Who here takes partial profits off the table when a certain price is reached? I remember reading in one of Dave Landry's books that he takes half profits of the table once price reaches 1R. He viewed this as essential to cover all the ancillary costs that accompanies trading. Nick Radge on the other hand never seems to take profits of the table, but has installed profit targets on various occasions, and will take the whole trade of the table when that point is reached..
I never used to take profits, however after after having to give back a decent share of paper profits on a few occasions I changed my system. Now I take half profits of the table when price hits 2R, them trail the remainder. I wish I could say this has solved everything, but it hasn't. The problem is now the big paper profits I was previously accumulating are no longer doing so, as the trades that go one to become big winners have already had their position size cut. I'm at odds what to do. Would love to get an insight into other people systems and what they do?