The first goal as a trader is not to lose all of your money. If you are able to achieve this, your next goal is to outperform the market. If you trade for a living, then you need to make enough to live on.
The Nasdaq is down about 6.5% in May. This is a totally new scenario for me. I started day trading at the end of January and this kind of move blind-sided me.

I didn't lose much, but I missed a chance to make a lot of money. There was a lot of money to be made on the short side.
With a steep move like this, everyone is looking for the bounce. The impatient ones pay for their impatience.
It reminds me of some advice my uncle gave me when I was just starting to play tournament chess. Tournament chess is touch move - if you touch a piece, you have to move it - and so he told me to sit on my hands and to be absolutely sure I want to move something before I touch it. It is the same with this market. You have to sit on your hands. Wait until the market tells you that it is definitely going up - wait until you are absolutely sure before you make your trade.
I really need to put a lot of effort into learning to trade upside down. Shorting is not the same as buying backwards - it acts different. These last few weeks have given me an opportunity to study a lot of charts and to figure out what to look for and how to make this work - so that is what I have been doing.