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I think it also depends on how your risk profile looks like. I use different TA indicators, like support and resistance, 10, 20, 50, 200 MA, Bollinger Bands etc..
Don't set your stop loss right at those indicators otherwise your order gets triggered more likely since everyone else sets their stops right at these levels. I always choose to set it a nickel or a dime below those levels (depending on the share price).
Also one of my rules are, that once I am in the green with a trade, I will NEVER allow this trade to turn into a loss. I set my stops/limit orders accordingly.
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