I will admit that I really wanted to do an article about successful Forex traders and their stories but finding them online was virtually impossible. Even the currency traders that defined themselves as real millionaires could not back that up with any audited statement of their trading account. A quick note on “millionaire trader” claims Jul 02, · The Forex Washouts – Forex Horror Stories. During our years of involvement with Forex trading we have come across many other fellow traders that we have become acquainted with or just simply observed from a distance among various trading communities. Some of these traders evolved into profitable full time traders, others unfortunately became Jan 05, · I had started live forex trading after a year of trial in demo account and i believe I ready for the real profit. Initially I gain 30% and and recently loss to left 10%. I had once felt wanna gave up. Now I decided to continue after read your cheerful article. Once again thank you. By the way, are you still working as properiatry trader?Estimated Reading Time: 6 mins
7 Real Life Forex Success Stories Showing What’s Possible with a Good System
Every forex trader whether they are a beginner or a forex trading stories has a single goal in mind which is to become a successful forex trader someday.
Many traders who have officially made it on the forex markets come forward with their forex success stories and share what they did to become successful at their craft. Reading their stories is sure to give you valuable insight into their minds and how they work. So let us look at ten such success stories of notorious forex traders. People in the trading industry look up to George Soros and have dubbed him The Greatest Forex Traders Of All Time. On top of that, George was able to do all this before the famous Black Wednesday of September when the pound sterling currency fell to a dangerously low value.
Soros was sharp enough to read the situation and take decisions on his investments accordingly. His decision to go short earned him a handsome profit and recorded his name in forex history, forex trading stories. The Black Wednesday witnessed the pound sterling losing against the Deutschmark miserably which led to many people losing their money as the pound sterling fell in value.
Therefore, keeping up with all relevant occurrences around the world is a must for any forex trader if they want to be successful one day. Stanley Druckenmiller is also a participant of the famous Black Wednesday along with the legendary George Soros.
As we said before, forex success stories come with some insight on the strategies that these big-time traders used in order to become successful and in this case, its preserving capital. Ensuring that you have a decent amount of capital in your forex trading stories to further your trading endeavors is a sound strategy so be sure to keep that in mind.
Paul Tudor Jones was born in and lived quite a normal life until he took the risk forex trading stories giving up the opportunity of getting into Harvard Business School and took a job as a commodity trader at the New York Stock Exchange.
The reason why Bill is on this list is that his success story is very peculiar yet forex trading stories. Especially for inexperienced traders. Bill did not have any prior experience in forex trading and yet he was able to amass hundreds of millions of dollars in profit with an FX department called Salomon Brothers.
Bill has forex trading stories told his followers that having a correct mindset was the key to his success, forex trading stories. He had a very different approach to fx trading. If you are motivated enough, you could be the very next Bill Lipschutz. Michael Marcus is the founding member of the Commodities Corporation Company and is regarded as one of the best forex traders of his time. During his prime, he was the biggest currency trader in German marks as he owned around USD million in German marks alone.
Marcus learned everything he could from his mentor Ed Seykota and he later became the mentor of Bruce Kovner who himself became a successful trader later on.
Having a strong mentor proved to be very valuable for him and he passed forex trading stories all his knowledge to his protégé continuing the chain. In the yearhe joined the Bankers Trust where he quickly became a famous trader due to his aggressive tactics, forex trading stories. Kreiger became so famous for his skills that he was invited to work for the legendary George Soros after this historical event. Richard Dennis started trading commodities when he was only At that time he was working at the Chicago Mercantile Exchange as a floor order runner.
After a decade, Richard became a millionaire. He believed that one should never throw away their capital on sub-optimal trades and preserve capital for rare instances where you have a chance of making lots of money in a short period. Forex success stories such as these give many the strength to chase their dreams. Had Dennis shied away from borrowing money from forex trading stories friends, he would not have become a millionaire.
Seykota was a successful trader in the 70s and he is the mentor of the famous trader Michael Marcus, forex trading stories. One can say that Seykota is somewhat different from the rest of the traders on this list because he comes from an older generation of forex traders. Seykota is said to be the first one to implement the methods of trial, testing, forex trading stories, and implementation of the most viable system.
While working at a brokerage house, Seykota researched his trading systems on basic computers as well as punch cards that were common during the 70s. Traders should never shy away from using unconventional means to perfect their craft. Bruce Kovner was the protégé of Michael Marcus who took a calculated risk at the very beginning of his career by borrowing money against his social credit and buying soybean futures contracts.
Kovner went on to become one of the greatest forex traders of his time until his retirement in In all these forex success stories, there was something of significant value to be learned. Most of these men who made history in the world of forex trading stories trading had something or the other to teach you. From risk management to capital preservation and self-confidence and an innovative mindset, forex trading stories, we hope these forex success stories had an impact on your entire thought process help you come with your tactics and strategies.
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Cody Walls. Share 0. Tweet 0. Pin 0. George Soros. If you do that then who knows maybe the next George Soros could be you! Stanley Druckenmiller, forex trading stories. Paul Tudor Jones. Bill Lipschutz. Michael Marcus. Andrew Krieger. Chris Wheeler. Richard Dennis. Ed Seykota. Bruce Kovner. Related Articles. Popular Articles. The 5 Best Forex Signal Providers Best Forex Account Management Services 5 Easy and Profitable Forex Strategy for Your Trades Forex Trader Salary: How Much Does An Average Currency Trader Make?
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, time: 4:49The Most Successful Forex Traders and Their Stories
I will admit that I really wanted to do an article about successful Forex traders and their stories but finding them online was virtually impossible. Even the currency traders that defined themselves as real millionaires could not back that up with any audited statement of their trading account. A quick note on “millionaire trader” claims Jul 02, · The Forex Washouts – Forex Horror Stories. During our years of involvement with Forex trading we have come across many other fellow traders that we have become acquainted with or just simply observed from a distance among various trading communities. Some of these traders evolved into profitable full time traders, others unfortunately became Jun 18, · If John's typcal yearly wage is $30, then trading for a living only makes sense if he can make at least $30, If John was only making $15, trading, then the opportunity cost of trading for a living would be $15, Now let's look at Bob. Bob has a college degree and more
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