Well I would like join the discussion...
My personnal opinion is that at the very beginning I was using the stop loss function, because I was scared to loose my inverstissement. By doing this, I was sometimes loosing money, sometimes earning money. Since I have stopped to use this function, I do NOT loose anything. I buy some crypto (in the top 50 usually) and wait. IF it goes down, I wait... one week, one month... until it recovers. But I do not sell if it dumps. I do not loose 1 cents now, it's my principles. I prefer to wait and see it dumping and pumping within the times, because we all know that your token will reach again your investment within the times.
So since 6 month now, I have reached 36k with a start of 19k in seven month by doing this way. I am really happy of my strategy and I love to play with the crypto market !
And one of the biggest trap according me is, do not be influenced by the news (even if they are not fake), explaining all improvement regarding the token; Improvement doesn't mean pump nor dump. According me it doesn't influence at all the volatility. Be carefull of that and don't get hyped, that's a trap (a find of FOMO I would say).
Patience + don t sell with loss = benefice only