You will have to wait sometime to make a profit if the market keeps dipping, anyway the wait for a good coin to pump based on the bear market length of time to end and start the bull trend is 9 months, so your money is stock for several months, it wil worth the wait if you are going to make 20 to 70% profit in the bull run, then the wait is worth it.
That is not good if you want to earn on a daily basis. On that strategy you just become a long term trader. I've done it before and I just sold at loss because I needed some money that time for some emergency. I won't even suggest that strategy to newbies.
There are some cases where you end up becoming a long term trader without you knowing even if you entered the market as a short term trader, I have been in some situation where I place a buy order at a particular value and I expect some movement no matter how little so I can take my little profit, but instead if the market moving up at all, it end up going down the more.
So most of the times, I have to wait without using stop loss, till the market recovers for me to continue from that spot, but meanwhile, it is not that I am quitting the market then, as the market dip, then I still trade by buying some new coin at that point to take advantage of the current fluctuation by then, so to me, it is not as risky as you think, it is juts the strategy that works from people.