Is to go on a break, most definitely when something like this isn't working so well a short break will do and as well trying to understand the reasons for it. This is s huge loss I must say and I won't say it's greed tho this is a similar trait to gambling and when you are undergoing such losses you ether stop for a while or you gamble with what you can afford to lose, but since they are kinda similar I think you should apply this formula too and see how best it works for you.
Taking a break after experiencing a loss is indeed a wise option for every trader because every trader certainly needs to understand why he lost with the previous strategy so that in the next trade he can apply something slightly different so that we no longer experience losses in the same amount. Because losses are a part that is always present in any trading so that it cannot be separated permanently from trading work and I think the formula you offer is a pretty good step even though I will still say this is trading not gambling.
Yeah as you can reassess what's done wrong or how you can adjust to see if there's another opportunity before placing another position, it's good for you on both mental and financial as if you push yourself after making a wrong assumption it might trigger frustration and another wrong decision making.
Take some rest and plan your next trade, there's always open opportunities you just need to figure it out whether to go long or to short the market if you are anticipating quick market run.