I like the opportunity to lock in profits and keep those postions that move up if I'm long. If I enter say a cheap trade at 12, If the stock goes to 13, I'd take 1/3 of profits putting a new stop at 14. If the stock moved to 13.50 I'd take that gain and raise the trailing stop. Eventually I'd have 1/3 of the position left and raise the trailing stop to break even.
More expensive trades I move them according to the stage they are in (the more riskier would be the reversal stocks that might be reversing but are still in stage 1) Let's say I buy 1,000 shares of OTEX at 28, according to my resistance I think it might to to 30 or even 32 a share. So I expect to gain about 2 to 4 bucks a share. So I would put in a stop loss at 27 because I think its worth risking $1 to make potentially 2 to 5 points. When its an earnings play that did well I WILL LET THE WINNERS RUN and adjust the trailing stop accordingly.
Because many of my trades move a large range quickly (earnings plays) The stock might rise very quickly to 30 or even 31 in the next few days of earnings upside anticipation (or down if its a short play). I would take those $2 or $3 point gain on about 1/3 of the position and raise the stop to where my risk is now only $1 point of a potential further gain. The trailing stop is raised each time the stock moves closer to target. Always keeping in focus if I want a swing trade or an intraday reversal time play (long term daytrade).
Trailing stops for daytrading is different and I usually us the 20/50 ma on 5 minute chart. I take partial or full profits at price resistance near spike highs that reverse down (after COT's) I take profits from large price moves that are "exhaustion" moves from a continuing uptrending stock that I do expect will fizzle by 10:00. I usually keep looser stops during uptrends and when the futures are doing well.
Market Data 
Markets 
AI
