You have a plan. You have an edge.
But then you take a stupid loss. You get angry.
You double your position size to "make it back."
Ten minutes later, your account is blown.
This is "Revenge Trading." It is the #1 reason retail traders fail.
Most gurus tell you to "work on your psychology."
We disagree.
You cannot meditate away millions of years of biological evolution.
When the fight-or-flight response kicks in, your IQ drops to zero.
At Codon, we do not trust willpower. We trust code.
The Solution: The Circuit Breaker
We build a "Kill-Switch" directly into our algorithms.
It acts as a hard circuit breaker. It monitors your daily PnL.
If you hit a specific threshold (e.g., -2%), the script PERMANENTLY disables all signals for the rest of the session.
It doesn't matter if you see the "perfect setup" 5 minutes later.
The bot will not fire. You are locked out.
The Code (Pine Script v6)
Here is the logic we use to protect our Elite Trader Funding accounts.
It calculates realized PnL and resets every new day:
// --- Logic ---
float dailyPnL = 0.0
if dayofmonth(time) == dayofmonth(time[1])
dailyPnL := dailyPnL[1] + strategy.netprofit - strategy.netprofit[1]
else
dailyPnL := 0.0 // Reset at new day
// --- Kill Switch ---
bool isKillSwitchActive = dailyPnL < -equityGuard
// --- Execution ---
if (not isKillSwitchActive)
strategy.entry("Long", strategy.long)
Why This Works:
1. It's Binary: No grey area for "just one more trade."
2. It Protects the Prop Account: It prevents you from hitting the daily loss limit and getting liquidated.
3. It Buys Time: It forces a cooldown until your dopamine levels normalize.
Stop trying to be a stoic monk. Be an Architect.
If you know you have a weakness, build a wall around it.
Copy the full source code and add it to your strategy today: