I'm a newbie trader, I lay the fav in play, my question is simple if the fav gets a second wind or the horse in front falls and the price comes in dramatically before I've greened out is there any way I can put a kill on my bet when a certain price is reached, to ensure I don't lose any money

I don't wish to use stop loss as I feel I've been burnt using that before.
I'm guessing I already know the answer but I'm hoping an experienced trader will have knowledge on this and be willing to help and potentially save me money.
Regards
A newbie trader