In Think or Swim, I can link my trailing stop loss to the last, bid, ask/bid, mark, or average price. If my goal is to use a trailing stop loss to minimize losses is one typically better to use than another in a fast moving market? And, would my choice change if my goal were to maximize profits?
In other words, in the minimize loss scenario, I've made some profit, want to keep it, and am not worried if I miss out if the stock goes higher. In the maximize profit scenario, I don't want to miss out on a run that may occur but would be OK if I wind up losing on some trades.