Personally, I like using anywhere from .2 to .4 max on trailing stops (managed manually by watching time/sales LIVE, *not* by entering them into broker software, as many of you have asked me), with finger on mouse button, for NASDAQ stocks.

NYSE stocks I often use .6 since the specialists like to take out half-point stops.

For swing trades, holding 2-10 days, I'll use a max 1.5 point trailing and initial stop. Stops are what keeps us in this game, tiny small paper cuts, in pursuit of larger wins.

What questions do you have about trailing stops, scaling out (for example at major prior s/r levels, or time based stops for intraday trading, eg 12-20 minutes).. ? Or your own personal trading strategy - let's hear it!

-ken