.... EWT allows you to set objective stop losses, rather than subjective ones, which in my opinion is a great asset to have.
I agree. Thats very true.
EW allows a trader to set a logical stoploss, unlike those used in conventional TA like a fixed %, n bars low, x% below High/Close, etc.
We can be confident of our SL. If it triggers, then we might be wrong in our interpretation about market position. May be it will just adjust our position or will make us to reevaluate our counts to some extend.
I'm not aware of any such SL mechanisms which is better than what EW offers.
Praveen.