Stop loss level?

[Rev. Green]

What is the best level to set a stop loss for shares?

I've been setting 67% of the purchase cost for shares I'm fairly certain will recover, and 80% for others.

With the market being so volatile this seems to guarantee that I'll lose at least 20% of my money!

[factor-fiction]

Does this mean you sell when the price falls to 67% or 80% of the purchase price? Isn't this a good time to buy more?

[Rev. Green]

I'm new to share buying. Yes, I've been selling at 80%. I thought that was how a stop loss operated. I sometimes buy back at about 50%.

[Uzoma]

I tend to set a trailing stop loss so that if the price goes up I can still take advantage of the increase. A trailing stop loss means that it will sell if the price drops FROM ITS PEAK by (using your example) 33% or 20%.

[Rev. Green]

Yes, Uzoma, I'm using trailing stops, but I'm not sure what is the best level to set. Too high and they almost guarantee a loss, too low and they are ineffective.