Posts in category: Darren Yaw Business Tips

Dato Sri Darren Yaw Shares Tips He Learned from GCG Asia

Dato Sri Darren Yaw admires GCG Asia, the top-notch tech company. GCG Asia impressed Dato Sri Darren Yaw immensely, by being a strong organisation and with a healthy culture. Recently, Dato Sri Darren Yaw’s GCG Asia visit with the tech company inspired him to share this article. 

The GCG Asia founder reminded Dato Sri Darren Yaw of his early role models like Bill Gates who were determined to revolutionize the fields they are working within to assist humanity in solving problems no matter how big or small. These entrepreneurs were able to meet the consumers’ needs for connectivity and convenience. In this article, Dato Sri Darren Yaw shares his observations through learning from tech start-up GCG Asia. 

Young people nowadays have numerous free tools to assist them in becoming entrepreneurs but before they start building out their ideas and sinking money into those ideas, there are important points that should be taken into consideration before the start. Here are Dato Sri Darren Yaw’s GCG Asia top tips for future tech entrepreneurs to consider before taking the plunge. 

Here Are Dato Sri Darren Yaw’s GCG Asia Top Tips

1. Deeply understand your ultimate goal

Dato Sri Darren Yaw’s GCG Asia Tips begins with this because to stress how important it is! GCG Asia founders understood this according to Dato Sri Darren Yaw. “Before starting as an entrepreneur, one should know what challenges currently exist that need to be solved, so you can plug a gap in the market or serve a public need. After deciding on your ultimate goal as a tech entrepreneur you will need to analyse the parameters of product or service. That means doing an environmental analysis of the economic, social, political, competition in the country of your start-up, analysing consumer behaviour, and growth ability. Before Darway Corp ventured into Singapore, I made sure I had a clear goal in mind. Before you start your business, you need to have a strategy or a business model that shows you the possibilities available to accomplish your targets. This arrangement is significant for getting financial backers or shareholders, just as estimating how fruitful your business is. Understanding your goal, as well as its challenges, will be a great first step towards becoming a successful entrepreneur,” said Dato Sri Darren Yaw.

2. Your target audience

Dato Sri Darren Yaw’s GCG Asia Tip #2 is important. Remember that you cannot target the whole population. Especially as a start-up you need to be more mindful of which segment of the market you will be exactly targeting. The market segment refers to age, gender, income level, geographical location, race, and culture. Before starting your journey to success, identifying your target audience will help refine your process. After identifying the problem they want to solve entrepreneurs need to put themselves in the target audience’s shoes by empathizing with the people’s needs. If you have a clearly defined target market like GCG Asia, Dato Sri Darren Yaw believes everything will follow in step, from product development right on to sales and marketing. Darren Yaw’s Darway Corp team in Singapore and Malaysia are always focused on this before embarking on any new service. 

3. Team up and always network

Dato Sri Darren Yaw’s GCG Asia Tip #3 is network and teamwork. The GCG Asia observation impressed on Dato Sri Darren Yaw that meeting others that may have the experience and knowledge you can use in your business is important. “There are many upsides to widening your network: you may discover possible shareholders or contacts who can support your venture once you start, sending new clients your way. The sort of group you ought to work with as an entrepreneur is one where you’re never the most brilliant individual in the room. This can sound contradictory to what many individuals expect when they start a new business venture. But since my wife Judie Yaw and I brought this advice to me to always surround myself with people who are smarter with skills that you lack, I have never looked back. You ought to consistently search out specialists to help you move your venture along to your goals,” said Dato Sri Darren Yaw on GCG Asia. 

Dato Sri Darren Yaw’s GCG Asia Tip #3 reminds people that a team effort is what gets you to your goal. But at the end of the day culture of motivation, and pushing the team to unlock their potential teaches you to be a leader as well as building a healthy culture that pushes you to innovate and create.

4. Accepting failure

Dato Sri Darren Yaw’s GCG Asia Tip #4 is a fact that failure is an unavoidable truth in life and trying to run away from failure will not help you grow and learn from your mistakes. “Looking back at my past as a young Darren Yaw, I did not expect to reach such heights. I certainly never expected to be any kind of success in Singapore. While many of today’s entrepreneurs have failed before, they never gave up. Bill Gates for example failed in the first company he started but persevered and became one of the richest men in modern history. That is why failure can be a blessing in disguise. When an entrepreneur fails, they come out of the other side gaining more knowledge and this is an opportunity to fix the mistakes made,” said Dato Sri Darren Yaw. Dato Sri Darren Yaw’s GCG Asia Tip #4 also stress the fact that your first failure will not be your last. But remember not to let it leave a permanent mark on you. Shake it off, examine the reason for failure and move on along your road to success.

5. Finding investors and selling your idea

Dato Sri Darren Yaw’s GCG Asia Tip #5 is finding investors. It wouldn’t be a complete list of entrepreneurship tips unless we talk about funding. You need to succeed at convincing possible investors in your idea when pitching. That is why there’s a certain art to pitching ideas. A billion-dollar idea like how I put to become GCG Asia Dato Sri Darren Yaw would never see the light if not pitched in the proper form. As an entrepreneur, you need to be hungry enough to convince the investors that your idea is the best idea in the market and find out what makes your product unique by differentiating it from other competitors in the same field. This will help you to get investors to consider your idea. 

Dato Sri Darren Yaw’s GCG Asia Tip #5 reminds entrepreneurs that reaching out to those investors is easily done if your team or network are connected. Thankfully nowadays the internet is offering a wide range of different tools that can be used for start-ups, such as Kickstarter which helps people fundraise capital.

6. Passion, Passion, Passion

Dato Sri Darren Yaw’s GCG Asia Tip #6 is about passion. “When I was starting out as a young entrepreneur in Malaysia, one of my very first inspirations came from my business professor, who stressed the term ‘passion’ when it comes to business. I was told that the fuel for keeping ongoing and persevering through all the hardships faced along the way came from the passion you have towards your creative ideas. If you take a deep look at every entrepreneur, you can see that they love what they do despite all their previous failures,” said Dato Sri Darren Yaw about GCG Asia. 

“As a young kid, I knew that one day I wanted to become a successful businessman. To get a successful foothold in Malaysia and Singapore, I had my passion for my work and my business to carry me through. I always had that passion. For you to be a successful entrepreneur, you need to be equipped not only with the skills and knowledge, but also with the tenacity, confidence, and motivation to persevere in today’s world. In other words, passion,” Dato Sri Darren Yaw about GCG Asia. 

Dato Sri Darren Yaw’s GCG Asia Tip #6 says that purpose fuels passion. If you manage to turn that passion into a profession then you have unlocked your recipe for success and happiness. Keep your eyes on the goal and never stop fighting for your dreams!

7. Competition isn’t bad

Dato Sri Darren Yaw’s GCG Asia Tip #7 is to welcome competition. One might think that competition as being is the worst of enemies in business. GCG Asia welcomes competition, Dato Sri Darren Yaw said. “Competition can help you learn more about yourself,” said Dato Sri Darren Yaw about GCG Asia. Meaning, that it gives you a wider vision of the market you are both operating in while at the same time keeping a healthy competitive vibe spirit within you. In sport, having a rival can drive you forward. It’s the same in business. 

Dato Sri Darren Yaw’s GCG Asia Tip #7 says by observing your competition, you will be able to differentiate yourself from others and not be a copycat. Customers want a stand service or product and being differentiated will be your competitive advantage.

At the same time do not underestimate your competitor. Powerful competitors can be ruthless and resort to unethical means to crush you. But as a young start-up, your ability to react fast and nimbly is your advantage. 

“Some competitors, however, can be friendly and will be a useful sounding board to exchange experiences like the ones I saw at GCG Asia,” Dato Sri Darren Yaw said. But always remember to stay ethical and hold true to your principles. Never stoop too low and sabotage your integrity for a few bucks. Bad blood can go a long way and end up ruining you. Compete in a healthy way. 

Finally, entrepreneurs need to have a ton of steadiness and self-motivation. You can be a dreamer and fantasize about reaching the stars. But your feet should be firmly on the ground. Commitment is needed to achieve anything. You will face many days of frustrations, dull days even. But enjoy the grind! After all, nothing comes easy and in time, success will be yours. 

That is all from Dato Sri Darren Yaw’s GCG Asia Top Tips article. If you want more tips and insights like this visit the official website for the latest Dato Sri Darren Yaw news. 

As part of his mission to share as much of his experiences and knowledge as possible, Darren Yaw kicked off his Darren Yaw Phnom Penh webinar, a series of online dialogues with young entrepreneurs in the Cambodian capital. Streaming from his home base in Kuala Lumpur, Malaysia the Darren Yaw Phnom Penh webinar engaged with more than 100 management and finance students in Phnom Penh.

The Darren Yaw Phnom Penh webinar focused on inspiring students to achieve their financial goals by building a positive mindset that revolves around the art of business investment. To keep things interesting, the Darren Yaw Phnom Penh webinar was enhanced with videos ala a Ted Talk style format, showing key points of his life experiences.

Darren Yaw Phnom Penh Webinar Highlights

The Darren Yaw Phnom Penh webinar began with stories of his childhood hustle, demonstrating his early interest in business. He shared an inspirational story of when he was only seven years old living at home in Malaysia with no air-conditioning. He used to spot people all around the neighbourhood trying to cool themselves off. He thought to himself maybe he could sell them soft drinks, so he went around to a few small gas stations around and asked the owners if he can help them deliver soft drinks around his neighbourhood. Soon Darren Yaw was delivering soft drinks on his bicycle to everyone in his neighbourhood. In time he started delivering other necessities as well, such as milk and bread. He said that’s when he first felt the thrill of running your own business. Ever since then he was hooked on generating his own income.

Skip to Darren Yaw in Singapore as an older aspiring entrepreneur, where he told the story of how he started up with no capital. All he had was his hunger to hustle and his courage to take risks and enter new ventures. He recalled that he had to work with people who didn’t necessarily share the same life principles or views, and worked on jobs and tasks that didn’t fit with his passion and dreams. But he learned to see these as stepping stones, not obstacles. “It’s not about doing what you love, it’s about doing whatever it takes until you reach a point where you can finally start doing what you love,” he said.

The Darren Yaw Phnom Penh webinar then shifted the student’s perspective into understanding how we all have problems but that shouldn’t be an obstacle. “Everyone has problems! You’ve had problems all your life. It’s about time you realise problems are never going to go away. It’s something to simply live with, and to not let it stop you from chasing your goals. The world doesn’t belong to the pessimist!” he exclaimed.
He also discussed how important networking and constantly learning new skills to level up is essential to his success. He mentioned some of his tips on how every individual can gain the right skills in order to start taking control of their financial future by creating different streams of income.

Darren Yaw’s Phnom Penh webinar also highlighted the best ways to get a headstart is to start investing as early as possible. Investing early is one of the main keys in all investments, with the ultimate goal of generating income without having to rely on employment.

How Darren Yaw’s Wife Judie Inspired Him to Greater Heights

The Darren Yaw Phnom Penh webinar then proceeded to show that his wife Judie has been a major inspiration. He informed the students of his favourite piece of advice of hers. She once told him: “Surround yourself with people better than you, hire associates whose behaviour, skill and attitude is better than yours and you’ll level up in that direction.” He claimed that this one advice from her was a turning point in his life.

The Darren Yaw Phnom Penh webinar continued with him explaining that once he started applying it, he noticed a major change in himself. When he started associating himself with people who inspired him to be better and do better, his mindset changed for the better and expanded to new horizons. This pushed him and his work and business to new heights. “Find someone like my wife Judie Yaw who will push you, inspire you and will back you up no matter what. I guarantee you, your life will dramatically improve.”

Darren Yaw Phnom Penh Webinar Q&A Session Highlights

Darren spoke about how he enjoyed spending his spare time reading books about investments, studying and comparing different strategies. “My favourite activity was to study other people’s failures. It helped me know what exactly to avoid!” he said. “Learning from other people’s mistakes is essential. People usually underestimate how much they can learn from others,” Darren added.

He also noted how from his experience of meeting a number of different individuals all around the world, the one aspect he noticed that separates successful people from unsuccessful ones is that the truly successful ones say no to almost everything! “That’s because they are focused on their own personal journey. They don’t welcome distractions. They critically analyse each opportunity before investing. Successful people take chances but only smart studied chances. They are driven by thoughts not their personal emotions or people’s opinions,” he concluded.

Darren Yaw Phnom Penh Webinar Gets Positive Response

Some of the students who attended Darren Yaw’s motivational speech shared with us their testimonies. Many of them said that they learned something valuable and the experience exceeded their expectations. They appreciated that someone as successful in business was willing to share their time and knowledge with them, and how it fuelled them to strive harder in their studies.

Lee Chai Wei, 4th year business administration student
“I felt truly inspired after listening to Darren Yaw. I’m beyond grateful for attending this speech, the Darren Yaw Phnom Penh webinar is not just a great investor, he’s a natural speaker! He had my full undivided attention from the beginning to the end. All the advice he shared with us is highly valuable. I personally enjoyed how he shared personal stories with all of us. Totally unfiltered! In my opinion it takes a lot of courage and confidence to share aspects of your personal life. I admire his achievements. This talk is definitely one of the most memorable events in my student life. My perspective of finance and investment is completely altered for the better!”

Kumari Raj, 2nd year business administration student
“I’m deeply touched by this good natured, bright man! What an inspiration. He amazed me with the vast amount of experience he has acquired so far. He is wise and humble, someone whom we can all look up to! I related a lot with his childhood story as I sold comic books when I was in elementary school, and I too felt the thrill of generating your own income at such a young age,
and just like Darren Yaw I was completely hooked! Darren Yaw Phnom Penh webinar series was an inspiration.”

Karthik Patel, 3rd year accounting student
“This Darren Yaw Phnom Penh webinar was by far my favourite motivational talk. It was so interesting to listen to, I enjoyed every minute of it! has a lot of insights and we can all learn from his experiences. When he said, “My favourite activity was to study other people’s failures, it helped me know what exactly to avoid”, I resonated a lot with this, as I’ve always been the kind of person who listens to other people’s experiences so I can learn the lesson behind it. His whole speech was a powerful message for aspiring young entrepreneurs!”

Adam Lee, 1st year finance student
“Darren Yaw Phnom Penh webinar was honest, motivating and entertaining. He was very engaging, sharing many brilliant stories. I personally was so amazed by his speaking skills! His stage presence is powerful and energetic. A common point made in all his stories was that resilience and consistency is the key to success. It was an honour to attend and to listen to, and to absorb all that knowledge he shared!

Muhamad Rosli, 4th year finance student
“Darren Yaw Phnom Penh webinar is one of the best access to an investor’s mindset. It was a great opportunity and pleasure to join this webinar! I want to tell all my friends and family members about all the great insight I got from it. Darren Yaw Phnom Penh webinar is a valuable experience. Darren is someone who wants to make a difference in this world. He is very kind to share his stories, his advice and his knowledge in this Darren Yaw Phnom Penh webinar. He was entertaining too, and I enjoyed every minute of his talk.”

Darren Yaw Phnom Penh webinar series to business and finance majors left a huge impact on all the students. Positive feedback from a number of the students showed that the students left the experience full of ambition to succeed in their studies and beyond. A number of them said they were also inspired to start investing.

Darren Yaw Phnom Penh webinar series plays an important role in a student’s future. Having real life examples and tips shared with them from successful investors can inspire and help them believe in themselves and give them the courage they need to dream further and expand their goals.

As someone who values giving back to the community around him and empowering the youth, Darren genuinely enjoys giving motivational speeches to youth. He says, “I love to share my personal experiences with youth through the Darren Yaw Phnom Penh webinar, as they are always so eager to learn! I hope I can motivate more youngsters out there to dare to believe in themselves, dream big and to continue to chase their dreams no matter what obstacles they encounter in life!”

The Darren Yaw Phnom Penh webinar is scheduled to continue with a second talk in September. Visit this website for more updates.

Darren Yaw and his wife’s beloved rural Cambodian orphanage

Although Kuala Lumpur is where I was born, where my childhood memories linger in every blade of grass, where my loved ones and I reside, where my favourite Wantan Mee restaurant is, Cambodia feels like home away from home for me. I absolutely love this country. I love the culture, the language, the food, and most of all I love the people. The people are beautiful and kind. They treat every individual as their own and that is amazing to see. That said, Judie and I frequently visited Cambodia–before the pandemic at least–be it for our anniversary celebration or for a holiday trip. One trip however, changed our perspective. That trip was the spark that fuelled our passion to do more for the children in Cambodia. I’ll let my wife Judie Yaw tell you more, because she tells it better than I can –Darren Yaw

How it All Started

The first time Darren and I first visited the province of Kampung Thom, Cambodia, several years ago, we were greeted very warmly. The community there was very receptive of our stay. The Cambodians there provided us with their local delicacies and offered us a place to stay at their most comfortable living quarters. Darren and I were very grateful towards the people living there. It was truly a great experience to be in their presence. We stayed there for about 3 days before we decided to take an adventurous trip exploring deeper into the village.
As we explored further into the province, we were struck to find that there lived a community of less than fortunate villagers. It was sad to see these villagers in such a state and in poor living conditions. Electricity barely reached some parts of the village, and the water didn’t seem clean. Darren and I were heartbroken to have witnessed this. The country that we loved so much had such a dark unraveling. It almost left me in tears. A little orphan boy came up to us asking us if we had small change to spare and I couldn’t take it anymore. For the rest of the trip I couldn’t shake off that feeling. Even after we left the village and went back into the city, I could still hear the boy’s cry from a distance.
At that moment, Darren and I swore to come back and help these people. We wanted to improve their living conditions. It lit a fire within us and each day that passed by where we were not in Cambodia, the fire grew stronger. Everyone who has worked or has met Darren, knows that he is a very dedicated man. But deep down, he is also very compassionate and selfless. He is devoted to helping the less fortunate in any way he can.

GCG’s YawR Home: The Planning

Two months later Darren and I were back in Cambodia, within the rural community of Kampung Thom, where we first saw these children. When we first started thinking about how we were going to help, Darren reached out to local contacts in Cambodia and quickly got a support team in place who were as eager as us to help. They came from diverse backgrounds in business, finance, construction, tech, some Cambodian, some foreign like us, but who had lived and worked in Cambodia for years and loved it as much as we did.
Together, we started actively plotting out what we needed to do. The goal was to build a better home for the orphans. But in order to do this, we realised that basic amenities such as a small community hall, and things like improving the roads, and access to electricity and drinking water would also be needed. There were many meetings and consultations with the village people. Our local Cambodian friends were instrumental in helping us communicate effectively. It needed to be a two-way process whereby it all started with what the villagers actually wanted instead of us outsiders imposing upon them what we thought was needed.
After initial planning, we needed to gather resources to begin building. We needed quite abit of funds, but thanks to our network, it didn’t take that long. Enter my close comrades at Greater Calm Group (GCG), our mental health network that we have been a part of for awhile. GCG can mobilise at the drop of a hat. I made one call to GCG Chief and my good friend Charlie Chew, and within a week, we had almost the full amount of what we needed. GCG really came through on the fund-raising. So much so that we decided to honour them by adding GCG to the name of the orphanage as official sponsors.

GCG’s Yawr Home: The Process

Construction was underway as soon as all the resources were available. It was difficult, but we managed to coordinate everything between where we lived in Kuala Lumpur and Cambodia. We wouldn’t have been able to do this without our strong local support team.
On Day 1 of construction of GCG’s YawR Home, we made sure we flew in to help. We had materials transported from the provinces nearby and the nearby townspeople volunteered to help with the construction. Our friends from GCG, and Charlie himself came along. We had gathered a small army consisting of friends, villagers and volunteers. I still remember that first day. I was nervous but excited.

Throughout the months-long process of building GCG YawR Home we got really close with the community. We flew back and forth between Kuala Lumpur and Cambodia, and stayed for about a week at a time. We tried to spend as much time as possible to oversee progress.
It was astounding to see such teamwork and the strong emotional connection that was being built together. We really bonded with the people in Cambodia. We would all gather around to eat lunch and dinner together. The children and young teens would teach Darren and me to play petanque, one of the popular sports brought in by the French when they colonised Cambodia. Darren would often play with the children in the afternoon when construction was slowing down for the day. We don’t have children of our own but seeing Darren with these children, happily laughing and playing together, I think I cried a little.

The children were playful and mischievous at times but were sweet at heart. I would occasionally bring them to the town area where I would buy them toys and little snacks to bring back to the village. They would show me around the area and bring me to their favourite hidden spots in the beautiful Cambodian hinterlands. In order to preserve it, I made sure to tell Darren to not disturb their favourite spots.
In about two months, we had completed half of the construction. Darren was very mindful to provide volunteers and the workers of this project with good food, even arranging pizza to be brought in from the nearby town for a small party for them to help increase spirits. Pizza in Cambodia is delicious!

GCG’s Yawr Home: Opening Doors.

After four months of hard work from everyone, GCG Yawr Home was finally opening their doors! We had a small launching party with all the villagers and townspeople. Pizza was not on the menu that night though. We wanted this to be a little more special.
We had a feast that was cooked from the new kitchen area of the orphanage. The hall we all gathered together to eat in was built right in the middle of the village as we wanted a strong sense of relationship building amongst the townspeople and the villagers. It was an unforgettable experience. The look on the children’s faces when we presented their new home was genuinely heartwarming. I cried as they embraced Darren and me. Even GCG’s Chief Charlie teared up. I couldn’t hold back my tears as they all cried in gratitude. Darren was no different, I could see him wiping his eyes. Everyone was crying. But at that moment, I could see it–I could see the disconnection in his eyes. He was unsatisfied with the work he gave, a little part of him wanted to give even more. He who had worked tirelessly was displeased with the work he had done for these people.
We stayed for a few more days to help accommodate the children into their new homes. They took to their new accommodation like ducks to water. There was still much to do in the area, like improving the roads even more, and hooking up better electricity generators to the the village for a more stable supply of electricity. We’re still working on that part, with the help of our local friends, of course.

This experience inspired us to want to do more in other parts of Cambodia. Darren and I talked about how there were still many areas in Cambodia with the same situation. Though it was hard to leave the village, it was also reassuring to know that we gave what we possibly could to these villagers. When we said our goodbyes, I couldn’t help myself from stealing one more hug from these children. As we left the village, I could still hear a distant cry from the children. But unlike before, these were cries of happiness. We can’t wait to visit again.
A heartfelt thanks for GCG’s unfailing support without which none of this would’ve been possible.

Darren Yaw’s guide to Forex Trading.

Do you want to do forex trading for earning profit but don’t know much about it? Forex is a very high-risk investment, and so not many can succeed in the forex world. Darren Yaw and his wife dabble in forex trading and have had some success in it.

This article will give you a complete guide on getting started with forex from Darren Yaw himself and his wife!

What is the forex marketplace, and how does it work?

If you have been confused about the word forex so far, it is nothing but a derived word from foreign and exchange. Currencies are a standard in international business and so are exchanged in order to gain profit through foreign trade and business.

According to Darren Yaw, it is also a popular way of investing for private citizens. It is very similar to the stock market, but you exchange currencies instead of buying a slice of the company.

One thing that is really unique about forex trading is the fact that there is no central market. So, all the transactions are conducted via computer networks from all around the world. It is also open to traders 24 hours a day as it starts at 6 am Sydney time and ends on Friday at 5 pm New York Time.

A starter guide on how to trade forex by Darren Yaw.

Trading forex isn’t as easy as it sounds because one wrong move and there goes all your money. Let’s take a quick look at the starter guide to forex trading.

1. Choose a currency pair
Darren Yaw states that you’re always exchanging or trading the worth of 1 currency for one more in forex. What it means is you purchase one currency while selling another at an identical time. Meaning you’ll interchange pairs, e.g. RM/USD.

Typically, new traders begin by trading the major commonly offered pairs of major currencies – but there are no restrictions.

2. Analyse the market
Darren Yaw says that forex trading is pretty much like stock trading. You may have to research and do an intensive analysis of the market – two tactics that compose the inspiration of trading. Remember that operating on emotion will never end well.

He recommends avoiding feeling overwhelmed by all the various currencies – because there’s plenty, narrow your research on a selected currency pair, and gather valuable resources for the 2. Regularly examine current and historical forex trading charts, and monitor the news for economic announcements, further performing other technical and fundamental analyses.

3. Understand the quote
Since you may trade a pair of currencies, you’ll notice two prices for every currency. The difference between the primary and, therefore, the run of the mill is termed the spread. That difference is the amount that a dealer charges for creating the trade. However, spreads vary in line with dealers.

4. Choose your position – buy or sell?
It is very important to know about buying or selling positions. A buy position means you think that the worth of the bottom currency will rise compared to the quote currency. If you’re buying Malaysian Ringgit /Singapore dollar, you expect the Ringgit’s value to strengthen against the dollar.

A sell position means you think that the worth of the bottom currency will fall compared to the quote currency. If you’re selling Malaysia ringgit / Singapore dollar, you expect the Ringgit’s value will weaken against the dollar.

Let me give you an example:

A buying position
The current price for MYR/USD is 1.3555/560. you suspect that the Ringgit is bullish, so you enter a buy position for one lot or one unit of the MYR/USD. Your trade is priced at 1.3555. Later within the day, the MYR/USD is now at 1.3888/180. Your trade has gained 333 pips, and you decide to shut your position at the current sell price of 1.3888 and make a profit.

A selling position
Let’s say the Ringgit is bearish, and you choose to enter a sell position for one lot or one unit of MYR/USD. Because you’re selling, your trade is priced at 1.3555/560.
Later within the day, the EUR/USD is now at 1.3888/180. Your trade has lost 333 pips. You close up your position at this buy price of 1.3555 and accept your losses.

Ways to avoid losing money in forex
As many start forex without acquiring much knowledge about it, they usually end up losing a lot of money. Darren Yaw said that as there are traders of all levels in this platform, it is easy to lose money if not properly managed.

Here are some tips by Darren Yaw to avoid losing money when forex trading:

Get a reputable broker
The forex industry is known to have much less oversight than any other market. So, Darren Yaw recommends doing your homework and appearance for a reputable broker in order to avoid losing money in interchange.

A practice account is a must
A practice account is a must as it allows the trader to adapt to the techniques and will have less probability of losing money. He recommends using a practice account before you go through life and make sure to stay analysis techniques to a minimum so as for them to be effective.

Keep charts clean
It might be pretty tempting to use all the technical analysis tools offered by the forex trading platform when you first open an account. But it’s up to you to keep control and keep the analysis techniques to the very minimum in order for them to be effective.

Protect your trading account
Your focus might be totally on making money in forex trading, but it is essential to know how to avoid losing money. So, proper money management techniques are a must of this process, and so you should keep an eye out for that as well.

Forex trading can be pretty intimidating, especially if you don’t know much about it and so knowing the basics right is a must. Follow this starters guide by Darren Yaw so that you can trade forex and do it successfully.

Image Source: economytraveller.com

Darren Yaw has had plenty of business role models he attributes to his success. As an entrepreneur, Darren has invested in businesses all around South East Asia—including Malaysia, Thailand, Cambodia, and Thailand. Being an entrepreneur is not an easy path to take. Just like any other businesses, there are still many challenges and risks involved. There are stakes, and failures that will inevitably come into play throughout their career. Entrepreneurship is a profession that requires a lot of tough decision-making as well as strategizing efficient business plans. 

But what happens when an entrepreneur finds himself or herself in a situation where certain decisions may be too big for him or her? Who does he or she look to for advice? Entrepreneurs are business persons by default, but they are still human beings who still face everyday problems you and I go through. In many cases, entrepreneurs have their own dedicated team of analysts. However, in some situations, entrepreneurs have to make hard decisions by themselves. That said, it isn’t uncommon for them to have role models of their own. These role models could be influential people, or influential stories, that help guide and inspire others to forge their path onto. Who is better to teach us of a certain situation than the people who have gone through it themselves? 

Darren Yaw credits most of his successful decision making towards the role models. Every business person should have their own business role model. This will indeed help inspire and guide start-up companies into a more fruitful pathway. Here is a list of his top business role models. 

1. Dato Jimmy Choo

Dato Jimmy Choo is no stranger to fashion lovers. To those who don’t know, this world renowned shoe designer was born from humble roots in Penang, Malaysia, to a cobbler, and when he was eleven, he created his first pair of shoes. In 1983, Dato Jimmy Choo earned his bachelor’s degree from the London College of Fashion (also known as London College of Fashion). When he was three years older, he opened his Hackney shoe store. Dato Jimmy Choo was still a small operation even after increasing in popularity, making only 20 handmade pairs of shoes each week. But Vogue accessories editor Tamara Yeardye Mellon realised there was a larger market for Dato Jimmy Choo’s shoes. She went to the shoemaker and approached him about starting a line of ready-to-wear footwear together. And the rest is history.
From then on, Dato Jimmy Choo shoes have become the most expensive and coveted footwear of the rich and famous. No matter who you are, whether you are a celebrity or a member of royalty, people from all walks of life want a pair of Jimmy Choos. Princess Diana was one of his loyal customers even after her death. There is no Malaysian competitor to Dato Jimmy Choo in the fashion world. In recognition, the British government awarded Dato Jimmy Choo Order of the British Empire (OBE) in recognition of his contributions to the fashion and shoe industries.
I admire his work ethic. He is famously hard working. He built his shoe empire from nothing. Dato Jimmy started small and slowly built his business. Like him, I also believe that you must be strong in your fundamentals. In one interview Dato Jimmy Choo said, “Everything comes from the basics. If your basics are good, when the difficult part comes, you can handle it yourself,” he said.
I also agree with Dato Jimmy’s emphasis on having a strong mindset. “Take care of yourself and your health. Be sincere, be nice to yourself, ”he has said. I firmly agree.

2. Warren Buffet

I often sought inspiration for my business enterprises by reading stories from Warren Buffett, the legendary investor, perhaps the most legendary investor of all time. Previously one of the world’s richest men, he fits into what people say he is. A business lover, a numbers guy. A man who, during his childhood, would always read annual reports and stock prices of companies through the newspapers. His first business venture started when he was a young boy. He would go around selling Coca-Cola, chewing gum, and weekly magazines door-to-door in his neighborhood. It’s no wonder where he is where he is today. The man has been dedicated towards the art of business ever since he read the book A Thousand Ways to Get $1000 by Frances Minaker from his local library when he was younger. Even at the age of 90, he still reads the newspapers every day. Five newspapers in fact, one of which the Omaha World Herald is owned by his company.

3. Lee Kuan Yew

The man behind Singapore’s rise towards growing into a first world country all in under one generation. As extraordinary as it sounds, I am still looking into Lee Kuan Yew’s life for personal and financial advice. The only political figure in my list, Lee Kuan Yew has served as Singapore’s founding father ever since gaining independence from the British in 1963 and again in 1965 when Singapore exited Malaysia. He only wanted what was best for his country and his people. And I can relate with his vision. I’d like to think of my company as how Lee Kuan Yew viewed Singapore–a small venture that has enormous potential. An opportunity to make a mark in history books. His autobiography is a very interesting read too, I would highly recommend it.

4. Tim Cook

The successor to the great visionary Steve Jobs, the current CEO of Apple, Tim Cook. Tim Cook has a distinct leadership style that I try to follow. Every morning he will send emails to his staff regarding the task of the week at 4:30am. He would also have Sunday-night calls with his team so that the work flow of the following week is discussed. It wasn’t an easy transition, taking the torch of one of the world’s most innovative icons at one of the world’s biggest companies. But Apple Inc. has been flourishing since Cook’s take over. He has implemented different styles into the business flow, catering towards a more environmentally sustainable system. I tend to follow his philanthropy as well.

5. Matilda Yaw

Without a doubt, the light at the end of a dark tunnel, the rainbow after every rainstorm, the cherry on top of my ice-cream sundae—my dearest mother, Matilda Yaw. I think she deserves a dato-ship for her contributions. If I could, I would give her a dato-ship myself. The woman who is responsible for my character, my thoughts and my sounding board. I talk to her when I am sad, when I am happy, and when I feel like the world is against me. My mother is there backing me up with every choice that I make. She never pressured me to do anything but she instilled in me a sense of being myself. She once told me: “You have to take pride in your work. Be the best Darren Yaw you can be. If you wash cars for a living, be the best car washer you can be. If you sweep roads, be the best road sweeper. Remember there’s only one Darren Yaw, so you be you.”
I save her number on my phone as “Big Boss”: the only boss I will listen to. She is the definition of courage and grace. She is intelligent and witty. She can host a meeting while still lecturing me about the importance of time. It’s annoying, but she is always right.
When my father passed away, it was very hard for me. I did not take it well because he was my hero. I did not just lose a father figure, I also lost a personal role model. But with every door closing, a new door opens up. My mother took charge and helped me cope with the loss. We suffered together. To her, she lost the love of her life. It was harder for her, and yet she was in complete composure. To this day, if my tight schedule allows, I always try to eat dinner with her whenever possible. We will go out together with my wife Judie to eat and talk for hours. I will occasionally call her for words of encouragement or when I need advice. She is my one and only Boss.

Final Thoughts

A role model is someone you look up to. Someone who inspires you when you are facing tough challenges. In the midst of hard situations I would find myself asking the question “What would Dato Jimmy do?” or “How will Lee Kuan Yew overcome this problem?” Sometimes, I think the best way for us to have a broader perspective of a subject is through the lens of someone else. Someone who has vast experience in the field and is able to critically think of the best outcome, but more importantly someone who has been through the problem himself or herself and knows what to do when facing tough circumstances. Finding a right role model is the first step into your business career or your personal life. What do you want to change about yourself? How much do you want to know about the business? These are initial questions that you should ask yourself before figuring out which role models are best suited for you. Role models can be found in any person you deem inspirational. It matters not how old they are or where they’re from, it matters if you believe that they are an inspiration to you.