To confuse things this is commonly referred to as a stop loss order. Which also uses the stop order type.
This will allow the position to be closed if the trade idea doesn’t work out and exit the position when the stop loss level is reached.
Obviously, this means you don’t need to screen watch and simply “check in” on your positions.
I want to be managing profits and certainly not baby sitting underperforming positions. They will take care of themselves.