Stop Losses are essential if one wants to avoid going broke.
The stupid bit is placing a conditional stop order for everybody (with sufficient access rights) to see. If a sell-down occurs without warning, it's long odds someone has triggered those conditional orders and wants to buy. Check this chart below: it's all over within 2 minutes.
SSM Price at posting:
$1.35 Sentiment: None Disclosure: Not Held
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(20min delay)