Averaging up may make more sense when you are using Technical indicators to take a position.
Averaging down is actually the less risky trade on good Fundamentals and can deliver windfall profits. You just have to know when to do it. Do you average down on S32 at 90c, or CLQ in the 50s, or AIZ@ $1.60 or do you average down on GSW, SGH, or RFG??? Do you average down because a DFS was delayed or do you do it if Ni and Co lose all support? Do you average down on Trump dramas that always blow over or do you do it if you have a material pickup in US inflation?
Look inside and you will find the answers.
Rome Burning But CLQ Holding Up, page-194
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