There is two significant camps of trading style. Those that use stops and the ones who don't.
There's very good reason NOT to use stop orders, since it is a frequent trading tatic of significant cash, to take your stop order, for their own profit. BIG cash are are gamers who's money really moves the market.
The most frequent egy is to use a plogical stop, which operates well, if you're there watching the market and disciplined enough to follow you egy. Many do not. However, of course, being glued to monitor day and night, is a rigid weight.
While you may not use them, whether you use stop orders to guard your new position against loss, or as a means of protect your existing profits, it is a vital egy to have in your arsenal. ESPECIALLY in the event that you want to have the ability to leave the track, or sleep nights.
If you have never done this until USE your demo account to experimentation. When you place a transaction, you have the option of also placing a stop and limit order. Furthermore, if you put in a trade with a market order, you ALWAYS have the option of adding these contingency stop and limit orders, later.
The nice thing about connecting the stop and limit orders to your position, is that if any one is struck, then the other is canceled. ALSO if you shut that place with a market order, then the stop and limit orders linked to that place are automatically canceled. Nice. Huh?
Lets use 20 pips as an example. You enter the market and have a position. You link a 20 pip stop loss and a 20 pip limit order for your position. Once this is done, you can walk off. Either one of the two things can occur, depending on how the market moves. Either you're going to make 20 pips or you're likely to loose 20 pips.
Of course that's just a hypothetical case. However, you get the idea. When you begin trading like this, or at least learning to exchange this manner as a workout, you're pushing yourself, to seek out the cheapest risk entry points, which is ALWAYS a fantastic thing to do.
The large upside to learning how to exchange this way, is you're become MUCH less likely to make gut decision based of the feelings of and greed.