Majority of the beginners, including myself, are fascinated by stories of the most successful Forex traders. Everyone tries to imitate them, wants to be at the same financial level as they’re right now, but no one pays attention to details that do matter a lot. They’ve spent hours of sleepless nights to be considered among the greatest ones.
Their success stories are inspiring, helping us to take action. Let me introduce you to the people, who have managed to influence the entire world by just trading currency pairs onto the rapidly growing market. Surely, learning more about their career path will help move towards the goal of becoming the most successful Forex trader.
#1 George Soros
We’re sure everyone living in the 21st century, has at least once heard about the existence of the man who broke the Bank of England, probably the most influential human being within a net worth of $8 billion. His career skyrocketed back by the end of the 90s when betting against the British pound lead to generating more than one billion US dollars in profits, mentioning that fact that it took him less than a day to achieve the above-mentioned result.
Unlike many others, Soros has not been employing a scalping strategy or any other day trading technique. The majority of his trades were done over a long period of time. Actually, Quantum Fund was the first company he founded, leading to generating stable income lasting for years. Forex Exchange Market helped him experiment with varieties of strategies. Getting know details of the buying and selling techniques later on turned into breaking the English bank, impacting the entire industry. No one has ever done something similar to the finance niche.
#2 Bill Lipschutz
If you want to find out how to be a successful trader in Forex then following the journey of Lipschutz is the only thing that you should do after finishing reading this article. Co-founder and former director of Hathersage Capital Management, has gained popularity among millions of traders after successfully managing to turn $12,000, inherited from the grandmother in billions of dollars, helping Salomon Brothers make $300 million a year.
Bill commenting on his trading strategy – “I don’t trade on rumours, I’m the basic trader, trying to gather information, helping me to decide if the investment is worth rooting for”.
#3 Andrew Krieger
Andrew undoubtfully makes the list of the most successful Forex traders in the world. While being a young entrepreneur at the age of 32 years, he was paying attention to the currencies rallying against the dollar after facing the so-called Black Monday crash. It was a perfect opportunity for Krieger to make some profits. Taking up the short position against the New Zealand dollar has helped him earn hundreds of millions of dollars, exceeding the entire supply of the country.
#4 Paul Tudor Jones
Hedge fund manager and well-known American investor, Paul Jones built up his career by having the biggest return on investments. Things started to move fast in the year of 2013, when he made a bet with tremendously big capital against the Japanese currency, Yen. Following the short-selling, it led him to have close to a 20% return rate.
Paul differentiates from the successful Forex traders by having a unique investment philosophy. Pure words of wisdom: “I don’t care about the mistakes made a few seconds ago but I wonder how they will influence the behaviour afterwards”.
Unfortunately, during the period of the last few weeks, Tudor Investment Corporation faced a bunch of lawsuits, leading to losing too much money. He did manage to solve all the financial issues, but surely it will take some time to get the high-profit returns back to the game.
#5 Bruce Kovner
It took Bruce more than 30 years to make his first trade on the Forex market. Purchasing the right futures contracts resulted in earning multiple six figures. Considering the fact that becoming a billionaire trader after driving a taxi for pocket money, supports the idea that everyone is capable of having the dreams fulfilled. It is just a matter of time and pure dedication to the work to make things happen.
#6 Stanley Druckenmiller
Having the right mindset along with a successful Forex trader lifestyle can influence the possible outcome that you trying to achieve. Stanley was the perfect example of how growing up in the suburban area of the country cannot make a difference when the trader him or herself has a proven strategy to work with.
He had been in charge of managing money for George Soros, making the greatest impact in the financial career. With a net worth of $4.6B, having years of experience working as a lead hedge fund manager has given him a chance of operating money through a family office without taking any responsibilities furthermore.
#7 Joe Lewis
Born in Great Britan, having the obligation of paying taxes made Joe leave the country in the early period of his life and made it impossible to trade with the UK FX Brokers for him. After successfully operating and later on selling father’s business, moving to the Bahamas was the only option to maximize the potential income on upcoming trades, targeting the Forex market.
Surprisingly Lewis is among the best Forex traders to follow, because of being persistence during the period of the lifetime and having enough knowledge to make millions of dollars not only in the Forex niche but being an investor of leading real estate, restaurant, and resort businesses.
#8 Michael Marcus
Childhood dreams started to turn into reality when Michael connected with Ed Seykota back in in the late 20s. He’s managed to sink in all kinds of information how Ed managed to build one of the most successful software companies, orienting onto the trading market.
Having the proper mentorship helped Marcus surpass one of the top Forex traders in the world. Becoming the experienced commodities trader in less than 10 years period made him turn hardly collected $30,000 into close to one hundred million. We’re sure none of you imagines generating that much income with the low capital. Sometimes knowledge is the only thing that matters in terms of having a successful career.
#9 Urs Schwarzenbach
The United Kingdom-based trader, the founder of the Intex Exchange, Urs deserves to be mentioned as the most successful Forex trader. The FX community itself may not refer him to the best one, but kind of knowledge and the ways of dealing with issues he has defines the financial career.
Having a few years of experience in the corporate world was the main reason why he had managed to earn the first million dollars on the Foreign Exchange Market without owning any large capital. Still, there are no sources, indicating how Urs makes this amount of money, but one thing is sure. Running multiple companies without facing any financial issues definitely is not easy and requires some sort of patience and education.
#10 Richard Dennis
The so-called genius of the commodity trading systems, Richard borrowed less than $2k from the relatives and turned it into $200,000,000 in an approximately 10-year timeframe. While working as an order runner for the Chicago Mercantile Exchange, he managed to learn the basics of the trading and later on expanded his knowledge.
He’s mentored thousands of brokers, located into different parts of the world. Considering the fact that he has also managed to unite people interested in trading for the purpose of achieving a certain financial goal. It took them about 4 months to exceed annual revenue of $100 million.
Here’s one of the famous quotes, that got my attention: “I always say that everyone can publish a set of rules into the newspaper and no one pays attention to the actual power of it. The mandatory thing is discipline and consistency”.
Making the list of successful Forex traders is not the easiest thing to do. However, the ones who want to step into the world of trading should have enough courage and proper financial education to reach the desired results. Considering the costly mistakes along the journey will also help you accelerate career growth, leading to having the best life. Unfortunately, only the successful Forex traders stories are enough for having the right direction. You will need proper guidance and hours of practice to get to the level where you want to be.
Take some time to take in proper financial education. Without knowing the specific terms and strategies, it will be close to impossible to find success. Undoubtfully, all the people having some sort of financial background will easily take a victory over you. It does not really matter what career path you will choose.
Some people root for the business school, while others think that going through the macroeconomic courses will be enough to enter the Forex market. You might have already heard the statement that having the official education is kind of obligatory. Nowadays the set of rules, regulating the market constantly changes and that’s the reason why no one knows what will happen in the close future. We do recommend having the certified documents in order to prove others wrong.