Stop loss has saved a lot of trading accounts, it is a crucial tool in trading and it is being used by traders that are managerial in nature. I have heard many traders arguing that they trade without a stop loss, but most of them often come back to share their regrets.

It is a matter of time, if a stop loss is not used, the account of the trader will always be lost. To some, it takes days, months or even years. A good trader will always use stop loss for protection's sake, it helps in precalculating the traders' risk, and gives the clue on how to balance the risk with a good reward to make good risk management (risk to reward ratio).