brendonyongwengsiang

  As per a common understanding, people usually believe that a trader who is making multiple profits in forex is largely successful. Brendon Yong Weng Siang believes that success should be seen beyond high forex profits. Mr. Siang is a celebrated forex trader who has very much experienced success in this industry. According to him, success should be measured more by what you have learnt than how much you have gained in forex.   Defining the True Meaning of Success   Several forex traders who have experienced success in foreign exchange believe that to reach such a position, they had to pass through several phases. As they started their journey in this industry, they had to experience losses multiple times. They were also surrounded by several risks and managing them was not so easy. To experience success, they had to manage risks, overcome losses, and then earn profits that were expected.   To do so, they had to learn a lot about the forex market. In addition, they had to

 Scalping is a forex strategy that is implemented by many traders. It is believed that this strategy can help you earn a lot by investing a short duration of your time. However, the downside of scalping may not be known to everyone. Even though its downside is not major, knowing it can help you understand the implementation of this strategy in a better way, as is suggested by Brendon Yong .   1. Comes Associated with Risks   The scalping strategy may not be considered negative but challenging. A part of the challenges brought about by this strategy is inclusive of risks. Indeed this strategy can help you accumulate large profits and that too in less time, however, risk will always be associated with these profits. If you can get a hold of these risks and develop the skills to manage them, then you will be able to convert this downside into a positive one.   2. Limiting the Choice of Currency Pairs When you choose to adopt the scalping strategy, you will be required to narro

Foreign exchange is a financial market that can provide you with limitless possibilities to earn. For earning via trading currencies, you do need to develop certain familiarity with the market. A demo account can help you do that. If you are using this account or you will be using it in the future, you may wish to know till when you should use it and access a live account for making real profits. This is exactly what we'll be discussing today.   Indicators to Find out When to Stop Using a Demo Account To begin forex trading, a demo account can give you a tour of what a trading platform is like. It can work as your partner and lay the foundations of your experience in the market. If you're completely new to forex and market operations, then such an account is exactly what you need as a beginner trader. Brendon Yong Weng Siang explains that while you start your journey in forex with this account, when you have gained the basic knowledge of the market, you can hope to switch

  In forex, greed can be a trader's worst enemy. Like fear, overcoming greed isn't easy either. It is believed that this is a human trait. Not only you but many others can easily get trapped in it. Dato Dr. Brendon Yong Weng Siang explains that most of the forex traders would want to earn as much as possible. Even the laziest forex traders may hope for the same. This can easily result in greed which can eventually be your downfall. That is what an enemy would try to do to you. What can Greed Do to You as an Enemy? It has been seen that greed can actually stimulate your life when it occurs in a small amount. In forex, even a little amount of greed can lead to unhealthy situations. As per several sayings, greedy ones often get slaughtered. Keeping in mind the same, forex brokers often suggest traders not to give in to feelings like an extreme hunger for money. It can be surprising to know that when you trade only to satisfy this feeling, you end up losing all your money. Us

Higher leverage is one of the things which makes the foreign exchange market more attractive. Even when this market is compared with stock exchange, the traders can expect a higher leverage in forex. While trading with the help of high leverage, beginners often wonder whether they should use it. As per the forex professional, Brendon Yong , leverage or borrowed capital can work like a sword with double edges at times. When a forex trading beginner has understood the concept of this sword, it will be clear whether or not it should be used. Understanding the Risk of High Leverage for Forex Beginners   Forex beginners may know that leverage is basically the funds borrowed for levelling up the trading position. However, not every forex beginner may understand that using leverage isn't always simple. When the concept of using it is not clear, opting for high leverage will be a big risk. Brendon Yong believes that when the amount of borrowed capitals is increased, the risk of trad

  The value of currencies has a crucial role to serve in the forex industry. It is worth noting that fluctuations in their value is also important and can influence the investments made in the forex industry, says the forex expert, Brendon Yong . Such fluctuations can occur due to several economic indicators. So, today, we will be discussing these economic factors with you.   1. Employment Data   When an economy begins to prosper, it may be due to an increase in employment. This will positively affect the currency of that country. However, a decrease in employment could affect the economy of the said country. Thereby, negatively affecting the country's currency. This is one of the most common causes of fluctuation in currencies in the forex market.   2. Rate of Interest   According to Brendon Yong , the rate of interest is an important economic indicator. In an instance wherein the interest rates are higher, a greater number of foreign investments will be observed. As a re

  Many forex traders join the market to earn good profits. Some of them, in the hope of earning more, do not realize the value of their experience. The ever-so-aspiring forex expert, Dato Dr.   Brendon Yong Weng Siang believes that experience holds a greater value. According to him, the value of experience is greater than that of profits. There are 4 major reasons for this belief. Reading ahead, you can take a look at these reasons. 1. Experience Makes You More Confident Have you started trading forex recently? It is possible that you may not be feeling much confident about how you trade forex. It is possible that you may be trading forex only for good profits. While you should think about forex, your focus should be on your experience. Gradually, your confidence levels will go up. 2. Experience Helps in Identifying Forex Mistakes Following the advice of Brendon Yong Weng Siang , many traders have shared that their experience has cautioned them of their forex mistakes. Ini