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What “Kind” of Trader Am I?

If I were forced to classify myself as a certain type of trader within the markets, my answer would be that I’m a “chart trader”. What do I mean? Let me explain how when you choose to become a “chart trader” you open up a huge amount of flexibility within your trading goals and strategies.

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Transcript:

I was asked, what type of trader are you, Clay?So I thought, hey, let's make a video about it.I've done variations of this videobut it's one where even thoughI have other videos out there,I keep always getting the same types of questions,which is fine, I get it,there are a lot of videos on the channelso I don't expect people to watch through every single onebefore they start asking questions.But I figure, hey, if I can get this one out there,you know, maybe it'll, somebody will stumble across itand then get this question answered,or kind of change their perceptionof what is available out therefrom a trading tool perspective.But as I alluded to in the intro,what kind of trader am I?I've had people ask this, I've had people,maybe not flat out, hey Clay, what type of trader are you?But just kind of based on the way they're talking,based on what they're asking,based on what they're telling me,essentially they're asking, you know,what kind of trading, what kind of traders,what kind of trader am I?And as I tell them, and am going to tell you right here,I am a chart trader.Wait a second, Clay, I've never really heard of that.I've heard of day traders, I've heard of swing traders,I've heard of options traders, I've heard of stock traders,I've heard of crypto traders, but chart trader,what do you mean you're a chart trader?Well the, and to be fair, this is not like unique to me,a lot of people out there are chart traders.And I personally believethat's how they should refer to themselvesas for these reason.But I call myself a chart traderbecause once you know how to use a chart,how to analyze a chart, how to apply a chart properly,then you have just absolutely massive flexibilityto be basically any type of trader you want.What do I mean by that?Well a chart, that didn't work out, there we go,a chart at its core has time,so remember back to, I don't even know,was it middle school, the x-axis, have time,and then what's this, what's this?If you said, the y-axis, good job,you paid attention in math class.And then over here you have price.So first off, let's just think aboutwhat has price that changes over time?Well, let's see, Forex currencies, yeah that, stocks,bonds, futures, crypto currencies,all of these have a price associated with themthat is going to change as time progresses.Fair point?So because you understand how to use this thing hereknown as a chart,then you can go ahead and already tradeall those various things, because well,you know how to read how prices can change over time.It's pretty neat, huh?Chart trader.Now what, what, nothing,well but day trader verse swing trader, Clay,I mean I have this schedule or I have these events goin' onso I can only hit, again, the power of charts.Once you learn how to use charts,part of, when I say, properly learn how to use them,is gonna be, you can manipulate time itself.That wasn't a very good arrow, there we go.Meaning, maybe you have a day job,maybe you can't sit there and watch the computerevery second of the day, that's okay.You would be able to manipulate the chart hereto best suit whatever your schedule is.Maybe you do want to be a day traderwhere you're looking at trade multiple times every hour,multiple times every, just day, that's fine.Once again, once you learn how to properly understandand apply charts, you can manipulate the timeand the chart is going to match upwith whatever your strategy you are attempting.So again, think about it, by being a chart trader,by learning how to use tactical analysis and charts,you have the flexibility to trade anythingthat has a price associated with itthat is gonna change over time.And now you also have the ability to manipulate timeto fit whatever sort of strategy you're lookin' to do,whether that's day trading , swing trading,a combination, investing super long-term,you can manipulate the time for investing too.And then finally,and this is kind of the external one over here,and don't judge my artist skills,but this here is, oh wow, that's really bad.That, yeah, that's real bad.It's so bad that I'm just gonna actually explainwhat that is, that is the Earth.Looks more like a cookie.It does, it kind of looks like a cookie.Earth, meaning that you can tradewherever you want to trade, no matter where you live.Why do I say that?Well again, it all boils back to price verse time.And not to insult your intelligencebut not matter what country you live in,price and time, it is what it is.Now of course, you have time zones and stuff like thatbut that's not what I'm referring to.I'm just referring to the fact thatbecause a chart cares about these bits of data,those data points are universal.And in all actuality,charting was first started by the Japanese,in candlesticks, specifically, but they traded rice.So I mean, talk about the,I mean, just that really goes to show,anything that has a price that changes over time,you can still be anywhere on Earthand you can make all this happen.So what type of trader am I?I am a chart traderand I'm a chart trader for these reasons.If I really wanted to,I could go and trade the Indian stock market,the Chinese stock market.I could go and trade, and I could be in the,to the Chinese stock market,I could go and be a day trader in the Chinese stock market,I could go be a swing trader in the Chinese stock market.Right now, I could immediately go and start to trade Forex,or I could go and trade futures.Now there are little nooks and crannies,so I'm not gonna say it's a perfect translation,but when you understand a chart,you're at least 80% to 90% of the way there.Options is a good example where yeah,there's other dynamics that you need to learn about,Forex, there's a couple different dynamics,but for the most part, at the end of the day,the question as trader that we need to be able to answer is,what do I think the price is gonna do?And if you can't answer that question,then you have no chance at all in trading.And that's where charting comes into play,it's gonna help us answer that question,what do I think the price is gonna do?The price of what?Well fill in the blank.Over what period?Well manipulate the time period for what you care about.Where in the world?Well who cares where in the world you are,because the question boils backto what do I think's gonna go on with the price.So I'm a chart trader and yes,I'm very, very biased towards tactical analysis.I'm very biased towards people learning and using charts,but I think I present a pretty good casein the sense of all the flexibility that it does offer you.If you're out there trading alone currentlyand maybe are in the market looking for a community to join,to assist you in your tradingor to just help you, give you another set of eyeballs,then I do have a private trading communitywhere you can trade alongside meand other experienced traders.So what you see poppin' up on the screen right nowis both an information link,so if you click on the inner circle one,that is going to take you to the pagewhere I explain all the detailsof what exactly come with the community,both the chat room and the newsletter.And then the other image that is popped upis a behind-the-scenes tour,where you can see exactly what is going to be containedwithin the community.I take you through, like I said,a behind-the-scenes tour of everything,and that way you'll know preciselywhat you are getting when you join.So definitely check that stuff out if you are interestedand thinking about wanting to join a communityand let me know if you have any questions.

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How to Kill Your Stress, Fear, and Frustration as a Trader