### Comment:
It is better to pyramid up than average down.  Higher profitability trading on the short time frame results in lower sharpe ratios and higher max drawdowns.  This is because you want to catch the big runners that will simultaneously wipe out prior losses while growing the account in a meaningful way.  It's just the nature of a zero sum game.  Granted this is on the liquidity side (intraday).  I'm sure position trading goes the other way due to the longer time frame.

### REPLY:
wrong sub?

### END.