Thanks for that, principle is now clear, I shall now go away and think about it.
Now just a couple of quick points.
1. Do you have some sort of system for calculating your initial stop % - based on past stock "volatility" for example.
2. If so does this also affect your "incremental stop %"
3. You mention opening prices to calculate stops. Are these closed out if hit intraday or do you use closing prices and activate order on open (or preopen).
