I have set the weekly target of 2% profit on the capital amount which is quite easy knowing that BTC swings about 2% on a daily basis and hence it would be an easy target to achieve.
I am achieving the target but as the recent dip was a big one, it took away all the profit I made. So is a stoploss worth a try so that such big dips don't take away the rest of the profit I make ? Should I consider placing a stoploss for such a small target ?
A stop-loss order is essentially an automatic trade order given by an investor to his or her brokerage only be executed once the price of the stock in question falls to the specified stop price stated in the investor's stop-loss order. Now you don't use a stop loss for a long term investment just like the mistake you did buying and keeping with a stop loss I believe stop loss should be for a short term trader.