Why is it always Graduates ?

[rogerha]

I have been an amateur trader for about 2 years now, I comitted to it for one year full time (self-funded, self-taught, and working from home), however whilst I recovered my account to break-even after my initial and inevitable failures, I never was funded well enough to continue doing it full time and generate a 'consistant' salary.

I am marginally profitable now, not hugely but the most important thing is that I only trade part-time since I had to go back to full-time employment, and I make enough money from trading to keep me trading.

I am soon to have some extra money available (probably about £20k), and am seriously thinking that I would like to go back to it full time, maybe with an arcade, and some training to fill in the blanks.

It just strikes me as very dissapointing that everybody wants 'Graduates' with a few exceptions. I have tried many business ventures in the past, and I have spent quite a lot of time now in various Futures markets. I am 31 (no spring chicken but hardly past it), and I have a good head for risk and discipline.

I know I can do it, I have made the innevitable mistakes, lived to tell the tale, and I still have an enourmous passion for it. Has anybody else got to this stage in their trading careers ? How easy did you find it to carry on ? Does anybody have any recommendations as the best next step for me ?

I don't think I know it all by a long shot, but I have a solid grounding, and I am sure I can do it well, with a little more 'mentoring'.

 

[mickandpete]

Relocation to the Uk might help

 

[Directional]

£20k is enough to go fully self funded as an "own accounter" with most Arcades. You should think about approaching an Arcade and finding out about what options you have for being trained in their "in house" methods if you were to trade your £20k with them.

Unless of course you are already happy with your trading methods, in which case its just a matter of deciding which arcade provides services most appropriate for you.

 

[rogerha]

Good Point :cheesy:

We are a bit short of Trading Arcades here in Outer Mongolia

 

[rogerha]

I am not entirely happy with my methods. They are largely put together over time and experience with a lot of background reading, but I still think there is room for improvement. I guess a lot of traders think like that though. This is my main reason for going to an aracde.

 

[TWI]

Should contact Martin Duncanson he is now trading his own account and did it on his own as he did not fit the grad mold either. He was the guy who wrote the recent article here on T2W about arcades. Good bloke.

 

[bundbaby]

Dear R,
seriously, where r u based. I will be happy to put you in touch with some one in your area.
regards
BB

 

[rogerha]

Thanks BundBaby, I am actually based in Wiltshire, but only an hour from London, and to be honest travelling doesn't bother me. If I get the right outfit with the right direction for me personally, I will travel to them.

 

[bundbaby]

Check out Futex. I know they offer training for people with balls, graduate or not. They have a couple of offices west side of M25 - perfect for you. www.futex.co.uk

dont be put off that you are not a graduate . houses appreciate go getters

hope that helps

BB

 

[rogerha]

Cheers Mate, I will look them out.

 

[tieler]

I have been an amateur trader for about 2 years now, I comitted to it for one year full time (self-funded, self-taught, and working from home), however whilst I recovered my account to break-even after my initial and inevitable failures, I never was funded well enough to continue doing it full time and generate a 'consistant' salary.

I am marginally profitable now, not hugely but the most important thing is that I only trade part-time since I had to go back to full-time employment, and I make enough money from trading to keep me trading.

I am soon to have some extra money available (probably about £20k), and am seriously thinking that I would like to go back to it full time, maybe with an arcade, and some training to fill in the blanks.

It just strikes me as very dissapointing that everybody wants 'Graduates' with a few exceptions. I have tried many business ventures in the past, and I have spent quite a lot of time now in various Futures markets. I am 31 (no spring chicken but hardly past it), and I have a good head for risk and discipline.

I know I can do it, I have made the innevitable mistakes, lived to tell the tale, and I still have an enourmous passion for it. Has anybody else got to this stage in their trading careers ? How easy did you find it to carry on ? Does anybody have any recommendations as the best next step for me ?

I don't think I know it all by a long shot, but I have a solid grounding, and I am sure I can do it well, with a little more 'mentoring'.

I used to trade for an Arcade in the City that take on people regardless of age, they do some training too. Wouldnt hurt to try them www.pelicanwest.co.uk

 

[bundbaby]

NOTE FOR NON GRADUATES

It means as much if not more that you have a genuine love of trading than being a graduate. If you can demonstrate that on your CV/ communications to prop houses/employers then they will take notice.

 

[rogerha]

This is great stuff from everybody, thanks very much. I would always also be interested to hear form anybody that has actually done this as a non-grad.

 

[Pitscum]

by the time ur a graduate you're too late. the most successful locals i knew were cabbies or tic tac guys from the race tracks (yes we did hire two infact at gerrard national) they rocked. if you have the guts not to run for cover and can break even after one year yes you'll make it and yes you're worth hiring by someone who can see past the graduate mould. what does make me laugh is the people who go for the grads are , normally lucky if they themselves have 5 o levels..methinks its aspirational....

 

[bundbaby]

by the time ur a graduate you're too late. the most successful locals i knew were cabbies or tic tac guys from the race tracks (yes we did hire two infact at gerrard national) they rocked. if you have the guts not to run for cover and can break even after one year yes you'll make it and yes you're worth hiring by someone who can see past the graduate mould. what does make me laugh is the people who go for the grads are , normally lucky if they themselves have 5 o levels..methinks its aspirational....

Hi P
and now some of the locals i knew are now cabbies ( i can name 3) and i met a group of 4 of them who are now tic tac guys (bookmaking) at race meetings when the floor closed - funny how it turned around. I hear Crawley has gone back to carpet fitting!
BB

 

[Pitscum]

Hi P
and now some of the locals i knew are now cabbies ( i can name 3) and i met a group of 4 of them who are now tic tac guys (bookmaking) at race meetings when the floor closed - funny how it turned around. I hear Crawley has gone back to carpet fitting!
BB

tell u what if el tel crawley is carpet laying then its time to short allied carpets cos the bloke will clean up....and at night retire to his nice bit of wilton surrounding his fish tank floor!!!

 

[Pitscum]

oi bundb did u know micky c?

 

[mickandpete]

I have just reread your original post
It speaks volumes about you
I have just one piece of advice
GO IT ALONE
As you enter your thirties you will find that you crave INDEPENDANCE
You will want to be your own man/boss
Use half your stake and go for it
If you lose try something else ( You can make it work just as well with 10k as 20k)

 

[fudgestain]

I have been an amateur trader for about 2 years now, I comitted to it for one year full time (self-funded, self-taught, and working from home), however whilst I recovered my account to break-even after my initial and inevitable failures, I never was funded well enough to continue doing it full time and generate a 'consistant' salary.

I am marginally profitable now, not hugely but the most important thing is that I only trade part-time since I had to go back to full-time employment, and I make enough money from trading to keep me trading.

I am soon to have some extra money available (probably about £20k), and am seriously thinking that I would like to go back to it full time, maybe with an arcade, and some training to fill in the blanks.

It just strikes me as very dissapointing that everybody wants 'Graduates' with a few exceptions. I have tried many business ventures in the past, and I have spent quite a lot of time now in various Futures markets. I am 31 (no spring chicken but hardly past it), and I have a good head for risk and discipline.

I know I can do it, I have made the innevitable mistakes, lived to tell the tale, and I still have an enourmous passion for it. Has anybody else got to this stage in their trading careers ? How easy did you find it to carry on ? Does anybody have any recommendations as the best next step for me ?

I don't think I know it all by a long shot, but I have a solid grounding, and I am sure I can do it well, with a little more 'mentoring'.

Graduates.
Its the way of the world, pal.

I was a graduate.
I'm not fooled by them.
I prefer a non-graduate if I want a raw bright young bloke to become an effective smart employee in the City.
Same rule for all though .. you don't work out, you get the 'push'.

 

[rogerha]

I have been my own boss for years. This current job is the first position I have had for 11 years that I have not been self employed for, and this is out of necessity rather than ambition. I have given up 1 year to attempt trading (as per my original post), before that I set-up, ran and then subsequently sold a Home Cinema/HiFi retail outlet, prior to that I was a self-employed IT Network Consultant working for large Blue Chips. During all that time, I have dabbled in trading Stocks, Spread Betting, Betting Exchanges, winning/losing and learning, before finally settling on the futures market (mainly financials and FX futures) about 3 years ago as my main point of interest.

Trading appeals to me more than anything else. The main reason is this. Only you can be responsible for getting it right or wrong. You can't blame bad marketing for a lack of profit, or a disgruntled customer ruining your business, or countless other reasons for not being able to do your job properly. It is the individual that dictates success or failure (in my humble opinion).

I am certainly not knocking Graduates though. I honestly do think it is a good representation that somebody is prepared to apply themselves to acheive, as well of course as being knowledgable about the subject that they had chosen to read. I also understand why it is used as a 'filter' for getting the right candidates through the door.

I just wanted to get a feel for how many people there are out there that got into the industry that were in similar circumstances to me.