GCG Asia Interviews: A Q&A with A Forex Trader on What it Takes to Legit Succeed

For several years, GCG Asia’s colleague and forex trader Lam Ka Wai in Singapore has been an enthusiastic financial sector analyst. He is a firm believer in trading consistency and basic strategies. 

He believes that limits are crucial and that desire is something that no investor should possess.

GCG Asia thought we would reach out to him to get insights into the work he does and how he became successful.   

Lam Ka Wai responded to GCG Asia’s queries at once, explaining how he became a dealer, how he likes to operate on the forex market, and the secrets of being an effective trader. As a trader and broker, he has worked in markets like Malaysia, Singapore, Cambodia and Indonesia. Read on for GCG Asia’s exclusive interview with him! 

GCG Asia: After a profession in photography, how did you end up as a forex trader?

Most of the talents that I utilized in photography, I apply them in trading. I majored in high-speed photography with sophisticated special effects and a high level of technicality.

As my passion for the financial markets grew, I discovered that most of the analytical abilities in photography were also applicable in the markets.

GCG Asia: Which of the above abilities were most important to your growth as a forex trader?

To be a successful photographer you must be willing to grasp a huge amount of technical information, arrange that material, and bring it to exposure at a particular moment in time. 

They master a massive amount of information, arrange that information into a meaningful trading technique, and then implement that trading professionalism in real-time. 

GCG Asia: Is trading currently your primary activity? and does it consume a significant amount of your time? 

Trading is my primary occupation, and as time passes, I prefer to spend additional attention on trading instead of less. I don’t trade for minimal periods, but I do trade for what I perceive to be relatively short periods. I will trade intra-day when I come upon an extraordinary opportunity, but I don’t do it very often.

GCG Asia: How do you feel about the Foreign exchange market as a totality?

I was intrigued to start investigating the forex market since I read numerous reports that claimed the kind of technical tools and methods that I employed performed extremely well in forex. And I’d learned from my previous operations that specific tools and methods performed better in certain markets. For example, many traders are eager to trade the most significant contracts and most liquid marketplaces. Still, as we learn more about technical indicators, we discover that technical analysis performs best in smaller markets. In smaller trades, your win/loss percentages and profit/loss ratios also increase. In less competitive markets, the instruments function better.

GCG Asia: When more individuals use comparable techniques in financial stocks, can this create market noise? What’s the best way to convey this?

That’s true. Take, for instance, a primary market with 100 specific equities to trade. Everyone has been trading those equities for decades, and now you’re introducing options on them.

In a money game, a few of the participants in the exchange begin to trade futures as well. However, the advent of options attracts an entirely new category of participants who begin forex trading and, since the alternatives industry includes equities, they start trading stocks.

And some stocks and options traders have begun to trade index futures since it aids them in their activities. And an entirely new set of participants will begin dealing with the choices as well as the stocks themselves. As a result, you now have three times the number of individuals you had before. The industry is similar to the identical 100 equities, but it is considerably more productive.

There is indeed a lot of extra movement, a much more trade noise, and a bunch more trading going on right now. As a result, the stock’s whole nature shifts. As a legit broker I try to cut through the overwhelming information and data that’s out there. 

GCG Asia: We know that when you started you weren’t successful. Yet somehow you had the belief that you would be a successful trader. Is this typical of successful traders?

It’s a mystery to me. I believed that I was intelligent so it was not an issue of my being unintelligent, but rather my just not comprehending what I need to accomplish.

As a result, I sought out a colleague, GCG Asia’s Founder & CEO Dinish to assist me understand it. In other words, I discovered that the cause of my frustration was not due to the methods I was utilising or trade strategies that I had previously prepared.

Ultimately, even if I had a million-dollar plan it still would have imploded on itself. The problem was my lack of discipline to follow through! I had spent no time addressing my actual money-losing problems. GCG Asia’s CEO Dinish helped me understand this. 

However, I had no doubt that I liked forex trading. It is amazing! I am able to spend every waking moment monitoring the stock market, discussing the things I’ve learnt and researched. I am really passionate about it. Also, I really believed that if I truly wanted it, I could find a way to get it.

So, in order to be successful, I decided to make a choice. What’s the cost? It doesn’t matter to me. I know just what to do.

I put in years of hard work to improve from A to B.  And my current aim is to help other forex traders reduce the amount of time it takes to go from A to B. I want to expedite the transition for people who want to succeed. So that’s why I take opportunities like this from GCG Asia to share my knowledge. 

If this interview was interesting, do check GCG Asia’s Jom Kita Forex website regularly for latest news in forex and for official updates.