Danny is a trend follower based in Canada. I have had had the pleasure of corresponding with him for a while now, both on trading in general, as well as specifics surrounding trend following. His blog www.chartingtrends.com is on my list of favourite links. He has put up this post which refers to the dilemma some traders have, on either taking a sure profit, or letting it run with a small possibility of losing all of it. The link at the bottom of the post to a previous article about how you can be right more often than not, and yet lose, is also essential reading.
These ideas are well known to trend followers, however they may provide food for thought to those who aren't.