Trading Triumphs: Mastering Discipline and Balance with Scott AKA SmashTheBid
In this episode of "Diary of a Trader", host introduces Scott aka SmashTheBid, who is a systematic trader and founder of SmashTheBid.com mentorship program. Scott shares his decade of trading experience with a focus on work-life balance and discipline. He discusses his $40,000 loss in a single day and the lessons he learned from it. Scott is also a supporter of Traders for Cause and inspires others to combine their trading passion with philanthropy. The episode highlights the importance of discipline, focus, and mentorship in achieving success in trading.[00:01:14] Discipline in Trading. [00:03:31] Cyclical nature of the oil industry. [00:07:32] Trading options vs. stocks. [00:12:49] Risk management and over trading. [00:13:10] Overtrading and being systematic. [00:16:20] Trading with discretion. [00:21:14] Multi-timeframe trading strategies. [00:23:00] Trading without emotions. [00:26:18] Emotional Trading Triggers. [00:29:23] Trading self-reflection. [00:34:34] Traders for a cause. [00:35:27] Meeting Trading Heroes. [00:38:30] Misconceptions about out-of-the-money options. [00:41:47] Taking profits in trading. [00:45:35] Traits of a successful trader. [00:48:18] Reactive trading in tough markets. [00:52:10] Managing gap risk with options. [00:54:52] Work-life balance in trading. [00:58:05] Quitting to go into stocks. Get full access to Diary Of A Trader at diaryofatrader.substack.com/subscribe