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Black Cabbie trainee wins City Index Trading Academy and £100,000

4 December 2012  •  Source: City Index

John Walsh, a client services executive who is currently studying to become a Black Taxi Cab driver, has beaten seven other competitors to win City Index’s Trading Academy.

The Trading Academy was launched by City Index, the retail trading services leader, in October 2012 and is an innovative new web series and competition, which has demonstrated that, with the right education and technical support from City Index, aspiring traders can be taught how to trade the financial markets

The competition took place over six weeks, as eight contestants with little or no trading experience battled it out to win a cash prize of £100,000. Competitors were judged on their notional profits and losses, as well as their development as traders, with a judging panel eliminating one trader each week until today’s final.

The judging panel over the last six weeks consisted of two mentors from City Index: Ashraf Laidi, Global Chief Strategist, and James Chen, Chief Technical Analyst, and they were joined for the final by the company’s chief executive, Martin Belsham. The event took place at City Hall in the City of London, with John Walsh and two other contestants – Recruitment Consultant, Shazad Asher, and Freelance Journalist, Ryan Oliver-Thompson – battling it out for the £100,000 prize, with runners up each being rewarded £5,000 in a new City Index trading account.

Martin Belsham, Chief Executive Officer at City Index, said: “The Trading Academy shows that no matter what your background, with the right tools and support, anyone can learn to trade the markets. It was hugely encouraging to see John and the other competitors demonstrating big improvements in their trading over a matter of days and weeks, and developing the skills that will allow them to keep going beyond their Trading Academy experience. We hope after watching the show, people from a host of backgrounds will be inspired to give it a go themselves.”

The winner, John Walsh, delivered a strong ROI of 23.6 percent for the final week and impressed the judges by demonstrating the ability to trade out of his losing positions and maintaining a high level of consistency throughout the competition.

Ashraf Laidi, Chief Global Strategist at City Index and Trading Academy mentor, said: “The message at the heart of Trading Academy is that if you are disciplined and committed to embracing the educational element, you can have a successful trading experience and it was very pleasing to see all of the competitors making such significant strides in a short period of time. John won not only because he had the best ROI, but his willingness to continue learning and then applying this to his trading throughout was what impressed the judges the most.”

John Walsh, the winner of Trading Academy, said: “It’s been a great experience and I’m definitely going to be the Black Cabbie trader from now on! I never thought that over such a short period, I could learn so much about trading. The financial markets can seem so daunting, but the right support, anyone can develop the skills and confidence to trade.”