Speaking of my reprehensible stock: it came within a dollar of triggering the first trailing stop limit sell order today.
I set the triggers at 11%, 16%, 21%, 26%, 31%, and 36% versus the high price since I placed the orders last week. If the stock ever drops 36% from its high, I will be out completely. Considering the meme nature of the stock, that's probably not unlikely. (It might seem stupid to set a trailing stop at 36%, but even once that one triggers, I will still have bagged something like a 15x gain alone on that lot.)
But you may have noticed that I set the triggers on the ones and sixes and not on the zeroes and fives. I did so purposely to evade the algorithms that sell off en masse until the drop reaches a certain percentage from its high, at which point they turn around and start buying it back en masse.
It happened a few months ago when the stock dropped from its high 25.0% practically on the dot, then immediately turned around and it's been above that level ever since.
The turnaround wasn't quite that precise today—the stock dropped 10.5% from its high before turning around—but instead of selling because I had it trailing stop at 10%, it held because I had the trailing stop at 11%.
So now I have a chance to enjoy a run up above the current high price the triggers are pegged to, if it happens. And if it doesn't, the stock will sell off at the exact same level I have it at right now once the price drops past it.