Your thoughts/experience/advice on trade management?

Hello all. Just wondering what people have found to be the most effective money management/profit taking/loss limiting method in their trading:
Move stop to breakeven and leave postion to run or die?
Close half at breakeven and leave the other half to run
Close half at a specified target (breakeven and some) and leave other half to run.

What method(s) do you guys/gals use please? Thanks

I find that the best way to manage a trade is to have rules that let profits run and cut losses shorts.

Scaling out a position should only be considered in very special cases where you feel the need to reduce exposure for risk management purposes.

Theoretically...
- start a larger position on lower timeframe, eg 2% risk for 10 pip. ( ex M1)
- when you are in profit with 10 pip you do an analyse again: will be that position an entry at the next time frame or not? M5-M15
if not, then 100% exit
if yes, then leave it and set a target to 20 more pips
if is reached then you have +30 pip and you do another analyse. If a valid entry for higher time frame or not
...
In this case from 1000 trades maybe 1 or 2 will make a huge return after 500 pips.

Psychologically I know we feel good to be at BE as soon as possible.

If you have played with EA and back testing you will know it is a bad idea the BE.

Funny and useless info: what it matter is to be in a good trade with higher position as possible.

So somewhat is true the " let profits run and cut losses shorts" rule.
But not as set and forget a SL of 10 pip and a TP of 500 pip...

IMO: set a SL and use a SL by time too: if isn't showing a profit or isn't going to show more profit in X candles then go away. You were wrong and next is gambling, where only the broker makes money on long term.

Trade Management will vary depending on the strategy. I specifically on the m1 Tf, if i have a 10 to 15 pip stop loss due to the last fractal swing being near a resistant level, then i shall entered two orders for entry.

Order 1 - Limit order and take profit at 10pips.
Once order 1 is in profit and has hit 10 pips, then move order 2, to break even.

Now move onto M5tf and move limit profit order on m5 swings, the idea is to catch an big trend.

I wouldn't have 2 orders if the stop loss was 30 pips, as im not interested in only doubling or tripling 15% of the time and getting closed on break even at 85% of the time.

As with 10 or 15 pips stop loss, a 60 pip move which can happen 40% of the time, more than triples your entry.

To summaries, only 1 entry order if stop loss is above 25 or 30 pips.

This i believe is an excellent trade management strategy for me.