It sure can be depending on your definition of trading, amount of capital committed, time frame, amount of capital available ... I'm not preaching irresponsible trading with no stops ever but coming from a big cash position, I've found in the past that it typically is riskier on the missed opportunity side waiting for the perfect setups to buy than just SLOWLY scaling in to some longs (up to your max, which should be small with such an approach) and 'stupidly' waiting for the market to pop back up. You'll be underwater from time to time but it won't be too painful because you won't have too much capital on the line. That approach is just a small part of trading for me but I do do it and it can be less risky than someone out there accumulating a lot of paper cut stop losses, in the long run. Your mileage will vary.