Exactly. Mental stop is what I use. Unfortunately, mental stop requires personal discipline which is in short supply in most people, including myself.
As an example, automatic stop would have taken me out on mnta, since I am currently sitting with a 12% loss and 10% is the "common" trigger for stop loss.
However, not only did I not cut bait on mnta, but I have been actually averaging down : the anti thesis of the automatic stop loss rule. You just don't pile in on a loss.
But then there was the recent news of Druckmiller retirement and I did learn a lesson from him.
News 
Market Data 
Discover 
AI
