DislikedDepends on your Time frame. I know a few scalpers who work with 7 pips and other longer term people work with 100-200 pip SL's(depends a lot on market conditions, risk reward ratio etc).
SL is an art form, takes time and experience.
I would probably go with SL below support in Longs and SL above resistance in Shorts. Thats the very basic.Ignored
I usually scalp and work with 5min charts. However, that was with stocks in the $2 to $5 range - $0.10 stop loss. Movement is also slower.
But I realised that that may not exactly work with EURUSD.
I guess I would have to play around with smaller sizes till I get a feel of it.
What I prefer about Forex is that it is not manipulated by a few.