The key skill to develop is to quickly get out in such situation otherwise you are a sitting duck. Months worth of profit on individual stocks can vanish in minutes.
That is the trader mentality you need to develop.
For that situational awareness (SA) is so critical. You have to mentally rehearse scenarios. See my earlier posts on SA. SA is an aviation terminology and it teaches pilot skills to be prepared for all possibilities.
If things improve in the market it is easy to get back in. But first 10 priority is to not lose money. Then make lot of money. That is when compounding works in your favor.
If you can compound at 5% per month without drawdown you end up up 80% for the year. If you can do 7% per month you end up with 125% return. But once you are in drawdown, you waste time digging out of the grave,