Jim. Here is something that may give you some ideas handling your protecting stop. I know we all trade differently, but some times, with little tricks we can maximize our profits. Below is a 15 ZC Z2 with today's action.
One night many moons ago, I was trading the JY and was long 25 cars. I posted a chart with my entry point and my protecting stop, then few hours latter about 2:00 AM I posted saying that I had moved my protecting stop further away from where it was, therefor increasing my losses if it got hit. But, I was certain that the Yen was going to move up and to my objective.
DrMarty replied to my post and thought me the little trick shown in the chart below. He said: Why not keep your stop where it was, and if stopped out then wait till reverses and buy it lower ? More profit that way. (what if doesn't? you are going to loose that much more) Till this day, I remember that little profitable lesson. I miss DrMarty and UsCoral we had some heated debates, but I'm always grateful to them bc I learned a big deal from them.