The acceptable level that you should let your account drawdown will vary between the different styles of traders. It will also vary between how comfortable each trader is with risk.
The trader who is scalping the markets, making many trades each session and risking 5% each trade is a lot more likely to see a large drawdown compared to the trader risking only 0.5% each trade and swing trading.
With that said, the scalper is also a lot more likely to be okay with taking on the higher risk knowing that it comes with the potential for higher rewards. The longer term swing trader is more likely to be conservative and looking to minimize any potential drawdown.