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

If the closing is in ur favour then u can consider carring home ur positions.Also if ur day trading volume is high u take home partial positions as and book partial profits in order to deal with unexpected gap openings.
(sorry for late reply)

If u use options u could keep rolling up/down as required. That way u keep booking profits a s well as keep open positions overnight.

Cheers.

Everytime we rollover options, we keep paying brokerage and the slippage to the market maker. Got to take these two costs into account.

On such highly volatile stocks, the Gap can be against you as well and then u would think, why didn't I book profit yesterday.

IMO, trader should have strategy clearly defined for the timeframe that he/she trades.
The risk and reward factors that we use for 5min chart trading are very diffrent from the one that would be used for swing trading. I wouldn't mix them on the fly by seeing when my daytrade is giving handsome profit, then leaving them on table without considering what my swing trade setup is saying.

Personally, It took me long time to understand and define the time boundries of trades. Before that I used to end up holding these switched trades for bigger losses in longer timeframe.

If you really want to make this switch from day to swing, then have clearly defined rules a) for daytrade b) for swing trade and c) when to switch.. and ofcourse they got to be backtested.

Happy Trading.

Hi Dollarfinder,

Firstly, What You Are Practicing Is Prudent For The Way The Markets Have Been Behaving.
If You Do Take Position On The Long Side & There Is A Trend Reversal Breakout....Chances Are It Will Do Well For The Next Few Sessions & For Protection You Can Keep A Stop Loss Of A Little Less Than Previous Days Low, But You Are Free To Take Profit Off The Table Anywhere You Are Comfortable.

Another Scrip You Can Checkout Is TRA

Happy & Safe Trading

SavantGarde

which indicator to use for swing trading

what type of indicator r u looking fo??

According to you,from the indicators that r currently available in the market like MACD,RSI,STOCHASTICS,etc,which indicators shall i use in swing trading

how many times ?