I find it difficult separating between cutting losers short vs killing trades too early when you get a bit draw down and then it runs in your favor. I guess it's because you can never know what going to happen next for sure. lol.
I tended to follow James advice and cut my draw downs fast, but then figured that long term it wouldn't pay off. So I lowered my risk per trade and made a rule of not doing anything no matter what till price hits my first trouble area or my SL.
I also came up with the though that James cuts off his draw downs cause of fear/uncomfort ( I remember him saying taking full bar loses makes him sick for months), but I am really not sure if he does it for his emotional comfort, or actual statistics.
When most of your trades generate around 0.5R, it's quite significant taking a full bar loss, even if your win rate is high.
Decisions, decisions...
Any brilliant thoughts for ya Mike? lol