AGRX Trade on Jun 23, 2014 12:00 from ThirdStringHero_BOWS: Tradervue User Stock Trades.

Agreed, if you look at it purely as averaging down a losing position then it's a bad idea. But if you look at it as taking a scalp within the larger trade, then it's a lot less dangerous - and that's exactly what I was doing, adding in as a scalp pullback from expected resistance at 10.0. Pullbacks are one of my main moves (and most successful), and in many of them, like this case, I often take a pullback from expected resistance, but with a secondary resistance level above so I have an second opportunity for getting a pullback if the first one doesn't work.

I could say more on it, but let's just say it was a calculated move, not an emotional one. I've done enough of these - both that worked and that didn't - that I've learned how to do this where right now I'm about 70% successful in reducing my losses (and occasionally ending up with a winning trade) when I can do this. But it's not something I can do with every trade - I can only do it when I've started with a relatively small position initially, and the right setup exists to make a second entry.