Dan Shapiro is an extremely honest and tell-it-like-it-is person, which might explain why he’s so popular. If you recall, he was on episode 32 talking about the mental and psychological aspects of trading.
Dan came from humble beginnings and bounced back from pretty big failures to become one of the most successful traders. If you remember, he borrowed money from a local loan shark for his first trading account which helped him to work for one of the largest prop firms.
Tweetables:
“I really took this business for what it is. It’s not the euphoric love-fest that everybody thinks they’re involved with.”
“Once you’re trading your PnL instead of the setup, you might as well wrap it up for the day.”
What’s covered in this interview:
- Dan’s opinion on different intraday timeframes, and why he believes in trading pivots on hourly bars.
- What other factors can add to strengths or weaknesses of chart patterns Dan trades beyond different indicators.
- What you need to ask yourself before entering a position.
- How you can determine of a trade is really worth it. Keep in mind trading should be boring
- How Dan picks stocks before the market opens that may provide opportunity. This also includes avoiding top pre-market losers and gainers.
- Why you should be a good person in your daily life, but you need to be a killer with a god-like complex when it comes to trading.
- Dan’s advice he shares when he ran a prop firm on how to define maximum risk on any trade and take emotions out of it.
Links and Resources:
- EP 032: Dan Shapiro – Dan’s first appearance on Chat With Traders. An equally excellent interview.
- eSignal – Dan’s been using this platform for the past 10 years. Fun fact: he’s been using the same version since he first installed it.
- Trade Ideas – Dan high recommends Trade Ideas technology and also used this for over 10 years.
- @DanShep55 – Follow Dan on Twitter
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