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I don't like trailing stops because they are pitched as a way to reduce your risk of loss, however with a trailing stop the amount you'll lose is still completely unknown (and it makes you vulnerable to temporary market jitters).

I've used trailing stops a few times and quit doing it because I
always got stopped out at the wrong moment. It seems like it should
be useful, but I was always irked at when I got stopped out. I think
that intraday jitter is much larger than I had thought.

Chris - long compound growth
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