Do you have any set rules for moving stops up when the stock starts moving in your direction?
Also as far as taking a position when your alert triggers is there certain criteria your looking for?
Great question! Yes! I use a 5% stop loss when I first buy the stock. I will allow a little wiggle room. But, I do not want to take more than a 5% loss on any stock trade.
If a stock I bought runs up I use the prior low as a stop. CRWD kept making higher lows and I moved the stops up. However, yesterday it made a new low below the prior low of $239.71 and I was stopped out. We bought the stock at $227 and I could have sold id at $270 but I wanted to allow it a chance to make a big move. It was disappointing. But, that's the way it goes. I never buy a bottom or sell a top.
I hope this answers your question about raising your stop-loss.