In this episode, we’re joined by John White, co-founder of Positive Equity, to unpack what it truly takes to succeed in the high-stakes world of prop trading. Whether you're a beginner exploring how to get into trading or an experienced retail trader looking to take your skills to the next level, this episode is packed with invaluable insights from someone who's been through every stage of the trading journey.

John shares his incredible story of getting his start at Geneva Trading in Dublin straight out of college, with no prior trading experience. What drew him in was the promise of a career where your income matches your effort. Over time, John discovered that success in trading doesn’t happen overnight. In fact, it takes years of dedication, learning, and adaptation. He explains that it took him at least two years before he felt confident in the markets and even longer before he saw meaningful financial rewards. This is a crucial reminder that prop trading is not a get-rich-quick scheme—it's a profession that demands grit, patience, and constant improvement.

One of the most fascinating parts of our conversation is John's breakdown of the trading edge—how traders develop a strategy that works and why that edge can disappear as market conditions change or more people discover the same opportunity. With market volatility, evolving macro trends, and ever-smarter competition, maintaining a profitable strategy requires constant evolution. As John puts it, the market is always moving, and so must you.

We also dive into what separates a successful prop trader from someone who eventually drops out. The key traits Positive Equity looks for are strong numeracy skills, competitiveness, and, above all, grit. Trading is full of setbacks. It's easy to enter the markets thinking it's as simple as buying and selling on your phone, but real success requires years of learning, managing your risk, and staying in the game long enough to learn the necessary lessons. As John explains, no one joins the trading floor as an instant success story, and no one wins without putting in the work.

For those wondering about the difference between prop trading vs retail trading, John provides some powerful insights. While retail traders often juggle trading with full-time jobs and limited screen time, prop traders have the advantage of being immersed in the markets all day, working within teams, and using advanced tools and risk management systems. This environment provides professional traders with better cost structures, higher-quality research, and the ability to patiently wait for high-probability setups. Retail traders often feel pressure to act within the small windows of time they have, which can lead to suboptimal decision-making.

John also shares valuable advice for aspiring traders looking to break into proprietary trading. His top tips? Start reading. Books like Market Wizards and Alpha Trader provide raw, honest insights into the real lives of professional traders, including their biggest mistakes and how they overcame them. He also recommends getting hands-on experience with simulator trading, taking it seriously, and building strong accountability, whether through a mentor, a peer, or even tracking your stats daily. Before risking real money, it's vital to spend the time mastering your process, understanding risk management, and learning how to handle losses.

And for those looking for that “hot stock tip”? John keeps it real—Positive Equity's traders aren't focused on long-term stock picks. They specialize in trading short-term volatility, whether it's around elections, major news events, or key market-moving reports. If you're looking to invest for the long haul, John echoes Warren Buffett's advice: stick to diversified index funds like the S&P 500 ETF or Eurostoxx ETF and play the long game.

This episode is a must-listen for anyone serious about understanding what it takes to transition from retail trading to professional prop trading and how to build a sustainable, profitable trading career in today’s markets.

In this engaging podcast episode, seasoned trader Mark Gough recounts his early Bitcoin breakthrough, buying Bitcoin for less than $50 and explores how that pivotal move paved the way for a deep dive into both cryptocurrency and stock market trading.

Mark discusses the speculative nature of the crypto market, highlighting its extreme volatility and the power of technical analysis in navigating rapid market shifts, comparing crypto trading to “the stock market on steroids.” He explains the risks associated with meme coins and the pitfalls of chasing quick wins, while emphasizing the importance of reading charts and leveraging historical data for informed decision-making.

The conversation then shifts to broader market trends, where Mark examines opportunities in US stocks and Chinese investments, particularly in sectors like EVs and technology. He also touches on how global regulatory changes, trade tariffs, and shifts in the energy market are influencing investor behaviour. With a forward-looking perspective, the discussion delves into emerging technologies such as AI, blockchain, and quantum computing—highlighting their potential to revolutionize trading strategies and reshape the financial landscape.

We are back for the new season of two blokes trading. In this podcast we discuss the impact of Trump's presidency on the financial markets, highlighting his pro-business stance and the influence of tech leaders like Musk, Zuckerberg, and Bezos.

The conversation also covers the potential market effects of US-China tensions and the rise of crypto, including the Trump coin.

Aiden O'Donnell, a financial analyst, shares his insights on technical analysis, the importance of both fundamental and technical analysis, and the current market trends.

Aidan notes the strong performance of tech stocks, the potential of Meta's glasses, and the resilience of Chinese assets despite political pressures. The discussion also touches on gold's all-time high and broader commodity trends.

This is the last podcast of the year & the Blokes discuss how 2023 has been a great year for traders.

2024 has a lot to live up too after a really strong year, seeing so many opportunities throughout the markets.

Tech Stocks have seen some great gains with the biggest winner in the S&P being Nvidia, seeing a 230% gain. This is a result of the current AI boom! Jonathan believes AMD could be one to watch in 2024, with the release of its newest chip.

Across currencies we saw some good volatility & directional moves. We also had some big moves in Oil & Gold with the former hitting all time highs, briefly!

As we close in on the end of 2023 the volatility is slowly winding down & the blokes suggest everyone to take a break & come back in 2024 refreshed!

We would like to thank all of our loyal listeners & wish you all a very happy holiday.

In this podcast Jonathan & Adam scan the markets, with the current theme being the trend is your friend!

This morning the markets were thin after thanksgiving on Friday, but we did see a slight pickup as the day went on. Markets are currently directional which is great for traders, the DXY remains bearish & stocks are soaring with market sentiment firmly risk on, as we approach the Christmas period.

Jonathan discusses how over the early years of his trading journey he let his bias dictate his decision making, regardless of the trend & even went through a period of counter trend trading. In recent years he has found his success rate increase when he aligns his bias with the trend. This lessens the amount of trading opportunities but has substantially increased the success rate of his trades.

Adam goes on to discuss how he feels there maybe a short term market shift about to happen as he believes the markets are currently overextended & we may see some cooling off, this might be the time to reassess the shorter term direction. However Adam feels that 2024 will be a strong year with Tech & AI growing rapidly. Adam also believes that global economies will recover next year & we may see a strong pick up, however Jonathan disagrees & feels it will take more time to fully recover.

The blokes go on to discuss the impact rising interest rates have had on the markets, plus how the world is adapting to a new way of life in this faced paced environment. 

The blokes move on to scan the markets looking at US Indices which are currently flying, with most of the blue chip companies taking advantage of the Santa rally. Jonathan goes on to give his opinion on Oil & Gold with the latter reaching 6 month highs. The blokes then look at some USD pairs with most markets taking advantage of Dollar weakness.

To conclude the episode, Adam shares his hot tips on the market, which are Disney & ASML, whereas Jonathan feels Nvidia has further to go due to It’s domination of the AI chip market, which is expected to grow by 38% annually for the next decade, almost ensuring continued upside for Nvidia.

You can join the blokes in our community & receive access to our education, market breakdowns, trade ideas, live webinars & much more.

Jonathan and Rory talk though the importance the economic calendar for all traders. A lot of traders believe that certain data doesn’t move the markets enough and that they should ignore it. But using this information to your advantage can give you a trading edge.

The economic Calendar provides real-time updates on economic news and trends, allowing individuals to make more informed investment decisions.

This information gives you a macro outlook, allowing you to a receive an insight into key data such as GDP, Inflation, Unemployment, international relations & political changes.

During the episode, Rory & Jonathan share how they use the data not just for volatility trading but to confirm or deny pre-existing biases we may have. For example, if you think the economy is struggling and the PMI report is growing each time, the market might not move but maybe you should change your bias? It’s about using the data in your favour to add further confirmations which will in turn help your consistency.

The Blokes then discuss the PCE index, which is released next week, what it means and the importance of it to traders. Rory mentions how the PCE is the Fed’s preferred method to gauge inflation along with describing exactly how it’s calculated.

If you really want to improve your trading, then you need to use all the resources at your disposal to build a bias whether that bullish or bearish.

Listen now to find out more!

One of the main talking points over the weekend was the production cuts from OPEC. It’s looking possible that over 1 million barrels per day could be cut from supply as fear enters the market that demand could be drying up.

We have already seen on Monday that price is up nearly 3% towards $78 and speculation is that it will continue towards 80.

DXY continues the move lower today as more negativity creeps in. There seems to be a strong risk on appetite in markets and with implied interest rates moving lower, strength in USD is fading as a break of 103 looks likely.

Other FX crosses seem to be taking advantage of this with USDJPY moving towards 148, USDCAD holding on the trend line and USDNOK moving lower from the higher oil prices (NOK benefiting)

Gold continues to move sideways unable to take advantage of a weaker dollar. Jonathan still holds his thoughts of selling gold at 2000 and narrowly missed a great shirt at price rallied above 1990.

Indices within the UK remain subdued as weaker oil prices impact the FTSE100 constituents. US indices continue moving higher with the NASDAQ pushing higher towards 16,000.

With the macro picture still not looking all positive but a soft landing looking more likely, how will you be positioned going into the remainder of 2023?

In this podcast , Jonathan and Rory discuss how to trade news headlines. The key is to understand the impact & domino effect these headlines can have on companies & markets. 

Immersing yourself within the financial markets is key to construct your trade and investment ideas. The example Rory covers, is around Maersk letting go 10,000 workers. We ask, if they are seeing less demand what does this mean for other stocks in the sector? What does this mean for the market, the economy and global trade?

We also talk about inflation and deflation problems in China and Japan. How the weak JPY is causing high inflation and how the strong CNY is causing deflation due to imports becoming cheaper. This also means exports are dropping which isn’t helping things as China received another huge stimulus pump earlier this week.

Jonathan also talks us through the many opportunities that have been in markets this year as we draw to a close. With so many moves in dollar, Jonathan talks us through how he was long dollar from July based off his bias that the fed were not going to cut interest rates earlier this year. Both Jonathan and Rory explain that the cuts in monetary policy there were due around this time, were pushed back so far that it was taken hawkish by traders hence the strong run higher in US Dollar/DXY.

Understanding how macroeconomics shape markets is essential to understanding trading and the Two Blokes Trading app is the best place to start.

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In this weeks episode, Jonathan & Adam scan the markets & explain why you should hold fire amid uncertainty.

Monday has been a quite day & the blokes explain the importance of waiting for the right time to execute with Dollar currently consolidating.

Later in the week we have some high impact data coming out with US CPI & PPI & we should see a spike in volatility. This should offer some further insight into the longer term direction of markets.

Jonathan discusses his perspective on the markets, particularly USD/JPY of which he shared a trade in the APP earlier in the day which played out nicely, seeing a short spike in volatility.

A weak JPY has become a political issue for the government amid rising cost-of-living pressures. Unless BOJ intervene we could see a bullish move to the upside, but the blokes both agree it's likely that they will! 

Adam then offers his technical viewpoint on the markets across FX pairs & Gold with his current bias being further Dollar weakness, but there remains uncertainty in the markets & we should have a clearer picture later in the week.

Adam then offers his opinion across Tech stocks & remains bullish on semi conductors firms such as AMD & Nvidia with his pick being ASML Holdings.

The blokes share their market analysis & trade ideas on the Two Blokes Trading APP everyday, so don’t miss out!

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In this episode the Blokes discuss the pros & cons of limit orders.  Jonathan and Rory both discuss how & when they use limit orders in different situations.

Both Jonathan and Rory highlight that the advantages usually heavily outweigh the disadvantages. It allows you to target a specific target price & have that order waiting to execute even while away from the computer, meaning you will never miss an entry. Most part-time retail traders can’t sit in front of a screen 24/7, so by placing limit orders it allows traders to semi automate the process.  

Rory explains that the only slight disadvantage is in highly volatile markets where the trade can be executed and hit a stop loss in a matter of seconds however, chances of that are very slim out of the covid cycle.

Jonathan explains using limit orders correctly can allow you to find optimal entry levels rather than executing a trade at the wrong time. Also limit orders can be highly beneficial when price is trading within a range. For example, If an asset has a strong range and is continuously finding support and resistance at the same levels, orders can help remove any doubts.

Similarly both Jonathan and Rory agree that on larger one off trades, limit orders are useful for not missing a big move in the market. For example; recently when Gold hit 1800, before it was there, a lot of people would have thought it was a great level to buy. However, when price reached 1800, people were afraid to buy, having this order in place would have removed any psychological doubts & this will help you trade more objectively.

There is no doubt that if used correctly limit orders can improve your success rate & limit your screen time!

Make sure to join the app today where Adam, Jonathan and Rory give their daily rundowns of markets and analysis and join over 1500 people in one of the fastest trading communities.

Check out the FREE Two Blokes Trading Community for education, analysis & much more!

Is the Santa rally on its way or is this just an overreaction to some bad news that investors think is good news?

For a long time now, the narrative of “bad data = good news” has allowed equity markets to rally. However, Rory shares in the app and talks about it on todays podcast that over 75% of major data last week was negative. yet the market takes it as a positive.

While that may mean the Fed are not going to hike as much if at all, it does mean there is a deterioration within the economy and it’s why Rory says he is exercising caution within the equity space right now.

Jonathan discusses the increase in volatility throughout the markets, most notably the fall of the Dollar & the rise of stocks has changed the perspective for now & it’s time to reassess.

This week is quite on economic front, with the exception of Powell's speech, which may allow the markets to digest last weeks data & offer a clearer picture for the longer term direction of the markets.   

Jonathan shares his thoughts around the USD and notes that many dollar pairs such as GBP and EUR are all moving higher and taking advantage of this recent dollar weakness. We will have to wait until next weeks CPI report for further clarification of dollar positioning.

Speaking of taking advantage of dollar weakness, Gold failed to do so, still hovering shy of $2000 not able to break higher despite the sell off in USD. Both Jonathan and Rory agree that if gold can’t move higher now, what will make it move higher? It perhaps doesn’t look as attractive as other trades such as FX or the fixed income space.

Crude oil rose to nearly $83 on Monday morning trading but remains under pressure despite Saudi Arabia confirming an extension of its 1 million barrels per day additional voluntary production cut until the end of December, while Russia said it would continue with its additional voluntary supply cut of 300,000 bpd from its crude exports as well.

Finally, we have another busy week of earnings. Rory has shared the economic calendar and earnings calendar within the app, along with Jonathan and Adam, who are posting their daily analysis on the markets.

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