exits

[Paul Cote <cote@xxxxxxxx>]

With a variety of exits out there, I would like comments on great exit
strategies.  I am familiar with the following:

1. Exit at a target, ie a retest
2. Exit at a target, ie an expansion
3. Exit at a target, a fixed profit objective in dollars
4. Exit at a target, an objective chart point
5. Exit at a target, a subjective chart point
6. Exit at a time interval, 4 days
7. Exit at a combination profit time, first profitable open, 2nd
profitable close.
8. Don't exit but just reverse
9. Exit on a range expansion
10. trail a stop off the low
11. trail a stop off the high
12. parabolic exit
13. Exit on close


There are a variety of exit methods.  What I am starting to believe is
it is best to exit with a profit.  This means taking smaller profits and
not letting any get away from you, it also does not mean trailing a stop
because if you do, you will get an even smaller profit.  So, what I am
thinking is to exit when the trade is moving in your favor and as long
as you made money, be happy.  

I would like to hear from experienced traders on this philosophy. I have
had many times where I have had 500 profit into a trade and did not take
it only to have the trade fail to my stop. I am a one lot trader so it
is hard to scale in and out.  

I don't let 500 get away from me anymore, but then I am not letting
profits run either.  I suppose a solution would be to build up the acct
with one lots and later use three lots to scale out and leave one on for
the big pull.  

comments?