John Walsh, otherwise known as The Black Cabbie Trader is our guest this week.
John’s backstory in trading started in 2012 when he entered the City Index Trading Academy competition in which a group of people with little to no market experience did their best to perform over a span of five weeks. John ended up winning and went home with £100,000 in prize money.
Ever since, John has continued to trade and has turned into quite the trend/position trader by prioritizing simplicity and focusing on U.S. equities. He also drives a black cab in London, which we also discuss in this interview.
Other topics of conversation include John’s trading process, the competition, why you must, as John puts it, ‘stay out of your own way’, and tons more.
What’s Covered in This Interview:
- How John got past hundreds of competitors to participate in the City Index competition and what they taught him in that first week.
- John remembers his experience and mindset during the five weeks of the competition and how he used his prize money after winning first place.
- After taking home first place, John made the switch from day trader to trend/position trader. John discusses why he made the change and how the transition worked.
- John’s scanning procedure and types of technicals or fundamentals signal him to enter a position.
- How John diversifies between sectors, balances long/short trades, hedges against general market conditions, and thinks about maximum open positions.
Links and Resources:
- Chat With Traders Facebook group – Join the free Chat with Traders Facebook group to connect with other traders and podcast listeners!
- The Comprehensive Guide to Trading Mentorship – My free eBook answering all of your questions and explaining how to get a mentor.
- EP 067: Jerry Parker – John references the Turtle Traders in the interview and Jerry Parker is one of the originals.
- Finviz.com – Each day John uses this free online tool to scan U.S. equities for potential trade setups.
- FreeStockCharts.com – John also takes advantage of this free site for charting and technical analysis.
- BlackCabbieTrader.com – Learn more about John and his trading techniques at his website.
- @JohnWalsh – Follow John on Twitter and on StockTwits here.
Click here to get your free copy of The Comprehensive Guide to Trading Mentorship.
