Roger Scott, Chief Trading Strategist of WealthPress, was interviewed on Mission Matters Money Podcast by Adam Torres.
Apply to be a guest on our podcast here
Roger Scott is an entrepreneur, expert trader, system developer, and Chief Trading Strategist of Wealthpress.com. His mission is straightforward: He wants to teach as many people as possible how to become better traders and investors in this complicated market.
Watch Full Interview:
How did you get started?
A friend introduced Scott to the stock market a few weeks before he was accepted to law school. Although he was planning on becoming a lawyer, he says the market bug bit him, and he spent as much time in law school researching the market as his own coursework. He never practiced law, but he notes law school taught him how to think. Today, he wants to give people the skills to take their trading to the next level and understand what it takes to win in today’s complex market environment.
Swing trading, short and medium-term trends
Roger Scott explains swing trading as an activity that takes advantage of short-term price swings in stocks that last anywhere from three days to three weeks. Every tradable asset is subject to two kinds of trends: long-term and short-term. “In swing trading, we are doing the short term trend, whereas position traders or investors would take advantage of the long term trend,” he says.
Market volatility & momentum
“The problem with day trading is, it’s not enough time for your profits to develop because you’re only giving yourself six and a half hours within the trade. So your accuracy has to be astronomical,” Scott notes. “So in my personal experience, day trading is not the best way to utilize your time. I find that positions that last anywhere from a few days to a few weeks tend to work well with options, and they do well with that type of timeframe.”
Stock options and ETFs
Stock options have grown in popularity, Scott says, because ETFs (exchange-traded funds) have pretty much replaced ordinary commodities and futures. They bridge the gap between commodities and stocks. Even everyday traders are now trading stock options; they’re incorporating these ETF options for currencies, commodities, cryptocurrencies, and more.
He notes that stock options are more extensive and powerful now, not just because of their liquidity and what people can do with them, but also the assets that can be traded with it, e.g., taking a mutual fund and trading it like a stock. As a result, he says ETFs are replacing ordinary commodities and futures.
Scott believes WealthPress.com is one of the fastest-growing financial publishers in history because it gives people accurate, usable, actionable information people can apply in their trading on a day-to-day basis. That’s the reason he says he launched the site: he wants to communicate the truth about what makes markets move.
WealthPress has a variety of programs for a variety of clients who come from all walks of life. Some programs are for clients who have more money to trade with, while others are geared toward clients with less.
“We have several flexible programs for all types of traders, whether you’re brand new, or you’ve been doing this for 30 years,” Scott says. “I think for anybody who wants to delve into the future of trading, there’s no better way than to get started with WealthPress right now.”