Solution: A performance metric is needed for real-time maximum drawdown as a function of an instrument's entry-position and current-pricing, not just realized P&L.
Additional utility: Especially when enabled with a safety-factor multiplier per the below reference, such a performance metric can provide for being able to set a "strategy stop."
Reference: "The Evaluation and Optimization of Trading Strategies" (Pardo, 2008), pages 82-84, 253, 265-272.
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