If you are simply a trader, make sure you set a stop loss and follow your specific trading plan.

Yeah. That's the advice most of the time people are giving. The problem is that whales -not the steemians ones, but the ones who really move any crypto market- know where people is putting their stop-losses. That is the reason from time to time there is a huge dip or peak in charts: whales making their job.

The best advice is don't ever ever ever let any position open over night. If you are wining, just close it. Tomorrow it will be another day. And it is not a mandate to be in the market.

I am a long term investor in Cryptocurrencies

If you are an investor, then you don't need any kind of stop-loss. You have invested because you have seen potential in that particular token.

From time to time there are news which make the price go down in huge numbers. And then, some days after, the price returns to its trend. If you had had a stop-loss you could have lost a great opportunity because now you must purchase them at a higher price.