Forex traders avoiding the limelight is far from an anomaly, however, there are some of the proficient individuals that have defied all odds and reaped billions of dollars as profit by trading in the forex market so they can’t help but stay in the limelight, being an inspiration for thousands. Their hard work and dedication are an evidence of what can be achieved with a little determination.
To improve your skills and get a better understanding of the forex market, you can look into the paradigms that exist in the practices of these traders and use those strategies to your benefit. These experts have learned things the hard way, so why don’t you put their years of experience to your personal good use.
Like a wise man once said, “if you want to be the best, you must learn from the best”, Fuad Ahmed, the currency trading expert created this list of 3 forex traders to help inspire you to remain headstrong and get your dose of inspiration. While some are more hardworking than others, there is one thing that all of them have in common and that is they lead by example.
Scoring the rank number 30 on Forbes’ Ranking of Billionaires all over the world, and having the net worth of $8.3 billion today, George Soros is probably the most flourishing trader the forex market has ever come across.
George Soros was born in Budapest, Hungary on August 12, 1930. He has firsthand experience of World War II. He fled from his war-torn hometown and settled in England to seek refuge. He grew up in London, completed his education there, and graduated with a business degree from London School of Economics. Prior to establishing his own hedge fund, he gained expertise in the financial sector by working at banks.
With the expertise and revenue from his initial year from Double Eagle, Soros shaped his second fund, better known as, Soros Fund Management. Double Eagle was later named Quantum Fund, an establishment that has seen amazing highs in its lifetime. The company almost reaped 24.9 Billion in assets during his presidency. His second fund, the Soros Fund Management proceeded to make revenue of more than $40 Billion if we take into account the funds of last 50 years.
George Soros especially gained a lot of fame after he ended up making as much as $1 billion, and that too, in the matter of a day. Till date he is known as the man who almost broke the Bank of England after he transferred over $10 million outside of the country.
Not only is George Soros generously endowed, he is a charitable person who has donated money at every turn. Research shows that he approximately gave away $7 billion in his lifetime to charity.
Born in Pennsylvania to a middleclass family in 1953, Stanley Druckenmiller has the net worth of $4.8 billion today. Stanley ventured into the investment market in 1977 at Pittsburgh National Bank, where he swiftly moved from just an intern to the lead of the research in merely a year. Spending around 5 years in the investments industry gave Stanley enough experience to start his own organization, which was set up with the name of Duquesne Capital Management. He gained a lot of press from that point on, when he was entitled as the leader of the Dreyfus Fund and went so far as to work under George Soros at the Quantum Fund, contributing in the before-math of the event that caused the Bank of England to break. This accomplishment, earned him a lot of name, close by George Soros, and this popularity increased even further after his name was mentioned in the book “The New Market Wizards” which turned into a huge success.
But then later he went on and resigned from the hedge fund in 2010, referring to reasons that it wasn’t encouraging him to do his best and work to exceed his expectations. (Up until that point the hedge fund had been rounding up a usual uninterrupted 30% return yearly. Amid the period of his resignation, the organization was purportedly acquiring – 5% in returns.) The organization after this, healed from its losses and brought a little revenue, after which he reverted his customer’s investments and shut the hedge fund, confessing that the process of keeping up with his previous performances and record was taking a toll on him physically and psychologically.
Bill Lipschutz was born in 1956 and brought up in Farmingdale, New York. While his current net worth is unknown, he was making $300 million a year in circa 1980. He went to Cornell University and graduated with a Bachelor’s degree in Architecture from their expansive arts program, and then further went ahead to get a Bachelor’s certificate from the Johnsons School of Finance which is also in Cornell.
Around the time when he was in college, he acquired assets after his grandma’s passing, $12,000 worth of stock, which he traded in exchange for money. He started investing this cash whenever he had the time. He solely learned as much as he could about the money related markets from the library, and utilized this knowledge to make $250,000 from mere $12,000.
Although, this achievement was sadly brief, as one awful trading choice completely erased all of his profit, he used his mistake as a lesson, and this in turn only made him a better investor in the future.
Lipschutz started working for Salomon Brothers while he was pursuing his MBA, after which he joined the new foreign exchange division. He became a part of the group that Salomon Brothers created for their brokers to learn money trading, and it helped them gain a lot of success.
He decided on an early retirement from Salomon Brothers, however this retirement was short lived as he got out of it and started working with the Hathersage Capital Management as Director of Portfolio Management since 1995.
So those were our 3 top picks out of the famous forex experts. While we believe there are thousands of forex traders that have truly outdone themselves, the works of these 3 are absolutely commendable.