Read Jake's story
Read Jake's story
Jake joined OSTC in April 2017 after hearing about the company through one of our experienced traders Bradley. When Jake heard that OSTC were recruiting Junior Traders he saw it as the perfect opportunity to gain exposure in the industry and had nothing to lose by applying.
Trading wasn’t always a clear career path for Jake with initial interest in Law and Fashion. After studying A Levels at college Jake chose to study Law at Cardiff University as he felt it was a well-rounded degree that would allow him the freedom to contemplate various career paths. Whilst at university Jake worked at various fashion brands within Cardiff and at one point considered applying for high-end retailers in overseas branches.
Jake is part of the Jacks intake who were the first group of traders to join the Eurex fixed income desk. When describing his role Jake said:
“I think everyone brings something unique to the desk; some of us have substantially more trading experience than others and that shows, others just look at things in a completely different way to you. As we were almost forced to communicate so much during our training, the diversity really helps and so your role is that of a team player in a sense. Individuality and competitiveness are of course encouraged, but yes in your role you are expected to help others to a certain extent. I enjoy helping others and I think with the progression of my own trading and the Eurex desks I’d like to have an active role in development if needed.”
Initially Jake found the training process at OSTC very intense and overwhelming at times, especially considering the amount of information presented in a very short period of time, however he now understands how vital it was in becoming successful. “You can expect nothing less than to be overwhelmed at times as a trader. It really does test you mentally so an intense training process is precisely what you need to prepare yourself. It might not be for everyone but I enjoyed it”. The training involved numeracy tests in the morning and afternoon, an introduction to the markets and the external economic factors that impact the products. Additionally a lot of time was spent practising trade execution skills on Stellar, the platform on which trades are performed.
When asked about OSTC’s expectation of a trader in the first 6 months, Jake said:
“You are expected to give it your best shot and hit the ground running. However, there is no real pressure to make money as you are made to understand that these are very difficult markets. The expectations are more that you show a real willingness to listen, learn, and probably most importantly ask questions constantly. There will be a lot of times where you are really puzzled by what is being said (or at least I was), and the only way to solve that is to ask. I’ve never not been given an answer that helped.”
Jake has been commuting from Cardiff for the past few months but says he enjoys working in the Swansea area as it’s a great location. The only drawback being that the commute makes the working days longer, however Jake utilises this time by listening to Bloomberg’s 6am report on the markets before they open – which is preparation he wouldn’t be doing if he lived locally.
In his spare time Jake loves playing football for a local side and has met many friends through it over the years. His career aspirations are to continue trading with OSTC, hoping to progress to Senior Trader level with consistent results, and to help with the development of the Eurex desk.
Read Hywel's story
I worked with an ex-trader when on a work placement, so I had an idea of the energy and commitment required for the role. I also read the book “One good trade”, which was helpful at giving me an insight into the thought process and set-ups for a trade, but it was still a pretty alien concept when you look at the screens filled with numbers.
I had a good year last year and it was great to get the bonus I did. I really felt that was a reward for all the hard work I’ve put in during my time at OSTC. For me, that’s the key. It is hard work and you have to have the determination to succeed, bounce-back ability, be calm under pressure, ready to admit when you’re wrong, and also be able to analyse your trades