WEBVTT - Study Hall: What Type of Stock Trader are You?

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<v Speaker 1>Earners. What's up. You ever walk into a small business

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<v Speaker 1>This episode is brought to you by P and C Bank,

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<v Speaker 1>a lot of people think podcasts about work are boring,

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<v Speaker 1>National Association Member FDIC. All right, so this is the question,

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<v Speaker 1>This is the question you gotta figure out. I can't

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<v Speaker 1>answer it, but only you can. And Magan, maybe they

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<v Speaker 1>can put this in the chat. Put this in the chat,

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<v Speaker 1>like what type of investor are you? So the three

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<v Speaker 1>types are going to talk about, and the fourth one

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<v Speaker 1>I'm going to give to you. So there's scalpers, there's

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<v Speaker 1>day traders, and there's swing traders. And so if you

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<v Speaker 1>can't read it, I'll read it to you. It says

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<v Speaker 1>scalping entails the buying and selling of a financial instrument.

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<v Speaker 1>Usually a stock future, a currency, commodity, or even an

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<v Speaker 1>option with the goal of producing a small gain or

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<v Speaker 1>could be a large game on that position. Scalpers attempt

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<v Speaker 1>to profit from short term price movements. So really quick, now,

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<v Speaker 1>this is the most important part for scalping. The time

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<v Speaker 1>frame that scalpers trade whole positions ranges from seconds to minutes.

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<v Speaker 1>And so when I told you to figure out what

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<v Speaker 1>kind of trader you are, a scalper is somebody who's

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<v Speaker 1>in front of their computer and they're doing this by

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<v Speaker 1>the second. I mean every second counts when you're scalping,

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<v Speaker 1>because movement happens, volatility happens, and so people who do

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<v Speaker 1>this are I mean, I always like to say this

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<v Speaker 1>is strictly for livmen, not for freshmen, And since we

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<v Speaker 1>got a lot of freshmen in here, I wouldn't advise

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<v Speaker 1>this yet. If you haven't traded before, I wouldn't advise

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<v Speaker 1>you to start scalping right away. Yes, you can make

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<v Speaker 1>money in it. Is it violatile? Is it risky? Yes?

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<v Speaker 1>And so we want to take that into account. Now,

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<v Speaker 1>there are day traders, and that sounds pretty self expansory, right,

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<v Speaker 1>So the strategy for day training involves taking positions into

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<v Speaker 1>financial assets such as stocks, futures, currencies, same pretty much thing.

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<v Speaker 1>But the day traders tend to hold the abundance of

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<v Speaker 1>trades over minutes and hours, and so my scalpers we're

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<v Speaker 1>talking about seconds and minutes. My day traders, we're talking

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<v Speaker 1>about minutes and hours as a maneuver their transitions throughout

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<v Speaker 1>the changing market conditions and sign out Ian talks about

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<v Speaker 1>this a lot when we're talking about day trading, especially

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<v Speaker 1>in the futures market, where it's hey, we don't we

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<v Speaker 1>trade the open and we trade the close, right, so

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<v Speaker 1>it's between nine thirty to ten thirty, and it's between

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<v Speaker 1>three o'clock to four o'clock. Why momentum shifts in the morning,

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<v Speaker 1>momentum starts to shift again in the evening, and then

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<v Speaker 1>during the day you don't see it as much movement.

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<v Speaker 1>And if you've watched any chart, if you even if

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<v Speaker 1>you watch the NBC, you know as soon as it

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<v Speaker 1>hits nine thirty, you'll start seeing colors flash and it'll

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<v Speaker 1>be ready to be green, to be ready to be green.

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<v Speaker 1>You're trying to figure out what's going on. Trades are happening,

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<v Speaker 1>and so there's a lot of flow that's moving in

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<v Speaker 1>it during those times, and so day traders they capitalize

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<v Speaker 1>on that time movement. Now, and it seems like we

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<v Speaker 1>got a lot of these people in the chat, so

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<v Speaker 1>shout out to everybody that's in the chat. We got

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<v Speaker 1>swing traders. So unlike scalpers and no knock to them,

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<v Speaker 1>and unlike day traders, shout out to y'all. All right,

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<v Speaker 1>swing traders hold their positions for longer time periods. This

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<v Speaker 1>can be for several days, weeks, even months, and is

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<v Speaker 1>dependent on the asset, the trend in other existing positions

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<v Speaker 1>of that swing trade. And so swing traders are a

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<v Speaker 1>little bit more more discipline, more patient, and are looking

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<v Speaker 1>to have returns not immediately but over a course a

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<v Speaker 1>period of time that is a lot longer. So we're

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<v Speaker 1>talking about several days, weeks, and months. Now. I didn't

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<v Speaker 1>put this one in here, but the fourth one would

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<v Speaker 1>be an investor. You're right, you're the You are an investor.

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<v Speaker 1>That's your type of investment, right. You are an investor,

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<v Speaker 1>and that means that's your long term right, So you're

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<v Speaker 1>looking at holding positions from anywhere from two to five

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<v Speaker 1>to ten to twenty thirty years. So we want to

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<v Speaker 1>make sure if we're going to be involved in trading,

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<v Speaker 1>we figure out what is our palate for trading. I

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<v Speaker 1>will personally tell you I don't have the stomach for scalping.

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<v Speaker 1>I don't have the time for it. I got too

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<v Speaker 1>many calls, I got too many meetings. I wouldn't succeed

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<v Speaker 1>at scalping right day trading again, I'm traveling a lot,

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<v Speaker 1>moving around a lot. When I was at work, it

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<v Speaker 1>was tough. I got kids, I'm trying to teach them

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<v Speaker 1>how to skip and hop and hula hoop, and it

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<v Speaker 1>was too much. Right, I can't concentrate on it. Swing trading.

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<v Speaker 1>I was like, okay, I can give that a try.

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<v Speaker 1>You know what, I need more time than a week, right,

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<v Speaker 1>especially how I like to do what I like to

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<v Speaker 1>do my research, take my time, make the investment, and

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<v Speaker 1>watch it flourish. And I'm pretty good at watching my flourish.

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<v Speaker 1>And we'll come back to that. I feel like that

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<v Speaker 1>when I said I'm coming back to that, We're gonna

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<v Speaker 1>come back to that, though. I'm gonna show you how

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<v Speaker 1>they flourish, all right, So figure out who you are

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<v Speaker 1>before you treat.

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<v Speaker 2>An illegal alien from Guatemala charged with raping a child

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<v Speaker 2>States Department of Homeland Security,