For a stop loss order should the trail amount percentage be the minimum amount I want to keep or the minimum amount I want to lose? For example, if I want to keep 95% of the original value would I out 5% as the trail amount?

For a stop-loss order, the trailing amount or percentage should be set based on the risk management strategy you want to implement. It is not simply a matter of keeping or losing a certain percentage of the original value.

1. Risk Tolerance: Consider your risk tolerance and the level of loss you are willing to accept. If you set the trailing stop too close to the current price, you risk losing a significant portion of your gains if the price experiences normal volatility. Conversely, if it is set too far away, you might lose more than the predetermined amount if the price moves against you.
2. Profit Protection: A common approach is to set the trailing stop slightly below the price at which you believe the asset's price will stabilize or reverse. This allows you to lock in profits while still giving the price some room to move in your favor.
3. Percentage or Dollar Amount: Decide whether you prefer to set the trailing stop as a specific percentage of the original price or as a fixed dollar amount. A percentage-based trailing stop can be more flexible as it automatically adjusts to price movements, while a dollar amount can provide a clearer threshold for the stop-loss.

In your example, if you want to keep 95% of the original value, you might set the trailing stop at 5% below the current price. This means you are willing to lose 5% of the original value before the stop-loss is triggered. However, this is a decision that should align with your overall investment strategy and risk tolerance. It's important to remember that no risk management strategy is foolproof, and market conditions can change unexpectedly.