When to convert a Daytrade to a Swing trade

95% of my current trades are day trades. I pulled in some nice gains in AAPL, GOOG, BIDU, MA, V over the past week. These high beta stocks keep ripping upwards. Which brings up the question: "When should I hold on to a stock and let my profits run?" For example: I had several Daytrade positions on AAPL which I sold for some nice profits. But today I wished that I would have held onto those positions for a hefty chunk of change.

Thanks in advance

In my view, one should never change a daytrade to swing trade and specailly if he doesn't have proven swing trading strategy. The temptation to hold on to a trade, more often then not, works on loosing trades as well. We end up holding onto daytrade looser for more then a day.

It is better to have two seperate strategy - 1 for day trading and another for swing trades. They will have to consider different timeframe of chart,risk reward ration, risk amount, exit rules etc appropriately. Specially for swing trades, you need to accomodate Gap Up/Down in your exit strategy.

Only when your daytrade strategy has given entry signal on a stock, and later during the day, your swing strategy gives the entry signal on same stock, then you might change your trade to swing trade.

Happy Trading.

dollarfinder,

The Qty will vary ,becoz the Stop & subsequent Risk varies,hence never ever convert a Day Trade to Swing Trade.
No. 2 := open 30 past charts & see how many times the next day never came back to earlier day's open,so can we not trade the next day ALSO in same direction ,with more Qty & less brokerage.

Asish

I do that when long/short at a very good level, and EOD charts(larger time frame) suggests good movement in my favor. What I carry overnight is usually 1/5 of my day trading size.

wht exactly is your motive to post hello in all threads that you see???

LMAO. If you consider the IQ of posters, forums can be surprisingly funny.

Sir,always convert a day trade in a swing trade when u find it a losing day trade.And forget about it.The broker will(if unlucky) square it up in case of margin money shortage,after a few days.No tension.Daytrading is very simple.It's all about being lucky or not.Please consult the nearby Jyotishi for a marvellous fortune.Ding Dong.

Did u say IQ? For the best one please search the posts of arzoo sing.Nobody is close to him.

Hariji,

you rock the forum.


Thank you for coming back with full vigour.

Hahaha...

PS: welcome back. getting to read your posts after a hiatus