depends if you are in it for long term or short term, if you...

depends if you are in it for long term or short term, if you value the stock $2+ like a lot of people, you probably wouldn't need a stop loss.

If you wanted to lock in profits and possibly buy in later if it drops you would have a stop loss at the point you want a minimum profit locked in.

If your average price is 35 cents you might want a minimum of 100% profit so a stop loss of 70 cents would suffice. If it drops back to 60 cents you would reinvest and ride the rise again and put a new stop loss.