What is the best way to make sure I do not let my loss ride? Do I place a $0.25 market stop immediately after my order execution in Arca?
If I wasn't able to watch a trade second by second (normally during bathroom breaks), I would set a stop limit order with some wiggle room between the activation price and the limit price. The wiggle room would depend on the stock I was trading. For example, if trading SUNW .05 wiggle room would be sufficient, wheras EBAY would require .10. Normally I get filled closer to the activation price than to the limit price. I use IB and their BEST order route.
there is no one universal answer. You have to look at which time frame you trade and what profit target you have. I have found that 2 to 3 times the average (hi-lo) of the most recent bars (in your timeframe) to be a good value that won't get you stopped out based on minor wiggles. Take partial profits at one times risk.
I am putting a trailing market stop order right after the execution today. Works great for intraday trading.