Everyone who conducts crypto trading must already have principles and know about profit or loss. My principle is that I will never sell when I see the results will lose, I better hold when the coins that I have bought are decreasing in price (holding is not afraid of losses) but part of the strategy. And I will sell when I increase, although I will definitely sell a little. Never be afraid to experience a loss, because loss is one of the risks in trading. But you must have a strategy.
Almost the same as your strategy, when I hold a coin and the price goes down, I will not sell the coin but I will buy it again in stages, and if the price drops again then I will buy it again gradually. In my opinion this is the best way to hold a coin, minimize more losses, even though at first it loses but must be calm.
Oh yeah but I don't dare to do this on coins below 10 cmc, because it's very risky.