I've been looking at the 5yr notes and was wondering how far back to place my original stop loss. At Xpresstrade, their system allows you to place a trailing stop so you don't need to constantly place cancel/replace orders. Their system maintains where the trailing stop is and when hit, executes a market order to get out. My question is, how far back should I go?

In looking at the 5 yr, I noticed that a lot of the back and forth movement is about 025. So I was wondering if 025 would be too close, or should I do something like 03 or 035? Any info is appreciated. Thanks....

JeffK