No it is not. I do not set a level at which I will exit when it goes my way. The stop loss is what I consider a "disaster stop" or a point at which I don't have confidence in my prediction any longer. Sometimes it will be 200, 500, etc. pips. I don't limit myself with parameters or risk/reward ratio's.
Sorry about your EUR/USD, that looked quite good for some time. If I may ask, do you have a tentative target when you put on the trades and/or do you ever trail your stop?
I don't trail and I don't really have set targets. I have areas that I expect it to hit and if it does I will exit. The eur/usd and usd/jpy both looked good for a bit. Sell Eur/Usd 1.3149 stop 1.3270