When faced with an emergency, short of a cockpit engulfed in flames, get straight and level, stop what you are doing, and count to 10. Okay, don't actually literally count to 10, but don't just do something right away or mindlessly start doing checklist items. I don't care if they are boldface/memory items. You have to take a few moments to analyze what is actually happening, and determine if you are about to make things worse. If you have a burning engine, nobody is going to give you any grief about waiting an extra few seconds to figure out which engine it definitely is.......but they are going to give you hell for shutting the wrong motor down in a hurry to just do something. I always thought that specific anecdote was a funny almost unbelievable one.....how could anyone shut down the wrong motor? Then one day I had an engine problem that called for me to shut one down. Before shutting her down, I brought the throttle to idle to make sure the issue wasn't going away. After a few seconds of thought, and telling my wingman what was going on, I realized "wow, you really are as dumb as you look....that was the wrong damned motor". Verbalizing the warning I was looking at, and then comparing that with the position of my throttles cleared up what a little bit of heat-of-the-moment dyslexia almost caused. Pushed that hog back up to mil, and brought the other back to idle. You probably would have been reading about it in national news had I just slammed her home to "off" when I saw the red light. Not a smart initial move, but it was a good lesson in allowing the surprise to wear off before you do anything that can't be un-done.