Aokenshield

Question for expert traders

Recently, my copy portfolio got wiped out, lost my entire capital. I was copying a very successful trade leader who was making consistent profits but had one bad day and I lost everything.
Here’s the question: In my little experience, a lot of trades go the wrong way first before they start making a profit, so, setting a strict stop loss to protect capital just seems like a sure way to always make a loss. On the other hand, setting no stop loss or a very relaxed stop loss might just lose big chunks or the entire capital in one trade. What then is an objectively acceptable risk management strategy to protect capital while leaving room for profit making? After all, that’s why we trade isn’t it? It’s not just for the fun of it.
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