DON"T use stop loss orders!!!  You can use a stop order CONTINGENT on certain conditions being met and the market makers can't see your sell price. They can see all other sell and buy orders and will stop you out every chance they get~~~if you are going to use stop orders...ONLY use contingent orders!!

I learned this the hard way also. Here's what I think happens - "stop" orders are visible on certain trading screen levels so your stop order can be targeted by vampire Brokers/Traders who specialize in this blood sucking crap. I've seen examples where stops are hit as much as 10% below the last price. It usually happens to low priced / thin volume stocks that can be manipulated easily. Take a look at some of the small junior gold stocks after the close - the bid and ask spreads are as much as 10% on either side of the closing price. How do you place a close stop? Who sets those and why? I assume it is to catch any market orders or maybe stop orders that are placed by traders who haven't been burned yet. You would think that the SEC would gut these slimey shills.....oh, I forgot - the SEC staff is made up of the very best slimey vampire broker bastards. So, sometimes stops can work against you on small stocks. It may be worth a call to your broker to have them take a look at the price action that took you out - they may have some suggestions to help.

If NO capital you can't make profits to protect...lol!

Stops will save your account from total destruction often...think of recent BP action to the downside and imagine if you were in it when it collapsed.Big losses are hard to comeback from so protect your capital.Matt and Steve say take  half profits etc  because they know you can slowly build up an account and home runs are rare just like on the downside you can take small losses but single big losses  are account destroying.

Use stops and you will live to fight another day !