Jason Shapiro shares his journey in trading, from early mistakes to developing a disciplined approach. He emphasizes the importance of understanding market positioning and the role of risk management in successful trading.
He also discusses the significance of negative correlation in his trading approach and the impact of market trends on his strategy. Jason shares his insights on trading discipline, mindset, and the importance of sticking to a trading process.
Podcast Interview
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Interview Link
X – @Crowded_Mkt_Rpt
YouTube – @crowdedmarketreport
Website – CrowdedMarketReport.com
Recommended Books
Market Wizards by Jack Schwager
The New Market Wizards by Jack Schwager
Hedge Fund Market Wizards by Jack Schwager
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Key Lessons
[08:01] Being a contrarian can get you very run over, if you’re doing it in a weird, stubborn kind of way.
[08:46] No matter what you do, no matter what kind of trading you do, you have to let the market confirm what you want to do first.
[16:33] If you’re trying to beat the market, you have to beat the discounting mechanism.
[18:22] You’re certainly not going to predict the future better than the market because the market is everyone in the world predicting the future at the same time.
[21:11] You just have to keep sticking to the process and let it work for you over time.
[29:05] You’d rather be in the trends that are not crowded and not be in the ones that are massively crowded.
[44:21] Quit trying to outsmart the market and just focus on making money.
[48:06] The only difference between a guy that works for a hedge fun and manages $1Billion and you or some retail trader, the only difference is the business cards.
[49:13] If you want to be part of a very small amount of people, then you have to think differently than the large amount of people.
[57:38] The more in life that you give, the more you get back.
