Depends how far down you are going, but I would imagine 4th would be fine if you can handle it. There is nothing wrong with 3rd though, just be sure to rev match.
Others: what is this loss of traction you speak of??? Ride the clutch much?
No, what happened for me was I missed 5th and hit 3rd with no rev match. The abrupt change in speed of the engine and the transmission engaging haulting the driveline until it could catch up to the rest of the system.