With day trading tight stops almost always get taken out in the volatility.
Do I always sell my stock at the exact moment it hits my mental stop? No sometimes I still wait for a bounce to get out. In rare cases if I really like the stock and it bounces back I may still hold it.
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That mental stop is sending me a signal that the trade is not working and that I should be getting out.
So why not a hard stop?
Because the MM can see my hard stop.
Drop the price quickly and steal my shares then bring the stock back up higher. Yes they do this. twitter.com/MasterBJones/s…
