EP 066: Blocking excess noise, establishing your process and getting screen time w/ Dan Shapiro

Aaron Fifield Podcast Leave a Comment

This week we have returning guest, Dan Shapiro, who was first on episode 32. And after receiving a lot of really great feedback from that interview, I knew I would have to have him back on, so here we are…

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.

“You don’t want to turn a paper cut into a severed head.”

Tweet this

“Is the trade worth it?”

Tweet this

Lessons learnt in this interview:

  • Dan’s gives his thoughts on various intraday timeframes, and gives strong arguments for why he’s a big proponent of trading pivots on hourly bars.
  • Beyond a multitude of indicators (or “squiggly lines”), Dan explains what other factors add to the strength or weakness of a the chart patterns he trades.
  • Questions you should ask yourself before entering a position; how to weigh up if the trade is really worth it. Just remember, trading is supposed to be boring.
  • The way Dan identifies stocks that may provide opportunity, before market open. Which includes staying well away from top pre-market gainers and losers.
  • Why Dan believes you should be a good person in general day-to-day life, but when it comes to trading, you have to be a killer with a god-like complex.
  • Dan shares the same advice he gave to his traders when running a prop firm, about how to define your maximum risk on any given trade and reduce emotion.

Links and resources mentioned:

  • EP 032: Dan Shapiro – If you haven’t heard the first interview with Dan on the CWT podcast, you should definitely check it out next.
  • eSignal – The platform Dan has been using for the past decade, and is still running the same version since install – “Technology Jones” he is not!
  • Trade Ideas – Dan is a big proponent of Trade Ideas technology and has also been using this for well over 10 years now.
  • @DanShep55 – Go follow Dan on Twitter – he’s a “must-follow” (kidding!)

Did you enjoy this interview?

  • Please leave a 5 star review on iTunes to support the show.
  • Subscribe to receive a free guide and an email when new interviews go live.
  • Leave a comment below, what was your greatest takeaway from this interview?
  • Share this interview with your friends and followers.