Your daily loss limit is not a suggestion, it's the circuit breaker

A stop loss protects one trade. A daily loss limit protects you from the version of yourself that shows up after four losing trades in a row and decides today is the day to make it back. Automation doesn't remove that person. It just gives them a faster tool. The limit has to be set before the session, in the software, where reaching over and changing it is an act you'd have to notice yourself doing. Mine is 2% of the account. I have hit it maybe five times. Every single one of those days would have been worse without it.