Yes, the bot will sell when your stop limit is reached even with all the other settings exactly as they were when the bot bought. Panic sell is only to be used when you decide you want to sell your altcoin NOW, no matter what the price. Panic sell, if you forget and leave that to true after using it, will definitely prevent future buys, and has nothing to do with configuring the stop limit. The stop limit could be said to be a "thoughtful sell"- ie, without the "panic"- not that the careful trader won't make use of "panic sell" on occasion. Panic sell should be off at all times unless you are committed to an immediate sell- with no filters or conditions applied.