They say 10% below your bought price is good when you set the stop loss. Because if its 5%, there are times price drops suddenly at 5% then recovers after a few hours specially when the coin is very active and traded heavily. If you have time to monitor your investment and spends most of the time in front of your trading dashboard, I wouldn't use stop loss. I will decide myself when to sell as much as possible. I will only use it if I will not have control of my investments or I am away from my PC or laptop for a day or more.