New Interview Posted at Trader Interviews – Trader Scott the Cocktail Napkin Technician

Tim Bourquin at TraderInterviews.com posted a new featured interview with a full-time swing trader who shares his strategies for stock selection, holding period/strategy, and exit plans.

Interestingly enough, he referred to himself as a “Cocktail Napkin Technician” which means that he keeps his methods as simple as possible – so much so, that it wouldn’t take more than a cocktail napkin to share them!  I thought that was a neat aspect.

Tim has allowed me to share a clip of today’s interview:

Tim Bourquin Interviews Trader Scott

In introducing today’s featured interview, Tim writes:

Scott watches a basket of 40 stocks each day from which he decides to trade four or five of them.

The stocks in the basket change based on which sectors and industries are moving the most, but the approach to finding the right setups within the basket does not.

He describes his style as a “cocktail napkin technician,” meaning that he can describe his trading techniques on something as small as a bar napkin because it is simple and straightforward.

In the conversation he reveals his favorite setup and the time frames he watches each day.

We also discuss why his “sweet spot” is swing trading from one to three days and how he scales in and out of positions using something he calls a “4-tier system” which he explains for us. At around minute 20 I ask him to describe a great trade and a bad trade he’s had recently. His description of both is great and really helps us understand how he looks for money-making trades.

You can also download a different, but full 60-minute interview (link here), with a successful trader or by clicking on the logo in the player.  Members access all archived interviews (including one I did with Tim on June, 2009 entitled “How to Trade Trend and Range Days“).

I’m a proud affiliate of Trader Interviews.com and thankful to Tim for all his hard work and releasing these interviews for us!

Corey Rosenbloom, CMT