A -80% drawdown isn’t a bad trade. It’s a choice.
When you’re trading new pairs with a smaller port, stop losses are 100% required imo.
The absolute worst thing you can do is buy a new launch, walk away from your screen, and just assume it’ll be fine. You'll probably come back to dust in less than an hour.
Capital preservation is the only thing that keeps you alive to play another day. It is infinitely better to take a clean, calculated -30% hit than to become a holder in a dying chart.
Set the stop. Protect your capital.