In the current issue of the 2+2 Magazine, Mark Blade discussed specifically why
Money Management is a bogus concept . Give it a read -- it might be enlightening for you. In general, it sounds like you're discussing tilt and how to avoid it; if you find that losing money makes you tilt, then a stop-loss strategy could easily be profitable for you. Note, however, that it's not making you money by being good "money management" but rather by stopping your tilting.