You are very lucky today, now the price of Bitcoin is $ 6500, whereas you are buying the price of $ 5200, so now if you sell it already has a profit of $ 1300 enough for you to buy something useful.
The strategy you are doing is right.
Thank YOSHIE
$ 5,200 was an example.
If I buy BTC at $6500 and I immediately place a stop limit of $6500 does it work or is it impossible?
It will work as always if you do not want to lose any from trading. The good thing about the strategy you are making is you will never lost in USD value and there are chances that you will earn if the price increase. The only problem is you need to monitor that always so every time your stop loss filled then you can set another one with a new target value.
You need to always watch your trade since there are times that it always filled the stop loss you set and its so hassle for others.