Dynamic Point selection (DPS) is a key Downlink (DL) Coordinated Multipoint (CoMP) technique that switches the serving data Transmission Point (TP) of a User Equipment (UE) dynamically among the UE's cooperating set of TPs without requiring a cell handover. It provides performance improvement due to TP selection-diversity gains and dynamic UE load balancing benefit. In this paper, we propose two simple DPS schemes that take into account the UE's current channel conditions and the cell loading conditions to make the UE's TP switching decisions. We show that these schemes improve the system performance under different practical and realistic settings, such as, cell handover margin, TP switching periods, bursty traffic conditions, and cooperation cell cluster sizes.