investors do average down as their DD has made the decision making process quite transparent.
Also, set targets and stagger stop profits. This is more important than stop losses for me and always analyse the daily global macros - no point holding any share, if the global economy deteriorates.
