To explain my investing style, I basically have 3 classes into which I separate any stock I touch. (1) Core position long-term hold, (2) small position long-term hold and (3) trading stock.
The first includes stocks which I believe will one day, say in perhaps 2 years or so, possibly 10 baggers. These include stocks such as BCU, AKA, EFG, POI, WSE, etc.
The second class are ones that I take a small position or hold warrants in because I believe that they might have potential for good moves, but I'm not as confident in their ability to become 10 baggers. Way too many to list here, but some include YLL, PRM, NKA, etc.
The last class is ones I touch only because I want to day trade or swing trade them. Perhaps hold for some anticipated event to occur.
If it's a core position stock then for myself I don't trade it and I don't take profits ( even though pure traders always tell me not to fall in love with a stock and to always remember to take profits ). So, for instance, this round when there was a correction I still held my core positions and added to them in some cases. Actually, one of my mentors follows this strategy and he's been extremely successful over the years. In some cases he holds for 4 years, but at the end of it he's accumulated more and more stock on dips and when he cashes out he gets a huge return. The key here is you have to be really sure that the stock will actually have something in the ground that will become mineable one day and you have to be confident of management.
To go into my core position I have to research the stock diligently and in almost every case either know the management and be comfortable with them, or one of my trusted friend's has to know them. That's because when you invest in a company you're not just investing in their physical asset, you're investing in their management as well.
Keep in mind that some management is very persuassive or to put it mildly stretches the truth. Sometimes I can meet with management and they tell me something, but a week or two later events unfold which completely contradict what management told me. Those ones I blacklist and don't touch their stock ever again, except maybe as a penny flip. That's an example of something that would make me move something from core position classification to trading stock category.
With respect to stocks in the 2nd and 3rd categories, those are the ones that I'm willing to selloff for profits or exit before I ever believe that there is going to be a serious correction in the markets. I take the profits (or in some cases loss ) from these and use them to add to my core stocks on downturns.
With 20/20 hindsight it's great to say that one of my core stocks went from 20 to 40 and I should've sold at 40 and then waited for it to fall back to 20 during a downturn. But, since I have no crystal ball ( with the exception of my TA Fratzy, who's like my crystal ball :) ) I don't selloff my core stock. That's because I can't see the future and I don't want to be out of position if events occur that cause my core stock to really start moving.
Sometimes stocks can be in my first category and then get moved to category 2 or 3, such as Apella ( you'll recall at 17 cents I told the group I'm getting all out ). Other times a stock can go from category 2 or 3 or to become a core position, if events dictate.
The point to all this is that my investing styles may not match with yours. That's why I always say take profits whenever you're comfortable. Also keep in mind that I have no cyrstal ball and my core positions represent my best guess for which stock will have serious potential for upside based on all information which I can collect. There's never a guarantee that just because I believe something will be a huge success that time will prove this to be the case. Also remember time horizon, my timeframe for some stocks to move may be a year or two out and if you need your money short-term then that's not a play that will match your investment objectives.