Where should I place my stop loss?

Place the stop where your trade idea is proven wrong, not where you want to limit the loss to a certain amount.

• Use market structure: beyond a recent swing low for a buy, or above a swing high for a sell.
• Add some room using ATR, so normal noise does not stop you out.
• Avoid placing it exactly on an obvious round number.

Then change the position size to fit that stop, not the other way around. And never move a stop further away after you enter. You can move it to reduce risk, but widening it is how small losses become large ones.