Got in a discussion with a friend that recently started learning Technical Analysis and then he said he trades without using stop Loss. I told him no good trader trades without stop Loss. I tried to explain to him about the volatility and how trades can go against you especially as a new newbie and you can lose heavily. He seems adamant and I decided to leave him maybe he will learn from his own mistake if it happens. It seems there are also many traders that trade without stop Loss and I wonder how they do it conveniently.
Please share your views on how important stop Loss is and how convenient it can be to trade without stop Loss.
The importance of Stop Loss, is usually very varied, there are many who do not use Stop Loss to stay in the market, for example, if I have a market entry in LONG, I protect this entry with a "Leveraged Short" this forever protect myself against the movement of the market, this is how Jesse Livermore operated in the years 1800-1900, although now there is a lot of technology to do it through bots with artificial intelligence, it has been proven that those who are always in the market are more likely of win.
However, Stop Loss is good to use when there is no similar experience, since it is preferable to lose a small percentage that gives the "Stop Loss" than to lose everything.
It is difficult to be in the market with both operations if there is no help from bots, because each movement must measure the degree of profits and losses, there are many things that must be taken into account.