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Economic Rockstar

Connecting Brilliant Minds in Economics and Finance

002: Jason Stapleton on Trader Psychology and Why You Shouldn’t Listen to Financial News

November 11, 2014 by Frank

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Episode 002: Jason Stapleton on Trader Psychology and Why You Shouldn’t Listen to Financial News

In this second part of the Economic Rockstar interview with Jason Stapleton, Jason shares with us some thoughts on trader psychology:Jason Stapleton

  • his thoughts on Richard Dennis’ Turtle Trader Program
  • why you shouldn’t trade and instead give your money to somebody else to manage.
  • noise that exists in the financial markets and what to do about it.
  • why you shouldn’t listen to financial news and what you can do instead to gain a competitive edge.
  • herding behaviors and trader psychology in markets.
  • why the markets are not fundamentally driven and what drives the markets instead.
  • why he believes that there is an inherent beauty in price patterns.
  • his thoughts on Fibonacci trading.
  • how being in the Marine Corp provided the discipline required to survive in the markets.
  • Some recommended books, such as Market Wizards by Jack Schwager.

You can check out and listen to the first part of this great interview with Jason Stapleton here.

About Jason Stapleton

Jason Stapleton is one of the founders of Trade Empowered and a managing partner of Harborsite Capital.  Jason’s heavy focus  on trader psychology, along with his in-depth knowledge of advanced technical analysis, gives him the unique opportunity to work with traders of all skills and levels, helping them to achieve a higher level of success and understanding in the foreign exchange market.

Recommended Books:

  • Trade What You See: How To Profit From Pattern Recognition by Larry Pesavento
  • Harmonic Trading, Volume One: Profiting from the Natural Order of the Financial Markets by Scott M. Carney
  • Harmonic Trading, Volume Two: Advanced Strategies for Profiting from the Natural Order of the Financial Markets by Scott M. Carney
  • Technical Analysis of the Financial Markets: A Comprehensive Guide to Trading Methods and Applications by John J. Murphy
  • Market Wizards by Jack Schwager
  • One Good Trade by Mike Bellafiore

Favorite Internet Resource:

  • Trading View

Where to Find Jason Stapleton:

  • Trade Empowered
  • Jason Stapleton on YouTube
  • The Live Show
  • Learn the Secret to Trading Fibonacci
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001: Jason Stapleton on Technical Trading Systems and Losing Everything on Penny Stocks

November 11, 2014 by Frank

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Episode 001: Jason Stapleton on Technical Trading Systems and Losing Everything on Penny Stocks

Jason StapletonJason Stapleton is one of the founders of Trade Empowered and a managing partner of Harborsite Capital.  Jason’s heavy focus  on trader psychology, along with his in-depth knowledge of advanced technical analysis, gives him the unique opportunity to work with traders of all skills and levels, helping them to achieve a higher level of success and understanding in the foreign exchange market.

Economics and Finance Themes:

In parts 1 and 2 of the Economic Rockstar interview with Jason Stapleton, Jason mentions and discusses: technical analysis, trading strategies, stock market psychology, behavioral economics, herding behavior, Gartley patterns, harmonic price patterns, Fibonacci numbers, fundamental analysis, probability, the Turtle Trader story, rational and irrational behavior.

Jason’s Influencers:

His business partner Todd Browne, options trader John Carter, systems trader Larry Hite and trader Mike Bellafiore.

Find out:

In this first part of the Economic Rockstar interview with Jason Stapleton, Jason shares with us some thoughts on technical analysis:

  • how Jason lost all his money when he first started out trading in penny stocks.
  • the number one reason why people become traders.
  • how to create a competitive edge in the financial markets.
  • about systems trading and the Gartley pattern.
  • how working on probabilities is better than certainties in trading.
  • the importance of stop-losses.
  • the importance of backtesting.
  • how price patterns can reflect human behavior and and how you can trade based on the expectations of other traders’ decisions.

You can check out and listen to the second part of this interview here.

Advice:

  • Jason advises that the key to successful trading is to develop a trading strategy and emphasises the benefits of backtesting – “the real benefit of backtesting is the psychological aspect.”  Find out more on the benefits of backtesting in this interview.
  • On stop-losses: “Know where you’re getting out before you get in.”

‘Shut off the noise, avoid financial news TV and stay out of trading forums.’ – Jason Stapleton

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  • “Most people in life settle for some level of mediocrity between total failure and their true potential. They just settle in life. I would just simply say don’t settle. I don’t care what it is you do, don’t settle. Be exceptional at what you do.”

Personal Habits:

A background in the Marine Corp instilled a discipline that Jason could use to his advantage in trading financial markets.  Jason admits that he was average among his group at the Marine Corp but he was willing to work longer, harder and faster than anybody else to be successful. Jason carried this attitude with him to learn how to trade the markets, experiencing losses and gains along the way and eventually building his multi-million dollar business, Trade Empowered, from a $900 initial investment.

Takeaway:

Don’t settle for mediocrity. People will drag you down. Be exceptional at what you do.

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Recommended Books:

  • Trade What You See: How To Profit From Pattern Recognition by Larry Pesavento
  • Harmonic Trading, Volume One: Profiting from the Natural Order of the Financial Markets by Scott M. Carney
  • Harmonic Trading, Volume Two: Advanced Strategies for Profiting from the Natural Order of the Financial Markets by Scott M. Carney
  • Technical Analysis of the Financial Markets: A Comprehensive Guide to Trading Methods and Applications by John J. Murphy
  • Market Wizards by Jack Schwager
  • One Good Trade by Mike Bellafiore

Favorite Internet Resource:

  • Trading View

Where to Find Jason Stapleton:

  • Trade Empowered
  • Jason Stapleton on YouTube
  • The Live Show
  • Learn the Secret to Trading Fibonacci
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000: About Economic Rockstar

November 10, 2014 by Frank

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Episode 000: About the Economic Rockstar Podcast

Economic RockstarEconomic Rockstar is created for you, the economist, financial analyst, teacher or student. If you are looking to expand your knowledge or awareness, Frank Conway delivers the information you just don’t want to miss. Economic Rockstar brings to you each week an economist, financial analyst or business leader who shares their experiences, research interests or ideas. Hear their views on different schools of economic thinking – Chicago, Austrian, Keynesian and Classical, behavioral economics, stock markets, and how economics and finance can be used in our lives. Economic Rockstar interviews top-level lecturers and academics from highly renowned universities, best-selling authors and bloggers, inspirational CEOs and business leaders, as well as amazing and thought-provoking people who have recently discovered economics and  finance and are carving out a career in their new-found passion. Guests in each episode gives us wonderful advice, takeaways and insights that will help you become part of the Economic Rockstar community that will be ‘Connecting Brilliant Minds in Economics and Finance’.

Why an Economics Podcast?

My name is Frank Conway and I’ve noticed a huge transitional shift in the way education is being delivered, supported by the technological advancements being made. These advancement are breaking down the barriers that once prevented many people from accessing a basic right – technology has removed geographic, demographic, cultural and wealth-related barriers, allowing a surge in the acquisition of of knowledge and education. This can be witnessed by the many excellent online educational resources such as Massive Open Online Courses or MOOCs.

The way we are sourcing this information is rapidly changing too and there is a desire for many of us to listen or watch on-the-go:

  • online video-sharing tools
  • audiobooks
  • podcasts

These mediums are experiencing a phenomenal increase in usage. So, the demand is there and, just like a true economist, this demand must be met with supply! I want to supply this information to you to embrace the changes in the habits and preferences for people like you who are hungry for knowledge and information on multiple platforms.

Mission Statement of Economic Rockstar

‘Economic Rockstar is built on the foundation that education, including self-education, is key to unlocking your minds potential’

My passion is to help you along this journey of knowledge obtainment and learning and, again, I quote Mark Twain to emphasise my mission statement:

“Anyone who stops learning is old, whether twenty or eighty. Anyone who keeps learning stays young. The greatest thing you can do is keep your mind young”
Mark Twain

Who Will Feature on the Economic Rockstar Podcast?

  • Economists
  • Teachers, Lecturers and Academics
  • Financial Analysts
  • Inspirational Business Leaders and CEOs
  • Authors
  • Bloggers

About the Economic Rockstar Logo

After a few iterations, I finally settled on a great logo with a fellow podcaster stating “I’ve instantly developed a picture about what this podcast is going to be about!”.

  • ‘Economic Rockstar’ represents the fantastic guest that will feature on each episode who are doing wonderful and amazing things in the field of economics. Economics is a social science and can be found in all aspects of our lives. The concepts, principles and practice of economics can be found in financial markets, business and our livelihoods.
  • The singular, rather than the plural, in ‘Rockstar’ is for the aesthetics, as well as it reflecting the 1 person I’ll be interviewing on each episode. Both words, ‘Economic’ and ‘Rockstar’ have 8 letters in each, allowing it to fit neatly within the circle. Also, ‘Rockstar’ begins and ends in the same letter.
  • The circle is symbolic in terms of the constant and the forever inter-connectivity of which it represents. In the case of Economic Rockstar, it represents the connections our guests have with one another and with you, with each one of us being connected by economics.
  • The red graphical line has a double entendre.  It represents the amazing information being shared by our guests, which is passing from one part of your headphones to the other . It also pays homage to the stock market, reflecting a similar pattern to the S&P500 since 1998. 

About the Economic Rockstar Tagline

Economic Rockstar – ‘Connecting Brilliant Minds in Economics and Finance’

Click To Tweet

The Economic Rockstar tagline embraces the common connectivity that we all share in our love and interest in all things economics. It is built upon the mission statement outlined above, which embraces the ideas and thoughts of Mark Twain, Seth Godin and Peter Drucker.

We have entered the initial phase of a great Connection Economy, which “builds on who you know, what you know and how that knowledge influences your connections”
Seth Godin

“The basic economic resource – the means of production – is no longer capital, nor natural resources, nor labor. It is and will be knowledge”
Peter Drucker

Economic Rockstar Blog

The blog posts found on this site embrace some of the themes discussed or mentioned by our guest in each podcast. Some posts will also reflect and summarise the webinars that I hold quite regularly. If you are interested in finding out more about my webinars, please contact me below in the comments section, like my Facebook page or sign up through the pop-up box that appears on this site (f you haven’t done so already).

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Frank Conway

Frank Conway is founder of Economic Rockstar and lecturer of economics, finance and statistics. Read More…

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