It's not dangerous on liquid stocks. This stock has clearly defined support and resistance levels all the way down. I simply told my broker that if the stock traded to a certain price to dump it. I use a full service broker for that very reason. He has been trading for his clients for almost 30 years.
I also use trailing stops on stocks which are trading higher along with GTC orders to sell at extrapolated resistance levels. If the stock doesn't hit the target price each day and trades back lower, it gets taken out by the trailing stop.
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