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Honestly mate, in 12 years, I have yet to meet one, just one professional trader who does not use stop / loss orders on swing trading. Anything more than day trading - which moves too fast to really set a stop / loss order (which is also why so many amateur traders do not do well day-trading. It takes a ton of emotional discipline to be 'your own' stop / loss order)
When I speak of risking 2% - that's of your account size. Not of the daily move of a stock; which is a percentile change in it's own price. It all comes down to money management principles, technical analysis, and understanding volatility vs. price movement and time. One of the first tenants of money management is understanding, controlling, and limiting your risk.
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