Yes you are right ! Stoploss should be placed based on structure, But Drawdowns are despicable. What I do is I wait for the right moment. What I mostly see is that traders are impatient, They could have the right setup the perfect structure but they get in too early or too late. Then They have a drawdown of 30, 40 50 %. Which is not recommanded.
What I wanted to say is that When u think that you have the right setup, the right structure and everything seems to be good, you have to wait for the right candle. You can use many many indicators, pivots points, candle patterns, fibo retracements, etc to determine the perfect candle to get in and minimize your drawdown.
Until now it works for me! still not perfect (started learning about trading 8 months ago) and in my fxbook i am at 58 % win ratio. and when I loose, I loose 5 pips, 10 pips, max 15. (depends on RR but max 15)
I do agree that the amount of money lost or won is not important. But when you know that 10 pips == 100 $, You take the bet wayyyyy more seriously than if it's a dollar.
I always follow something I heard, beginners worry about the profit, professionals worry about risk. And Risk includes drawdown... For me a drawdown of 60 pips is unimaginable. It's either I am on the right candle, or I wait for the right one.
Anyway I just wanted to know what is your opinion on SL, Drawdowns etc.
I love your work, I am still learning and I try to learn from everybody here that makes sens !. Thanks for your answers, Keep up your good work.