I think panic selling is the worst one. Trading shouldn't be about psychological. Because others act according to psychological and you should evaluate the others in order to do nice trades. But if you do panic sell, you will become the normal trader and you can't make money with doing similar things with others. So, do different things than others and make no panic sell.
If we do this all the time, to panic all the time the price is declining, then how can we be able to take profit on it, we will just lose our fund and investment, so better not to do investment if you cannot control your emotion and you are in doubt in everything that you are doing, it is fine to do investing, but be wise with your decision, think well.