Of course you also have to believe the theory of buy and hold is sound and likely to work in the future. I think that's another part of why I struggle with it.
Hello, fellow emotional trader. You would benefit from Set and Forget, heed my words.
I do think it's important to be aware of our emotions when it comes to money and investing. I've realized that I won't be comfortable enduring drawdowns much more than 20% and so I've found alternative strategies that let me sleep at night.