[Dan Mezick]

In my view there is no stop that is not an actual order, to sell at a predetermined lower price.

I use immediate, actual stops after every order fill.

Sometimes I scale the stop-loss selling, for example if the lot purchased is large, and/or the shares purchased are thinly traded.

As soon as you take a position, you are a member of the crowd.

Crowds are not known for effective and efficient decision making.

I consider it very worthwhile to read THE CROWD by Gustav LeBon for purposes of studying as a serious market student.

This book explains the primitive nature of crowds and is a great read.