For every lot you trade break it up into 5 or 10 smaller positions and quit for the day after 5 or 10 losses.
Cut your losses short, let your profits run, one full size loss per day.
Personally I trade in multiples of 5 even though I could get away with multiples of 2 or 3.
Anything can happen on a single trade, but I know what is going to happen over several trades.
I believe in loss limits because losses should not be happening...
razorboy wrote:philosophical question.............
Say you are comfortable in your edge and take your signals as they come.
Should you have a daily loss limit? Or just trade your usual markets during your usual times?