The bottom line for my stop loss is 20% of the principal. Stop loss is the basic strategy of regular trading. In the final analysis, it is still desire. If you are greedy enough, I'm sorry, stop loss is not for you, and the one that suits you is Stud.
Lol bro but 20% is way far too much for a stoploss on a single market order. It means you have just splitted your account into 5 places and what happens when you trade the 4th time and lose at a roll? Panic gets into you to trade the fifth time because of the fear of not coming out of it. I have traded with a lot spaced for stop loss because I was scared or didn't like my stop loss to take me out, I even extended and shifted it and yet the price takes me out.
Just identify the trend and if you go with it, you just need a tight stop loss incase of spike. I can suggest like a percent of your balance to stop loss and you see it is a scratch of your account that will be lost if it is against you. Good luck.