Market Wizard: Trading 9 Figures Going AGAINST The Trend
Words of Rizdom
Balancing Risk in Trading
This chapter examines the intricacies of risk management strategies in trading, contrasting fixed and dynamic approaches. It discusses the significance of consistency and emotional detachment, along with the interplay between intuition and systematic trading in shaping trader performance.
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On this episode of the Words of Rizdom podcast we are joined by Jason Shapiro. Jason is a trading veteran with decades of experience and manages over $200 Million in capital making him the largest single man money management firm in the world. Jason featured in Jack Schwager's New Market Wizards and is regarded as one of the most respected traders of our time. His controversial takes on retail traders, verified track records & scaling capital make this podcast one of the best interviews ever released on the WOR channel. I hope you guys enjoy this episode!
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Connect with our guest:
https://www.crowdedmarketreport.com
https://www.crowdedmarketreport.com
https://www.youtube.com/@crowdedmarketreport
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Timestamps:
00:00:00 Introduction to Jason Shapiro: Managing $200 Million
00:05:40 Navigating Politics in Hedge Funds
00:11:18 Lessons from Trading in a Bull Market
00:16:55 The Importance of Trader Journaling
00:21:58 Overcoming Challenges in Trading
00:27:19 Overcoming Trading Setbacks
00:32:55 The True Value of Money and Happiness
00:38:41 The Pitfalls of High Expenses in Trading
00:43:33 The Impact of "Market Wizards" on Careers
00:48:43 Learning from Trading Mistakes
00:54:00 Mentorship in Trading: A Path to Legacy
01:00:00 Avoiding Scams in the Investment World
01:05:00 Trading Mistakes and Risk Management Strategies
01:10:19 Understanding Market Trends and Turnarounds
01:15:12 Trend Following vs. Unique Trading Strategies
01:20:21 The Value of Higher Education in Job Markets
01:25:23 The Trap of Addiction: Heroin and Alcohol
01:31:00 The Importance of a Disciplined Routine in Trading
01:37:46 Personal Reflection on Leadership and Career Choices
01:41:59 The Psychology of Treating Trading Like a Game
01:47:01 Strategy in American Football: Defensive End Role
01:52:18 Embracing Mistakes and Self-Forgiveness
01:58:59 Managing Human Error in Trading
02:02:56 Insights on Trading Strategies and Market Impact
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Disclaimer:
The content on Words of Rizdom is for informational and educational purposes only. We are not personally affiliated with any of the guests featured in our episodes. Our role is solely to interview them and share their insights, experiences, and expertise. The views expressed by our guests are their own and do not necessarily reflect the opinions or endorsements of Words of Rizdom. Always carry out your own research and seek professional advice before making decisions based on the content shared.
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