Stop-loss first or position size first: in what order do you plan a trade?

There are two common ways to plan a trade. Some traders pick the stop-loss level from the chart first and then work out the position size that keeps the loss within their limit. Others start with a fixed lot size and place the stop wherever that size allows.

The first approach keeps the money at risk the same on every trade. The second means the risk changes whenever the stop distance does.

Tell us:

1. Which order you plan in, and whether that changed as you gained experience
2. How you choose where the stop goes: a chart level, a multiple of average range, or a fixed number of pips
3. What you do when the stop the chart suggests would need a position smaller than your broker allows

Worked examples are welcome. The position sizing guide and leverage and margin cover the arithmetic.