How do you manage your bad trades?

Do you manage your bad trades like Rob Booker has suggested on Trader Radio by taking larger positions at extreme over bought/over sold areas to turn a bad trade into a good trade? Or do you simply wait out the position until it turns around in your favour?

A. I do not take large positions at extreme over bought/sold areas.  I take small positions and add to them if price moves in my favour.  Huge positions are dangerous.