REMEMBER
Every trader needs 5 protection levels.
Stop loss to stop yourself from furthering losses
Time stop loss to get you out of non-performing trades
Adjusted stop loss to lock in profits when the market moves in your favour.
Risk % per trade to only lose a certain amount of your portfolio
% of Drawdown before you HALT trading - when the market is not in a favourable environment to your strategy.
These are the control factors to manage your portfolio with better direction and management.
What other protection levels do you apply?