Establishing your trading process, and getting screen time | Dan Shapiro

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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· More interviews: chatwithtraders.com
· Free resources: chatwithtraders.com/resources
· Sponsored by BrokerNotes: brokernotes.co/
· Twitter: / chatwithtraders
· Facebook: / chatwithtraders
· Instagram: / chatwithtraders_
· Soundcloud: / chat-with-traders
· Stitcher: www.stitcher.com/podcast/chat-...

[@ehudkrispil]

“ I wanna be in organic, boring, lethargic trades that have natural buyers that clean up sellers...” Love it

[@MattDiamond]

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!

[@sarojchaulagain8918]

You’ve come a long way bro. I am a beginner trader. I follow your contents on KZbin.

[@jonnyvoxrox8446]

Absolute Hero "Next thing you know your sweeping the floors at the local IHOP"

[@charlesmarien5487]

"Sir you're applying for Wendy's, at least get that right"

[@kanaridesign5855]

My heart rate just hit 180 listening to Dan.

[@nonoseeum]

This is great. The free training on the website is a game changer.

[@Arloomni]

So far the best podcast I hear about stock market.

[@hasanz5259]

I learned the most from Dan and Michelle interviews. Can't thank you enough for making it happen!

[@danshapiro8810]

Glad u enjoyed

[@ChatWithTradersPodcast]

+Hasan Islam, that's great! For others; here's a link to the interview with Michele Koenig: kzbin.info/www/bejne/eJeZin6gYpeMqJY

[@urbancouturejewelry845]

"Stay Humble" Love it. Great interview all around and so many great things to take from this interview. Thank you for this content.

[@nicolasharvie7833]

"Next thing you know you're swiping the floor at a local I-hop" Pure gold

[@richtrends420]

Dan is the man!...straight shooter, thank you 🙏 for powerful insight. Thank you Dan and Aaron! Great 👍🏼 interview!

[@johnnyqwest22]

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!

[@marketing00123]

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

[@ChatWithTradersPodcast]

+Josh Novus, that's good you got at least one action item from this. All the best!

[@XpLoeRe]

watched that for like x3 times, gonna say that again, best interview so far

[@vikramg5518]

Heard several of your podcasts, Dan is the most straightforward, transparent and cut and dry talk...

[@charlielalut839]

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.

[@danshapiro8810]

Charlie Lalut thx brother. God bless

[@jnguyen424]

This is absolute gold.

[@Ninja-iq2xt]

Impressive, thanks a lot to Aaron and especially Dan Shapiro!

[@Technics_Trader]

1:03:26 man i listen to this every day as motivation

[@kaizen1723]

This is so good! I cant help but binge on these podcasts! Thanks Aaron

[@coolmugs]

An absolute gem...awesome interview..thanks Aaron and Dan..keep'em coming :)

[@orapronobis2614]

Very valuable information and analysis all podcasts are a prerequisite for new traders

[@anthonynguyen8031]

that last motivation speech got me pump! Thanks for the upload

[@acen2178]

Great interview, one of the best on Chat with Traders

[@ChatWithTradersPodcast]

+Armando Cabrera - yeah, Dan's awesome to speak with. He was also on episode 32, if you haven't heard it: kzbin.info/www/bejne/r4Cyo6SepNF3g7s

[@acen2178]

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.

[@quantumindicesfuturestrade6873]

Great interview.

[@KevinNguyen-wk1tj]

Listening to Dan motivates me

[@codystephenson3607]

someone telling you how they actually trade. this is GOLD! thank you DAN!!!

[@brendowill19]

What a character! Great stuff.

[@ChatWithTradersPodcast]

+Brendon Williams, good to hear you liked it man.

[@kinzerous7361]

This was truly inspiring. Thanks for doing this podcast. Every episode is amazing, and I'm hooked.

[@ChatWithTradersPodcast]

+Kinzerous, no trouble buddy. Thanks for listening!

[@hamisintunzwenimana8083]

Good 1. Rule Based / Personality / Record Keeping

[@Mr.Whites_Forex]

This guy is a legend.

[@breyfiu9]

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

[@charlesbabu5845]

love this guy..listened to his first interview..got inspired and back for some more

[@stevenmorgan9549]

Great great great interview. Just what I needed to hear

[@reeldarkpool8672]

Love your Podcasts Aaron, very informative for beginner and experienced traders.

[@bernardinosteed9174]

So thankfull for these videos, here are true insights in trading! thank u

[@MP-gk2jr]

Wow, great inspiration Dan. Thanks Dan & Aaron.

[@ChatWithTradersPodcast]

+MATHEW PAULSON, no prob! Cheers for listenin'

[@bulltraderpt]

Another great interview! He's right why in the world would you listen to Twitter or frequent bulletin boards? There's no reason in the world, unless you've no idea what to look for. And if you've no idea what to look for you've, no business trading.

[@mrahmancad]

Superb interview. Full of valuable information.

[@XxBoBxX777]

“And I tell em... a lot of cocaine” xD I died

[@gmacdonalddc]

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..."

[@quantroots]

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.

[@godsofolympus8938]

Great interview thanks DAN !!

[@JayanthUkwaththa]

Great stuff man ...thank you.

[@scentilatingone2148]

You're the star! I like this cat!!

[@optimisticoutlook4137]

Great inspiring interview and really like the presented views

[@FX_GYPSY]

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

[@richardalan7140]

Such a great channel, how do you get these people? Thanks ever so much.

[@ChatWithTradersPodcast]

+LeftHandedMuso - you're welcome dude. Thanks for watching!

[@captaincleanchicago137]

Excellent!

[@malthus101]

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.

[@anthonynguyen8031]

0.5% for newbies. Anything less you will get stopped out repeatedly it will get annoying.

[@iMP05T3R]

@@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.

[@Stockafella]

Beautiful!!!

[@ConstantinUngureanu]

Great one again ;)

[@domenickbiondo7481]

I think I love this guy

[@user-jq7yu1ec2e]

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.

[@RobHavemeyer]

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

[@christophermiller5752]

Options

[@marcg4762]

Awesome

[@johnschenck8497]

@34 powerful words

[@karimfish4526]

Thanks 👍

[@ZenTradeGame]

How does this not have a lot more views?

[@egorisakson6283]

@34:30 gold

[@Jstaysbusy]

Good stuff

[@doneilchapman5629]

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?

[@doneilchapman5629]

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.😅

[@dominic2446]

30:42 what is "local ihut"?

[@Orwellian444]

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!?

[@bencyber8595]

what is your webiner , thanks .....

[@zackrens]

Sounds like Jordan Belfort

[@jeramykennedy6813]

hearing them talk about commission rates in 2021 like.. yeah..those rates.

[@walteraventurero8682]

my maximum risk is two percent of my capital

[@VicDamoneJr82]

That means you still have a 9-5

[@-LowMileage-]

@@VicDamoneJr82 Why would that mean he still has a 9-5? Do you mean a 9-5 job?

[@fishpiana890]

Poor IHOP employees

[@Ninja-iq2xt]

38:40

[@psilocybin8489]

🎉

[@SSEnrich]

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.

[@aravindsurya5874]

I can't understand the English slang what to do, any other ways to get ideas

[@simplyp9219]

1:02:50 #realtalk

[@stacyflack7620]

I thought it was Amazon not Apple..

[@beamerUSA]

Is he still in business?

[@modousow8832]

beamerUSA Yep!!

[@christophermiller5752]

He’s killing it

[@redot9914]

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

[@nickb2122]

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.

[@jaysteve4442]

Funny. He talks like Lucci. Same cadence. Says things 2 times

[@mrclandestine9000]

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

[@modousow8832]

ASDF123000 His system works!!! Respect that at least!

[@randomvide1]

Struggled to understand this dude

[@Ibby_950]

33

[@PuneetSharma-fb7oz]

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!

[@hustle.dinero]

I see why he calls himself “King of the Idiots” I like his first interview better.

[@oceanblue2386]

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.

[@payton1284]

this guys euphemisms are so annoying

[@codystephenson3607]

this guys hilarious

[@modousow8832]

This guy found a system that works for him! Have you?

[@jacksoreness295]

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

[@christophermiller5752]

That’s what you got out of this?

[@ArchimedeanEye]

Lots of words, zero value

[@jaysteve4442]

Literally no one listening to this is trading 1-2M shares a month Dan. Cmon son 😂😂

[@SunilSethi]

Excellent!

[@capehorn1159]

34:05

[@Ibby_950]

43