
Abba |

From the Core Rulebook:
Fighting Defensively as a Standard Action
You can choose to fight defensively when attacking. If you do so, you take a –4 penalty on all attacks in a round to gain a +2 to AC until the start of your next turn.
When fighting defensively is it possible to make ONLY ONE attack?
In this assumption the phrase: "you take a –4 penalty on all attacks in a round" would apply only to opportunity attacks.
Am I wrong?
G. Luca

Remco Sommeling |

"Fighting Defensively as a Full-Round Action
You can choose to fight defensively when taking a full-attack action. If you do so, you take a –4 penalty on all attacks in a round to gain a +2 dodge bonus to AC until the start of your next turn."
So you can either make a single attack action or a full attack action as normal, either way you keep the penalty and benefit until the start of your next turn.