[nostradumass]

Seems like an easy answer, but not a short one, unfortunately... someone who trades something with the intent of making a profit. In this case we are talking about equities, but it could be options, futures, commoditites, horses, forex, etc.

I work for a very successful proprietary daytrading firm and these are my personal observations. Arguments over terminology is often a point of contention and i feel that it is couterproductive to argue over "names" so place the name you want within the quotes. The concept/strategy is what is important.

Trading is very much a personality driven business. If you are too risk averse (hesitate too much or can't buy size) or have no discipline (holding losers and turning them into "investements" as mentioned previously) don't get into trading. You will lose your bankroll. If you have what it takes there are several ways to skin that cat.

"Scalpers" have a niche taking really quick (seconds to minutes or hours) small profits over and over with little risk. They can make a dime and risk a nickle and if they are right 50% of the time make a nice living trading a lot of shares. Make sure you have LOW commissions though and don't forget to figure that in. Requires speed on the keyboard and great execution software, as well as DISCIPLINE.

"Position" traders use technical analysis more than open book, etc. (hybrid is changing things considerably) and may hold positions for hours or days depending on the defined perameters of the trade; is it breaking support/resistance, has it reached the pullback assigned, or whatever the trading plan is regarding risk and pullbacks. If you don't have a plan you will lose over time even if you are lucky at first. Don't have to be as fast on the keyboard, but you do need a working knowledge of technical analysis, earnings, etc.

"Swing Traders" use technical analysis and may hold positions for weeks or months depending on the underlying rules they trade by. Bigger risk/reward. Research daily, put on positions less frequently, hold them much longer, place stops and go play golf.

What each of these styles must have in common to be successful is a well thought out plan and executing that plan unemotionally. Trading is not an easy business, but can be the best job you would ever hope for.

We have found that there is a high correlation between people who play poker well and those who trade well. I think that is because they are able to manage risk, don't mind "folding" a bad position, and are able to push size when they "have the nuts" or as close as you can get to that in a trade.

Too long I know, but I made it as short as I could. Sorry for the rambling.