There is no rule of thumb when setting stops or take profit's but generally you will want to keep your risk to reward a minimum of 1, preferably 2 or higher In case your not familiar with R:R, it is how much you intend to risk vs. how much you intend to gain, An R1 would mean you are risking as much as you intend to gain An R2 would mean you are targeting twice what you are risking These are controlled by stops and take profits. An R1 would mean your stop and take profit are equal An R2 would mean your take profit is twice your stop loss