Who are world’s wealthiest forex traders ?
Several of the world’s wealthiest persons have accomplished at least a portion of their outstanding wealth in the sphere of trading. Whether they amassed wealth by speculating or investing in stocks, gold, foreign exchange, or other capital markets, the activities of these high net worth persons in any financial or commodity market can be of substantial relevance to other traders. Consider the following personalities.
Forex Trader; Martin Schwartz
Schwartz is an icon and role model for myriad traders all over the world. It is on record that Schwartz was specially thriving in short-term trading. In two trading years, he had accrued over USD1.2M in profits alone. From a military officer, Martin Schwartz grew to be among flourishing entrepreneurs, concentrating on investing in stock exchange.
Forex Trader; Stanley Druckenmiller
Druckenmiller is a renowned figure in stock market. He is the man who made use of “top-down” trading strategy. It is said that this strategy brought him to the rim light and stood to be counted among successful brokers in America. In most cases he opened exceedingly risky positions but constantly managed to complete them with profitable edge. For many years as a trader, the knowledge and self control Stanley Druckenmiller’s had earned him reputation and wealth.
As a passionate human being, he donates a lot of money to charity with an aim of eradicating poverty through provision of quality education and health care.
He is said to have a net value of around 3.5 billion USD and he continuously emerge in second hundred of Forbes ranking of World’s richest persons.
Forex Trader; George Soros
George Soros achieved international unsavory reputation when, in September of 1992, he risked $10 billion on a single currency speculation when he opened a short position with the British pound. His speculation turned out to be right, and in one day the trade generated a profit of $1 billion. Due to this, he is legendary known as the "the man who broke the Bank of England."
Forex Trader; Alexander Elder
For him, a proficient stock market trader is what would best describe him. In addition, he legendary mentor, expert especially on technical analysis as well as on market psychology. As a matter of fact, he has written a book that contributes immensely on market success. In his book, he describes the market success by making use of three”M”. The first M stands for Mind (being a logical and a disciplined trader), the second M stands for Method (trading strategy while making your market analysis) and the third M stands for Money Management (risk management). It is in record that this book in the year 2002 won “Barron’s Best Book” award. Taking advantage of his medical knowledge, Alexander has contributed significantly on trading psychology. Through this, he argues that a trader’s worst enemy is executing the market due to fear. To solve this he advices that as long as one need to develop a workable trading strategy and be able to obey all the rules of trading such as placing stop loss at all times. This advice is best suited for the new traders.
Forex Trader; Larry Hite
He is regarded by many to as among the founders of contemporary stock exchange trade. He is a legend in the field of trading, and has also contributed hugely in financial publications. His forex trading career begun when he became a stock broker. With time he had gained immense knowledge and pursued in the line of commodities market such as oil, gas and precious metals because he didn’t feel confident enough to work with futures.
Larry Hite took a decade to gather all the essential knowledge and know-how involved in long term financial investments. He has spent substantial amount of time in pursuit of a sound trading strategy that would be consistent with good returns and less risky.
Forex Trader; Jack Schwager
He is an economist and a mathematician has had decades of experiences especially in commodities. Due to his wealth of knowledge and experience in trading commodities, he has written some popular publications such as “Market Wizards”, “New Market Wizards” as well as “Stock Market Wizards”. Market Wizards and New Market Wizards carry content related to investments in Forex trading, commodity as well as stock indexes while New Market Wizards comprising of talks with standard class forex wizards. The interviews are based on the strategies they use. As such it is the most valued publication by average investors.
In all his books, Jack makes a profound effort to encourage the novice traders to surmount most challenges that they come across as beginners. Most of all he encourage them to develop their own trading strategies rather than copying celebrities in financial markets.
The above among many others Jimmy Rogers and Bill Lipschultz have entered in books of history of trading by making profitable trades making them among the wealthiest traders under the sun. You too can be part of the modern history for being among the most profitable traders. They all started small and grew big. No one is exempted from success in forex, everyone who learns this business well too does have a share of the profits. The best place to start is to make sure you have an a real forex account and then follow that with a comprehensive training. You can apply for a free account here, Free Forex Account with Free trading notes, and then follow your basic notes on forex with a very comprehensive training on a very successful trading strategy discussed here, Training on Forex Trading.
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