Let go of the memory of your Portfolio ATH when the market turns around and don't set any specific target.
What I mean by it is that since April, most have been holding their bags because they can't let go of their portfolio highs during March. Let's say, you started with $100, and at the March highs, your portfolio was at $800. After the April dump and the market dynamics shifting bearish, your portfolio dumps to $700.
it's really hard to get out at that stage, reason. You still want that $800 even though you will be up quite a lot, but it's hard to let go. In such conditions your mind will start playing tricks on you, creating biases like it's just a shakeout and blocking all the bearish signals.
the sooner you learn to be okay to forget the ATH of your portfolio and be okay to walk away with whatever the market has given is the day, your mind will stop playing any tricks on you and work in sync with the market.
Now let's suppose you still want that ATH of your portfolio then there is a high chance that your mind is in a fight mode. Angry, bitter, and resentful of why you didn't sell and how come your portfolio shrinks so much because of your stupidity, this mindset is a portfolio killer, because right now you are just focused on how to reach that level again. A specific target!!
Instead don't even set a target for your portfolio at any moment until you have developed that mindset which is achieved over years of trading and experience.
Reason: Let's say you start with 10K and set a target of $100k. What if when your portfolio is at 90k and the market gets overheated? Just imagine yourself in such a condition. You have done 900% and right now you are just another 11% away from reaching your target. Your mind will become numb to all the alarming signals and even create a bullish bias while every reason and signal will be shouting at your face to get out but people can't and that's the reason 99% of people become the bag holders or round trip 50-70% on their portfolio.
Now imagine, you don't have any specific target but instead, just flow with the market, your mind will work more sharply and you will be able to identify when the market is overheated and be able to get out at the very first alarming signal. in this case, you might get out at 90k or even 80k but you will be happy with the gains you made instead of wanting that little more.
Hope I was able to explain it well and remember my friend, financial freedom is a marathon, not a race.