Stop loss

This is a way of protecting ones account from liquidation .

It is putting a setting that when price goes below a price ( for buy trades ) or price goes above ( for sell trades ) , you exit the trade at that point . It is a necessary thing for trading cause the crypto market is
No one’s business and the market can easily move against one in ways one doesn’t expect

To avoid this, stop loss comes in place . This gives one an opportunity to go back into the market again and an opportunity to earn again

So this is something every trader should use regardless of how confidence you are in your skills and knowledge. The market can always at different point show its superiority