investors carry a lot more risk than traders do... but the rewards for them through holding are potentially much greater
traders also get the advantage of compounding though when they are correct... but it can also be a double edge sword if you are wrong and buy back in higher where the compounding will actually work AGAINST you instead of for you.
it really depends what you are comfortable with. i always set a stop even if i consider my viewpoint as 'investor' on a certain stock (by virtue of the fact i think i can get a lower entry point). i use certain momentum indicators to guide my entry/exit points too aswell as certain angle lines.
seems to be working for me on average.
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