Episode 219: The Scalper’s Mentality and Long-Term Trading

by robbooker on January 13, 2014

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In this episode of The Traders Podcast, your host Rob Booker responds to a tweet he received from someone who said he’d love to be a long-term trader, but his scalper mentality doesn’t work well with long-term trades. So, as one might expect, Rob launches into all the possible definitions of “scalping” and a little history on the word’s unpleasant origins. Then Rob explores scalping in the trading sense and examines a few reasons why this sort of scalping can be problematic (though, admittedly, not nearly as problematic as the brutal war-time practice). Nevertheless, Rob also briefly addresses what constitutes effective short-term trading and promises a future episode on this topic. Tune in and enjoy, and thanks for listening to The Traders Podcast.

Links for this episode:

TFL365.com

Rob on Twitter: @RobBooker

The Traders Podcast on Twitter: @TradersPodcast

E-mail us! Producer@TradersPodcast.com

Trader Interviews.com

{ 5 comments… read them below or add one }

Wade Moore January 31, 2014 at 2:02 am

Short term trading is not the best way for me to trade. I did take off two weeks as suggested, during which I studied the NLP for Traders course, enrolled it the Big Profits course, and studied Bull and Bear Flags. Additionally, your podcast recordings are educational and entertaining. I know no traders personally, yet, the outcome I seek is being a successful trader. To that end, I hope you won’t mind if I hitch a ride on your bandwagon.

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robbooker January 31, 2014 at 10:51 am

Wade, welcome to the family! Looking forward to meeting you personally and getting to know you! Where do you live? Happy Friday! – Rob

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Wade Moore January 31, 2014 at 11:37 am

Rob,
I live in Los Angeles. I know that you are a busy fellow (podcast, trade updates, webinars, trade shows, and family) you truly live an amazing life. The trader I believe that you are, is the trader I have chosen to model. Have you any upcoming public appearances? Wade

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German February 20, 2014 at 9:33 pm

First of all I just want to say I am glad I found your podcast! I’ve listened to 2 podcast so far and plan on listening to all of them! I trade the 1 hour chart and use the 5 minute chart for confirmation would you consider that scalping?

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German February 20, 2014 at 9:50 pm

So trading 4 hour charts and above with higher time frame confirmations interesting. I need to switch I am preferring not to at the moment and taking off 2 weeks of trading would help for the people that do want to change to long term trading they say that it takes around 24 days for a habit to form. So i am guessing if you don’t do something for certain amount of days it breaks the habit.

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