Forex trading in Malaysia is a popular activity and more and more people start their trading journey each year. Financial trading is regulated by the Securities Commission of Malaysia (SC). SC oversees and regulates forex brokers, ensuring they adhere to certain standards and guidelines to protect investors.
With the increase of the number of active traders, the number of successful Forex traders Malaysia has also risen. Success in forex trading can be defined differently depending on the goals and aspirations of a trader. For some, becoming a well-known trader and educator might be a success, for others having consistency in profits and account growth. While for many others success can mean making the largest profits.
In this article we discuss the success stories of the best traders in Malaysia that have gained popularity by currency trading.
Top Forex traders in Malaysia
Most people start the trading journey because they believe it’s an easy way to make a lot of money, while the opposite is true. By reading the stories of Malaysia best Forex traders that have made very big profits, you will see that successful traders are hard workers that often have side businesses and offer training courses to other traders. In addition, you will learn that every trader has his own approach, which means that there are a million ways to make money in the market. You simply need to try different strategies and find out what works best for you.
Datuk Jimmy Wong
Datuk Jimmy Wong is a famous figure in the trading world, particularly in Malaysia. Datuk is a currency trader and educator that has gained a significant following through his educational activities and expertise.
Jimmy Wong’s main focus is on price action trading, which involves analyzing and making trading decisions based on the movements of price on the charts. Wong has created his own trading rules and strategies, which he shares with his students aspiring to becoming professional traders.
Khairul Faiz is a Malaysian FX trader that has made a first million from trading when he was 26 years old. Khairul Faiz is one of the leading Forex investors Malaysia has seen recently. He has learned how to trade correctly the hard way. Faiz made a first deposit of 10,000 USD in his FX account in 2015 and lost it all due to greed. After the loss, Faiz had no other choice but to live below his means for a while. Although he was thinking about giving up trading for good, he decided to persevere.
According to Khairul Faiz, there is no such thing as getting lucky in currency trading and success is the result of knowledge. Having knowledge is the difference between a trader and a gambler. Faiz believes that trading financial instruments are worth taking the risks However, traders need to be prepared for losing money. According to him, savers are losers, and he sees investing as a better option.
Oma Ally, also known as Muhammad Aizat bin Abdul Rahman, is one of the Malaysia best Forex traders. He gained popularity for his unique trading strategies and educational content. Oma Ally has developed trading strategies around technical analysis and is famous for integrating Moving Average Convergence Divergence (MACD) indicator in his trading.
Oma Ally has developed “BBMA Technique” that involves use of Bollinger Bands indicator in combination with Moving Average indicator. Oma’s approach focuses on the importance of price action and market trends.
Oma Ally shares his trading insights, conducts trading sessions, and provides educational material to help his students become professional traders.
What should you focus on to become one of the best FX traders in Malaysia
Malaysia Forex market leaders use different strategies and approaches to make money trading currencies. Every trader is different. As a beginner, it’s best to learn different trading strategies, demo trade them or backtest them and find what works best for you.
Focus on consistency if you plan to be in the game long term. To make a lot of money in trading, you need to have a substantial amount invested in your trading account. In case you do not have enough money, you can attract capital from investors. It’s important to note that investors and trading firms that hire professional traders are looking for consistency and gradual account growth rather than bad risk management and huge spikes in the balance. Learn how to manage drawdowns effectively and grow your account step by step to attract investors.
Learn about compounding and avoid scams. Doubling your trading account overnight is possible, however, highly unlikely. Instead, try to use the power of compounding to your advantage. Compounding simply means reinvesting your profits into your trading and making larger profits due to the sheer size of your trades, while the risk reward ratio and percentage points stay the same.
FAQs on the most succesful Forex traders in Malaysia
How many Forex traders are in Malaysia?
Currency trading is highly popular in Malaysia. While it’s difficult to say exactly how many traders are there in the country, according to many estimates, there are over 4.7 million Malaysians that have tried Forex. And over 215 thousand residents of the country are actively engaged in trading currency pairs.
Who is No 1 Forex trader in Malaysia?
One of the top Forex trading influencers Malaysia has seen is Oma Ally, also known as Muhammad Aizat bin Abdul Rahman. He gained popularity for his unique trading strategies and educational content. Oma Ally has developed trading strategies around technical analysis and is famous for integrating Moving Average Convergence Divergence (MACD) indicator in his trading.
Can Forex trader be millionaire in Malaysia?
Yes, one example is Khairul Faiz who has made a first million before the age of 27. He has learned how to trade correctly the hard way. Faiz made a first deposit of 10,000 USD in his FX account in 2015 and lost it all due to greed. After the loss, Faiz had no other choice but to live below his means for a while. Although he was thinking about giving up trading for good, he decided to persevere.