STG entered at 0.62 in the morning, with a stop loss at 0.56, then found stabilization at 0.55 and re-entered, seeing a breakout of the previous high and immediately withdrew.

Initially, I wouldn't set a stop loss; I would hold on stubbornly.
I bought in at 0.62, didn't stop loss when it fell, kept holding, and even added positions, thinking I could lower the average cost, and if it rose, I could earn more.
After three bull and bear cycles, my spot trading system is now fully developed.
For short-term trades, I absolutely won't add positions; only stop loss.
Actually, entering at 0.62 and holding until it drops to 0.55, then selling at 0.69, or stopping loss at 0.56, or entering at 0.55 and selling at 0.69, the results are similar, with one more trade added.

But there is a fundamental difference: the former is holding stubbornly, very likely to hold to death, which shows a lack of a proper trading system.
If there's a sharp drop and no stop loss, you'll fall into endless adding positions and losing money, eventually breaking your heart.
The latter approach is a manifestation of having a trading system: strictly executing stop loss, avoiding losses from expanding if it continues to fall, and re-entering when a signal appears, while also setting stop loss and take profit levels.
The outcome looks the same, but they are two completely different levels of understanding and execution.

My past self lost a lot, even ended up at zero, suffered many losses, and finally learned to strictly stop loss.
This principle is the same as trading futures, just without leverage.
‍$STG