Four Stops Worth Writing Down
Daily loss stop — the firm already has one; yours should be at or inside it. Trade-count stop — a ceiling on attempts when the open is noisy. Profit stop — optional but powerful after a green morning. State stop — two rushed clicks, revenge urge, or distraction means the session is over even if P&L is fine.
If only the firm limit is written down, you will use all of it. Personal stops exist to leave margin under the hard breach.
Order of Operations Mid-Session
After each trade, check remaining daily loss room, remaining trade count, and trailing buffer — then decide if another entry is allowed. Checking the chart first is how people skip the checklist.
On multi-account books, check the tightest account first. The leader's room is irrelevant if a follower is one tick from lock.
Stopping When You Are Winning
Stopping green feels optional. Under trailing drawdown and consistency rules it is often the highest-EV decision of the day. See FOMO after a winning day for the psychology; here the rule is simply: done means flat.
- Hit personal profit target → flatten → lock or walk away.
- Hit max trades → done even if you are green.
- Hit daily loss → done; do not negotiate for one scratch.
- Hit state stop → done; P&L does not override.
Make the Hard Stops Mechanical
MimikTrader can enforce daily loss, trailing drawdown, consistency, and max daily trades per account while you copy. Personal profit targets and state stops stay human — but the breach ceilings do not have to.
The point of a stop-for-the-day framework is not to trade less forever. It is to still have an account tomorrow.
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