How long a Swing Trade should be hold?

Beginner Questions
1

How long a swing trade should be hold ? (based on daily chart)

suppose you entered into a trade . You have a SL and a Profit Target. … but price is not hitting either of these in 2 weeks …it started ranging. What would you do now ?

Would you wait for some more days ?

Or

Would you close the trade and move on to next ?

I have 3 swing trades open and its ranging . Need help.

2

Tell me the pair and the direction. Do NOT tell me the entry price. I will tell you when to get out.

That is the mental excercise Richard Dennis put the Turtles through. He asked them when to get out without telling them when the position was put on.

If your original plan was to take the profit or the loss whichever comes first, then why are you changing plans mid-trade? You may have heard that is a no-no.

wtf does an arbitrager on acid know?

3

Its not a big deal, you can set some time limit in your trading plan that you will wait xx number of days and if you don’t find any result from your trading (either SL or TP) you are going to close your trade manually.

4

Your analysis was not very effective and this is why you have to wait longer for it to hit your stop orders. First, what does your analysis tell you and what is the chance that it will hit the target price? The chances of success will help you make decision. For a normal trade Here is what you can do: If the price has refused to hit the TP, why not close the trade when it is closer to the TP. Or you can simply close the trade when there is no loss and no gain.

5

… That is the question ! … how long you would wait to see if the price refused to hit the TP ?
How long you have been trading ?

6

There is no right answer. You need to pick one. Donchian waited for the break of a periodic range against the direction of a position. Example:

If you put your stop just below the 20-day low in a long trade, you will move the stop higher each day that the 20-day low rises regardless of what the price does above that low until the stop is triggered. This puts a time component on the trade, deals with changes in volatility, and (most importantly) allows the trade to continue in a profitable direction if indeed it does.

That is one method of a million.

7

I suppose you can leave it open as long as you want it to be open for.

8

set your parameters and leave it there, it can stay there as long as you want it too. i have trades that lasts days

9

Before you enter the trade you need to know
1)How much you are prepared to lose on it…AND
2)How much you hope to gain on it…OR
3)How long you are prepared to hold it

If the target you set for 2) has not been hit by the time you reach 3), then your own trading rules are telling you to close the trade

10

Ok…some of you are suggesting to make a rule that if the trade does not hit either TP or SL within X days , then exit and look for other opportunities. This is also a big problem . what If that falls also in the same loop ? Can we have some smart techniques which could help us to relief from this trouble.

I now have 4 trades open which neither hitting SL …nor TP … its around 1 month now… although they are in the money and I’m green with 4% gain after one month. I am having 1 gold and 3 stocks in my portfolio.

11

Hi,
If you have set exit points, whether you hit sl, tp, or time limit first is irrelevant. You will hit one, unless your time limit is so far away as to be meaningless.
For future trades you may find an ea that trades for you. Not my cup of tea, but we’re all different.
Regarding the trades you are already in, are you happy to stick with them and see if the price moves in your favour? If yes, then great. If no, then cash in now and invest your time and money elsewhere.