It does make some sense, but contradicts most other trading books I've read.
Tharp favors exiting all at once, perhaps with a "profit retracement" type stop based on the amount of initial risk and tightening it as the trade moves in your favor. Or, exiting all at once with a ATR based stop.
NinjaTrader obviously allows multiple levels, fixed, trailing, etc.
It would be helpful to hear from traders who used both profit taking strategies in a live environment or from those who have backtested both methods.
Thanks,
Brooks