too tight stop if you want to catch a $0.3+ point move. or need be more patient to wait for the exact setup, in that case, even 0.03 stop loss can not be stopped out.
stop loss is a good tool to manage risk, but can not be overused to some extent. it has its own merits and shortcomings. looks like you are doing scalping, in scalping, stop loss does not make any sense, since there is no time to consider where to put stop and the market moves very quick, in this minute may up 0.1, in next tick, it may down 0.2, put it another way, in very short period of time, the move is very random. so you need limit order to get in and get out, then put a stop loss for protection of disaster loss (major support/resistance, you have enough time to study where they are)
good luck
stop loss is a good tool to manage risk, but can not be overused to some extent. it has its own merits and shortcomings. looks like you are doing scalping, in scalping, stop loss does not make any sense, since there is no time to consider where to put stop and the market moves very quick, in this minute may up 0.1, in next tick, it may down 0.2, put it another way, in very short period of time, the move is very random. so you need limit order to get in and get out, then put a stop loss for protection of disaster loss (major support/resistance, you have enough time to study where they are)
good luck
