Why I Don't Average Down?

I only do Average In but not Average Down to control risks.

Average In means I can buy more of the same counter and different counters in the same sector up to X% of the Total Capital (invested + available cash).

Average Down means buying more when it gets cheaper to lower down the average investment holding cost.

This is a huge difference in term of risk management since I don't have stop-loss strategy: http://createwealth8888.blogspot.com/2009/10/portfolio-management-stop-losses.html

Always think of risks and losses before dreaming of your handsome profits as losses can kill.