Did you mean on my example above on setting an stop-loss order on Bitmex?
Since in bitmex, there are two kind of stop loss; Market stop-loss and Limit stop-loss

My above example on Bitmex is Market Stop-loss sell order.
The only need inputs on Market Stop-loss are quantity and sell stop-loss price.
Where sell stop-loss price is when the system will automatically set a sell order, example $11,500. Once the price on bitmex/index price goes on $11,500 or below $11,500, a sell order will execute on nearest available price (if there are available orders on $11,500, then it will be executed)

The Limit stop-loss need 3 inputs quantity, limit price, and stop-price.
Where your limit-price is the trigger where the quantity and stop-price will be executed.

Example: Quantity: 600, Limit Price: $11,500, Stop-Price: $11,510.

Once the price of BTC on Bitmex will mark at $11,510 a sell order of quantity:600 stop-price: $11,510 will be placed.

This is example for Binance of Limit Stop-loss:
You will set an order:


and

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Most of the exchanges don't have Market Stop-loss only the Limit stop-loss as far as I experienced different exchanges.


Well, it is really important on leveraged trading since liquidation will make you cry if you don't have stop-loss.
Yep, it's still up to us if wether we set a stop-loss or not on every trade, especially on non-leveraged trading, but for what I experienced the most, don't have stop-loss will make you no profit at all if it will continue to make a loss. Since your capital/fund for another trade is on the coin you are holding or not cutting the loss on it, so how you will gonna take profits on another trade if in case you have found another good setup?