But don't you just kick yourself when you just didn't have the balls to hang on, got out on a small pullback only to see the market run? I used to do that until I smartened up, drank milk, and ate wild yams.
I hear what you are saying, however in my experience I've seen plenty on stocks I have traded in go way up and way down in swing trading. My plan is to consistently take money out of the market instead of watching the profit go way up then way down. Its easier said then done, but with the thousands of securities to choose from you can also buy something else. I think its greed that hurts people in trading. Its the old saying, what goes up must come down. Just my 2 cents.
OK. Here's another method I've used. Keeping it simple without all the math to optimize it, say you buy 500 shares. When it goes up a certain amount that you know winning trades almost invariably achieve or what you know you're routinely comfortable in taking, dump 300 shares for a profit and let the other 200 run. Move your initial stop up to break even. A predefined exit for the remaining shares is nice. But if it goes up twice the amount you let the first 300 go at, that'll do too. Play with the ratio taking into account commission when calculating break even and you're more or less set. This is essentially scaling out.