First post - Lesson learned on 'averaging down' in a new trend

Hey everyone, just joining the forum. Been trading equities and options for about a decade, spent the last few years looking at futures and FX more seriously. One of my most painful lessons came early on, trying to 'average down' on what I thought was just a dip in an established uptrend. It was a Biotech stock, $XYZ, I had conviction on the long-term story. Problem was, the 'dip' turned into a clear trend break on the daily chart, driven by a competitor's surprise clinical trial success. My initial sizing was appropriate, but then I kept adding, convinced it 'had to bounce'. Each add pushed my average higher relative to the new, lower price discovery. Ended up holding a significant loss for months, tying up capital that could have been used elsewhere. Should have respected the new market information and cut the initial position, then reassessed. Holding onto a narrative while the price action screams something different is a costly mistake.