I trade directional calls or puts. I am looking to place trailing stops (25 to 35%) and not monitor the market due to other commitments. I know I will never sell at high, but would limit my losses to ~30% what techniques do people who dont monitor the market all the time use.. thx
I use stop loss orders only to protect my capital, not to exit my trades. There are many good resources available on this subject. A few days ago I read these: http://www.hardrightedge.com/wheel/hrestops.htm http://www.hardrightedge.com/wheel/hreexit.htm