What stop-loss price should I use when trading an opening range breakout?

How this is calculated

• The opening range is the high and low price during your chosen opening window, commonly the first 5, 15, or 30 minutes of the session.
• For a breakout long, the stop is placed below the opening range low, minus your buffer, since a move back below the range low often means the breakout failed.
• For a breakdown short, the stop is placed above the opening range high, plus your buffer, for the same logic in the other direction.
• The buffer exists to avoid getting stopped out by a brief poke back into the range that doesn't confirm the breakout failed. A larger buffer widens your stop and increases your dollar risk per share.
• This tool only calculates a stop price and risk per share from the numbers you enter. Pair it with the position size calculator to turn this into a share count that fits your account's risk rule.