GCG Asia Malaysia’s CEO Richard Alexandre Shares Insights on Forex Trading & How to Profit Legitimately
With all of the preconceptions and biases surrounding the forex business, it may not be easy to get clear answers to the most often asked topics. What much cash should you begin with? Is it necessary to acquire a bachelor’s degree in economics to be successful? Or is forex trading legit money-making or is it just a game of chance? Do you need a broker?
Richard Alexandre, GCG Asia CEO, and co Founder answers many of these questions and more in this article. Speaking from his GCG Asia’s Malaysia office, Richard Alexandre has been trading for a long time and has firsthand knowledge of how his GCG Asia customers in Cambodia, Singapore and Indonesia perform. Therefore he is the best person to ask about forex trading like withdrawal issues, scam alerts and brokers.
GCG Asia CEO Alexandre sat down for about an hour and in a candid conversation covered various topics relevant to GCG Asia’s Malaysia followers relating to forex trading, GCG Asia investing philosophy, brokerages, and an issue of concern to many, forex scams and warning people about fraud. The conversation also touched on subjects like a 2020 review of GCG Asia’s business and how the company wanted to move forward in 2021. GCG Asia’s Richard Alexandre said that in Malaysia, he exclusively trades three products: gold, USDCHF, and silver.
Alexandre did the interview from the GCG Asia Malaysia office after a busy day making some GCG Asia Malaysia official announcements and reading up on the latest news. “It’s always a busy day at the GCG Asia Malaysia office. But the team here is effective and I enjoy my time here. It’s always something new going on. For example, GCG Asia Malaysia got a call from Dato Sri Darren Yaw, who, if some of you don’t know, is a known individual in investing circles. He is very interested in collaborating with GCG Asia. So that is something I’m looking forward to,” said the GCG Asia CEO and co founder before the interview officially started.
Without further delay, let’s get into the Q&A with CEO and co-founder Richard Alexandre.
How did you get started in the business? What were your motivations for getting into forex trading?
When I was a student in Singapore, I began trading. I enrolled in a portfolio management program with a buddy, and we chose to trade in bonds and stocks. I wanted to start forex trading two years later. So, in all, I have been trading for eight years. I enjoy the fact that the Forex market is constantly open and accessible. It is thrilling to think that anything might happen late at night and alter the market position.
What challenges in forex trading did you face?
The beginning is usually difficult: novice traders lose the majority of the time unless they are very fortunate. You only begin to be incredibly successful when you gain knowledge to watch and understand the market. Since you need skills and, yes, the capacity to take a blow–every dealer loses at some time.
The toughest aspect, in my perspective, is risk management. You must determine how much you are willing to risk, honestly evaluate your options, and know when to exit the transaction. It’s sometimes preferable to close your holdings and reconsider the issue.
Do you believe anybody can trade?
It is entirely up to you and your personality type. I would not suggest forex trading to someone who is afraid of taking risks because “if you fear, you fail.” Forex trading requires a level-headed individual who can make choices.
Do you believe that a trader's financial education is vital?
Forex trading is all about observations and psychology, not academics. I learned economics, and I can assure you that dealing, trading, investing, and holding an economics degree is not related. The person who helped establish GCG Asia in Malaysia had no experience in finance or forex trading. So it’s not vital but you do need to keep updated for example, by reading GCG Asia’s latest news or updates. Our GCG Asia Malaysia news updates through the website and email, telegram and twitter are very useful for this.
GCG Asia followers do want to know, how much capital do you need to begin trading?
You can start with as much as you can spare. I started with USD$22,000 and started with 4-5 trades a day before I started to see results. You may begin with as little as $900, but with such a low volume, you would open fewer trades at any one moment.
Who are the types of known individuals that are successful at trading, according to your experience as GCG Asia Malaysia CEO?
Those who understand the marketplace, headlines and acquire the appropriate volume can succeed. It’s a crucial issue that I constantly bring up while speaking with my clients.
Every day, create 5-6 profitable jobs, then shut your device and go out to eat. That concludes our discussion. For forex trading, you needed to maintain a clear mind, sleep properly, and remain concentrated.
Frequently I see my GCG Asia in Cambodia customers get too enthusiastic and create 30-40 trades — it’s insane. You can’t manage that many. GCG Asia Malaysia clients are also similar. I try to tell them to not get carried away.
Lastly, how do you decide which goods to sell? Personal preference or numbers-crunching?
Every trader must have a portfolio of three to four items that he or she enjoys. And when I say “preferring,” I’m referring to the ability to exchange them. So it boils down to experience — knowing how a product acts, remembering patterns, and anticipating future market moves is simpler. This is what I tell my clients at GCG Asia Malaysia.
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