When Does Day Trade Becomes Swing Trade?

[murray t turtle]

Love to hear everyone's thoughts on a day trade that goes up a lot and you are in the money 5% or 10% in a day. Do you ever hold it to the next day?

I feel like I should consider this like friday when the whole market is up.
I suppose it might be a better idea to do it when your porfolio is doing well vs poorly?

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MAY want to consider that; but trend = friend tends to be a better measure.
As far as taking some/ partial profits may want to do that also /especially on the least best performer in your account, i like that......................................................................................Better get more than 5% profits sometimes/ planned losses are sometimes more than 5% some. Anyday could be a good profit day, job workers get paid on FRI, so that's your business on paytime. IF 5-10% is a freak size profit on what you are trading in day, that makes a difference also.

 

[Bad_Badness]

When you don't stick to the plan and think that you are a master of the universe, for better or worse.

It is when you don't like or like too much the results of the day trade. Usually it is a sign either someone thinking they are a "pro" when they are not, or a novice who overrules the day plan-setup with fear or greed.

Over the long run is is sloppy trading and usually does not help the bottom line at best, and worse is a distraction from developing discipline.

Everyone does it until they learn better.

 

[bone]

There is some hilarious stuff posted here, tbh.

Most Commercials and many investment funds don’t or won’t day trade for a number of different reasons.

 

[Swiss_cheese]

Day trades are opened and closed on the same day, hence the name.

 

[RedSun]

It is really hard to separate them. Sometimes you'll have to close the position. Sometimes you can let it ride or limp for some extended period. All depends on trading style.

I just call it a day now. Not sure if I want to get in again the same day. Look for dips.

Also has a monster gain that I'm holding now.

 

[bone]

As an example, I traded many '22 and '23 expiry Nymex and ICE energy futures spreads during 2021 - either exchange supported Butterfly or Condor combinations. Average position holding time frame was ten weeks.

It would have been silly to day trade these, but for swing trading they are ideal IMO.

 

[vincentnyc]

I care less as long as my profit flows. I'm up 30% YTD and 232% from 2021-2022. Do not even need to work my butt off to chase all the day trades.

I caught the falling knife on SOXL and that trade is already 22% in the money. Do not know if I'd be able to catch that day trade only. Several people kept posting, do not catch falling knife. LOL....

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today 2/4/22...just curious you still in soxl or you out?

 

[RedSun]

Out in the big positions. But some minor position here and there. Mainly cash accounts that can't do day trading.

 

[vincentnyc]

Out in the big positions. But some minor position here and there. Mainly cash accounts that can't do day trading.

too bad...soxl still running today 2/7/22 and i just got paid.

 

[RedSun]

too bad...erx still running today 2/7/22 and i just got paid.

Do not know what is too bad? Did you ask about SOXL? Now you say ERX. So which one?

Not sure if it is bad to buy at $34 and exit at $46.... And not it is at $44.