SL depends on your capital and also on that how much positions and also on size of lot ...and also you should think that how much you can afford to loose ...so if you are opening a small lots and not too many positions, then you can afford to apply SL at 50 pips ...but if you are opening a bigger lot, then you need to apply SL at 30 pips , so that you can reduce your losses...so applying SL is very important at proper place....
and I dont consider it appropriate to fix that we should have stop loss at that many ****, but we should find out a level which we fill is difficult to hit so that there are lessor chances of our trade running into stop loss and chances to book profit remain more.


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