If you know that you might be unable to monitor a trading portfolio regularly for a while, how do you decide whether to trust your stop losses or just to close out?
Your plan says you hold rising stocks until you get a specified signal to sell and that you reset stop losses to protect your profits. You set the stop losses by placing sell orders at a price, which can remain valid for up to a month.
I'm thinking of situations like expecting a new grandchild and when it arrives you'll be staying with the family to look after the older ones. You know that the disruption is coming but you don't know when, how long it will last, or what chance you'll have to use their computer. When the phone call comes, do you close out, do you trust your existing stops, or do you reset them? And if you reset them, is it tighter to increase the protection or looser to allow for normal fluctuations?