I day trade the Futures markets for a living. Every day I have a daily loss larger than 1% of equity I will add a journal entry here. I will also log my thoughts and feelings related to these losses. Based on back testing the approximate losing statistics for my trading are as follows: Probability of a daily loss >10% of total equity: once every 5 years. Probability of a daily loss >5%: once every six months. Probability of a daily loss >2%: once every two weeks. Probability of a daily loss >1%: once every week. These are of course average probabilities, in reality losses often come in streaks. For example I could get three >2% losing days in one week and then not get another >2% losing day again for another two months.