in fairness to b1s2 ... a hobby Hey, I am Mr. Fairness. But hobby is a 4 letter word in trading. What drives me crazy that he lets a huge winner go bad. Holding for weeks for huge gains is good, overholding for huge gains and go into huge losses is inexcusable...
I have never done any backtesting over monthly holds, but I can say with 90% confidence that not having a wide trailing stop while doing position trading as B1S2 does is a highly inefficient way to trade. For intra-day trading, many a times, trailing stop does affect performance negatively. However, as one expand the horizon and moves towards position trading, a trailing stop (say placed under key levels) will definitely improve performance by a huge factor.