Place stops based on current volatility, not arbitrary dollar amounts.
ATR (Average True Range) measures average daily price movement. Placing stops at 1.5–2× ATR ensures the stop is outside normal price noise, reducing the chance of getting stopped out by random volatility rather than actual trend reversal.
ATR values can be found on any charting platform. For day trading, use the ATR of your timeframe. For swing trades, use daily ATR. The standard multiplier range is 1.5x (for tight setups) to 3x (for wider swing trades).