[ItalianSharp]

Let me give you my 2 cents here.

First of all, any exit strategy should be correlated with a position sizing strategy.

If you are a YM 1-contract daytrader it'd be unrealistic to expect to make 50pts off any given trade. Just stick to your basic exit strategy and don't care what the market does next unless you get another entry signal.

If you trade more than 1 contract, scaling out might be the best fit simply because you take profits at different levels...and if you are lucky enough to catch a decent trend, you can take out most of the move with a single trade.

Last but not least, what are your volatility expectations at the time of your trade? Is the market move led by important news announcements? Are all the other markets moving in synch? How fast is the market moving?

If you look back at the FOMC minutes of last Wednesday, after the initial 30min chop, all markets finally took a direction and produce a rare parabolic upmove.

That would have been a good time to get greedy simply because FOMC minutes often produces those types of moves. If you are lucky and good enough to be on the right side, just sit back and enjoy your profits...place your stop at BE + some and let it ride...those are the times you can make a shitload amount of money with minimum effort.

In summary:

1. If you trade 1 contract, stick to your basic exit strategy and take whatever the market is willing to give you at that time.

2. If you trade more than 1 contract, scaling out is a good compromise and will allow you to catch most of the trend moves.

3. Always monitor volatility. If volatility is high and markets are pushing, let it ride.

IS