EURUSD
Sergeant Major
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So might will better if using stop loss strictly isn't, because it will boosting more chances to open new trades with new analysis, trading without stop loss as trader also need ready with last consequence if might could facing with margin call50% wipe out is only half as bad as the total wipe out no SL would likely have led to.
But, you are right, SL's can't provide good protection against big losses if they are too wide.