While the vulnerability of women and girls continues to be the subject of research and concern among social service providers, few attempts have been made to understand the vulnerabilities and lived experiences of transgender persons in the sex industry. Among the studies that have been done, most have focused on sexual health and their likelihood to contract or spread HIV/AIDS, often ignoring other potential vulnerabilities. This study aims to provide a broad baseline of data on the perspectives and experiences of transgendered persons in the sex trade in Phnom Penh, allowing for a more nuanced understanding of their needs, and vulnerabilities, including their trajectory into sex work and potential alternatives. In addition, this study aims to aid the development of programming and social services that meet their needs holistically, looking beyond gender expression and social identity to address often overlooked needs and vulnerabilities. This study notes the respondent's common personal feelings of self-blame, shame, and guilt, and discusses a perceived fatalism observed within the social identity of transgender persons in the Cambodian sex trade, and the impact this may have on their perception of alternative employment, future options, and vulnerability to violence. The majority of respondents, or 74%, indicate sexual harassment, and 40% cite physical assault within the past 12 months, as well as more than half of respondents (55%) who cite being forced to have sex against their wishes. In addition, respondents describe diverse and overlapping forms of stigma and discrimination including: loss of employment (39%) and loss or denial of housing (20%), denial of education (12%) and denial of basic health services (10%) as a result of being transgender. Over half of those citing stigma and discrimination and more than one-third of those citing physical assault, cite police as the perpetrators of the violence. This study notes the respondent's common personal feelings of self-blame, shame, and guilt, and discusses a perceived fatalism observed within the social identity of transgender persons in the Cambodian sex trade, and the impact this may have on their perception of alternative employment, future options, and vulnerability to violence.