but there's no 'one fits all formula'. Not even 'one fits most of them', for that matter, that will work for me. Maybe I'm too impatient for it.
They say another man's meat is another's poison. I think stoploss is still preferred. Putting your stoploss target very close to the price on entry can be a reason for the problem. So reducing your risk appetite and extend your stoploss is helpful , being a haste for profit can hurt your stop target often because of volatility hitting you out.
If you are a trader you must rely more on the stop loss.
Why? Because I believe there's a lot more opportunity to trade in the future compare to holding it and another thing, most traders have a plan before opening the trade, entry point, target exit, stop loss. And some are considering the risk:reward ratio too.
This I believe also. Stop loss is the surest trading strategy for trader. Despite it takes a trader out but you have another time to get it right. Taking a good shot at the market at appropriate time will give you peace of mind, extending your stoploss is far a little from the price is the way on stoploss. If you don't use stoploss, your account is in big risk especially if you taking bigger risk for profit.