I have a full position in DIG now. Set my stop at 75.25, and as you know that came dangerously close. There was the chance DIG would re-test support, and re-test it did.

Stops do vary by the trade, and with the 2x ETF's you need a higher risk tolerance to trade these as they tend to require wider stops. I learned the hard way when I first began trading the 2x ETF's that setting stops too tight only resulted in their being hit nearly every stinking time. On the other hand, your stop can have a logical point, such as support or prior day lows, or it can be based on risk tolerance, such as by using a % of the trade cost. I use TradeStation and they have a trailing stop option for either % or $, which makes setting stops easy. That option alone has paid for years of commissions.