Setting Stops for new Long Entries

Pat,  New subscriber...just watched the key list video for 3/9 and love how you walk through the stocks.  Really looking forward to learning from you.  I did read a couple of posts on exits, your replies to questions.  I feel like I get stopped out a lot only to see my exit get tagged and then the stock takes off, that gets frustrating.  From what I have read you recommend a 5-7% stop (does that sound right?), for a more expensive stock like NFLX that would really limit my initial share purchase. I have seen some really aggressive traders simply use a $1-2 stop from a breakout as they say “race horses shouldn’t back into the starting gate” and I have read Tharps use of a volatility exit. What do you think the best exit is for a “breakout failure?” Also, What is a full initial position do you recommend, 0.5%-2% of total capital or something else? Trying to position size appropriately.  Thanks so much!   SeasideVol