There is an old saying that everyone is a genius in a bull market. When the indices are trending higher your chances of making money by simply buying and holding stocks are quite good.
The bad news is that this is not a bull market right now. If you want to navigate this market effectively it is going to take more than simply buying 'good stocks'. This is the sort of environment in which the value of active trading becomes quite apparent.
The first step is to get your mind in the right place. Don't think of downside movement as negative. Think of a price drop as a potential opportunity. If this is simply a market that is going through a normal correction or even a bear market then it is inevitable that new opportunities will develop. The key is timing. If you rush in too fast you end up having to pay a price for the poor timing, so it is important to keep working at finding optimal entry points. If you are wrong, dump the positions and try again.
If you truly have a trading mindset then you should have a positive reaction to a bad market. Maybe you take some hits to the positions you are holding but that should be offset by the strategic benefit of dealing with a market that is offering the opportunity to improve your positioning.
One of the biggest mental obstacles traders face is the feeling if they don't act quickly enough they will completely miss out. There is an inclination to try to be fully invested at the exact moment that a turning point is hit. It is an unrealistic and counterproductive goal.
My goal tends to be the opposite, I want to have a very high level of cash when the market hits a low because that will give me maximum flexibility to scale up into stocks that are just beginning a new trend. Trading feels much different when you are hoping that old buys just make it back to even versus making new buys that you believe have significant upside.
We are seeing a decent bounce at mid-day and there will be an inclination to believe the worst is over. Perhaps it is but that doesn't mean you have to rush in right now and put all that precious capital to work. If this market is going to deliver sustained upside from here then the strategic trading is just beginning.