[Jakew]

I don't scale out. Psychologically this technique can be comfortable for some traders ("I secured some profit and now can go for a home run with the rest of contracts") and uncomfortable for others ("Why did I cut my size down, I would have earned so much more"). Mathematically, for lack of anything effective coming from my own research, I would opt for Tharp's standpoint which is "full position from start to finish, otherwise you cut your profits short". It is so much simpler... But there are top traders who do scale out so I quess they do not do that for psychic comfort only...