Lessons from a short $BTC long last night

Last night, I saw $BTC looking like it was about to breakout, so I decided to go for a short long. But I didn't set an appropriate stop loss, hoping it would recover. In the end, it kept dropping. I had to sit and watch, then manually close the position when it reached an acceptable point. This is a good lesson that no matter how confident you are, you must always have a stop loss.