Checks to run on the losing period against your normal months:
- Number of trades. Were there noticeably more than usual, and what quality grade were the extra ones?
- Average loss. If it's normal, the stop isn't the issue.
- Results by hour. Were the first-hour results normal while the losses came later?
Changes that follow from that pattern:
- Hard stop at a fixed time, such as 10:30, unless there's scheduled data.
- A maximum number of trades per day.
- Weekly review moved to Friday afternoon, so problems are noticed before Monday.
What's the first thing you check when a bad run happens?