depending on how much you have in your account is what you should base your stop loss on as well as how many lots you have in play. the other part is also what tf your are basing your trade on. the larger the tf, the bigger the sl. the smaller the tf you could go 10 or 15 on your sl, the bigger like 4hr, you probably need a 50 if you plan to get in and let it run for a few days. do not forget to move your sl to b/e as soon as you can, then keep bumping it so that you make pips. never let it run, you will get burned. also set your tp goals as well. this is a volitile market, so maybe look for smaller pips gains and a few more trades instead of trying to ride out for a home run trade. things need to settle down and that will take a while, probably until next year when you can make huge pips gains on a trade, but then again, maybe next week something will make the market freak. just a suggestion on my part, you will have to make this decision yourself. i say start small and when you get confident and have made trades and know how to read the signals as well as possible, then you can widen your sl. you will get caught once in awhile, but it will be because of some freaky news or geo-political nonsense that will get you.
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