Best Forex Traders In The World
Whether you are an experienced forex trader or completely new to the forex market, one thing is for
sure that everyone wants to be the most successful trader in this market.
But to become a successful trader you must be ambitious to achieve your goal.
In this write-up you will get some tips to become one of the best forex traders in the world along with
brief stories of some of the best forex traders in the world.
How to be successful in forex trading :
When you want to improve your forex trading sills then you must find out a few greatest forex traders
in the world so that you can learn from his examples.
But it is not easy to know who the best trader is and how he became successful in this trade?
Through this write-up we are trying to introduce you to some of the most commonly and successfully
traded currency pairs and the ways they can help you in making big profits.
According to various statistical figures, there is a very small difference between successful forex traders
and unsuccessful forex traders. It can be said on the basis of a few reasons like:
It is difficult to collect data about successful and unsuccessful traders as the forex market is not centralized.
The nature of forex market is like an over-the-counter market as there is no fixed place to trade currency pairs.
If you want to improve your performance in forex trading then you must find out working strategies for forex
trading as well as educational materials to keep you updated every time.
The beginners in forex trading can also join certain online free trading courses like ‘Forex 101 Online Trading Course’ etc.
to understand the tips and tricks of this trade.
It is difficult to differentiate between the successful and unsuccessful forex traders as very few of the forex traders
are significantly unsuccessful whereas the number of small winners and small losers is very significant.
The number of significantly winning forex traders is very low.
According to the data available, people rarely become highly successful traders in forex trading.
The big gainers normally go on trading whereas most people stop trading once they start losing
beyond a limit.
Due to the effect of market spreads the number of small winners in forex trading is less than the
number of unsuccessful traders.
In this way, there is a very small difference in the percentage of successful and unsuccessful forex traders.
Stories of some of the best forex traders
Until 1970, Soros worked with a number of financial companies.
But after establishing his own financial company, Soros Fund Management,
in the past five decades he earned over $40 billion as profit.
He worked as one of the high leverage forex brokers with the Bank of England in 1992 and became
a famous forex trader by earning a net profit of $1 billion after selling $10 billion in GBP or British pound sterling.
September 16 1992 is known as Black Wednesday in the financial history of Britain as due to the trade of Soro,
the UK was not able to maintain the required trading balance and it has to withdraw the currency form the
Rate Mechanism Exchange of Europe.
In this way, Soro became one of the best forex traders of his time due to this unbelievable trade.
At present he is among the world’s 30 richest persons.
In 1986, Krieger left Solomon Brothers and joined Banker’s Trust and became a successful trader very soon.
The company increased his capital limit up to $700 million as an award for his success.
October 19 1987 is known as Black Monday in his life as he started losing after getting a perfect position due to his bankroll.
Then he used some of the top forex brokers and focused on trading the dollar of New Zealand which was not considered
as part of good financial assets.
But on the basis of his exceptional leverage of 400:1 he was able to earn a profit of $300 million for his employer.
He left the company in the following year with $3 millions in his account which he earned from forex trading.
He started his financial career as a trainee at a bank in Pittsburgh in 1977.
After four years of becoming a successful forex trader he established his company, Duquesne Capital Management.
From 1988 to 2000 he worked successfully as one of the forex brokers for George Soro for several years.
But when he started working with Bank of England he became one of the best forex traders very soon.
Thus, by using the best forex trading platforms many people became the best forex traders in the world.
Written By : YOUSSEF J A ALMEER
Image rights @ admiralmarkets.com