Just what he said, but remember, your stop order will be executed AS MARKET ORDER, so you might end up selling your STOP at far less than you imagine. This is due to two reasons, one is that the orderbook is thin and the distance between buy and sell walls may be large. The second reason is that your stop order may be not the only thing executing and other stop orders and market orders amy take priority, but we will never know for sure as mjr refuses to discuss or reveal what is the order priority processing. I had to find out by expensive trial and error. The third reason is that the size of your order may cause undesired slippage on thin orderbook walls.

That's it. Wait, no, it is not. You have the buy/sell fees and/or lending fees and if you look at it: 0.4% on both way limit/stop orders, so, your method of making a stop order at 1% gain will almost certainly lead to a loss. Work with 4% movements at least, even 2% movements may not cover the common losses.