I think what you described it is more like issues with personal control, and researching of stocks rather than needed feature.
There are many reasons why such control of your account would work against you.
1 meme stocks (high volatility needs constant attention. Sell or buy at the wrong time and you might have significant losses)
2 (failed) takeover stocks. Imagine one day you wake up and your stock is up 50% on takeover news. or down because of hostile takeover news. After some time takeover does not happen and stock prices goes to more normal price.
3 I really love to read “risk factors” on financial reports. Basically there are many legitimate factors why share price might go down and at that point all sort of class action suits against the company would be baseless. I am not a lawyer, but I believe the company would certainly get away with something that they have warned you about before hand. So locking your shares from selling would sound like bad idea in case of one of such factors comes to life.
4 Similar to point #3. Poor research situations. Let’s say you buy shares of company xyz and later on you realize that you made a mistake by not researching what company does, how does it generate money or that from time to time it might have unlimited liability. Good example comes to mind Fukushima. No, I have no idea if a company which runs Fukushima plant is public or not, but just want to give an extreme example for illustration. After Fukushima’s accident the liabilities for such company are endless. Radiation, people who lost all sorts of property, contaminated areas, etc etc… Share price of such company would become really volatile and the company might even disappear from stock exchange.
5 your personal circumstances. There are times in life when you might need money. Marriage, divorce, child birth, buying property, sickness, etc etc etc.
I could come up with thousands of reasons why such setting is really bad idea.