Ann: Annual Report, page-11

you can vary the percent the stock must pullback (for the sell to trigger) between 1-15%, At least that’s my platform.

I choose a different percent for each stock based on its volatility (don’t want to get stopped to early) and how keen I am to cash in some chips. I’m 60% up in 18mths or so. I love the way this is playing out but I’m overweight here so want to trim a third. This trailing stop is my way of calculated trimming. Sorry if this sounds like a self indulgent story about me, just sharing my approach in case it suits others. It is not a perfect solution either and has its negatives.