Stay or go ?

Discussion in 'Professional Trading' started by rjmahan, Mar 25, 2004.

  1. rjmahan


    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 dole 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. Allthough I had about 4 months where i ran the account up 60%. 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.
    I dont have a definite working strategy but I am trying to develop one.

    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 England 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 ?
  2. is the best advice for success and happiness, IMHO. Sounds like you're having a good time in China so stay with it. The economy is good (if you're in an urban center) so why give it up?

    There's nothing in the trading rulebook that says you have to do it full time to make money. If you master swing trading on EOD data, then great!'re successful. I just don't see why you would give up a good day job to trade professionally.

    Keep working on it on the side.
  3. funky


    you answered your own question :confused:
  4. I really loved my time teaching in China.. i found it hard to trade because of the internet situation.. perhaps its better in a university though.. i was teaching kindergarden and 2nd grade in a private school for rich kids.. what part of China are you in?

  5. BSAM


    Didn't know China had "rich" kids!:D

    funky......Your response is on the mark. Should help point him in the right direction. He shouldn't be trading AT ALL until he establishes a plan and CLEARLY understands it.
  6. China may not have many rich kids, but it does have some REALLY REALLY rich kids.
  7. Scientist, Grob, Harry...LongShot - Are you listening? :D
  8. Cheese


    Your case: jack it in.
  9. Winston


    Find a China Doll and ENJOY!:D :D
  10. rjmahan


    I am in Shandong province, Taian city - near the mountain.

    China dolls dont interest me as they dont help me make money - in fact quite the reverse.

    I dont have a system but when I paper trade I tend to make money.

    When I say I dont have a system I mean I dont enter on certain MA crossovers or whatever. I just look at the patterns in the chart and see if I like what i see.
    I do cut my losses and run profits I just have too many loosing trades.

    Would the trading help me get a prop trader job in the UK or I should I not mention it ?

    Are none of you guys discretionary ?
    #10     Mar 25, 2004