August 19, 2024
Jason Shapiro is best known for appearing in Jack D. Schwager’s book “Unknown Market Wizards.” In this blog, we cover the top 15 Jason Shapiro Quotes.
Jason found success in trading by adopting strategies that were the opposite of his natural tendencies during his early years as a trader. His professional journey in trading extends over three decades in which he managed portfolios for various investment firms and numerous phases as a personal Commodity Trading Advisor managing upward of $600 million.
Jason’s strategy relies on interpreting the Commitment of Traders (COT) to assess the positioning of different types of futures traders as a barometer for market sentiment. When readings are unbalanced in relation to the news, Jason looks for turning points in extreme market trends.
At its core, Jason looks to go long when bearish sentiment is widespread and short when there is overwhelming bullish euphoria. He then looks for a “news failure” and price confirmation as a reversal trigger to bet against the masses.
Jason Shapiro states: “The three most important things to succeed in trading are patience – the ability to wait for the right trade rather than feeling you have to treat all the time – discipline, and risk management.”
Contrarian trading requires emotional detachment from popular belief. Jason Shapiro’s consistently successful trading strategy demonstrates that when the market shifts against a heavily positioned side, it signals an impending reversal.
Unlock the Secrets of Contrarian Trading with Jason Shapiro 👇
15 Jason Shapiro Quotes
First of all, I need price action confirmation, and second, I have tight stops.
Jason Shapiro
Everyone understands that the market is a discounting mechanism. What they don’t realize is that the discounting mechanism is not price; it’s participation.
Jason Shapiro
Don’t have an opinion… When the tape is telling you something, don’t fight it; go with it.
Jason Shapiro
I try to find out what everyone is doing, and I do the opposite because when everyone is in the same trade, they lose money.
Jason Shapiro
I succeed because I have failed so many times, and I had an open mind about failure and was able to learn from it.
Jason Shapiro
It’s hard to see what a winner looks like, but it’s easy to see what a loser looks like.
Jason Shapiro
Should’ve been up, but its down, so short it; should’ve been down, but its up, so long it.
Jason Shapiro
If they are all super bearish, and the Dow goes down one thousand points and the close is in the low, I’m not going to be a buyer. But if they are all super bearish, and some really negative news came out that day, but the market closes higher, I’m buying.
Jason Shapiro
The great thing about the market is that I can wait until there is a confirmation before taking the opposite position.
Jason Shapiro
People get into such one-sided views that their logic disappears.
Jason Shapiro
The most important thing that people have to get over, is that they are going to predict where the market is going to go better than everybody else.
Jason Shapiro
I am my own risk management.
Jason Shapiro
No matter what it is, you should always wait for the market to confirm what you’re thinking before you do it.
Jason Shapiro
Happiness is believing that the future will be better than the past.
Jason Shapiro
Unlock the Secrets of Contrarian Trading with Jason Shapiro 👇
Find “Unknown Market Wizards” by Jack Schwager on Amazon
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