should i take profits early when trading forex?

I dont think taking profits early is a good idea in the long term. I mean it may seem like a good idea/quick fix in the short term, but it will hurt your overall profitability in the long term.

In trading to become profitable over the long term, your profits have to exceed your losses. If you exit with profit early and also cut your losses early then you will only break even and will neither be profitable or unprofitable.

And studies have shown that if you take say 10 trades you are probably going to lose around 6 of them, so this is why for the trades you win you must let the profits run to cover the losses you sustained from the other 6 trades.

The solution is to have a fixed risk to reward ratio. personally, i use a 1:3 fixed risk to reward ratio to take my profits. if i take ten trades and lose seven, win three i will still end up profitable. This is the power of risk to reward ratio.

Depends on how many trades I opened. Lets say I opened 5 trades, I will take profit early on 3 of them then leave the remaining 2 to run.

Really? Are you saying as a trader you can open 5 trades at a time?

This is what you meant by trade history on MT5 right?

Instead of opening one 0.05 lot size trade, I can open five 0.01 lot size trades. This enables me to close some and take profit early while leaving the rest to run.

No, this is what I mean. Trade history draws a line from where you entered to where you exited. on ctrader they call it deal map.

Alright, well understood now.