yes you are right that panic selling will only lead you to lose some coin value. here, being patience is a very important to have. It is virtue and we must have full patience, not half or moreover quarter. But, patience is not enough. We need to be smarter and more careful in considering the right time to sell, buy, and hold.
I really figured this one out. It really doesn't depend on how further down it goes, it just depends on the time it stays down. Now for example something can be 100 dollars and go down as much as 25 dollars or whatever in a week and I will be fine with it, however if it goes back up to 70 dollars (which is more than double so great) yet I can't have it back to 100 dollars for months than on about 6th month or so I start to get really sick of it.
Now, its only gone 30% from the initial entry point and it has seen 75% going down as well yet I draw the line only at around 6th month of no profit and not how further down it goes. It can worth 1 dollar all I care as long as it goes back to my prices in less than 6 months I will be fine but when it doesn't than I start to lose patience with it.