Establishing your trading process, and getting screen time | Dan Shapiro
Вставка
- Опубліковано 15 чер 2016
- EP 066: Blocking excess noise, establishing your process and getting screen time w/ Dan Shapiro
This week we have returning guest, Dan Shapiro, who was first on episode 32 (chatwithtraders.com/ep-032-da....
Dan works on an intraday timeframe and predominately trades high beta stocks. He’s been trading for 16 years, and during this time has experienced the extreme highs and lows that this business can throw at you. For a good part of his career, Dan was heavily involved in the prop world, but now trades independently from New York.
Over the next 60 minutes you’ll gain some insight to Dan’s methodology, thoughts on managing risk, an outsiders view on the current state of prop trading, and more…
This interview will leave you with plenty to think about, and may even help you to adjust your mindset - if that’s something which is holding you back.
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LINKS
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Interview is awesome! How can you not be a fan of someone who is as straightforward as Dan and doesn't beat around the bush...love it!
You’ve come a long way bro. I am a beginner trader. I follow your contents on UA-cam.
“ I wanna be in organic, boring, lethargic trades that have natural buyers that clean up sellers...” Love it
Absolute Hero
"Next thing you know your sweeping the floors at the local IHOP"
"Sir you're applying for Wendy's, at least get that right"
I learned the most from Dan and Michelle interviews. Can't thank you enough for making it happen!
Glad u enjoyed
+Hasan Islam, that's great! For others; here's a link to the interview with Michele Koenig: ua-cam.com/video/Bf6YKj-2Yr4/v-deo.html
My heart rate just hit 180 listening to Dan.
"Next thing you know you're swiping the floor at a local I-hop" Pure gold
This is great. The free training on the website is a game changer.
I think the 60 min charts are awesome to give you a real view of supply and demand,will definitely start using it,thanks dan
+Josh Novus, that's good you got at least one action item from this. All the best!
Dan is the man!...straight shooter, thank you 🙏 for powerful insight. Thank you Dan and Aaron! Great 👍🏼 interview!
So far the best podcast I hear about stock market.
Good
1. Rule Based / Personality / Record Keeping
I'm confused by viewers commenting that this is useful. Dan's strategy: Look at 1-hour candle charts with all averages and bollinger bands displayed (daily/weekly/longer?), and if it breaks above or below the range (at some point?), then buy/sell. Uh ok?
Aaron does a stellar job as always trying to keep this on track and asking relevant questions, but Dan is worthless at explaining something that he describes as very simple and straight-forward. Dan's saving grace is that he's actually a compelling speaker. It would have been amazing to hear him say, "So here's an example trade with this strategy..."
I thought some of the things he said were pretty basic but it was the conviction in which he said it.... his basic trading premise sounds like it could be boiled down into something like... monitor a slew of technical indicators to identify demand/supply zones... wait for a reaction followed by confirmation and confluence off that zone.... decide if you want to take the trade based on whether or not the Risk reward is higher than something like 5:1.... cut your winners short and let your profits ride.
OMG what an amazing interview Aaron!! Def one of your best, this needs to be mandatory listening for all traders, keep up the good work!
1:03:26 man i listen to this every day as motivation
"Stay Humble" Love it. Great interview all around and so many great things to take from this interview. Thank you for this content.
Impressive, thanks a lot to Aaron and especially Dan Shapiro!
This is absolute gold.
Heard several of your podcasts, Dan is the most straightforward, transparent and cut and dry talk...
An absolute gem...awesome interview..thanks Aaron and Dan..keep'em coming :)
God Bless you Shep, you are a bloody legend!
Great Interview with lots of insights from a real trader trading in the real world love the no BS rundown of the state of affairs.
Charlie Lalut thx brother. God bless
watched that for like x3 times, gonna say that again, best interview so far
Very valuable information and analysis all podcasts are a prerequisite for new traders
“And I tell em... a lot of cocaine” xD I died
This is so good! I cant help but binge on these podcasts! Thanks Aaron
So thankfull for these videos, here are true insights in trading! thank u
love this guy..listened to his first interview..got inspired and back for some more
someone telling you how they actually trade. this is GOLD! thank you DAN!!!
This was truly inspiring. Thanks for doing this podcast. Every episode is amazing, and I'm hooked.
+Kinzerous, no trouble buddy. Thanks for listening!
Wow, great inspiration Dan. Thanks Dan & Aaron.
+MATHEW PAULSON, no prob! Cheers for listenin'
Great stuff man ...thank you.
Listening to Dan motivates me
Great interview.
This guy is a legend.
What a character! Great stuff.
+Brendon Williams, good to hear you liked it man.
Love your Podcasts Aaron, very informative for beginner and experienced traders.
this is an amazing episode, i’ve made the new trader mistakes he mentioned and have been getting so much value on your chats to improve myself. thank you
Great interview thanks DAN !!
Superb interview. Full of valuable information.
that last motivation speech got me pump! Thanks for the upload
Great great great interview. Just what I needed to hear
Beautiful!!!
Excellent!
1% is way too high for new traders, it means if you get 50 trades wrong in a row (easy for newbies) you've wiped out half your account.
I employ 0.1%, ie, 1/1000th of my account. So in the example he used here, you wouldn't risk $250 of a $25K account, you'd risk $25, to make $250 - $500. For a newbie, that's awesome profits and minimal loss, keeps you in the game, both financially and mentally.
0.5% for newbies. Anything less you will get stopped out repeatedly it will get annoying.
@@anthonynguyen8031 Stop loss has nothing to do with $ risk per trade. Your stop loss should be placed where your reason to enter the trade is invalidated. Eg. You see an ascending triangle forming on the chart so the stop should be placed below the previous lows, if it turns out to be a fakeout you only lose 1-3% of your acc. depending on your risk tolerance. Now that previous low could be 1, 2 or 3 % away from the entry so you would have to reduce your position size to match your risk per trade.
E.g. Entry : $10
Previous Low: $9.25
This entry is 7.5% away from your stop.
If you are risking 1% of a $25k account then your position size should be 333 shares.
Hope this helps.
Great interview, one of the best on Chat with Traders
+Armando Cabrera - yeah, Dan's awesome to speak with. He was also on episode 32, if you haven't heard it: ua-cam.com/video/yOOrqholDMY/v-deo.html
Episode 32 was great too, three traders I would like Chat With Traders interview are Modern Rock, Alex21 and Monoco Trader all Twitter superstars. Thank you, great job your doing with these dynamite interviews.
I think I love this guy
Great one again ;)
Great inspiring interview and really like the presented views
You're the star! I like this cat!!
Awesome
Such a great channel, how do you get these people? Thanks ever so much.
+LeftHandedMuso - you're welcome dude. Thanks for watching!
Thanks 👍
Good stuff
Thank you so much for your passionate message for traders like me. I will keep in mind what you said that I am the star and the best of all my trading. It will help me to trade like a pro.
How does this not have a lot more views?
@34 powerful words
Aaron I am a recent follower of your Podcasts, they are great, I mainly follow the US markets but can you tell me, being a fellow Aust trader, can you advise me of the best live chart feed/screener for the ASX that is compatible with an Apple system, as most aren't Apple friendly. Thanks very much Brett
@34:30 gold
Really great interview
I appreciate the honesty in Dans analogies regarding new traders ie NEW drivers. His 1hr strategy seems to make a lot of sense! But on the high beta names how can one generate at least a worthwhile amount unless they are working with significant capital. If one can only afford 100-200 shares of FB for a
$.25 move after broker fees it doesn’t seem worth while. Thanks
Options
Sounds like Jordan Belfort
he has all the MA's including 150s, he uses bollingers and everything most traders use and his "Charts look like a child with a crayon on a piece of paper" and he says "blocking excess noise?" wtf!?
hearing them talk about commission rates in 2021 like.. yeah..those rates.
I am confused about what timeframes I should use as it correlates with the amount of funds you've, how your days is scheduled and which one you feel best with. I'm not well funded but what triple screen timeframes should I use?
Being watching since I was 17 yrs old in college and still do at the age of 18. Gonna be on a podcast one day bro.😅
my maximum risk is two percent of my capital
That means you still have a 9-5
@@VicDamoneJr82 Why would that mean he still has a 9-5? Do you mean a 9-5 job?
30:42 what is "local ihut"?
38:40
🎉
Poor IHOP employees
1:02:50 #realtalk
what is your webiner , thanks
.....
I thought it was Amazon not Apple..
Last episode I watched said you have to be humble now I hear you have to think you can walk on water. So basically to trade you have to be Jesus.
Refreshing to hear someone who puts his chart full of indicators. One of the worst cliches I hear is the "Christmas tree". Max 1 indicator is bullshit. Use as many/few as you want.
I can't understand the English slang what to do, any other ways to get ideas
Funny. He talks like Lucci. Same cadence. Says things 2 times
Is he still in business?
beamerUSA Yep!!
He’s killing it
33
The 60min chart is bad because the first candle represents only the first 30minutes of the day... misleading
And i really understand the killer mindset but to not set up a stop before the trade is also misleading.. anyway he has his own style but he shoves his ideals into the throats of the viewers likes its the only truth out there, this man definitely has been through alot of bullshit but a beginner really shouldn’t learn from him some of those things
Ive traded like this guy before with all those indicators, now I only use price action with volume and I realized that anything more than that , like this fellow, is amateur, read volume price analysis by anna couling
ASDF123000 His system works!!! Respect that at least!
Oh man, was more of a sermon, rather than 2 people chatting. Don't like it when 1 person keep talking for an extended period of time. You gotta ask questions Aaron!
Struggled to understand this dude
I see why he calls himself “King of the Idiots” I like his first interview better.
This guy can't stop talking and he never answers the questions. Anybody that thinks this guy is going to give you any information don't even waste your time on this recording. There are far many better ones than Dan. What a waste of my time.
this guys euphemisms are so annoying
this guys hilarious
This guy found a system that works for him! Have you?
Moral of the story, when you start sucking at trading open a chat room! 🤡 Aaron could you please stick with interviewing fund managers please and not chintzy chat room hosts
That’s what you got out of this?
Lots of words, zero value
Literally no one listening to this is trading 1-2M shares a month Dan. Cmon son 😂😂
Excellent!
34:05
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