I like trailing stops because when the stock goes up the stop follows. If I have a stock I am ready to sell I always put a short leash on that stock with a trailing stop and then it doesn't sell until it reverses. You can't use a trailing stop on pennies and Like Roger said the swings on a percentage basis will take you out of that penny before you can blink. I trade full time because I have a mix of pennies and stocks over $30 a share.

RMHB, I am long and strong.