Opposite from the common and widespread belief I trade and would suggest trading without stop loss orders, only in certain situations. If you are a scalper or a day trader.
For day traders, this means you are not allowed to hold an open position overnight. When the trading day is over, you must close all of your opened positions, no matter if they are in profit or losing ones. Practically, this is some form of a stop-loss order if your position is in red, you close it at the end of the day and avoid the next day to go even deeper into the red zone.
As for scalpers, they don’t need an SL or TP order because they monitor the trade and can take action immediately if they notice something going against their plan. Usually, their trades last a few minutes, so it’s even recommended to trade this style without SL orders.
In all the other situations, and trading strategies it is recommended to use SL orders, but one should educate himself how to properly identify SL levels to give their trades enough room.