Well indeed stop loss is very important for trading. But I use stop loss only for my daily trading and not for long-term trading. If I trade long term and the results are not in accordance with the analysis then I will buy it back in stages while waiting for the price to rise again. And for my daily trading, I set a 5% loss in each trade.
I never like using stop loss, I would rather just ride out the storm instead of letting a stop hunting whale pick up my coins for cheap. If your in any good coin it will always rebound if you are patient enough to wait it out.
Will you always wait for the coin to become shitcoin? for me it's ok if you trade on the top coins but if you trade on coins that are only supported by hype, it's very risky if you don't use stop loss.