I don't care if you use 7-8-9-10-11-12% stop loss stops...it's whatever your risk tolerance is. But use stops. I've seen too many people think..that a stock they bot at $30 is a better buy at $15...and they double down..and the stock is junk.
Anyway, I have never gone wrong holding stocks for the long haul. Pick them carefully and hang on to them.