Stop-losses are good for people who are trading/don't understand what they're putting their money into. A friend of mine followed my advice on some stock purchases (told him not to do what I say but he just did it anyway), sold out on hitting stop losses. Asked him, "What are you doing? Why would you put a stop loss on a stock like this?" He eventually bought back in on one stock at a premium (20%+) and is now up near 100%.
I also don't trade; most people don't make money trading so why bother imo.
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