[torero]

If you have the discipline in place to consistently use stops, then mental stops are ok; this is why I say only experienced traders use them because they already have the discipline to cut the losses when it's time to the pull the trigger. For people like us, who still require the discipline, physical stops are a must. When we will the mental stops the slack from time to time. But those are the times we lose more than we like, bigger hole to get out of.

The best way to find the stops is to use pivots (higher highs higher lows and lower highs lower lows) I mentioned in other threads I posted today. I usually place my stops just below the previous low pivot for longs and previous high pivot for shorts. Research this for yourself and see if it fits into your plan. If you have tight stops, move to a timeframe where the low and pivots are closer together to your range of stops. But keep in mind, the lower the timeframe, the more difficult it will be, you have to keep higher timeframe in mind on direction.