Yes, I've been using that strategy when I'm about to sleep and and bought a coin it's a good way to control your lose or to avoid losing at all but you should consider on where you wanted to sell your coin since you might miss the opportunity to sell it at a certain point and it goes back to the limit you've set and so you just have wasted an opportunity to earn a certain amount.
I think the reality will not happen in this scenario because investors often want to make a bigger profit from this market and certainly you will be difficult to apply this strategy. I used to have the same thought, but when you do, everything is different and you will risk more. In my opinion, investment is often uncertain and a better plan is needed for asset management.
