If you have experienced losses in the past and even lost 80% of your funds, then my advice is you need to stop and start again when you recover.
Stopping does not help at all to the question, OP only lose 80% of his capital, he does not lose everything yet, so that 20% can still be use to recover what he has lose. Well, holding for long term would not help anymore as it will take a lot of time, the only way is just for OP to learn how to effective do trading especially day trading, just like gambling he can easily grow his money if he is lucky and maybe good enough.