My guest this week is John Walsh, aka The Black Cabbie Trader.
The backstory of John; in 2012 he entered a competition—the City Index Trading Academy. The idea was to take a group of people with very little market experience to see how well they would perform as active traders, over the span of 5 weeks. John came out on top and won the £100,000 prize money which was up for grabs.
He’s of course continued trading ever since, and has developed into quite the trend/position trader—focused on US equities, making simplicity an absolute top priority. He’s also a black cab driver in London, which you’ll hear more about shortly.
In this episode we chat about; the competition, John’s trading methodology, why you must ‘stay out of your own way’ (as John puts it), and plenty more.
Please take two minutes to support this podcast by leaving an iTunes review.
Lessons learnt in this interview:
- How John made it past hundreds of entries to participate in the City Index trading competition, and how he learnt the ropes in a trial-by-fire type of way.
- John talks about his experience and mindset during the 5 weeks of competing, and what he did with the prize money after taking out first place.
- Post-competition; John discusses why he made the change from being a day trader to becoming a trend/position trader, and how the transition took place.
- John walks us through his scanning procedure and what type of technicals or fundamentals would prompt him to enter a position.
- How John hedges against general market conditions, diversifies between sectors, thinks about maximum open positions, and balances long/short trades.
Links and resources mentioned:
- EP 067: Jerry Parker – Hear an interview with Jerry Parker who is one of the original Turtle Traders, which John referenced during the interview.
- Finviz.com – A free online tool that John uses to scan US equities each day for potential trade setups.
- FreeStockCharts.com – Another free site that John uses, this one, for charting and technical analysis.
- BlackCabbieTrader.com – To learn more about John and his trading methodology you can visit his website.
- @_JohnWalsh_ – You can follow John on Twitter, and on StockTwits here.
Did you enjoy this interview?
- Please leave a 5 star review on iTunes to support the show.
- Subscribe to receive free guides and an email when new interviews go live.
- Leave a comment below, what was your greatest takeaway from this interview?
- Share this interview with your friends and followers.