When to convert a Daytrade to a Swing trade

D

dollarfinder

New Member
#1
#1
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
 
A

AW10

Well-Known Member
#2
#2
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.
 
U

uasish

Guest
#3
#3
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
 
N

Niks

Guest
#4
#4
Re: When to convert a Daytrade to a Swing trade
Click to expand...
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.
 
H

hari09omkar

Guest
#7
#7
dollarfinder said:
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
Click to expand...
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.
 
prasadam

prasadam

Well-Known Member
#9
#9
hari09omkar said:
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.
Click to expand...
Hariji,

you rock the forum.:)


Thank you for coming back with full vigour.
 
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