100%. It can be a painful lesson to learn!

But what if you get stopped out of your position and then it goes back up? It's not a free lunch either way.

Well "There is no such thing as a free lunch" ever, as the saying goes :)
Stop loss is only a tool to balance risk taken on any given trade.
Technically speaking Take Profit, Position Size, Leverage and Stop Out Level all factor into your risk-management.

Yeah I agree with you there will be times like that. I guess if you were using a stop-loss strategy it would be more about surviving situations that would destroy your portfolio.

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