The most profitable traders didn’t find success overnight when they tried their luck and started to trade Forex. Some of them even had to go through the bitterness of life before finally achieving their goals. Here are some of the top three most successful traders of all time. Their lives are colored with success and tragedy while others were branded with mythological status in Forex trading.
George Soros
Born in Schwartz, Gyorgy on August 12, 1930, George Soros is a billionaire investor and philanthropist with a net worth of $8 billion after having donated $32 billion international grantmaking network, Open Society Foundations. Soros became famous after he brought down the Bank of England and became the most powerful person.
His career in Forex Trading skyrocketed in the 90s after he placed a bet against British pound which soon generated $1 billion in profits. What’s more fascinating about his billion-dollar profit was that he achieved it in less than 24 hours. But Soros didn’t use a Forex scalping strategy, unlike other traders. In fact, his trading plan takes a long time.
The Forex Market paved the way for Soros to experiment with different strategies including the buy and sell technique that broke the British bank. As of the moment, no one ever did the same as his finance niche.
“Markets are constantly in a state of uncertainty and flux and money is made by discounting the obvious and betting on the unexpected.” – George Soros
Bill Lipschutz
Another successful Forex trader and Forex Trading, founder, and director of Portfolio Management at Hathersage Capital Management, Bill Lipschutz is an inspiration to many Forex traders. This is all because he managed to turn his $12,000 which he inherited from his grandmother into billions. He also helped the Salomon Brothers gain $300 million every year.
“I don’t trade on rumors, I’m the basic trader, trying to gather information, helping me to decide if the investment is worth rooting for” – says Lipschutz, commenting about his successful trading strategy. The net worth of Lipschutz is hidden from the public, but certainly, he is considered one of the best traders of all time.
Andrew Krieger
At the age of 32, Andrew Krieger made it to one of the most profitable Forex Traders. Krieger took into consideration the currency exchange after encountering the Black Monday crash. The opportunity paved the way for him to gain some profit. He earned millions of dollars after taking short positions on the New Zealand currency, which resulted in the excess in the stock of the whole country.
The trade Forex career of Krieger started when he joined hands with Bankers Trust in 1986. He previously worked for the Salomon brothers. Krieger was tagged as one of the “most aggressive traders” during that time. His trading strategy gained him some awards and recognition and shocked the Bankers Trust who supported him all the way. Through the help of Bankers Trust, Krieger’s trading limit reached $700 million from the normally given limit to traders which is only $50 million.
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