I don't use trailing stop-losses as such, I don't like the idea of being taken out of a position simply based on how many pips have come off price's furthest point of travel, when the TA might still be extremely profitable.
But I do advance my stops when I pyramid on a winner. So if the original stop is -100, and I pyramid at +100. I advance the stop on the first trade to b/e. After that I continue to pyramid and advance stops at steps of 100.
(I believe trailing stops are a feature of new trader training so that the new trader does not lose too quickly and go straight back to the trainer with a grievance. You will still lose out if you use strict trailing stops, but by the time your account is worthless, the trainer can claim significant separation in time from what he taught to what was your result. So how can it possibly be his fault?)
But I do advance my stops when I pyramid on a winner. So if the original stop is -100, and I pyramid at +100. I advance the stop on the first trade to b/e. After that I continue to pyramid and advance stops at steps of 100.
(I believe trailing stops are a feature of new trader training so that the new trader does not lose too quickly and go straight back to the trainer with a grievance. You will still lose out if you use strict trailing stops, but by the time your account is worthless, the trainer can claim significant separation in time from what he taught to what was your result. So how can it possibly be his fault?)