EFATO in a twin - reducing the likelihood
There appears to be two trains of thought as to when to reduce to climb power when taking off in a twin: -
1) Smoothly as soon as the wheels are off the ground (this method reduces the amount of time the engines are blaring at full power and therefore must reduce any stresses - provided of course you are safely clear of obstacles)!?
2) Much later in the climb (this method allegedly is best because it's when the power setting is changed that most engine failures occur)!?
Which of the above views is guff and which is the best strategy?
I'd appreciate any input.