The best stop loss strategy is to keep your money in your pocket instead of gamble it and throw it away in a high risk market where you will end up losing it all, maybe not today, neither tomorrow, but definitively someday.
You won't lose your money if you trade and take profits. For example, if you invest $100 and your trade goes up 40%, take back your investment and trade only with the profit you made. That way you won't lose anything if the market turns around and you get liquidated.
As for stop loss, it's a useful tool if you know how to use it. And by that I mean that a user have to know how to "read" the market so he knows where to put a stop loss. For example, if you go long on BTC and support is at $10750, you don't put stop loss above that price. You put it below that price. That way stop loss will protect you if resistance is broken and the price goes down.