to stop or not to stop?

I keep going back and forth between using stop to mitigate the risk and to not use it so I won’t miss out on a gain.

In the past, I had lost money because I didn’t have a stop in place.

On the other hand, a recent experience of getting stopped right before a big movement made me reconsider this policy.

I had a stop order for STLY(3.88 0.00 0.00%, ) that got filled on Monday (07/14) at 10.30/share when the market gapped up. I missed out on 20% gain because of that. It closed at 7.22/share today.

In order to know when to get out of a position without a stop, I need to be certain that the stock is no longer overpriced because the underlying business is improving and its earning power is growing.

For now, I think I’ll try not to have the safety net (stop) and focus on news to inform me when my reasons to stay short become invalid.