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 ?
If you keep an eye on the account and practice day trading without leverage then stop loss is not necessary. I would not use it in these conditions.
Not necessarily we used stop loss strategy if we are focus on trading cause we can always check it's market trend of a certain coin. But if you're not into full-time trader, using this one will be helpful to prevent from losing badly. But only few of us were doing these since we can either not to sell our coins during dip unlike for those who wanting to get their funds.