I know for a fact that some traders, especially at prop firms, do not use hard stop orders but exit the position manually instead. Now, how is that reasonable from the risk management perspective? I am talking not only about the market risk but a simple technical issue of losing connection to the exchange. Sure, you can always phone your broker but first, it takes time, and second, what if they do not answer for 10 minutes because there might be just one human on the desk trying to handle a…