Tools of the Trade

EP.005 Jason Shapiro - Why Money Can’t Buy Freedom: A Journey from Monastery to Markets

In this episode, Jeff Boccaccio interviews Jason Shapiro, a well-known contrarian trader and an initially reluctant participant in Jack Schwager's 'Unknown Market Wizards.' Jason discusses his current trading strategies, the stresses of trading and the tolls it can take along with how he incorporates the Commitment of Traders (COT) report into his decision-making process. He also shares personal anecdotes about his life, including a transformative experience spending a month in a Buddhist monastery in Burma and how it shaped his views on freedom and wealth. The episode packs valuable lessons on trading psychology, maintaining discipline and how his last minute decision to be included in ‘Unknown Market Wizards’ has led to a fulfilling community of traders at the Crowded Market Report. Watch the Video Podcast on YouTube here: https://youtu.be/E0kSGSBKDl8?si=29xUFh-uEf5RNDAQ [https://youtu.be/E0kSGSBKDl8?si=29xUFh-uEf5RNDAQ] 00:00 [https://www.youtube.com/watch?v=E0kSGSBKDl8] Introduction and Personal Reflections on Wealth 01:01 [https://www.youtube.com/watch?v=E0kSGSBKDl8&t=61s] Current Market Focus and Trading Strategies 01:27 [https://www.youtube.com/watch?v=E0kSGSBKDl8&t=87s] Insights on Gold and Market Sentiment 02:14 [https://www.youtube.com/watch?v=E0kSGSBKDl8&t=134s] Contemplating Retirement and Life Choices 03:07 [https://www.youtube.com/watch?v=E0kSGSBKDl8&t=187s] Jason Shapiro's Background and Monastery Experience 08:41 [https://www.youtube.com/watch?v=E0kSGSBKDl8&t=521s] Lessons from the Monastery and Life Reflections 21:21 [https://www.youtube.com/watch?v=E0kSGSBKDl8&t=1281s] Trading Philosophy and Community Engagement 33:42 [https://www.youtube.com/watch?v=E0kSGSBKDl8&t=2022s] Reflections on Market Wizards and Legacy 38:33 [https://www.youtube.com/watch?v=E0kSGSBKDl8&t=2313s] Struggles and Discipline in Trading 40:27 [https://www.youtube.com/watch?v=E0kSGSBKDl8&t=2427s] Managing Investor Expectations 41:43 [https://www.youtube.com/watch?v=E0kSGSBKDl8&t=2503s] Running a Small Trading Shop 43:45 [https://www.youtube.com/watch?v=E0kSGSBKDl8&t=2625s] Starting a Hedge Fund or CTA 48:58 [https://www.youtube.com/watch?v=E0kSGSBKDl8&t=2938s] Systematic vs. Discretionary Trading 56:07 [https://www.youtube.com/watch?v=E0kSGSBKDl8&t=3367s] Position Sizing and Risk Management 01:02:54 [https://www.youtube.com/watch?v=E0kSGSBKDl8&t=3774s] Client Relationships and Correlation 01:05:50 [https://www.youtube.com/watch?v=E0kSGSBKDl8&t=3950s] Personal Investments and Retirement Accounts 01:09:12 [https://www.youtube.com/watch?v=E0kSGSBKDl8&t=4152s] Understanding the Trading System 01:10:46 [https://www.youtube.com/watch?v=E0kSGSBKDl8&t=4246s] Trade Execution and Position Sizing 01:11:31 [https://www.youtube.com/watch?v=E0kSGSBKDl8&t=4291s] Profit Exits and COT Reports 01:15:57 [https://www.youtube.com/watch?v=E0kSGSBKDl8&t=4557s] Risk Management and Learning from Mistakes 01:20:26 [https://www.youtube.com/watch?v=E0kSGSBKDl8&t=4826s] Trade Timing and Execution 01:27:24 [https://www.youtube.com/watch?v=E0kSGSBKDl8&t=5244s] Community Insights and Market Analysis 01:34:35 [https://www.youtube.com/watch?v=E0kSGSBKDl8&t=5675s] Final Thoughts and Resources   For more information about Jeff Boccaccio & Rfactory visit us at https://www.rfactory.io [https://www.youtube.com/redirect?event=video_description&redir_token=QUFFLUhqbUlSSENObTNRUkxxQm5ZdWpjaklGX2pVTUd3Z3xBQ3Jtc0tuTU1CSHkxRS1uN1FlZER1NmQzLXhWWENjaFowRHpTeEI2ajIyaUFjVEV2OEJGbDMwWFA5aEY4MURiWUwzdU1oaEJPUG5nOFNMLTdLMlVhZlJOVlNGT0VGRTRZcVdJNGpFeW45d1lUNFBkbkdNVHM5OA&q=https%3A%2F%2Fwww.rfactory.io%2F&v=E0kSGSBKDl8] For more information about Jason Shapiro &the Crowded Market Report visit https://www.crowdedmarketreport.com/ [https://www.youtube.com/redirect?event=video_description&redir_token=QUFFLUhqbm9Ob2E5Ql9JNVdPM3FQQWZuTW8zTWFzUlZCQXxBQ3Jtc0tudzNSd2xQeVZKRHNMbG1zUXhZS0J1R1pDRExrTFlJQ3dkZ1llZmUtNUFCbjF0b1BVLWMyOXZVaGdZajVRZk85RS0xdEdYTVNXYk05bjQ4N2FORGFNTExXVVEwV3pQT2xQc3NhLTFPMGtNbm1Fa0NLcw&q=https%3A%2F%2Fwww.crowdedmarketreport.com%2F&v=E0kSGSBKDl8]   DISCLAIMER AND LEGAL NOTICE: This content is for educational purposes only, and not intended for use as a source of investment or trading advice, nor as a recommendation or solicitation to buy or sell any asset. The creators of this content are researchers and educational presenters, not an accredited program or institution, nor are they professional advisors or brokers of any kind. Trading and investing involves significant risk of loss. You are responsible for your own results, and individual results vary. All content copyright protected.

EP.004 Tom Basso on Mindset with Sonal Darbar

In this special episode of the Tools of the Trade Podcast, guest host Sonal Darbar interviews trading legend Tom Basso. The episode delves deep into the timeless question: 'Which comes first, the mindset or the strategy?' Tom emphasizes the paramount importance of mindset in successful trading, sharing personal experiences and strategies that have shaped his serene approach over decades in the market. From awareness practices to the integration of AI, Tom covers it all. He also discusses how trading fits into a balanced and fulfilling life, highlighting the need for traders to have diverse interests and hobbies outside of trading. This episode offers both seasoned traders and newcomers valuable insights into maintaining emotional equilibrium and achieving long-term trading success. Watch the Video Podcast on YouTube here: https://youtu.be/VdN4_1R69tA [https://youtu.be/VdN4_1R69tA]   Topics: 00:00 Introduction 01:52 Welcome from Guest Host Sonal Darbar  03:20 Tom’s Motivation for a Mindset Specific Episode  08:33 Anthony Crudele  10:10 Chicken or Egg  12:05 Can You Engineer Self Out of System  18:01 $108k Mistake  19:04 AI: Who is the Captain of Ship? 20:04 Awareness, Book Report Story 23:06 Basketball in College  24:39 Public Speaking Course 25:18 Awareness & Trading  27:54 Post-It Note "Be Aware"  29:37 The Observer  30:54 Clip: Talents, Mental Weaknesses 35:41 Mr Spock Realisation: Does Emotion Outweigh Logic?  40:16 Commanding Self to Relax, Physical Cues: Stressed Hand Clench  42:48 Aware of Physical Cues, Let Go, Choose to Relax, Face Emotion Exercise  44:45 Angry to Happy in 60secs  45:32 Live Relaxed  47:03 Movie: Associated vs Disassociated  52:54 Discipline & Awareness  55:46 Wins: Feel Nothing, Losses: Feel Everything  59:56 ETR Comfort Ratio  01:02:06 Find Your Facination Outside of Trading  01:08:15 Obsession: Jiro Dreams of Sushi  01:13:34 One final question: Group Support in Trading     For more information about Sonal Darbar & Rfactory visit us at https://www.rfactory.io [https://www.rfactory.io] For more information about Tom Basso visit https://enjoytheride.world [https://enjoytheride.world]   DISCLAIMER AND LEGAL NOTICE: This content is for educational purposes only, and not intended for use as a source of investment or trading advice, nor as a recommendation or solicitation to buy or sell any asset. The creators of this content are researchers and educational presenters, not an accredited program or institution, nor are they professional advisors or brokers of any kind.  Trading and investing involves significant risk of loss.  You are responsible for your own results, and individual results vary. All content copyright protected.

EP.003 Perry Kaufman

In this episode, Perry Kaufman, renowned trend trader and trading systems architect, joins host Jeff Boccaccio in London to discuss trading systems and portfolio management, starting a hedge fund today, the capital required, and the systematic approaches he would use. They delve into Kaufman's trading history, risk management strategies, portfolio diversification, and his methodologies for ranking and selecting stocks. The conversation also covers the impact of market events like the 1987 crash and 2008 financial crisis on trading strategies. Additionally, Kaufman shares insights on intraday trading opportunities and the psychological aspects of trading. Watch the Video Podcast on YouTube here: https://youtu.be/jmR359jHYBQ [https://youtu.be/jmR359jHYBQ]   For more information about Jeff Boccaccio & Rfactory visit us at https://www.rfactory.io [https://www.rfactory.io] For more information about Perry Kaufman visit https://kaufmansignals.com [https://kaufmansignals.com]   00:00 Introduction 01:24 Support the Show 01:40 Introducing Perry Kaufman 02:27 Perry Kaufman's Background 03:39 Early Trading Experiences 05:04 Trend Following and Market Changes 07:17 Trading in the 1980s 08:55 Risk Management and Market Volatility 12:20 Transworld Oil and the 1987 Crash 19:48 Risk Management and Trading Psychology 24:36 Modern Trading Strategies and Volatility 39:48 Understanding Volatility and Volume in Trading 40:40 Divergence and Its Role in Trading Systems 43:17 Diversification Strategies for Portfolios 45:15 Evaluating and Ranking Trading Systems 59:57 Manual vs. Automated Trading 01:06:00 Challenges in Starting a Hedge Fund 01:16:17 Intraday Trading Strategies 01:20:21 Conclusion and Final Thoughts   DISCLAIMER AND LEGAL NOTICE: This content is for educational purposes only, and not intended for use as a source of investment or trading advice, nor as a recommendation or solicitation to buy or sell any asset. The creators of this content are researchers and educational presenters, not an accredited program or institution, nor are they professional advisors or brokers of any kind.  Trading and investing involves significant risk of loss.  You are responsible for your own results, and individual results vary. All content copyright protected.

EP.001 Tom Basso Round 2

In this inaugural episode, Tom Basso, the Market Wizard given the nickname Mr. Serentiy by Jack Schwager, shares valuable insights on trading strategies, mindset, and performance. Hosted by Jeff Boccaccio, Tom discusses the importance of personal trading strategies, the use of long-term and short-term systems, portfolio diversification, and position sizing. He also delves into his daily routines and lifestyle choices that support his trading success. The episode concludes with a live system design session, emphasizing the importance of understanding one’s unique trading needs and preferences. Tom also offers to join Rfactory’s upcoming one-day Intro to System Development Workshop to further illustrate these concepts and get up to speed on the TradingView platform himself. Watch the Video Podcast on YouTube here: https://youtu.be/t1fjw93tiik [https://youtu.be/t1fjw93tiik]   For more information about Jeff Boccaccio & Rfactory visit us at https://www.rfactory.io [https://www.rfactory.io/] For more information about Tom Basso visit https://enjoytheride.world/ [https://enjoytheride.world/]   Note that despite being Episode 1 this is actually a “Round 2” conversation as Jeff recently hosted a fireside chat with Tom on behalf of the Society of Technical Analysts (STA).  You can watch the “Round 1” conversation here: https://youtu.be/VJZvv4OT58c [https://youtu.be/VJZvv4OT58c]   00:00 Introduction to Personal Trading Philosophy 03:22 Welcome to the Tools of the Trader Podcast 03:37 Meet Your Host: Jeff Boccaccio 05:39 Introducing Tom Basso: The Market Wizard 09:42 Tom Basso's Trading Strategies 15:52 Managing Risk and Position Sizing 33:32 The Importance of Trading Psychology 52:06 Understanding Commissions and Break-Even Trades 52:37 Balancing Short-Term and Long-Term Strategies 53:00 Strategy Allocation and Risk Management 55:31 Labeling Trades and Managing Multiple Accounts 57:28 Calculating System Performance and the ETR Comfort Ratio 01:16:26 Designing a Mean Reversion Strategy 01:27:36 Simulating and Balancing Portfolios 01:40:10 Combining Equity Curves for Multiple Strategies 01:41:02 Evaluating Strategy Performance 01:41:42 Manual vs Automated Trading 01:42:29 Challenges of Managing Multiple Strategies 01:43:05 Developing a Trading Platform 01:46:00 System Development Workshop 01:48:30 Trading Tools and Historical Evolution 01:55:14 Lifestyle and Trading Routine 02:02:31 Parallels Between Golf and Trading 02:06:14 Final Thoughts and Future Plans DISCLAIMER AND LEGAL NOTICE: This content is for educational purposes only, and not intended for use as a source of investment or trading advice, nor as a recommendation or solicitation to buy or sell any asset. The creators of this content are researchers and educational presenters, not an accredited program or institution, nor are they professional advisors or brokers of any kind.  Trading and investing involves significant risk of loss.  You are responsible for your own results, and individual results vary. All content copyright protected.