I've been involved in investing for 10 years

Because I didn't know how to cut losses, I went broke twice
But later I studied deeply and practiced a wave of stop-loss strategies, and although I didn't lose much, I also couldn't make money
In the end, I finally understood:
💥The true essence of stop-loss is: logical stop-loss; not: loss percentage stop-loss!
Stop-loss should depend on whether your original buying logic is still valid; if it's no longer valid, no matter how much you are losing at the moment, you should decisively exit!
For example, I previously lost heavily in blockchain games; according to this stop-loss logic, once I find that the blockchain game track is no longer viable, I should immediately stop-loss, regardless of whether I was losing 1% or 99% at the time!
And I shouldn't gamble on whether a certain project team will continue to manipulate the market or not. Because I initially entered because I was optimistic about the blockchain game track, and if that logic is no longer valid, I need to exit immediately!
Here's another example opposite to the above: if you currently have a long-term positive outlook on the AI track and have bought leading AI stocks, planning to do value investing.
If later, the three giants go public, causing the US stock market to crash, and you lose more than 30%, you still shouldn't stop-loss, because your original buying logic isn't about swing trading; as long as your investment logic in AI remains valid, you should continue holding!
Another benefit of this stop-loss mindset is that it forces you to think more carefully about your buying logic before entering a position.
Of course, there is a special case: if you buy based on candlestick technical analysis and set your stop-loss according to technical rules, that's perfectly fine and not contradictory!