It depends entirely on your strategy. You will find, over time, that you develop a feel for what is the best way to exit in line with your strategy. There are really too many variables specific to your situation for us to give better than generic advice. For instance, you need to look at the percentage of winners you expect to take according to your strategy. Some strategies rely on needing only a few winners (say, 10% or fewer of trades being winners, the rest being losers). In this case, you would need to let the profits run a long way on the winners to make the strategy work, and would need to tailor an exit strategy to make that work.
But if your strategy generally gives around, say, a 70% win ratio, then 1:1 R:R is plenty for your strategy to have you making money. So you could, in this example, trail your Stop up to lock in profit at 1:1 once price moves a set number of pips through 1:1, then at that point you have locked in what you need to be nicely profitable, but are still letting trades run, so some of your trades might become 2:1, 3:1, etc.
Some traders use pure Price Action to run their strategy, so look for one of a few specific candlestick patterns to form as their indicator that price is about to move against them, so use that as their exit indicator, regardless of where profit is at that point.
So in each of those three examples - and I know that there are many more - the trigger for exiting the trade is entirely different (okay, I know that you could apply PA to reinforce the first two examples, but you know what I mean), yet all three work, there are successful traders using a range of different exit criteria, yet they are equally successful. So it is a cliché, but you need to find your style, your trading personality, and then your exit strategy will flow from that. That should just come naturally with time.
Apologies if this sounds at all patronizing, it is not intended to be - this is a subject I grappled with when new, so thought I might have a helpful perspective to add!