It is not wrong, per se, to use large Stops, as long as there is good money management behind your choice of Stop, in terms of pips. For my longer-term trades I often use large Stops. It is not the size of Stop in terms of pips that is an issue, it is what percentage that represents of your account. I risk 1% per trade, every trade. Many on here advocate more than that, but rarely more than 5%. As long as you have a consistent plan with limited risk per trade then many options can be made to work.
However, in my opinion trading without a Stop is not a sound basis for a long-term trading plan. You say that you only intend to trade stable currencies, but that is what most of us on here aim to do, surely? By no means everyone on here is profitable all of the time, yet we don’t seek out erratic currencies or poor market conditions.
You say that you can cover the temporary loss until Price comes back in your favour, but what if it does not come back? Even stable currencies can have strong moves in one direction that often cannot be accuratly predicted. The global recession was missed by many analysts, after all. Last year, the Euro spent months in freefall. This year, the Yen has had enormous spikes (and not just following the earthquake). These are major, stable currencies. If you trade without a Stop, or even without a sensible Stop, there is a constant risk that your account will suffer a major drawdown, and that can take a long time to earn back. That is not a business model that most people would want to sign up to, so if you want to view this as a good revenue stream over a long period of time, then I think that you need a solid system in place to protect yourself, as much as possible, from losses. That includes sensible use of Stops.
You say that once you introduced Stops every single one of your trades was stopped out. Without wishing to be overly blunt, that does not stand up as a criticism of placing Stops. That just says that you had them in the wrong place, and that this is an area of trading which you should practise.
I use Stops on every one of my trades, and I make good, consistent pips. Obviously I only enter trades that I expect to play out in my favour, and I try to trade during stable market conditions. However, I still have losing trades, but sensible risk management - in terms of the amount risked and the placement of Stops - means that the losses don’t impact on my overall confidence that I will be profitable in any given month.
Some of my losing trades, had I had no Stop in place, would have proved disastrous to my account. So while we are all different, I believe that any trader who sees this as a profession over the longer term needs to take Stop placement seriously. Spotting setups, with a little practice, is not actually very difficult at all. It is the trade management where more of the skill shows itself.
I hope you find this helpful, apologies if it comes across preachy!
ST