Do you take partial profits at the first target, or let the whole trade run?

Taking partial profits means closing part of a position at a target and leaving the rest open. It reduces the chance of giving back a gain, but it also limits the size of a winning trade. Members disagree on the right split, and the answer depends on the setup and on the risk you accept. Taking part of the position off at the first target changes the risk of what remains, so the stop on the rest has to be reset as well.

The question is what you do at the first target, and why. How do you size a position before a data release that could move the market? is a related discussion on sizing around events, and the same logic applies when you decide how much of a position to keep through a target. The split should be decided before the trade is opened, so that the first target does not turn into a fresh decision under pressure.

We would like to hear your rule:

• Do you take partial profits at the first target? What percentage?
• Has taking partial profits ever cut your best trade short? What did you do next?
• How do you decide what to do with the rest of the position?
• Does your choice change around a scheduled release?

Please share your own approach and reasoning, not calls for others to copy. Posts that promise a direction or sell signals will be removed.