What I am doing, and works for me, is to keep a 20 day moving average of green days profits, and use that as a cutoff max loss for the day. So I know if I hit the max loss, then the next day I have a good chance to make it back. Of course, if you have more algorithmic entries, then it is not a good idea to stop the system (unless performing outside of predetermined parameters).
Most (if not all) propshops have these type of risk control (daily , weekly max loss) for traders to limit tilt or other bad streaks.