"Specifically, what I don't understand is ... what are reasonable s/l and t/p values? By reasonable s/l, I do not mean "how much pain can I stand", for instance -- I mean a value that should be able to keep me in the trade (rather than whipsawing me out) but without eating up so many pips that I have to trade multiple more times just to break even.
Does that question make sense?"
What is REASONABLE?
You should be asking WHAT IS PROFITABLE?
The answer to that is the MONEY MANAGEMENT spreadsheet.
If you win X times and make Y per trades and you lose M times and lose N per trade then it is X*Y - M*N.
If the answer is positive, then you make money. If the answer is negative, then you lose money and need to rethink your entries, TP and SL.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!
Please do NOT PM me with trading or coding questions, post them in a thread.