This is how I visualize my trades. Once i press the buy/sell button, i am at war. The war here is not with any individual or group of traders , but just with the price.
Everything in between my entry point and above i call it as MY KINGDOM. Simply because this is where my capital exists in the form of RISK . As the price starts to move up it possess a great threat to my kingdom (capital).
Price of the asset here is a tricky soldier. If he starts to move in the enemy zone he favors me, but instead if he enters my zone he attacks my kingdom.
Hence to avoid losing the whole kingdom, I have created a buffer zone. This is the zone between my entry point and stop loss. This is all i am willing to lose in the quest of conquering ENEMY KINGDOM ( Profits). Once it starts to cross the buffer zone and enters MY KINGDOM , I just quit the war.
If the soldier ( price) is conquering the ENEMY KINGDOM, I let him go as much as possible.
OK now enough of these analogies. I am sure you got the point.
Here is another example.
Once the price moves in my favor I will shift the stop loss to the entry price and make it a risk free trade. I wont apply any trailing stops. I exit based on time. I believe that by giving enough time for the price to remain in profit zone it helps in making more gains. And there is no fix time also. It all just depends.
I would say it is a mix of system trading method and intuition.
Philosophy here remains the same as explained by Kpl sir in this post https://www.vfmdirect.in/2014/11/possible-outcome-of-any-trade.html . If one keeps this in his mind he can trade with any strategy.