Assess Thesis First: Hold If Valid, Cut If Invalid

I entered this trade yesterday and I'm down about 10% of my capital. I wouldn't automatically cut just because of the drawdown — first check whether my original trade thesis, timeframe and stop-loss rules are still valid.

If the setup is still intact and the position size fits my risk plan, I'll hold or trim slightly; if the thesis is broken or my stop-loss was hit, I'll cut and redeploy the capital into a better high-probability idea.