1. It pains a lot if profit becomes loss and thus it is important that one should use the strategy of using trailing stop loss which is a technique to keep shifting the stop loss level every day as a swing trader or as a long term investor or with every rise of the stock as a day trader.

2. One is able to get the maximum profit by using the trailing stop loss as one is out of the stock only when the trend changes and thus the stop loss is triggered and we can rather use the term as stop profit technique.

3. One need not undertake a great detail technical analysis for trailing stop loss and thus one can just use the arbitrary levels with which one is comfortable. However arbitrary stop loss be based on either of the following methods which are as listed below:
(a) Support/ resistance levels,
(b) Above/below the most recent peak/trough,
(c) Above or below reversal signals; or
(d) At the crossing of moving averages.

4. Find the method with which one is comfortable and thus one will be able to make money as Trailing stoplosses are effectively a safe technique to book profit.