I tend to abandon all colonies other than my main one, which is choc-a-bloc with artillery and horsemen. I lost very few horses, and only about 2 aritllery. The city was full of horses so I didn't lose any men.
My tactic was to fill the seas with privateers (which were quite effective agaisnt the man o' wars). When the troops made landfall next to my colony I attacked them from within with horsemen, while keeping the artillery safe inside.
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