in order to use equity dd properly you must set a variable when entering a trade, now assuming you only do 1 trade open at a time, while that trade is open you can then do a formula and calculate and say...equity(variable1) * .95 = variable 2. Condition block, if equity (account) = variable 2. close positions. Don't forget to reset the variable after each position close. That will then allow a 5% drop in equity before closing positions.
if you dont set a variable, equity can never be equal to equity...unless you go a different way about it, but thats the logic I used to accomplish balance and equity closing for a daily, weekly, or per trade basis when using total balance as a metric for TP or SL.
