I see a lot of traders talk about setting tight stop losses. The problem with this is that you can get stopped out + incur a fee for the stop loss. Managing exorbitant fees can get pricey, especially if you're day trading or utilizing arbitrage. The easiest way to trade is to find exchanges that offer the lowest fees for buying, selling, utilizing stop losses ect. Right now Nauticus is offering .001% fees, so this is an exchange that you could potentially utilize (
https://nauticus.exchange/). Also, it is important to watch out for people on twitter claiming to use TA's. I see a lot of people constantly changing their TA's every hour. This isn't "Trend Analyses", but rather guessing...
Stop loss meaning limit that you can't break, the purposes is to protect your asset from bigger lost. This fitur use it depend your money management because every strategy have different target to out, so calculate with true data is very important. Use your mindset to see reality not just dream, reality will create understanding that X factor always there.