I understand how you feel, there may be more upside & you wouldnt like to miss that, but you also want to protect at least some (or most) of your profits.
The crawler trade, uses the "H" stops on the TG software, it is used by a trader I know for commodity & currency positions, as they often trend for long periods. He uses a fairly wide "H" stop (somewhere between 2.5 - 3.5 on the software). He would use the Daily chart once the trend was well in place & was in profit, and sometimes switch to a 4hr timeframe when a top might be in.
He would also use the same trade style using the 4 hour chart for shorter term trading or entries, then switch to the daily once in profit.
I've used it a couple of times with stock's and had good results, using the daily setting of 2.5- 2.75 & tighting it up to 2.0- 2.25 if I'm seeing a potential top (you can always widen it again if it starts trending again).
So the idea is that you just crawl up the stop as it trends, until you get stopped out. You never actually take an exit, you always wait until you actually get stopped out. You will always lose some potential profit, but you give yourself the chance to hold on if it continues trending again.
Have a play with the settings on a few different charts & see what you think.
This gives you a set and forget daily stop setting, you reset it in the morning if nessesary, and can spend the rest of the day looking for other interesting charts.
