Successful traders use wide stops because they know the natural daily price fluctuations can stop them out before their positions get a chance to take off in their favor. (learntotradethemarket.com)
You can't survive without a stop loss, but they can, or at least they can for much longer than you or I and this is why day trading is dangerous; because traders put very small / tight stop losses on their positions they often get stopped out by normal daily price fluctuations in the market. (learntotradethemarket.com)
This allowed them to be unconcerned about daily price fluctuations of the spot price. (investopedia.com)