%% NOT likely/ most that make above average % or %%, [or%%%]have not blown up @ least one account or ground it down to zero\goose egg LOL For sure if asked to provide proof of liquid net worth/do it. 80% of Pro mangers cant even beat SPY benchmark; probably about 8% or 18% or 00.8 % derivative traders do that. Assume a bull200 dma SPY market which we are in/ yesterdays close.
That's not a bad idea. It forces you to have a plan so that the employee knows when to slap you. Maybe you could find someone who doesn't like you who will do it for free.
And now is when we all realize that limit stop orders are a thing. Why the hell would you like to set a hard stop on the whole account? if you had proper stops per trade you should be fine, regardless of any "algo" going mental. @s trader I don't use the Rithmic Trader Pro software, just googled the query and found the answer. I have not idea how that piece of software works.
Forget the hard stop, just make yourself listen to this song every time your draw-down is bigger than $300