Don’t Hit The Panic Button Too Fast

panicbutton

During yesterday’s selloff I noticed quite a few traders on twitter who appeared to by hitting the panic button. Many of them went on an on about how this has been long overdue, and earnings are going to be down, and Fed this and that.

Of course this ¬†happens every single time we have a decent selloff. Nothing new. But it’s easy to get caught up in the heat of the moment.

This is actually similar to how I have been feeling about my Amazon business.

The dashboard for Amazon Seller Central keeps a running tab of your sales for the past 7, 14, and 30 days. My 7-day sales peaked a few weeks ago at almost $2,500 and have since dropped to below $1,000 this morning.

I want to panic. But I’m not going to.

Just like stock trading, Amazon selling is going to to be an up and down experience. There will be great days, and there will be terrible days. Even the best equity curves in either business will never be perfectly straight.

Whether we are talking stocks or junk I bought from Gabriel Brothers, we have to remember to keep the big picture in perspective. The market has been on a ridiculous run all year, and I banked over $6k in Amazon sales in only my third month.

When the whole world gets caught up in the moment and starts screaming to hit the panic button, take a minute and look at what is happening from a rational perspective. Things might very well be in trouble, but one day of losses or one week of slow sales doesn’t mean the sky is falling.