For day traders, the stop loss should be tight in order to manage the risks very well. For me the ideal invalidation level or the stop loss level will be -4%. If our bias didn't happen then it is better to cut our loss immediately in order to protect our capital. Having a stop loss is not required but it is important especially if you want to be a better trader. Discipline can build by following our stop loss so it is really important to have stop loss because it is part of our risks and management.
Stop loss should be in line with the risk, you don't need a tight stop loss with just single % of risk, that is very futile in the eye. Stop loss is what we really need now, especially when trading futures where you can get winning more than what you risk or lost what you have, stop loss is playing a lead role in minimizing the risk best for losing your funds. Just a suggestion, make a tight stop loss during these days as I see the probable risk due to misbehaving market right now, you'll never know what could happen next.
