it depends on your strategy, i prefer to set stop loss and take profit
for being "SCARED" that means you don't accept loosing trades in my opinion don't let your emotion control your thinking in Forex
Since you are using an EA to trade, you can hide your SL from your broker, using a virtual SL or a DD% as an exit option.
But never trade without any sort of SL, unless:
If you are using a large percentage of your capital in trading , be careful.
There is no "one size fits all" in trading.
You will find winning traders who set stop losses... you will find losing traders who set stop losses.
You will find winning traders who don't set stop losses... you will find losing traders who don't set stop losses.
You need to find what works for you.