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Speaker 1: National Association Member FDIC. All right, so this is the question,
Speaker 1: This is the question you gotta figure out. I can't
Speaker 1: answer it, but only you can. And Magan, maybe they
Speaker 1: can put this in the chat. Put this in the chat,
Speaker 1: like what type of investor are you? So the three
Speaker 1: types are going to talk about, and the fourth one
Speaker 1: I'm going to give to you. So there's scalpers, there's
Speaker 1: day traders, and there's swing traders. And so if you
Speaker 1: can't read it, I'll read it to you. It says
Speaker 1: scalping entails the buying and selling of a financial instrument.
Speaker 1: Usually a stock future, a currency, commodity, or even an
Speaker 1: option with the goal of producing a small gain or
Speaker 1: could be a large game on that position. Scalpers attempt
Speaker 1: to profit from short term price movements. So really quick, now,
Speaker 1: this is the most important part for scalping. The time
Speaker 1: frame that scalpers trade whole positions ranges from seconds to minutes.
Speaker 1: And so when I told you to figure out what
Speaker 1: kind of trader you are, a scalper is somebody who's
Speaker 1: in front of their computer and they're doing this by
Speaker 1: the second. I mean every second counts when you're scalping,
Speaker 1: because movement happens, volatility happens, and so people who do
Speaker 1: this are I mean, I always like to say this
Speaker 1: is strictly for livmen, not for freshmen, And since we
Speaker 1: got a lot of freshmen in here, I wouldn't advise
Speaker 1: this yet. If you haven't traded before, I wouldn't advise
Speaker 1: you to start scalping right away. Yes, you can make
Speaker 1: money in it. Is it violatile? Is it risky? Yes?
Speaker 1: And so we want to take that into account. Now,
Speaker 1: there are day traders, and that sounds pretty self expansory, right,
Speaker 1: So the strategy for day training involves taking positions into
Speaker 1: financial assets such as stocks, futures, currencies, same pretty much thing.
Speaker 1: But the day traders tend to hold the abundance of
Speaker 1: trades over minutes and hours, and so my scalpers we're
Speaker 1: talking about seconds and minutes. My day traders, we're talking
Speaker 1: about minutes and hours as a maneuver their transitions throughout
Speaker 1: the changing market conditions and sign out Ian talks about
Speaker 1: this a lot when we're talking about day trading, especially
Speaker 1: in the futures market, where it's hey, we don't we
Speaker 1: trade the open and we trade the close, right, so
Speaker 1: it's between nine thirty to ten thirty, and it's between
Speaker 1: three o'clock to four o'clock. Why momentum shifts in the morning,
Speaker 1: momentum starts to shift again in the evening, and then
Speaker 1: during the day you don't see it as much movement.
Speaker 1: And if you've watched any chart, if you even if
Speaker 1: you watch the NBC, you know as soon as it
Speaker 1: hits nine thirty, you'll start seeing colors flash and it'll
Speaker 1: be ready to be green, to be ready to be green.
Speaker 1: You're trying to figure out what's going on. Trades are happening,
Speaker 1: and so there's a lot of flow that's moving in
Speaker 1: it during those times, and so day traders they capitalize
Speaker 1: on that time movement. Now, and it seems like we
Speaker 1: got a lot of these people in the chat, so
Speaker 1: shout out to everybody that's in the chat. We got
Speaker 1: swing traders. So unlike scalpers and no knock to them,
Speaker 1: and unlike day traders, shout out to y'all. All right,
Speaker 1: swing traders hold their positions for longer time periods. This
Speaker 1: can be for several days, weeks, even months, and is
Speaker 1: dependent on the asset, the trend in other existing positions
Speaker 1: of that swing trade. And so swing traders are a
Speaker 1: little bit more more discipline, more patient, and are looking
Speaker 1: to have returns not immediately but over a course a
Speaker 1: period of time that is a lot longer. So we're
Speaker 1: talking about several days, weeks, and months. Now. I didn't
Speaker 1: put this one in here, but the fourth one would
Speaker 1: be an investor. You're right, you're the You are an investor.
Speaker 1: That's your type of investment, right. You are an investor,
Speaker 1: and that means that's your long term right, So you're
Speaker 1: looking at holding positions from anywhere from two to five
Speaker 1: to ten to twenty thirty years. So we want to
Speaker 1: make sure if we're going to be involved in trading,
Speaker 1: we figure out what is our palate for trading. I
Speaker 1: will personally tell you I don't have the stomach for scalping.
Speaker 1: I don't have the time for it. I got too
Speaker 1: many calls, I got too many meetings. I wouldn't succeed
Speaker 1: at scalping right day trading again, I'm traveling a lot,
Speaker 1: moving around a lot. When I was at work, it
Speaker 1: was tough. I got kids, I'm trying to teach them
Speaker 1: how to skip and hop and hula hoop, and it
Speaker 1: was too much. Right, I can't concentrate on it. Swing trading.
Speaker 1: I was like, okay, I can give that a try.
Speaker 1: You know what, I need more time than a week, right,
Speaker 1: especially how I like to do what I like to
Speaker 1: do my research, take my time, make the investment, and
Speaker 1: watch it flourish. And I'm pretty good at watching my flourish.
Speaker 1: And we'll come back to that. I feel like that
Speaker 1: when I said I'm coming back to that, We're gonna
Speaker 1: come back to that, though. I'm gonna show you how
Speaker 1: they flourish, all right, So figure out who you are
Speaker 1: before you treat.
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