The only thing that can change is the key features of exchange and the introduction of new features such as the now known stop lose features on some exchanges it was not there in the time past.
But nothing much has changed in trading it still has the old traditional way of doing it.
Stop loss was a big help, a lot of people would have lost a lot of money if it weren't for the wonders of stop loss, I mean not everyone is always watching the market 24/7 so it's a good thing that we have that kind of feature so we can rest easy that we won't lose everything when we look the other way. I definitely agree that there's not much that has changed all this time when it comes to trading, it just looked different because people have different if not unique approach when it comes to trading that it's sometimes distinct to only one person.
but if a person becomes a full day trader, then he can use cutloss, because there is often a lot of time to monitor the market. between cutloss and stoploss is very useful for cutting losses from a trader. if they don't use it then it's like trading in the style of investment, and the results are less than optimal, because there is no discipline from the analysis