Yeah, no magic, all just names that different people have given to the same/similar chart patterns they've observed, for descriptive convenience, marketing, whatever purposes.
"... exit points can be set at previous resistance or support levels, which allow you to minimize risk ... These exit points are called stop losses." Methods of a Wall Street Master, page 77 "By setting a buy stop at 644, then your risk was 4 points above your entry point." Trader Vic II: Principles of Professional Speculation, page 149
I had to dig the book out of my archives. If the book you are referring to is Methods of a Wall Street Master he recommends placing your stop where the market proves you wrong. There is no fixed spot or percentage as each trade is unique. Just know before you enter the trade where the market will prove you wrong. Thanks for mentioning this book. Looks like it's worth a re-read.