Stop loss is very effective only when you know how to use it rightly. If you're yet to understand how it should be used then you abstain from using it before the whales use it against you and then you'll regret ever using it. This though shoudn't discourage the use of stop loss orders because without them, you'll probably blow your trading account.

To avoid regrets don't set stop loss too close to your current coin price as a flash crash can be initiated just to wipeout the stop loss orders, this crash are fake dip mostly caused by bots/whales. Your stop loss price shouldn't be fixed and it doesn't have to be in the negative value range.

At first when you initiate a trade, the stop loss could be set at -10% (depending on how much you're willing to lose) but as the coin continue to increase in prices, so should your stop loss and in this way you turn your stop loss into a take profit order and this prevent you from losing on a trade.