In another thread we had a side discussion a while back about exits, when to take them, how to take them, etc. Since I believe this is an important topic, I wanted to open up a dialogue about this. The main question it seems, is whether to exit wholly or to scale out of a position as it goes in your favour. The argument for scaling out is: 1] improves probability of being 'right' and therefore improving a trader's mindset 2] no trend moves forever 3] improving profitability as many moves go past break even and then reverse and go negative The argument for taking a 100% exit is: 1] allows trader to catch a longer trend [since the profitability of trading rests mainly, but not solely, on this one objective (getting a large R) this is a huge point] Tharp mentions in his book that when a trader mentions that he takes partial exits, he asks him to go back and calculate how much money he is leaving behind, claiming that in most cases, there is a large difference. Yet, many successful traders, such as Tony Oz, scale out of positions. Personally, I do not scale out of positions as I have predefined goals for the trade (as well as contingency plans if it doesnt reach that point!) and as I trade quite small (between 500-2000 shares) it is easy to get in and out. What is your experience? Which do you believe to be superior? What does it depend on?