I still try to wait at least an hour before touching the intiial stop. Maybe if I get a real quick 2 or 3R I’ll move it to break-even before 60 minutes are up but I won’t for just 1R

You mentioned that once you reach 1R that you move your stop to even. Do you still do this if you have only been in a trade for 15 minutes you reach 1R, or do you wait an hour and then adjust any type of stop.

One concept I have used is if I hit 2R within an hour then I set a moving trailing stop of 1.5R. If its over an hour I use a moving trailing stop of 1R. As of now I dont adjust my stops for an hour unless I hit 2R. Once I hit an hour and I hit 1r then I go to break even. Still experimenting.

I assume by pressing you mean just letting it run without taking partial profits or even adjusting the trailing stop? If so, I’ve been trying to do that more of late. My initial plan with DGX, since it started off so well, was to just hold the entire position until the close or until it hit $50. Unfortunately the market action caused me to abandon that plan.

Mr. Mike,

No, I’ve never used pivots for anything.

Do you ever use pivots for your trailing stops?

Are there any instances where you would press a winning position?

T.