I shorted UTX at 76.01 per my newsletter mention. I am using a mental stop loss at 76.69. My objective is $65. I am risking $68 to pick up $1100 per 100 shares. It is better than a 15-1 risk/reward ratio.
As far as a "mental" stop is concerned, if the stop loss point is triggered I wait about 15 minutes to see if the stock follows through to the upside or if it was just traders going after stops, If the stock reverses back down within that time period I will readjust the stop loss. If the stock continues upward, I then make the decision to change the stop or get out.