Well Soul, I would agree with you that when I was trading the YM as you do, movements would often be 20-50 points before a reversal. I only did about 3 trades a day and would usually bring my initial stop back up to b/e +1 after either 10 or 12 points and if I got stopped out so be it (it actually happened about 16% of the time but it only cost me the opportunity cost of having to wait for the next trade). Then I was pretty much in a risk free trade so I often let things run with my full position until price reached the next level of S/R or I noticed that momentum in my direction had seriously begun to stall. At that point I exited regardless. If it ran further without me, I could care less. I am not the kind of guy who after a big purchase gets upset when he finds he could have gotten a better deal. I thank the good Lord for what I was given and move on.
As to scale-outs, I could just never personally get comfortable with exiting most of my position early on (dramatically cutting my winners so to speak) while leaving only the barest minimum of my position in for the real run. In trading the Russell I use a bit wider opening stop but I trade it much the same.
I feel there is no right or wrong way, only what fits your personality and trading temperament.
Happy Trading
