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139: Simple, Easy, And Consistently Profitable Trading Strategy – Yong Chin Hiong

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Simple, Easy, And Consistently Profitable Trading Strategy

In episode 139 of the Desire To Trade Podcast, I interview trader Mr. Yong Chin Hiong based in Singapore.

He’s been trading quite big money and had the idea of starting a school. The goal of his school is to provide people with something they could trade with and something that could be simple, easy, and consistent. Mr. Yong has been able to help aspiring traders and is expanding business into many countries.

In this podcast, Mr. Yong talks about his background, what he’s doing, and shares strategies on trading.

Topics Covered In This Episode

  • How he got introduced to trading in Hong Kong and, what he’s doing now [1:47]
  • Switching to a Phoenix indicator system [5:56]
  • What helped him to see what the big boys do [9:17]
  • What the creator’s process of creating the Phoenix system was [13:30]
  • Succeeding or not with the system [16:31]
  • How to use and work on the system [18:21]
  • High-frequency trading and his trading style [21:53]
  • Training on charts [23:13]
  • Why he’s not trading with an algorithm [25:35]
  • The sample size he looks for in back testing [28:11]
  • Using the system if you’re colorblind [29:15]
  • Placing his stop-loss [30:13]
  • His thoughts on overtrading [31:57]
  • Running a prop trading firm for a couple of years [33:42]
  • The process you’ll go through in his course [34:36]
  • What he recommends in prop trading [35:37]
  • How to not cut your losses too fast if you’re trading for yourself [40:41]
  • Having a trading buddy [41:51]
  • Focusing on the process instead of your wins or losses [42:44]
  • What a reasonable drawdown is and recovering from it [43:21]
  • The worst drawdown he has historically seen [44:45]
  • Other habits that can help him trade better [47:32]
  • Phoenix system “losing months” in the Forex market [48:32]
  • How his system is open to everybody from all parts of the world [49:20]
  • How to decide what to trade [50:35]
  • How to classify a good strategy [52:39]
  • Trading with a 30-minute chart versus a daily chart [53:59]
  • His goals for the future [57:04]
  • His motivation for doing these courses [57:49]
  • His advice for traders to become better [58:50]

Resources Mentioned

Edgewonk promotion

DesireToTRADE Top Resources

How To Find Mr. Yong Chin Hiong?

What is one thing you are going to implement after listening to this podcast episode? Leave a comment below, or join me in the Facebook group!