Do you use Trailing stops, hard stops or both?

[Mysteron]

For auto day trading:

always a hard stop defined at entry, and trailing stops which are essentially take profit conditions for 25% retracement if large move occurs, or exit at 2 bar low if profit is sufficient, also a time stop by manual exit - don't let the last trade persist for too long if its not working.

 

[easymon1]

Hard stops for bad news, T-Line, and also Targets for good news.

Exits Only _- What MoVing Exit Techniques Work Better Than T-Line Trade Exits?
https://elitetrader.com/et/threads/...s-work-better-than-t-line-trade-exits.349010/

cued... no waiting

 

[Tradex]

Instead I'm using wider initial stops, eg premkt low, then tighten up to trail tight, .20 or less, once it's gone up .5 or more.

Great idea Mr. Calhoun, assuming the initial wide stop is not triggered often.

 

[KCalhoun]

Great idea Mr. Calhoun, assuming the initial wide stop is not triggered often.

Right. And there's been lots of reversals so it's a challenge.

I'll keep testing on $20ish stocks and ETFs.

Setup example:
Yesterday chart range $20 - $21. Today premkt gap range $21.3-$21.8
I use buy stop $22.2 to enter, with initial stop just under low at $21.3
Tighten up trailing stop if big .50+ move in my favor.

 

[LloydPhill]

I use hard stop initial setup. I only apply trailing stop when market condition improves further in my favor.