We hear it from the best time and time again...
"Take profits on the way up"
But how do you do that, is there a formula or strategy to do this.
...
There are a million ways, but at the endo of the day is up to you predicting how the price is goind to move and that is something that very few people can do and possibly no-one can do for a sustained period of time. If you want to try, you should be considering the technical indicators such as mobile averages, 52 week averages, etc.. or simply say "I will buy only 15% under the ATM and sell if I make at least 20%". Be aware that this would only work while the general trend is up.