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Does anyone use the Dynamic Trading software, especially the Tradestation add-in. If so what has been your experience with it and has it helped in identifying proper retracements?

If one is holding a profitable long or short position overnight and does not believe the current move has run its course what is the best way to place a buy stop if short and a sell stop if long to protect open profits. Would it be to protect a percentage of open profit or a strict point move...