What is your take on TradeStops.com and the amazing tool that it seems to be? I have done some research, and it seems to take the BS out of any stock advisor's advice.

I'm not a fan of stops. They're mainly a trading tool rather than an investing tool. The ONE exception to that for me is when people are up a lot % wise on their position and don't know what to do. They don't want to lose all of their gains, yet they're willing to see if they can get more gains. In that case, one can sell half of their shares to ensure some gains and to place a stop near breakeven on their remaining shares to attempt to ensure no loss on the remaining shares, yet have the potential for more gains. But much of the time, you'll find that outsized gains that aren't captured (locked in by selling) usually evaporate away before your eyes. This technique helps to ensure no overall loss and to preserve at least some of the gains made. But read books by great investors and you won't find a "stop loss strategy". Why? They don't have one. Stops are generally a trading mechanism. They're also a way for the market to gyrate just enough to stop you out at losses. Also, many argue (in trading) that market makers gun for your stops because they know where they are on the books.

So how to real investors manage risks then? Buy fundamentally strong companies and place no more than 5-6% in any one stock (after all 3 rounds of investment are accounted for), which is also the final way: averaging down on only the strongest of companies, fundamentally. You'll find, Warren Buffett and other professional investors use these types of strategies. Also, remember...stops haven't always existed.