Explore every episode of the podcast Diary Of A Trader Podcast

In this episode, I had the pleasure of speaking with Bear, a seasoned trader who shared his fascinating journey into the world of trading. Bear started his career in real estate investing, where he experienced significant success but eventually grew tired of the challenges associated with it. This led him to explore trading, initially through a somewhat reckless leap into futures trading after watching a YouTube video.

Bear's early trading days were marked by a mix of luck and a steep learning curve. He candidly shared how his rough childhood, where he had to fend for himself from a young age, instilled in him a resilience and a somewhat delusional confidence that he could succeed in any field, including trading.

One of the most intriguing parts of our conversation was Bear's discovery of a market inefficiency in the ES futures market, which he exploited successfully for a couple of years. This exploit was a turning point for him, providing the confidence and capital to dive deeper into trading. However, he also faced significant challenges, including a harrowing experience during the COVID-19 pandemic where a trade went disastrously wrong, resulting in a substantial financial loss and a long recovery period.

Bear emphasized the importance of forward testing over back testing, building a mental and physical database of trading setups, and the value of discretionary trading. He also discussed his approach to trade sizing, which involves grading trades and using exponential bet sizing based on the quality of the setup.

We delved into his preference for scalping, which he views as his primary income source, while also engaging in swing and big-picture trades. Bear shared his thoughts on the evolving efficiency of markets, the potential in obscure markets, and the importance of being open-minded and adaptable in trading strategies.

Towards the end of our conversation, Bear reflected on the importance of thinking outside the box and not blindly following conventional trading wisdom. He advised new traders to be critical of the information they consume and to develop their own discretionary trading skills.

Overall, this episode provided a deep dive into Bear's unique trading journey, his strategies, and the lessons he's learned along the way. It was an insightful discussion that highlighted the complexities and rewards of trading, as well as the importance of resilience and adaptability in this challenging field.

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In this episode, host Dan sits down with Tom, a former chemical engineer turned $600m futures trader, to discuss his unique journey into the world of finance. Tom shares insights from his early life, highlighting his analytical background and passion for math and science. He reflects on his hardworking upbringing, which included delivering newspapers and investing in mutual funds at a young age. After earning his degree in chemical engineering from Clarkson University, Tom navigated the realities of the economy and eventually transitioned into trading. Tune in to hear Tom's story and gain valuable perspectives on how an analytical mindset can influence success in the trading world.

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00:00:00 - Introduction and Early Life00:00:39 - Guest Introduction: Tom's Background00:01:08 - Tom's Early Analytical Interests00:02:03 - College and Early Career00:02:14 - Economic Realities and Financial Planning00:02:46 - Minimalist Lifestyle and Early Investments00:03:19 - Introduction to Stock Market00:03:42 - Realization About Price Action00:04:45 - Becoming a Trend Follower00:05:08 - Technical Analysis and Charting00:05:25 - Using Charts Over Tape00:05:56 - Profound Realization About Charts00:07:10 - Trend Following Philosophy00:08:05 - Importance of Catching Big Moves00:09:42 - Missing a Big Trade00:10:23 - Commitment to Never Missing a Trade00:12:06 - Support from Family00:12:24 - Wife's Role in Supporting Trading00:14:22 - Transition to Futures Trading00:14:47 - Risks in Stock Market vs. Futures00:15:53 - Tax Advantages of Futures00:17:06 - Tax Straddles and IRS Rules00:18:02 - Margin and Leverage in Futures00:19:08 - Shorting Stocks vs. Futures00:20:00 - Learning Curve in Futures Trading00:20:21 - Diversification in Futures Markets00:21:05 - Benefits of Diversification00:23:07 - Advertisement Break00:24:10 - Focus on S&P 500 Futures00:24:42 - Challenges and Learning in Trading00:25:05 - Struggles in Early Trading Years00:26:08 - Learning from Losses00:26:40 - Influence of Larry Height00:27:02 - Importance of Bet Size00:28:05 - Risk Management and Position Sizing00:29:20 - Finding the Optimal Bet Size00:30:23 - Book on Position Sizing00:31:02 - Book Details and Availability00:32:18 - Automation in Trading00:32:29 - Leveraging Time with Technology00:33:23 - Automating Trading Processes00:34:06 - Example of Manual Data Entry00:35:56 - TrendsStat Overview00:36:07 - Success and Retirement00:37:08 - Memorable Trades00:37:22 - Japanese Yen Trade00:38:38 - Importance of Catching Every Trade00:39:36 - 80-20 Principle in Trading00:39:47 - Mindset and Routine00:40:14 - Balanced and Agnostic Approach00:41:09 - Observing Market Movements00:42:03 - Developing and Executing Strategies00:43:12 - Emotional Detachment in Trading00:44:10 - Importance of Flawless Execution00:44:58 - Ideal Bet Sizing00:45:15 - Variability in Bet Sizing00:46:09 - Personal Bet Sizing Strategy00:47:02 - Client Risk Tolerance00:48:18 - Stability in Client Portfolios00:48:45 - Contrarian Trading During COVID00:49:06 - Shorting Crude Oil During COVID

In this episode, host Dan welcomes Rick, an emerging voice in the trading world, who shares his unique journey from growing up in Bergen County, New Jersey, to studying finance at Fordham University. Rick discusses the fast-paced environment of his upbringing and how it shaped his direct and ambitious personality. He reflects on his early uncertainty about his career path, driven by a desire for financial success. The conversation dives into the intricacies of trading, the importance of acting swiftly in the market, and the balance of making money for clients while also benefiting oneself. Tune in for an insightful look at the mindset of a trader who operates away from the spotlight.

Timestamps

00:00:00 - Introduction and Career Beginnings00:00:39 - Early Life and Education00:01:05 - First Job at J.P. Morgan00:02:31 - Transition to Equity Capital Markets00:04:08 - Moving to First New York Securities00:05:54 - Role as an Analyst in Event-Driven Trading00:07:29 - Experience at National Bank of Canada00:08:22 - Financial Crisis and Job Loss00:09:03 - Returning to First New York00:10:06 - Discovering a New Trading Strategy00:12:13 - Adapting to Market Changes00:13:52 - Importance of News in Trading00:15:55 - Risk Management in Event-Driven Trading00:17:06 - Example of a Recent Trade00:20:52 - The Role of Tape Reading00:23:12 - Challenges in Transitioning from Analyst to Trader00:25:29 - Identifying Relevant Events00:31:00 - Trading in the Pre-Market00:34:02 - Examples of Bad Trades00:37:02 - Learning from Mistakes00:41:37 - Evolution as a Trader00:43:49 - Considering Giving Up00:47:03 - Advice for New Traders

In this episode, I had the pleasure of speaking with David, a seasoned trader with over two decades of experience in the financial markets. We delved into his journey from his early days in college, where he first got intrigued by the world of day trading, to his professional career as a prop trader.

David shared his initial misconceptions about the stockbroker role, thinking it would involve picking stocks and managing money, only to find himself cold-calling clients. However, this experience laid the foundation for his understanding of the market. His first trade during the NASDAQ bubble in 2000 was a significant learning experience, where he lost a substantial amount of money but found himself hooked on the thrill of trading.

We explored David's early life influences, including his childhood experiences with gambling in amusement arcades, which shaped his propensity for risk-taking and his eventual trading style.

00:00:00 - Introduction and Initial Banter00:00:40 - Guest Introduction: David's Background00:00:55 - David's First Trade Experience00:05:35 - Early Life and Relationship with Money00:09:17 - Career Path and Trading Aspirations00:12:00 - Challenges in Early Trading Days00:17:23 - Prop Trading Strategies and Environment00:20:38 - Why Traders Don't Walk Away After Success00:24:21 - The Evolution of Prop Trading Firms00:29:41 - Benefits of Trading in an Office Environment00:33:10 - Diversifying Trading Instruments00:34:20 - Overcoming Tough Patches in Trading00:38:38 - Writing a Book on Trading Experiences00:42:39 - Considering Giving Up During Tough Times00:46:28 - Reflecting on Career Mistakes and Lessons00:48:36 - Closing Tradition: Question for the Next Guest00:50:16 - Where to Find David Online00:51:03 - Conclusion and Farewell

In this episode, I had the pleasure of speaking with Eduardo, a seasoned trader with a fascinating journey. Eduardo shared his early life growing up in Caracas, Venezuela, and how his initial interest in the stock market was influenced by Wall Street and the adrenaline rush of trading. Despite starting in engineering, Eduardo's passion for finance led him to pursue an MBA and eventually dive into the world of trading.

Edu grew his trading account to $1.6m. In this episode we get some hard truths and great lessons from a trader who started from nothing, saw rock bottom and turned adversity into greatness. 

Time Stamps Below

00:00:00 - Introduction and Opening Remarks00:00:39 - Eduardo's Early Life and Background00:03:37 - Professional Journey Before Trading00:05:08 - Discovering a Passion for Trading00:07:10 - Choosing Stocks Over Other Assets00:09:41 - Changes in the Small Cap World00:13:02 - Challenges with Hard-to-Borrow Stocks00:14:07 - Early Challenges in Trading00:17:45 - Managing Expectations and Setbacks00:23:01 - Overcoming Financial Pressure00:28:05 - Turning Point in 202000:33:20 - Learning from Blown Accounts00:36:50 - Building Mental Capacity to Size Up00:41:24 - Future of Trading and AI00:47:52 - Closing Tradition and Final Advice00:49:09 - Where to Find Eduardo and Upcoming Events

In this episode, Andrew Aziz shares his journey from being an engineer to becoming a full-time trader. He discusses how he initially started with day trading, driven by the desire to grow his small account faster. Andrew also highlights the mistakes he made as a beginner and how he eventually settled into active trading. Tune in to learn more about Andrew's experience and insights into the world of trading.

00:01:36 Day trading allows for faster capital growth. 

00:08:08 Trading stocks requires strategy and risk management.

00:13:07 Separate trading from daily life. 00:19:13 Importance of consistency in trading.

00:25:32 Risk management is crucial.

00:30:24 Importance of mentorship in trading.

00:35:36 Resilience is key in trading.

In this episode, the host interviews Jason, a trader, who shares his journey into trading and the ups and downs he experienced along the way. Jason talks about his initial fascination with the market and how he decided to dive in and start trading. He discusses the excitement of being in a bull market and making money, but also the reality of losing it all and realizing he wasn't a genius. Jason shares his learning process, which involved reading books and learning about technical and fundamental analysis. Throughout the interview, he emphasizes the importance of continuous learning and perseverance in the trading world.

[00:00:19] Going long on April's week.

[00:04:52] Super contrarian trading style.

[00:08:29] The importance of having a process.

[00:14:46] High probability of making money.

[00:18:25] Short term trading environment.

[00:19:10] Short term trading failure rate.

[00:25:56] Fundamentals vs. market predictions.

[00:28:01] Squeezing the shorts.

[00:30:42] AI and market edges.

[00:34:22] Making money in politics.

[00:39:22] Developing Your Trading Process.

[00:42:07] Biggest misconception about the market.

[00:45:03] The future of trading.

[00:49:16] Giving back and mental well-being.

The podcast features two traders, Chris and Peter, who discuss their backgrounds and approaches to trading. Chris got into trading as a summer job in 1980 and was hired for his non-traditional background and ability to adapt to changing market conditions. Peter, on the other hand, got into trading out of fascination with the dynamic nature of capital flows and as a way to challenge himself. Both Chris and Peter come from Buddhist backgrounds and incorporate mindfulness and meditation into their trading.

00:00:46 Non-traditional backgrounds in trading. 

00:06:12 Psychological well-being important for trading success.

00:12:29 AI can predict market behavior.

00:18:18 Discipline and regulation are key.

00:27:54 Trade what's in front of you.

00:32:20 Market profile is a tool.

00:39:44 Train mindset to manage anxiety.

00:43:32 Use physiological interventions to manage stress.

00:55:32 Take small losses to survive.

00:59:31 Gratitude in trading is crucial.

01:03:11 Invest in what interests you.

You can reach out to Chris and peter using @techgnostic and 

@Chris_C_Cady

Welcome back, folks, to another captivating episode of The Diary Of A Trader Podcast. Today, we're in for a real treat as we sit down with the incredible Kunal Desai. We're about to embark on a journey through Kunal's fascinating life, starting from his early days in Michigan where his dad's trading passion sparked something magical within him, fueling his own love for the stock market.

Get ready to hear Kunal open up and share his invaluable insights into what it takes to thrive in the cut-throat world of trading. Believe me, this interview is not just insightful, it's downright intriguing.

We're diving deep into Kunal Desai's gripping story, uncovering the captivating blend of passion, ambition, and an unyielding pursuit of success. Brace yourself for a thought-provoking episode that will challenge your beliefs and ignite the fire within you to seize your own opportunities.

Alright, folks, get comfy, grab your favorite beverage, and tune in. This is going to be one heck of an episode you won't want to miss. So, sit back, relax, and enjoy the ride as we present another exciting installment of The Diary Of A Trader Podcast.

00:00:38 Trading in the early 2000s.

00:05:41 Stock trading involves active research.

00:11:15 Nighttime scanning for big trends.

00:16:22 Morning routine crucial for trading.

00:21:49 Build a strong trading foundation.

00:27:14 Trading requires building a foundation.

00:34:00 Building skills > capital in trading.

00:42:05 Trade with the trend.

00:44:27 Markets follow predictable patterns.

00:49:48 Build your edge, avoid distractions.

00:54:43 Look for pricing inefficiencies in new industries.

01:00:02 Takeaway: Learn stock trading in 60 days.

This podcast episode features an interview with successful trader Joseph Gasperoni aka JTrader, who shares their journey into the trading world. The trader talks about their motivation to get into trading, which stemmed from a desire to avoid the financial struggles experienced by their parents. They also share their experience of trading in the Italian market at a young age, with limited knowledge about stocks and the market, and how they returned to trading later in life and expanded to US stocks. The episode also features some quotes about the nature of trading and the financial world.

00:04:56 Small caps provide extreme volatility.

00:11:00 Push yourself for success.

00:12:30 Adapt to changes for success.

00:19:58 Believe in yourself and push limits.

00:25:20 Believe in yourself and adapt.

00:37:01 Start small and grow.

00:38:10 Trade small to learn.

00:49:38 Women make better traders.

00:51:13 Achieve goals, not fears.

00:57:36 Act now for financial success.

In this episode of "Diary of a Trader", the host introduces Ardi Aaziznia, a co-founder of Bear Bull Traders and Peak Capital Trading, and author of the bestselling book "Stock Market Explained". Ardi shares his journey from studying finance at the University of British Columbia to becoming a successful trader and entrepreneur. The episode explores his early career in wealth management and his expertise in option derivatives. Listeners learn about Ardi's remarkable understanding of the complex world of finance and his drive and passion to succeed, which was harnessed after making a significant move from Iran to Canada.

[00:01:33] Trading journey from Iran to Canada.

[00:04:07] Early interest in business.

[00:09:56] Implied volatility in options.

[00:11:37] Stock options and dividends.

[00:18:03] Trading failure rates.

[00:19:30] Realistic expectations in trading.

[00:22:42] Trading as a Business.

[00:26:25] Trading naked options vs. spreads

[00:32:18] Good trader qualities.

[00:35:58] Risk-taking and performance.

[00:37:24] Predicting stock market success.

[00:41:27] Narratives follow the price.

[00:45:06] Asset allocation for portfolio building.

[00:50:31] Investing vs. Trading.

[00:51:19] Passive investing advice is bad.

[00:55:35] AI and complex algorithms.

[00:58:52] Practical advice for new traders.

[01:02:32] Financially inside of you.

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.

Time Stamps

[00:00:38] Early days of Stephen's career. 

[00:03:53] Trading education and progression. 

[00:08:22] Being on the trading floor.

[00:10:49] Trading on the floor.

[00:15:31] Correlation of all markets. 

[00:18:38] History of Market Profile. 

[00:23:03] Trading nuances and tendencies. 

[00:24:49] Segmenting the market by volatility. 

[00:28:30] Managing trades and psychology. 

[00:31:47] Trading environment and profitability. 

[00:35:06] Trading options and spreads. 

[00:38:49] Selling premium and risks. 

[00:43:15] CapFlow 32 software. 

[00:45:57] Trading discipline and approach. 

[00:51:14] Leveraging trade opportunities. 

[00:55:12] Longer time frames for returns. 

[00:57:29] Market sentiment and trading. 

[01:01:20] Trading advice for beginners.