MSN1979, the 3.5% SL he is saying is of the total capital 10 lacs. So allowed risk would be = 10,00,000 x .035.
See here http://www.traderji.com/community/threads/15-min-breakout-tradingisfishing.106622/post-1297129
See here http://www.traderji.com/community/threads/15-min-breakout-tradingisfishing.106622/post-1297129