for day trading, I know loss is unavoidable. even if you have a high winning odds(let's say 60%),the probability says there is still 1% chance that you lose five trades in a row. 1% is small, but it is still not rare. if you are over leveraged, the draw down could kill you. This is why Kelly Criterion can be applied to decide right amount of leverage given your edge. However my guts tell me in some market condition, your edge could disappear, and if you keep fighting trend, your trades are highly correlatd to each other and no longer independent events. How experienced traders deal with such situation?