What is the best stop-loss strategy?

When it comes to trading in the cryptocurrency market, many investors are looking for ways to minimize their losses. One common strategy is to use stop-loss orders. But what is the best stop-loss strategy? Should you use a fixed percentage or a dollar amount? Should you adjust your stop-loss as the market moves? And how do you balance the risk of being stopped out of a position too early with the risk of losing more than you're willing to risk? Let's dive into these questions and explore the best practices for implementing a stop-loss strategy in your cryptocurrency trading.