Latest news with #trader
Malay Mail
2 days ago
- Malay Mail
Fake IPT solar tender leaves Terengganu trader almost RM1m in the red
KUALA LUMPUR, June 28 — A trader in Terengganu has lost RM932,300 after allegedly falling victim to a scam syndicate involving a fake tender to supply solar power generator equipment to a non-existent of higher learning institution. According to Kosmo!, the 52-year-old man lodged a police report at the Kuala Terengganu District Police Headquarters last night after realising he had been duped. Kuala Terengganu district police chief Assistant Commissioner Azli Mohd Noor said the owner of a construction and supply company was first contacted by a suspect — claiming to be a representative of a state-owned institution — via WhatsApp on May 28. 'The victim was offered what was claimed to be a closed tender to supply and deliver Eco Flow portable power generators to the institution. 'Interested, he sent over his company's details to the suspect,' Azli told Kosmo! today. Azli said the trader subsequently made eight transactions into two bank accounts provided by the suspect, using both company funds and his personal savings. 'He was shocked to discover it was a scam after checking with the institution's management in Kemaman, who confirmed that no such tender had ever existed,' he added. The case is being investigated under Section 420 of the Penal Code for cheating.
Bloomberg
4 days ago
- Business
- Bloomberg
Hedge Fund Magellan Capital's Office Searched by Dubai Regulator
Dubai's financial regulator conducted a search last month at the offices of Magellan Capital Limited, following complaints from a former trader who claimed a senior executive at the hedge fund startup had concealed investment losses and prevented staff from flagging risks. Officials at the Dubai Financial Services Authority went through laptops and company phones as part of the search, according to people familiar with the matter. Some employees were questioned in conference rooms, the people said, declining to be identified as the information is private.
Bloomberg
5 days ago
- Business
- Bloomberg
Goldman Trader Sees Risks Stacking Up for Lower-Quality Stocks
As stocks push toward all-time highs and a fear of missing out on the rally spreads among investors, a senior Goldman Sachs Group Inc. trader warned that there are valid reasons to meet the latest gains with caution. This is especially true of lower-quality parts of the market, where stocks are being driven higher by short sellers forced to cover their positions, rather than by positive corporate fundamentals, Louis Miller, a managing director at Goldman, wrote in a note to clients on Tuesday.
Malay Mail
6 days ago
- Business
- Malay Mail
Johor trader loses RM1.1 million in online job scam promising commissions
JOHOR BAHRU, June 24 — A trader lost RM1.1 million after being deceived by a non-existent online job offer. Johor police chief Datuk M. Kumar said the victim, a man in his 40s, lodged a police report yesterday, claiming that the job was offered on social media on March 26. He said the victim claimed he had to purchase goods, with a commission of 25 per cent from the proceeds of reselling those goods. The victim proceeded to transfer a total of RM1.1 million to 22 different bank accounts from March 28 to June 13 to buy and sell goods to earn a commission. 'However, the victim realised he had been duped when he did not receive any commission as promised,' Kumar said in a statement tonight. The case is being investigated under Section 420 of the Penal Code. — Bernama
Entrepreneur
09-06-2025
- Business
- Entrepreneur
The Rise of Anish Singh Thakur: The Boomingbulls Story
"I never make any scripts. I just go there, use my real-time experience, and then give them the best knowledge and value," said Anish. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. When Anish Singh Thakur first dipped his toes into the volatile waters of cryptocur rency back in 2017, he wasn't thinking about building India's most followed trad ing education platform. Like many others, he was simply a young man swept up in the Bitcoin boom. "We all got excited and we invested in Bitcoin," he recalls. "I made a lot of money... 10 lakh rupees, which is a good amount in India when you're young." At the time, Anish wasn't even trading himself. He had handed his capital to a friend and shared the profits. It was fast, easy money—until it wasn't. "Suddenly a bear cycle came and everything crashed down," he says. "Not everything was lost, but it went downhill." That initial success followed by sharp losses was a crash course in market reality. It also marked the beginning of Anish's transformation from an excited speculator into a system-driven trader and educator with a global vision. Post-crypto, he moved to the Indian stock market. But here too, he ran into trouble. "People were calling, saying, 'Just deposit money, and we will trade for you.' I trusted them, put money in my account, and again, I made profits first, but then they made losses." The cycle repeated, each time more punishing. "Somebody called me again. I deposited a lot of money. I lost everything again," he recounts. Burned and bitter, Anish realized there was only one way for ward; he had to learn to trade himself. And so began the grind. YouTube tutorials, Amazon book hauls, and seminars like Finbridge in Mumbai became his class rooms. He threw himself into learning the craft, all while becoming increasingly disil lusioned by what the market was offering: overpriced, incomplete courses wrapped in slick marketing. "Once you buy their course, then you have to buy one more, then an advanced course, then another." That frustration planted the seeds for Booming Bulls Academy. In 2020, while COVID-19 shut the world down, Anish launched his YouTube channel, armed with clarity of purpose: to teach real trading in a real voice, without gimmicks or endless upsells. "If I learn, maybe one day I'll open a channel," he had thought. "Everyone is just giving small insights on YouTube, not at all helpful." His channel exploded. What set him apart wasn't just his transparency or live trading videos, a rarity in India at the time, but his plainspoken style. "My most important quality is that I talk in a very easy way... especially in Hindi. It's very easy for people to understand." In just over a month, he hit 100,000 subscribers. The Booming Bulls YouTube channel now sits at over 2.6 million followers, and at its peak, the academy was training thousands of students online and hundreds more across 12 physical centers. But as Booming Bulls grew, Anish began to see another opportunity, not in education, but in capital management. His early vision had always been to build a serious trading institution, not just a school. That vision is now, taking shape in Dubai, where he is building a professional trading floor with a seating capacity for 40-50 traders. "Now my vision has changed," he explains. "I am making much more money through trading than my training academy." That might sound like a bold statement, but it's underpinned by years of refinement. Anish's trading style has evolved from chaotic gut calls to precise, system-based strategies. "Now I am more of a system trader," he says. "I created three criteria. If all match, I trade. If not, I do nothing." No more gambling. No FOMO. Just probability, backtesting, and risk control. "In 1,000 trades, we might be profitable in 500, losing in 500. But in the losses, we lose $100. In the win, we make $200-$300." It's a mature, methodical mindset, a far cry from the fast and loose trading that once burned him. The risk is still there, but it's calculated. Rational. Controlled. Anish believes system trading is the future for anyone who wants to be consistently profitable. "Most people fail because they are discretionary traders. They trade based on feeling. Ninety percent of those traders fail." He emphasizes that trading is not a get-rich-quick scheme. "New people think with $1,000 they can make $1 million. This is not the case. You are going to lose money in the beginning. That's your training." For Anish, capital is king. Big returns require big capital. And success requires time. "You give three years for a degree, two years for postgrad. But in trading, people give one month and sk why they're not making money." He also wants young traders to treat trading like a profession. "You will give time to engineering or business degrees. But in trading, nobody wants to give one or two years." He likens early trading losses to tuition fees. You pay with your mistakes, and with every mistake, you either get smarter or get out. It's a crucible, and he's seen many get burned. "People are breaking their SIPs, mutual funds, asking their parents for money. That is very wrong." Today, Booming Bulls is shifting into a new phase. The physical academies are being shut down. "It's not about money," he says. "It's about time and vision. My vision has changed." His focus now is scaling his private trading operation. A new trading floor in Dubai's JBR district is under construction, with dedicated depart ments for algo trading, gold, and risk management. Anish and his team will initially deploy $1 to $2 million of his personal capital in 2025, scaling up to $5 million, then $10 million, and ultimately eyeing $100 million. This shift isn't just financial; it's strategic. With AI and algorithmic trading gaining traction, he sees automation as the key to long-term profitability. "Trading is hard because of emotions," he says. "But if a robot is doing it for you, there are no emotions." His team has already automated several indicator-based strategies, and though price action systems are tougher to code, they're working on that too. "It's simple. The buttons I click to buy or sell—we're automating that." He sees immense promise in removing the human factor. "It will cut the losses when they are small. It will hold your profits until they become big. Simple risk-reward ratio game." Still, Anish isn't abandoning education entirely. The new vision includes free, high-quality content on YouTube aimed at reaching 10 million people. "There are free courses on my channel. Technical strategy, risk management, it's all there." The goal isn't just about views or fame, though he's candid about enjoying both. "Everyone likes to be famous," he admits. But there's more to it. "People want to connect with me. They want to learn from my struggles." The channel remains a key platform for inspiring India's youth, many of whom jump into trading without understanding its complexity. "Don't think it is like gambling or a get-rich-quick scheme," he warns. "Get some capital for experimentation. Learn to generate ROI. Then think about bigger capital." Despite the explosive growth and bold plans, Anish remains clear-eyed about the grind. He admits that no piece of advice could have truly prepared him. "Even if someone gave me the best advice, I wouldn't have listened. All the mistakes I made, they made me who I am." That authenticity—rare in a landscape crowded with polished personas and rented Lamborghinis—may be the core of Booming Bulls' appeal. It's not just about profit. It's about process, discipline, and growth. As he steps into this new chapter, Anish Singh Thakur is ready to rewrite what it means to be a trader in India. "I want my public image to be that of a trader who is trading on YouTube live and promoting education also," he says. That dual identity, as trader and teacher, performer and professional, has carried him this far. But even as he expands operations and starts deploying millions of dollars, some things haven't changed. The foundation is still there: real trades, real results, real talk. In his own words: "I never make any scripts. I just go there, use my real-time experience, and then give them the best knowledge and value." For a world increasingly jaded by hype, that might just be the most valuable strategy of all.
