I think both viewpoints are valid, depending on the leverage and risk you are comfortable with.
A legitimate trading technique emplyed by some is to trade very shortdated derivatives at or just otm. These can be so volatile that controlled stoplosses are impossible.
Traders in this discipline (should) simply cut the size of their trades to a point where a potential 100% loss is manageable.
It isn't for everyone and I observe that the majority of traders seek more conservative risk/reward matrices and are able to use conventional stoploss techniques.
