I've been taping my knee per my ortho Dr. and physical therapist's recommendations.
You can keep the tape on for 3-5 days or really, as long as it stays. You may actually have more problems trying to remove it sooner (some people are sensitive to it but I've been fine taking it off after a day for PT when we were doing shockwave therapy). It gets essentially waterproof after a couple of hours so no need to worry about it getting wet or anything.