Tay Jun Hao Roy, 31, is an ex-National Sailor who has represented Singapore and won medals at numerous overseas competitions such as SEA Games, Asian Games 2006 and qualifying Singapore for the Beijing Olympics 2008.
Sporting achievements aside, he’s also an entrepreneur who runs a few businesses (such as his own cafe, Little Diner (you can check his cafe out here), while generating a full-time income through trading the foreign exchange (Forex) market.
He has also ventured into coaching other aspiring Forex traders through his own company Actions To Wealth (ATW) together with his own Forex Mentor, Paul.
I had the pleasant opportunity to interview him over a drink about Forex Trading.
Do tell us about your background and how you started out Forex Trading?
I came from a middle-class background, and back then I used to sail competitively as a career. In fact, I represented Singapore and have even won many awards including the Asian Games Gold Medal.
I used to have a lot of free time off-season when I am not training so I looked into several ways to make extra money without having to look for a regular job like other people.
After many months of researching, I decided to take the leap of faith and decided to focus on Forex.
Why was Forex Trading your preferred choice?
I used to buy US stocks, and if you know, the stock market has certain opening hours. The New York Stock Exchange for example opens about 9.30pm-10.30pm SGT depending on daylight savings, and if someone from Singapore want to buy US stocks, he/she will need to stay up late.
However, the Forex market is open 24 hours every weekday, and I am able to choose when I want to trade. Ever since I started Forex, I didn’t have to stay up too late.
The reason why the Forex market is open 24/5 is an interesting one. I realised that at any one time, there is always a bank somewhere around the world that is open.
And sometimes the opening hours even overlap. As long as people in the bank are working, the Forex market will be running.
How did your decision to start Actions To Wealth come about?
Well, I have been sailing full-time and only trading Forex part-time back then. And it was during 2010 while I was wondering if I should start a new Olympic cycle that I attended one of those seminars on wealth creation.
Something the speaker said struck me, and it was about how to take something you are good and passionate about, and turn it into something powerful to share with people.
After a few years, I started Actions To Wealth with my mentor Paul in 2012, and started out teaching within friends and family.
What are the benefits of Forex Trading compared to other investments?
The primary reason is that I get to choose the time and place I want to trade. Personally, I like to go in other investments too but the time where I can work on that is limited unlike Forex. Since I started, I only needed about 10 mins to look for setups and enter a trade.
Since I am always on the move, this flexibility is of high value to me, and I believe that other people, if busy or moving around and even travelling, can benefit from Forex trading.
All you would need is an internet connection and a laptop, and you are good to go. You can also trade Forex on your smartphone but it’s something I do not advocate.
In fact, I only use it to check my trades now and then but never to enter a position because you need to proper tools to search for the right setup to enter the market.
Why should people learn Forex trading from you?
There are a lot of other Forex training centres out there, and I don’t have any issue if someone else would want to learn there. Just watch out for red flags signalling a scam or mediocre service before deciding on one.
On another note, unlike other Forex training courses, I train all my students with Paul directly in small batches so that everyone can get a more wholesome education. I don’t hire trainers because I believe that learning directly from a mentor is most ideal.
If someone is willing to make a change in their life, and want more than the generic trainer teaching Forex only, we are more than willing to help out with our education. In fact, we are real traders who have traded on live accounts together with our students.
We don’t trade on demo accounts because we believe in what we teach and want to give others assurance that they are together with real traders and mentors.
What are some of the successes of your students?
We have this facebook group all our students get to join once they attend my coaching program, and I have been getting great feedback there. I also have a some students e-mailing me sharing their success trading Forex even since mentored by me or Paul. Like all educational programs, the success has been varied.
I have had this student getting 28% of his capital back in 6 months, a few being able to gain 10% of their capital monthly, and the most successful one was taught personally by Paul… He was able to gain over 200% of his capital last year.
However, I need to stress that I simply cannot foresee how much a student can achieve honestly because how much they want to succeed is up to them. My personal goal is about 25% in a year because I am juggling several things at once, but I believe if you set out to put your mind to achieve more, then that is how you create your own success.