Richest Forex Traders You Should Know
Forex trading is considered to be one of the most thrilling financial activities. There are virtually no limits to your earnings. Investing and trading are two words that fascinate everyone. They both imply pleasure and money combined. However, it can also be referred to as a business activity.
If you have been trading for quite some time and you have been wondering how the wealthiest Forex traders make it to the top, then you have come to the right place. If you are entirely new to trading Forex, or are an experienced currency trader on the markets, you are to be expected to share one key aspiration. It would be best if you always moved forward. Never stop what you do, and do not pay to much attention to failure – learn from it and move on.
If you may have heard figures thrown around signifying that the ratio of the wealthiest Forex traders to ineffective ones is small, there are at least a couple of explanations to doubt such claims.
Firstly, rigid data is challenging to come by on the topic. It is because of the reorganized, over-the-counter nature of the Forex market.
This article will dig into the lives of the top Forex traders. Specifically, the ones who became highly prosperous. It will also provide tips on how to become successful yourself!
The Richest Forex Traders In The World
The richest Forex traders are, without a doubt, the people we should look up to. But besides just simply appreciating them, we can learn from them.
You will see numerous examples that will help you understand how to benefit from them. Get to meet the world’s successful Forex traders of 2020.
His birth name is Schwartz György, born on August 12th, 1930, in Hungary. This diligent man has an in-depth financial education. He studied at the London School of Economics and Political Science. Also, he graduated in Philosophy in 1952. During accomplishing his studies, he had already started making trades.
As of February 2018, he had a total net worth of $8 billion.
As of September 2020, George Soros’ net worth amounts to $10 billion. Sometimes his net worth value stood at $25 billion. But he transferred $18 billion to his charity foundation Open Society Foundations which works in more than 100 countries.
Bill is, no doubt, a phenomenally successful day trader. He was born in 1956 in New York City. He earned good grades throughout his school years. Also, one of his favorite subjects in school was math.
Bill Lipschutz is a foreign exchange market trader and the co-founder and Director of Portfolio Management at Hathersage Capital Management.
His estimated net worth for 2020 is $8.3 billion. He has a fascinating approach to trading. Often called the Sultan of Currencies, Mr. Lipschutz describes Forex as a very psychological market.
Paul Tudor Jones
Our list of the most prosperous Forex traders continues. Paul Tudor Jones is considered one of the wealthiest day traders alive to this day. As of September 2020, Jones has an estimated net worth of $6 billion.
Jones went to the University of Virginia and graduated with a degree in Economics in 1976. After turning down Harvard Business School, he kept working as a commodities trader in the NYSE.
In 1980, he founded his hedge fund, Tudor Investment Corporation, an asset management firm headquartered in Stamford, Connecticut. The billionaire is also a philanthropist, and he founded the Robin Hood Foundation, which focuses on poverty reduction. Jones mainly bet on fluctuations in interest rates and the Forex market.
Stanley Freeman Druckenmiller is an American hedge fund manager, a very successful investor, and a philanthropist. He was born in Pennsylvania and grew up in a middle-class household. He received his bachelor’s in English and Economics. But, he dropped out of a Ph.D. program at the University of Michigan to start a position as an oil analyst for Pittsburg National Bank.
He was the lead portfolio manager of the Quantum Fund. In 1988, he was hired by George Soros to trade for the Quantum Fund.
For more than a decade, Druckenmiller managed money for Soros. His net worth is 4.7 billion USD as of 2020.
Schwartz is known for winning the US Investing Championships in 1984 by trading stocks, forex, and options. Martin was a Wall Street trader who made his fortune successfully trading stocks, options, and futures.
He also traded on the American Stock Exchange for options and futures, making $600,000 in his first year as an independent trader and gained $1.2 million in two years.
The owner of numerous champion horses gathers several major racing wins, such as the Meadowlands Cup, Coronation Stakes, Prix de Diane, Prix Vermeille, and Prix Vanteux.
How Do I Become More Successful at Trading?
Now, after reading about these extraordinary humans, you probably have a question. How do I become more successful at trading?
Well, the answer is simple. All these billionaire Forex traders have one thing in common. One way to become better is to learn by experience. Finding out the best Forex traders in the world is a good starting point. Then, you can start studying their approach and strategies.
On the flip side, there are still several educational materials. In addition, you are working with Forex trading strategies that are accessible online to help you may perhaps improve your trading performance.
- Think before you act. Any trading idea needs sound reasoning, a backpack of experience, and a well-thought strategy.
- Build a position as the market goes your way and exit the same way. No other way around.
- Do not be rigid. Be as flexible as the market. Start to ease up once there are signs that the fundamentals and the price action are beginning to change.
- The Forex Markets operates 24-hours and doesn’t stop moving when you go to bed. So, pay attention to that. Be aware of everything that is going on in the market.
Why Do You Trade?
This is perhaps the most crucial factor for success. What is your motivation? We all have different reasons for trading.
Always remember to be very clear on why you started, invested, and why you open the charts every day.
Ensure to have a trading plan, control risk, and focus on producing strategies that will keep your profits improving.
The Bottom Line
There are certainly more notable hedge fund traders worldwide, but these ten investors have proven their worth above everyone else.
If you would like to start up your game in your investments, then you may undoubtedly need to learn a few things from these folks!
Even the most successful trader had to begin somewhere, and if you can frequently generate profits, you can consider yourself a successful Forex trader.
May these real trading success stories from those who are real millionaires get you eager and make you believe that you can do it too.
Just go through different trading approaches and make sure you understand the process before taking on a risk.
Hopefully, this article has given you some essential insights from characters shared by the most fruitful Forex traders.
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