Why do we have to set stop-loss and take-profit?

For example;

If the US does not cut interest rates, you are in China during the day and have nothing to do at night.

You stay up until 2-3 o'clock and fall asleep in a daze. Suddenly, at 4 o'clock, a news of an interest rate hike is released.

You are still sleeping. When you get up, it is already 6 o'clock. You have lost 50%.

At this time, if you set a stop loss, you can lose less.

What about stop-profit: When you are asleep, the market is still fluctuating.

There are several short-term pull-ups, and one of them just happened to be pulled up to your stop-profit position.

Not only did you not lose, but you also made a small profit.

The habit of setting stop-profit and stop-loss is to prevent the dealer from stealing your home in your free time!