Top Three The Most Successful Forex Traders Ever
Trading on the Forex market is a thrill! When you make a profit, you feel that you are on the wave. You are smarter than a good half of your competitors who lost money while you earned them. Who are the top world lucky ones who made fortune and loud names thanks to exchange?
Here are these hero brokers and some info about them.
- The world’s best – Soros
Let’s begin our review of guru traders with one of the legendary figures of the industry – George Soros. He is known as one of the greatest investors ever. He earned his reputation as a superstar for a published profit of over £ 1 billion. All this due to his approach to the sale of the pound sterling. He did this on such a prominent day which media described as the Black Wednesday. The calendar data of this event is September 16, 1992.
At that time, Britain’s financial system included the exchange rate mechanism or ERM. It required government intervention if the pound weakened above a certain level in relation to the German mark. Therefore, this trader successfully predicted that the set of events, including the high level of British interest rates and the unfavorable course in which the UK joined the ERM. He made a fortune and became a philanthropist.
- Stanley Druckenmiller
This very experienced broker is proud of the fact that Mr Soros was his mentor. In fact, Druckenmiller had been working with him in one of the funds for more than a decade. But then he decided to play own way and created an independent unit, successfully managing such sums you have never dreamed of: billions of dollars for his own fund of Duquesne Capital.
Now the fund of this expert is estimated at more than 2 billion dollars. For such people it is a must to write books and participate in TV shows as a special guest.
Druckenmiller has his philosophy of getting long-term profits that revolves around such a crucial thing as preserving capital when the auctions are going well. This approach understates the importance of whether you are correct or not.
- Bill Lipschutz
Ironically, this bronze medalist made a profit of hundreds of millions of dollars in the FX department of Salomon Brothers in the 1980s. This is despite the lack of previous experience in dealing with foreign exchange markets!
He is often called the “currency sultan”. Mr Lipschutz perceives hectic waters of Forex as a market with its own psychology. And, like other successful brokers, he believes that it is market analysis that helps forecast prices curves as accurately as possible.
Even the most successful trader once started his journey having nothing. And if you manage to regularly make a profit – you can consider yourself a successful trader. And perhaps you can try to get into the top-list of Forex gurus yourself.