Stop loss is extremely useful in isolating risk to avoid wiping off the entire account in an occasion of a nasty trade an honest trading strategy should have at least a risk to reward of 1:2 with a decent stop loss, however thanks to the high volatility of costs in recent times prices do hit stop loss before delivering the right direction while some traders prefer not to use stop-loss keeping in mind that despite the drawdown the price in most cases returns to its winning levels.