The Market Huddle COMEX Futures Veteran Insights (Guest: John Johnston)
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Mar 15, 2025 This week, trading veteran John Johnston shares his journey from the chaotic trading floors of COMEX and NYMEX to modern markets. He reflects on the legendary silver squeeze of the 1970s and his current trading picks. The conversation also dives into the emotional challenges traders face, the significance of stop-loss orders, and the evolving landscape of trading strategies. Johnston evaluates the interplay between gold, equities, and currency dynamics, offering engaging insights into today's financial climate and market trends.
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Silver Squeeze Stories
- John Johnston recounts the silver squeeze of the late 1970s, highlighting the volatile market.
- He recalls a colleague losing $4 million in one minute and the use of "pools" for selling during limit-down situations.
Writes the Passage
- John Johnston discusses his story "Writes the Passage," about his daughter's struggle with sales ethics.
- He advised her to find her ethical boundaries and stay true to them, recalling his own experiences on the trading floor.
Pit Size Matters
- John Johnston emphasizes the importance of "pit size" in trading, referencing Charlie D's advice.
- Expanding your network of trusted traders within the pit is crucial for managing risk and errors.