Stop loss is a protective trading tool that limits the risk of any trader in trading positions. It's good to use it even though some people argue that it's not necessary and could give people bad luck of getting hit while the market still goes back to the trader's position.

As painful as that is, it's not happening all the time and one thing that is sure is that the stop loss is more good than evil, that's if it's evil at all. There are times it would truly save your trading account and you will be so happy, but there are times that it would save the trading account but people think it's bad because the market goes back to the direction of choice. But in honesty, in this case, the stop loss has done its part, it's the trader that should monitor the trade and act accordingly afterwards.

This is why the following points might help and we must know that nothing is perfect in trading;

1. Plan your stop loss in line with your trading strategy. You can use a fixed stop loss or varied ones depending on the strategy you use.
2. Use tight stop loss around price action and S/R level only.
3. Use a loose stop loss when you are trading long-term or when you are not monitoring the stop loss in case the market goes back after hitting it.
4. Do not leave the work alone to stop loss, monitor your trade and act according depending on the situation (enter the position back if need be).