A movable instrument holding apparatus and method of retaining a medical instrument with a movable instrument holding apparatus are disclosed. The movable instrument holding apparatus includes a housing structure retaining a gripping structure. A rail is connected to the housing structure. A depressible arm is connected to the rail, the depressible arm having a first quantity of ratchet teeth, wherein the first quantity of ratchet teeth is movable with the depressible arm. A track is sized to receive the rail, wherein the track has a second quantity of ratchet teeth, and wherein the first quantity of ratchet teeth are engagable with the second quantity of ratchet teeth when the rail is positioned at least partially within the track.