A normal question in the minds of traders is whether they should leave the stop loss as a flexible range or make it a rigid level and impute it in the trading discipline. Remember that for a trader stop loss is more of a necessary discipline and hence it integral to his trading activity. It is always better to opt for the setting of a stop loss at the time of putting the trade itself. Setting a specific stop-loss instills a discipline in trading and the execution happens automatically when the stop loss gets hit. When it is discretionary, there is the human tendency to wait a little longer. That lack of discipline can be dangerous in a volatile market.