set a stop loss on stocks / mutual funds?

[B Buddy]

I recently bought a bunch of stocks and emerging market mutual funds. What's a good stop / loss in general on these things, if any? I noticed I can do limit orders on my stocks, so I could possibly put in a limit 60 day order to sell on each indiv. stock if it goes down 5% or more of the original investment, once every couple of months (or not). Since emerging markets can be high variance, is it possibly a good idea to set up a plan where I sell if they go down 5% and buy back if they go down antoher 10% or something like that? Maybe I just need to go through each stock and identify a sell point, and update it weekly or monthly or something. I'm basically a long-term investor and I can handle some variance. I'm sticking with a stop loss tentatively on my ind. u.s. stocks while I'm learning the ins and outs of the stock market a bit better, but I don't have any plans right now for a stop loss on any mutual funds. I have about 20 different U.S. stocks, and around 8 different mutual funds, 1/2 which are emerging markets.

Any tips on limiting / managing your losses?

Thanks