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Learning to trade and be a trader is a lifelong journey with many ups and downs, challenges, hurdles, and hopefully some decent compensation for the strength, trials, and tribulations suffered. Along this journey, it can be helpful, useful, and reassuring to hear the experiences of others who have suffered for their pains and gone on to achieve great success. The guest on this week’s edition of the AlphaMind Podcast is someone who that applies to in many ways.
30 years of trading success brought Jason Shapiro to the attention of Jack Schwager, who was looking for new interview subjects for the latest installment of his brilliant series of Market Wizards books ‘Unknown Market Wizard’. Shapiro’s chapter in the book is called ‘The Contrarian’, which tells you pretty much all you need to know about his approach and style.
In this episode, Jason opens up with about his trading approach, his contrarian philosophy, and a whole host of topics around the trading process which listeners will find fascinating.
Jason talks passionately about trading and his work. Some of the themes Jason talks about include: Why he is a contrarian. How being a contrarian is not the same as being a countertrend. Finding your edge. The importance of getting the process right. Being objective in your views. How markets discount the news. Using the Commitment of Trader’s report. And a host of themes that will inspire and fascinate the listener.
Jason really opens up with great honesty about the realities of trading, of how he has been to hell and back more than once, the pain of losing, the learning experiences of becoming successful than losing it all, the journey and path to better process and practice, of how trading success is ‘the long game’.
This is one of those interviews which is full of nuggets and lessons from beginning to end. Do not switch this episode off early, because it just gets hotter is it goes along.
Jason also talks about the Crowded Market Report, a Futures trading education website that focuses on and supports traders in developing a unique contrarian approach. Also full kudos to the Crowded Market Report, who donate a portion of their proceeds to the Charlestown Early Learning Center, a non-profit organization, to provide a high quality, affordable educational program for 3, 4, and 5-year-old children in the local community.
AlphaMind do not offer trading or investment advice and do not take responsibility for any investment or trading actions or decisions taken by clients or any observers of our material in any form of media, either now or in future.
Editors’ Picks
AUD/USD remains under pressure above 0.6400
AUD/USD managed to regain some composure and rebounded markedly from Tuesday’s YTD lows in the sub-0.6400 region ahead of the release of the Australian labour market report on Thursday.
EUR/USD faces decent contention around 1.0600
The knee-jerk in the Greenback reignited some buying interest in the risk complex and pushed EUR/USD to three-day highs near 1.0680, rapidly leaving behind the recent yearly low around 1.0600.
Gold eases despite risk-off mood
Gold trades in a relatively tight range near $2,390 in the second half of the day on Wednesday. In the absence of high-tier data releases, investors keep a close eye on headlines surrounding the Iran-Israel conflict.
Ethereum trades around the $3,000 support following a surge in validator queue
Ethereum (ETH) continued a sideways movement on Wednesday as investors seemed to be waiting for an upward or downward price catalyst. Despite the price stagnancy, the ETH validator queue - possibly fueled by the DeFi restaking boom - rose sharply.
Markets stabilize after Powell rules out rate hike, but the signs don’t look good
Markets are volatile right now; however, a relative calm has descended on the market and US. US stocks are down a touch, but the Vix is lower, US Treasury yields are lower, and the dollar is mostly lower vs. its G10 FX counterparts.
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