The panic selling no doubt is a bad habit but you also have to look for your money that you have invested. I have learned that a dollar today is better than a dollar tomorrow, at that time I didnt understand its meaning well but for now I do know it. Guess what when you realize that your investment is drowning so then it is better to pull as much as you can from it otherwise you will have to bear the consequences not in your favor.
You need a change strategy for your trading each time; this is how you will be successful in trading.
Yes but why a person will changed it's strategy if it's works for them most of the time?
Changed maybe not the right term here but enhancing and improving the current strategy. It's not totally changed but just added some modifications that will keep the current strategy more effective. In that way, people don't have to start overcourse since why should they in the first place if their current strategy gaves them more winning compare to losing.