There have been so many requests for Dan Shapiro to be on the show, and he’s finally on. He’s a pretty humble guy, and actually called the local loan shark to get money for his first trading account. This was able to get him into the door of one of the biggest prop firms. He credits this experience with shaping into the trader he is today because he was able to interact with so many great traders.
This interview focuses on the mental and psychological aspects of trading. Dan goes into some of the darkest moments in his trading career. He also shares how traders can handle losses, work through slumps, and why it’s more important to care about trading right than to be right.
What’s Covered in This Interview:
- Dan’s time where he consistently lost money for two years after being successful.
- An overview of some of the depressing times he went through when trying to recover him his all time lows.
- Why it’s social media and alert services are really bad for new traders when it comes to helping them progress.
- Why it’s more important to be yourself rather than worrying if you’ll fail at replicating a successful trader.
- What it means to trade your “premium” hand and some of the things that Dan looks for when searching for a quality setup.
- How trading a common denominator he was within charts was a game changer for Dan.
- How to keep going during periods where you’re losing, why it’s beneficial to hide your PnL and why slumps are just a part of business.
- What makes Dan’s mentor, Mayer Offman such a great trader. He would commonly make a million dollars during one session.
- Why Dan believes you shouldn’t play catchup of you miss your window of oppportunity.
Links and Resources:
- AccessATrader.com – To learn more about Dan and the PS60 theory on his website..
- Sang Lucci Interview #1 – An interview Dan did with Peter Zhang (EP 009).
- Sang Lucci Interview #2 – Another interview Dan did with Peter who is also joined by Mayer Offman, the Rabbi of Wall Street.
- @DanShep55 – Follow Dan on Twitter.
- @DanShep55 – Follow Dan on Stocktwits.
