His students said this Forex Trading Trainer is a gambler

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His students said this Forex Trading Trainer is a gambler

Postby Dennis Ng » Sun Apr 10, 2011 1:37 pm

I have reached Millionaire status through investing, then I decided to teach, so that I can help guide more people to become Millionaire from Investing as well.

I'm so surprised to find out that there are Trainers/Speakers out there who are NOW teaching people how to Trade Forex but they themselves have YET to even make one million dollars from Forex.

A Forex Trainer Sugiyantho Zhang just confirmed through his messages with me on facebook a few things:

1. he himself has NOT yet made even S$1 million from Forex Trading

Note: on the other hand, all of you know that I reached my First million in year 2008 from Investing into Stocks and Property after I learned from Real Multi-millionaires how to Invest.

2. he uses words like "Play stocks", "gamble" in his conversations....guess he does NOT understand that Investing is NOT gambling, maybe he is gambling since he uses such words. He also said many of his students say he is a gambler. :shock:

3. he has NOT reached Millions from Forex Trading yet he believes so much in Forex Trading that he started teaching Forex Trading... :shock:

So next time you or your friends read Advertisements in newspapers promoting Forex Trading to become Rich, please remember all these FACTS I have unearthed.

http://www.facebook.com/DennisNgKW/post ... 7518252011

below are a few messages between him and me:

Dennis Ng said: I became a Millionaire through investing into Stocks and Property, after I learned how to invest from Real Multi-millionaires in Singapore
March 31 at 10:11am


Sugiyantho Zhang said: Ok bro. I learn from u ya. In 1995-1996 I played stock during my uni to pay my expenses in jkt. I believe what u say.

Dennis Ng said: I don't play stocks. I invest. There is a big difference between the 2. Many play stocks and got Burnt badly. I learn from multi-millionaires how they invest into stocks to become Richer and Richer over time...our rule is only invest when Upside Potential at least more than double the Downside Risks. We just inevitably get Richer by practising this Rule in investing.

Raymond Ng said: My wife had a bad experience in Forex trading... paid 3.6K for 3 days course in 2009, lost some money althought the "plan" strictly. Worst still she was glued to the computer for hour and disrupth the family activities. Finally gave up for good. A lesson learnt is that it is too good to be true...

Sugiyantho Zhang said: Yeah, May be I am different loh, Most of my students say i am a gamble or robot.. I have been trading since end of 2006. Till today 1 day no FX Chart I feel something missing. Thank you for sharing.. C U all

Dennis Ng said: Hi Sugiyantho, so you're gambling. Wish you good luck. Luck is NOT a strategy. You have NOT become Millionaire from Forex Trading yet you believe in it, and start to Teach others. I would NOT want to learn from you, becos if you have NOT climbed Mount Everest, What made you think you can guide others to the Top of Mount Everest. Reading your words, "play stocks" "gamble" I really worry for you. Wish you good Luck.

Sugiyantho Zhang said: Dennis, Ok loh, I accepted your statement. My life so far very comfortable.. Thank you


Cheers!

Dennis Ng
Last edited by Dennis Ng on Sun Apr 10, 2011 5:13 pm, edited 2 times in total.
Cheers!

Dennis Ng - When You Master Your Finances, You Master Your Destiny

Note: I'm just sharing my personal comments, not giving you investment advice nor stock investment tips.
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Postby Dennis Ng » Sun Apr 10, 2011 1:48 pm

lootster wrote:That is why I am puzzled to see Yen suddenly shoot up after Japan earthquake.... Understand the jap government will do something to their currency but never expect it to surge so suddenly.

Thought normally the currency will drop if the country is in a crisis? Does this kind of scenario happens when a country is in a crisis? Hope to learn more from your past experience..... thanks!


I already share the possible reasons in my reply posting to you.

I think the situation illustrates the "unpredictability" of short term currency movements.....which makes me wonder and Worry since there are so many Courses/Seminars out there that teach Short Term Forex Trading....sigh...

I personally have NOT known any Rich person who become Rich through Forex Trading, but I know many who became Rich through investing into stocks and property....including myself.
Cheers!

Dennis Ng - When You Master Your Finances, You Master Your Destiny

Note: I'm just sharing my personal comments, not giving you investment advice nor stock investment tips.
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Postby Dennis Ng » Sun Apr 10, 2011 5:09 pm

I feel very curious and Suspicious.

After reading the entire interview, there is NO mention of how much money he make from Forex Trading.

Guess this is just another Forex Trading Trainer who make millions from Seminars rather than from Forex Trading that's why they don't dare to mention any Profit figures on their Forex Trading.

He sort of "let the cat out of the bag" when he admitted that Forex Trading is NOT his best investment but Food & Beverage biz he set up a few years ago.

Sigh....so many such Forex Trading Seminars but yet TILL TODAY, I personally have NOT met any guy who become Millionaire through Forex Trading, but I know many who become Millionaire through Stock Investing and Property Investing, including my multi-millionaire sifus and also, this is how I reached Millionaire status myself.

Cheers!

Dennis Ng

Apr 10, 2011
me & my money
Ex-DJ's money-spinner: Forex trade
Pub owner learnt the trade from a customer and now runs a forex trading school
By Lorna Tan, Senior Correspondent

Mr Jimmy Wong, 36, started out in his career as a deejay, spinning discs at bars - first at Europa Entertainment and then at Wong San Entertainment.

In 2002, he set up a pub, Illusion Bar, with another partner. The initial investment was $1 million; Mr Wong forked out $100,000. But the timing was bad: The severe acute respiratory syndrome (Sars) epidemic hit the following year and affected the business badly. The bar was shuttered and Mr Wong found himself heavily in debt.

Undaunted, the young man set up pub RAV Entertainment in Circular Road with three other partners just before the Sars epidemic blew over in 2003. It was profitable and he managed to pay off his debts. He recently sold off most of his shares in the pub and now maintains a small share.

It was at RAV that Mr Wong met his 'mentor' - a regular RAV customer and wealthy foreign exchange trader, who taught him forex trading in 2008. It took him about a year before his trades became more consistent. That was when he bought over forex school JF Lennon & Associates, formerly run by two forex coaches, with a six-figure sum, and started running it himself. It received its ISO 9001/008 certification last year.

Now, the bulk of his income comes from forex trading, his overseas investments and JF Lennon & Associates.

Mr Wong obtained his O levels at Shuqun Secondary in 1991. A year later, he obtained a diploma in sound engineering at The School of Audio Engineering.

He is married to Ms Kathleen Soh, 34, who is the general manager at JF Lennon. They have a daughter, Renee, nine, and a son, Reykell Reyes, two. Mr Wong launched his first book, Stupid Trader, last month.

Q: Are you a spender or saver?

I am a saver. I will spend on what is necessary to provide a comfortable and happy life for my family. In addition to daily expenditure, I always set aside more than ample money for my parents and my children's future. I believe in saving at least half of my pay. I would even spend less on food in order to achieve my savings target.

Q: How much do you charge to your credit cards every month?

I have four credit cards and I pay my credit card bills in full every month without fail. My total monthly credit card expenditure usually does not exceed $5,000. I withdraw about $500 a week for daily expenses.

Q: What financial planning have you done for yourself?

I have four life insurance policies that provide a total life cover of $4.5 million, as well as other insurance plans that cover accidents and hospitalisation. This is to ensure that if I suffer any mishap, my family will be well taken care of without any financial burden.

In addition, I have set aside 35 per cent of my net wealth in cash for emergency use. This amount can last my family and me for at least 15 years in the event that I am unable to work.

My investment portfolio consists of my forex training business JF Lennon, foreign investments and properties that are generating a healthy passive income. Three of my four properties have been fully paid up.

Last but not least, I am in forex trading, which consistently adds to my wealth.

Q: Moneywise, what were your growing-up years like?

I come from an average family of four. I have an older sister. My dad was a bank manager. He believes in working hard and saving 60 per cent of his income to invest in properties and fixed deposits to generate extra passive income. He leads a simple and frugal life. When we were kids, he frequently said 'no' to our pleas for childhood luxuries.

I started to work part-time when I was 14 to earn my allowances, as my dad believed that it was time to start paying for my own expenses. My mum was a designer-cum-tailor. We lived in a one-room flat in Bukit Merah. We moved to an HDB maisonette in Teban Gardens when I was 13. My parents are retired.

Q: How did you get interested in investing?

In 2008, when I was running my F&B (food and beverage) business, I met a patron who was a highly skilled and successful forex trader. He taught me that forex was the most powerful financial instrument available to everyone, from the central banks down to the man in the street.

At first, like most sceptics, I had reservations about his claims. It was only until he showed me his live trading platform that I was blown away by his trading results and the returns on his capital. It was like nothing that I had ever seen or heard of before. From then on, he became my mentor.

Q: What property do you own?

A three-bedroom 1,270 sq ft condominium in West Coast Park that I bought for $1.1 million in 2009. It is currently worth more than $1.5 million.

Between late 2007 and early 2008, I bought three properties in Australia under my parents' names. The two properties in Melbourne comprise one double-storey townhouse and one three-bedroom apartment, each costing about A$800,000 (S$1 million). The two-bedroom apartment in Perth cost A$500,000. Since then, property prices have dipped. The current net rental yields are about 5 per cent annually. These three Australian properties are fully paid up.

Q: What's the most extravagant thing you have bought?

I bought my Harley-Davidson Road King for $43,000 in 2009 and imported accessories from the United States. After additional modifications, the bill came up to $68,000. It has always been my dream to own a Harley-Davidson bike since I was young.

Q: What's your retirement plan?

I have been financially independent since I was 33. Being an entrepreneur with a strong zest for teaching, I do not believe in retiring young and I hope to venture into businesses and investments when opportunities arise while continuing my teaching endeavour. My income is generally derived from forex trading, business investments and other sources of passive income.

I plan to travel around the world with my wife when our children are older and independent. On average, I spend about $20,000 monthly, including allowances for my wife and my parents.

Q: Home is now...

My condo in West Coast Park.

Q: I drive...

A red BMW X6 and a red Harley-Davidson Road King.

lorna@sph.com.sg
--------------------------------------------------------------------------------
WORST AND BEST BETS

Q: What has been your worst investment to date?

In 2008, two partners and I invested $1.2 million in a food and beverage business with the intention of opening Singapore's largest outdoor bistro. Unfortunately, the business never saw light.

We put in months of effort, from finding the perfect location at Mount Sophia and renovating the premises, to importing exquisite Balinese furniture. We also trained a management team and a service crew which were meant to cater to what would have been the ultimate chill-out venue in Singapore.

In the end, all our efforts were in vain when we could not obtain a licence to operate. We later found out that the plot of land was under state conservation and not authorised for F&B operations.

Q: And your best?

Forex is often assumed to have been my best investment, but actually, it was my previous F&B business, RAV Entertainment at Circular Road. It was set up in 2003 with three other partners with an initial investment of $60,000. At its peak, the average annual turnover of RAV was around $1.6 million to $1.8 million. RAV was renamed Delizioso last year.

Running it for eight years taught me a lot about the art of running a business. It was also a period of character building that shaped me to be the man I am today.

Very importantly, RAV was where I met my mentor who taught me how to earn my wealth from the forex market. It took me a year to master forex trading skills.
Cheers!

Dennis Ng - When You Master Your Finances, You Master Your Destiny

Note: I'm just sharing my personal comments, not giving you investment advice nor stock investment tips.
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Postby daringd » Sun Apr 10, 2011 6:53 pm

Dennis Ng wrote:Q: And your best?

Forex is often assumed to have been my best investment, but actually, it was my previous F&B business, RAV Entertainment at Circular Road. It was set up in 2003 with three other partners with an initial investment of $60,000. At its peak, the average annual turnover of RAV was around $1.6 million to $1.8 million. RAV was renamed Delizioso last year.

Running it for eight years taught me a lot about the art of running a business. It was also a period of character building that shaped me to be the man I am today.

Very importantly, RAV was where I met my mentor who taught me how to earn my wealth from the forex market. It took me a year to master forex trading skills.


Thanks for pointing that out, Dennis! Indeed, what a subtle clue we can pick up if we just pay attention. You have taught me that today through this sharing.
Kind Regards

D.D.
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Postby Dennis Ng » Sun Apr 10, 2011 7:30 pm

daringd wrote:
Dennis Ng wrote:Q: And your best?

Forex is often assumed to have been my best investment, but actually, it was my previous F&B business, RAV Entertainment at Circular Road. It was set up in 2003 with three other partners with an initial investment of $60,000. At its peak, the average annual turnover of RAV was around $1.6 million to $1.8 million. RAV was renamed Delizioso last year.

Running it for eight years taught me a lot about the art of running a business. It was also a period of character building that shaped me to be the man I am today.

Very importantly, RAV was where I met my mentor who taught me how to earn my wealth from the forex market. It took me a year to master forex trading skills.


Thanks for pointing that out, Dennis! Indeed, what a subtle clue we can pick up if we just pay attention. You have taught me that today through this sharing.


Hi daringd,
another fishy thing is this guy only mentioned the Revenue from his F & B business was S$1.6 million to S$1.8 million. No point telling me whether his F & B's revenue is S$1 million or S$10 million, what really matters is the Bottom Line (Net Profit) and Net Profit Margin.

And he did NOT mention a single word about how much money he has made from Forex Trading...sigh...
Cheers!

Dennis Ng - When You Master Your Finances, You Master Your Destiny

Note: I'm just sharing my personal comments, not giving you investment advice nor stock investment tips.
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Postby Starfire » Mon Apr 11, 2011 9:01 pm

It is very clear that he made his $$$ through giving "Forex training". $$$ from those ppl who wants to get rich quick. Of course it is not wrong wanting to get rich quick but you must first understand what you are getting yourself into.
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Postby Dennis Ng » Wed Apr 13, 2011 11:37 pm

the more people we can reach out to attend my seminars, the more people we can help to reach Financial Freedom sooner.

The next Path to Financial Freedom workshop, (Chinese) is on 26 Apr 2011, (English) is on 28 Apr 2011, time 7.30 pm to 10.15 pm, Registration from 7 pm onwards, Venue at Park Mall #13-15.

To register for workshop, your friend need to email his/her name and Mobile Phone number to seminar@MasterYourFinance.com

In next 5 to 10 years' time, it is my opinion that Singapore will likely become Heaven for the Rich,.....I don't think I need to continue the sentence...

The only person that can help us is ourselves to increase our Financial Knowledge by Learning... either through Trial and Error or by learning from someone (such as myself) who have already successfully climbed the "Mount Everest" (reached Financial Freedom). Just using Mount Everest as an analogy.

Personally, I would ONLY learn from people who have Climbed Mount Everest before they have Acquired the Right to guide us to climb Mount Everest.
Don't learn from people who were starting from the bottom of the Mountain yet ask you to pay thousands of dollars to learn from him/her how to climb Mount Everest...becos what he/she taught might lead you to the wrong Path or even falling down the Mountain.

I'm very selective of my "sifus". All my sifus are multi-millionaires and have made Millions in Stocks and Property before I started to learn from them. (I can verify this since many of them are my clients and took Housing Loans through me)

Many seminar speakers out there teaching have NOT become Millionaires themselves when they started teaching. For example, Wendy Kwek was almost bankrupt (she said this herself) before she started Executive Directions with Jerome and started teaching "How to start business with NO money down"...what I'm sharing are FACTS gathered from interviews Wendy granted, information which can be verified.

"From Broke to Owning 53 Properties" this advertisement tagline is untrue. She went from broke (then started conducting Entrepreneurs in Action program) to reach Millionaire, then started conducting seminars on Property. Does she own 53 properties or co-own 53 properties? There is a BIG difference. For instance, I co-own 3 condo units in a condo development which has enbloc potential, but I don't say I own these 3 properties. No money down for properties? Totally NOT true for her graduates (you can verify this yourself), maybe true for her (Why no money down for her? You go figure out).

Some might think I try to speak ill of others, I don't, I only speak the Truth and Information that can be Verified, but I have to share the information since NOT many people BOTHER to do Homework on some of these Seminar Speakers out there. My intention is only Good and Pure.

It's the same reason why last year I warned so many times about the "gold investment" thingy, now 1 of the companies ("The Gold Label") have already gone Bankrupt, but there are other companies using similar Business Model still getting people to "invest" money with them. :cry: I just hope these people don't go crying at the Speakers' Corner in future.

Some may opine that I don't have EQ, I admit I only put CQ as No. 1, CQ stands for Conscience Quotient. I only answer to my Conscience and NOTHING else REALLY matters to me, eg. including what Opinion others might have about me on what I said.
Cheers!

Dennis Ng - When You Master Your Finances, You Master Your Destiny

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Postby Battleship » Sun Jun 05, 2011 12:01 pm

Just read the Sunday Times under investment section on FOREX trading. The article is misleading the public by not stating some of the hard-truths. Although I do agree that big currency movements and volatility in the FOREX market create the opportunity for ones to profit from it, in reality, ONLY the minority retail traders can achieve that. Why?

One reason is because majority of the retail traders focus too much on the strategies, neglecting the Emotion and Money management portions which in my opinion, are FAR more important and harder to manage than strategies.

Another reason is that the Institutional Traders have much more capital that can go deep into the retail traders’ pocket to take money from them. Majority of the retail traders are like sheep, waiting to get slaughtered by the wolves in the FOREX market. To be profitable, you must trade like the Institutional Traders, in opposite direction of those majority retail traders.

Finally, as majority retail traders focus more on strategies which rely mostly on Technical analysis, there is a strong bias against Fundamental analysis. Fundamental and Technical analysis are like your pair of eyes. Do you walk with just one eye open? I think the answer is obvious.

In Singapore, there are a lot of advertisements on FOREX seminars and workshops. In my personal view, most of FOREX courses are mediocre and yet, they are charging retail traders a high price ranging form SGD3K to SGD6K. I think those so-called “FOREX expert” actually make their main income by conducting FOREX courses than trading FOREX themselves.

Assuming a three-four days FOREX course cost about SGD4.5k on average, just by having 30 students to attend the course, the “FOREX expert” could earn a revenue of SGD135K in just three-four days!

Majority of the people are NOT suitable for FOREX trading. But then again, to those minority who earn big bucks from FOREX trading, just a reminder that no matter how much you earn from FOREX, trading can only earn you an income where property and stocks, which Dennis keep emphasizing, earn you a fortune.
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Postby zipink » Sun Jun 05, 2011 2:32 pm

Battleship wrote:One reason is because majority of the retail traders focus too much on the strategies, neglecting the Emotion and Money management portions which in my opinion, are FAR more important and harder to manage than strategies


I agree with the above statement by battleship.

The report encourages new traders to trade using a demo account for a few months before entering a live trade.

While a demo account is useful to test out your strategies and getting used to the system, it doesn't allow you to test your emotions. That's because you are NOT using your money. Without using your own money, it's just like playing the game Monopoly - with no fear.

That's why we often hear people making money using a demo account, but when they trade live, they lose money.
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Postby Dennis Ng » Sun Jun 05, 2011 4:15 pm

Battleship wrote:
In Singapore, there are a lot of advertisements on FOREX seminars and workshops. In my personal view, most of FOREX courses are mediocre and yet, they are charging retail traders a high price ranging form SGD3K to SGD6K. I think those so-called “FOREX expert” actually make their main income by conducting FOREX courses than trading FOREX themselves.

Majority of the people are NOT suitable for FOREX trading. But then again, to those minority who earn big bucks from FOREX trading, just a reminder that no matter how much you earn from FOREX, trading can only earn you an income where property and stocks, which Dennis keep emphasizing, earn you a fortune.


Hi Battleship,
I agree with your comments, especially the above extracted comments from your posting.
Cheers!

Dennis Ng - When You Master Your Finances, You Master Your Destiny

Note: I'm just sharing my personal comments, not giving you investment advice nor stock investment tips.
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Postby Dennis Ng » Sun Jul 31, 2011 4:37 pm

Hi all,

Please read what I highlight and bold about the Real Life Example of Remiser King Peter Lim and what Peter Lim shared about Trading...(please remember he started as a Remiser and made money from commissions from stock trading).

Billionaire Peter Lim did NOT even start a business, most of his billion dollar wealth comes from his investment into Wilmar. The bulk of the wealth of the late Khoo Teck Puat comes from his 10% stake in Standard Chartered Bank, a business he didn't start nor manage. It is simply just buying 1 stock, that's all.


Peter Lim was known as the Remiser King. If even the Remiser King said he didn't make his wealth from Trading. Guess you should know by NOW that all these seminars out there that teach TRADING, be it Option Trading, Stock Trading, Forex Trading is NOT exactly the RIGHT Path to Financial Freedom.


Most of the Rich made their money from investing into stocks and property. The Singapore's Richest 40 list shows this FACT too.

How did Peter Lim become a Billionaire? Through investing, NOT trading. This is what he said about Trading: It's very difficult to make money from trading. Most of the traders, they come, they make money, because they have this gambling instinct. They take the money and spend it. The minute they lose money, they got no money to pay up.
Cheers!

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Postby Dennis Ng » Wed Aug 03, 2011 9:05 am

Guess what? One of my millionaire sifus used to be the Head of Forex Trading in a foreign bank.

For the last 11 years after he left the bank he didn't trade Forex but has made at least additional S$7 million from stocks and property. : )

Not sure how much all these Forex Trading Trainers make from ACTUAL Trading of Forex? haha.
Cheers!

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Note: I'm just sharing my personal comments, not giving you investment advice nor stock investment tips.
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Re: His students said this Forex Trading Trainer is a gamble

Postby findleowong » Wed Aug 29, 2012 4:19 pm

Recently, I just had been told by one of my friend who has taken up their program to trade the EUR/USD which cost more than 4 or 5K.

End of it, he is very disappointed & what they teach in this course, is to use moving average, support and resistance.

I have not really seen their course materials and seen the strategy, therefore I can’t really comment much on it.

Should I happen to meet up with this friend, I will let all of you know once there are any further updates.
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