Your questions would only be relevant depemding on the size of your account and whether such a loss affects your lifestyle. For a $100 trader, 50% loss would be substantial, but not life changing.
On the other hand, blowing a $5,000 account in one month would hurt in more ways than one. And unfortunately, that’s what 90% of newbies do, whatever size of their account, because they focus on profit, not process.
As for me, my money management and risk control over my two self-managed live accounts is process focused, so that I don’t come close to an emotional outburst from days of consecutive 1% losses, knowing that it would take 100 trades of consecutive losses to blow my account…
How you recover from a huge setback is answered above: FOCUS ON PROCESS NOT PROFIT.