Changing the limit order multiple times on a bullish trend?

To maximize profits or minimize losses, there are many methods an investor can use.

One way is to use a limit order. This strategy means you put a limit to a price you'd pay for a stock or accept.

For a new limit order to come into effect, you must stop the old order.

But, there's a downside of a limit order if you don't watch the market keenly.

Say you set a sell limit order of $40 for stock A, and you forget about it, then it sells once it hits that price. Say you make a 10% profit from this.

But then you check the stock price and realize it's selling at $50. You will have sold early, and the limit order was of no help.