How do you set a stop on a chart you can't read yet?

Beginners are told to put stops at "logical levels", then realise they can't yet see logical levels. In the meantime, a fixed-distance stop or an ATR-based stop keeps losses bounded while the eye develops.

How do you set a stop on a chart you can't read yet? — support and resistance diagram
Price bouncing between support and resistance

What did you use before you could read structure?

  • fixed pips, a percentage of daily range, or ATR
  • how you chose the number
  • when you switched to structure-based stops
How do you set a stop on a chart you can't read yet? — pip movement diagram
How a pip moves the exchange rate

The ATR guide gives a method that doesn't need pattern-reading skill.

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