OK,This is likely a more unusual question, but anyone who has encountered anything similar or who has any opinion no matter how hostile ... Please go ahead... Please read on at least as it is more entertaining than most of what is on the internet...In 2001 I graduated Oxford with a 2:1 in Economics and Politics, solid Alevels, no work experience. Fact of the matter is I hated Oxford, being from a poor, lower class(ish) background. I didnt fit in. I kept to myself and so had no extra curriculars, no work experience. Fact is I pretty much had a break down.I had a few interviews where people said I was smart but for whatever reason - they wernt going to give me a job.At this time I became interested in trading and did some paper trades. These went well. I did a couple of real trades, these went well too... I began to think... maybe I can make money from this....I realised I needed more time to work on this. I also realized that the doll office was getting antsy. I needed time to study and trade, money to buy food and a roof over my head. I signed up with a spreadbetting company and got on a plane to teach English in China. Real easy job - no money to speak of - just enough to live. I only taught 12 hours a week and I really enjoy it. (Incidentally China is really cool and if you get to go and meet the people there it is well worth doing. Keep your eyes on your wallet and you will be fine). I now teach Economics to masters students in a University in China, unfortunately over the past 2 odd years I havent succeeded at the trading. I have learnt alot, fundamentals, TA etc. But I am down 15% after a pretty volatile ride. I have only been trading a small ammount of capital as I really see this as a testing / learning thing, not a full out, time to get rich thing YET...I have survived the last 2 years, which havent been the easiest, I can cut my losses, I can manage margin sensibly, however I am marginally profitable at best.I think if I keep at I will be profitable. However I have no idea how long this will take. I am also aware that trading can warp your mind and I could be totally nuts.My question to you guys is this. Should I plan to return, get a prop job and get taught ? Would I get a prop job if I were to return ? Is it time to quit and get whatever I can back in blighty and try and trade part time? Or should I stick it out over here keep plugging away until I either succeed or fail (with 20X leverage that could happen quite quickly, but based on past experience probably wont) ?What is the answer guys ?

You should get back to London and hunt for a proper position - you said that you didn't do much in the way of extra curricular experience...but now you've been away for 2 years this could be used as some positive experience - also, you will still be viewed as a graduate by most firms.

What do you mean by a proper position - just something graduate level or something trading related ?Thing is last time I didnt have much luck - and I doubt my experience will be looked on favourably by anyone unless they have a particular mindset.Anyway your view is appreciated..

what are u trading? with that sort of leverage, sounds like currencies & commodities. What is your strategy? Do u have a fixed startegy? I would say if u feel u can make it trading... then its the best place to be... for lifestyle and pay. I trade index futures, done it for 2 years and am doing ok... nothing spectacular, but ok.. however I feel that i have learnt a lot and am coming on to the point where the learning curve starts to level off.... waiting for the $$ to come on a more consistent basis. I am thinking of joining an exchange if I can get the $$ together, maybe in 2-3 years and start trading full time out there. Until then, gonna try and work on the sell side somewhere. If you can stomach the volatility then, you are ok... its a risk in the end, but if u like trading then this is what u thrive on.I would say, you really need to think about why you want to do trading? what appeals to you about trading? Could you do this for a long time?

QuoteOriginally posted by: rmahanOK,This is likely a more unusual question, but anyone who has encountered anything similar or who has any opinion no matter how hostile ... Please go ahead... Please read on at least as it is more entertaining than most of what is on the internet...In 2001 I graduated Oxford with a 2:1 in Economics and Politics, solid Alevels, no work experience. Fact of the matter is I hated Oxford, being from a poor, lower class(ish) background. I didnt fit in. I kept to myself and so had no extra curriculars, no work experience. Fact is I pretty much had a break down.Which college were you at? I was from the same sort of background as you, as were most of my friends there, and the worst we had was the very occasional encounter with someone who we had nothing in common with due to such disparate backrounds. One such guy felt depressed because he was "surrounded" by people from state schools, as he'd been to one of the better public schools prior to coming up to Oxford. He felt he was in an environment that he couldn't fit in.I really am sorry to hear that you had such a bad time, but I hope others will not be too put off by it. Certainly choice of colleges affects happiness, but equally, I had a friend who picked Leeds over Oxford, having been accepted and made the grades at both, and who left through depression, and ended up just going back home.

Oxford - I was at LMH.I found people there to be very self serving and prone to boasting and one upmanship.I knew alot of very unhappy people when I was at Oxford. I would say for every one person who absolutely loves it there is another one who it really damages. Thing is when you are there you only see the people who really love it. People who hate it spend most of there time in their rooms alone are very common in my experience... I coped better than most.Also it isnt the meal ticket it is made out to be when you apply. I know a good number of people who graduated who cant find decent jobs. Having said that the ones who cannot find jobs are almost all those with no work experience and this result may change as time goes on.

Trading strategy.It is one of my weaknesses. I aim pretty much to long when it is going up and short when it is going down. Problem is when it range trades like it has the last couple of weeks I get hurt.I am also aiming to short high PE stocks when it goes down and long low PE stocks when it goes up.I also have identified a couple of chart formations that give me strong high probability entries.My main problem is I cannot identify decent opportunities accurately enough. I have a lousy win rate, though my winners often win more than my loosers loose.I do cut my losses and run my winners however.Currently I spreadbet - 20X leverage is on UK equities - you get more on currencies/ bonds... Most people cannot handle that much leverage and they just kill themseleves. Which is probably why spreadbet companies offer it.

I'd just put the past behind you and move on. On paper you now have a good degree from a top uni and some interesting experience in teaching in China. I think you'd be looked on very favourably by recruiters in the City.Two tips: (1) don't emphasise the trading on your own account too much - it sounds a little amateurish to the pros doing it day in/day out. And any trading job you are just managing the book initially and trying not to screw up. No-one is interested in your views on the market, or in giving you any of the bank's precious capital to throw away. (2) Regardless of your uni experiences, or the reasons you went to China, PUT A POSITIVE SPIN ON IT. Just talk about how you wanted to travel, see the world, werent ready to settle down to an office job just after graduating - but now you are.

I'd suggest a job where you can use your Chinese, I am sure you must speak it reasonably by now. For example sales, or investment banking.And certainly do not dwell too much on your trading PA. Only a few shops are interested in that kind of delta punting, and many trading departments actually despise it (esp. derivatives ones).

I only speak pretty basic Chinese - I could have decent Chinese by now and I could improve it rapidly if I quit on the trading and concentrated on it 24/7. Point is There are millions of Chinese all learning English who speak it far better than I ever will. I dont see Chinese ever being a shortage language. I could easily learn any number of languages in the next 6 months (one of my talents I never bothered exploiting) however I doubt the usefullness of this... It has been something I have considered doing. However I am utterly unsuited to sales, that sort of game is for extroverts...Part of the attraction of trading for me is it allows me isolation from my fellow man, so learning a language to communicate with them more doesnt suit, though I can see the logic of playing on my knowlege of China.If I were to come back I would be sunny, bright and well adjusted.... Still I rate my chances of getting a job as slim - especially when there are guys with masters and internships unable to get one. Am I right on this do you think ?The trading performance isnt that bad. A couple of Pro shops I talked to before I left talked about 50-60% failiure rates for new traders in the first year or so.... That is with support, training and decent data feeds (although they are probably operating under far more pressure than me). I also read a study done during the boom which said something like 70X + of day traders managed to lose money... most of em more than me... As to delta punting, Plenty of floor traders and prop shops in the city do similar things. I got reading from a couple of prop shops and they were recommending TA books and similar things to what I was already reading.The vast majority of them are not interesed at all in greeks - when I interviewed with them in the UK and mentioned such things they seemed to view them as rather academic and gave me the idea I shouldnt bother with them, otherwise that is something I would have explored further.I take the point that big banks dont generally touch this sort of discretionary stuff....Any more views would be appreciated...Sounds like you guys all think I should be getting on the plane home....You could well be right.

QuoteOriginally posted by: rmahanOxford - I was at LMH.I found people there to be very self serving and prone to boasting and one upmanship.I knew alot of very unhappy people when I was at Oxford. I would say for every one person who absolutely loves it there is another one who it really damages. Thing is when you are there you only see the people who really love it. People who hate it spend most of there time in their rooms alone are very common in my experience... I coped better than most.Also it isnt the meal ticket it is made out to be when you apply. I know a good number of people who graduated who cant find decent jobs. Having said that the ones who cannot find jobs are almost all those with no work experience and this result may change as time goes on.Well, I am sorry to hear that. I'd have thought LMH would have been a great environment for someone form your background (I was at a similar college). I really do hope you're wrong in your estimation that as many people are "damaged" as love it there.

I could well be exaggerating when i say as many are damaged as love it, but seriously...there were maybe 15/16 rooms on my corridor in my final year.I knew at least 2-3 of the people on the corridor were real hardcore drink alone till they pass out alcoholics. Another couple were very very reclusive.Now I am not saying that Oxford was neccessarily the only cause a lot of overachieving types are pretty messed up in the head, but i knew a major percentage of people who were seriously unhappy there....It is a fact Oxford has the highest suicide rate of any uni in the UK... (or it had when I was there) Anyway back on topic ... stay in China or go home ?

Trade for myself or take it from the man? What do you thinkI think -- take it like a man.

QuoteOriginally posted by: NTrade for myself or take it from the man? What do you thinkI think -- take it like a man.Thanks any reasons ?

You can still trade a personal account if you take a position in a bank.Moreover, it sort of reduces your overall risk, since you have a certainsalary cash flow against the uncertain trading profits.Not quite sure what China is like but I have had some interesting experiencestrying to book trades in Emerging Ecconomies over there telco networks. In theUK you can now trade currencies for example 24/7; set up streaming news overa boardband connection in your house, and work during the day in a bank. Youwill be able to live and breath the market, I imagine this is differcult to do in China.