Their stories are a little bit different so let’s check who are the most successful forex traders nowadays:
George Soros, born in 1930, left Hungary during the Nazi occupation, and moved to London where he studied and graduated in the LSE (London School of Economics). Since then, he has built an empire after having worked for different financial companies. In 1970 he founded the Soros Fund Management that has generated more than $ 40 billion in profits in his story.
He became famous in 1992 as the person who “broke the Bank of England”: in fact he gained between £1 and £1.5 billion in total by selling $10 billion of GBP (British sterling pounds). That day was called “Black Wednesday” and the British government left the European Exchange Rate Mechanism.
He has written several books and has become one of the wealthiest individuals in the world.
The story of Bill Lipschutz has been the classic story of many traders. During his studies at the Cornell University he was able to turn $12,000 into $250,000. However, due to some bad decisions, he lost the entire capital. Later on, after having learned this lesson, he changed his trading style to a more risk- calculated strategy.
When the forex markets became popular, he was able to make $300 million profits per year only in forex.
Andrew Krieger became really famous when he decided to put his eyes on the New Zealand dollar (NZD) and sold it by using a leverage 400:1, with an estimated value between $600 million and $1 billion. That amount exceeded even the circulating liquidity of the currency and he made profits for more than $300 million for his employer. Then he worked for several financial companies, including Soros Management Fund and Northbridge Capital management.
After having worked for Pittsburgh National Bank, Stanley Druckenmiller created the Duquesne Capital Management in 1981 and he also successfully managed the money for George Soros contributing to the famous “broke of Bank of England” as described above.
He also worked for the Quantum Fund and then came back to Dusquesne in 2010. He wrote also a best-seller “New Market Wizards” and in 2010 he closed his hedge fund.
His trading career started at 32 years old when he used his credit card limit to buy futures contracts and made $20,000 profit. Then he worked for Commodities Corporation and then founded Caxton Alternative Management. This hedge fund soon became one of the most successful in the market with more than $14 billion in assets.
Related education and FX know-how:
Forex Education - Basics:
Forex Education - FX Brokers:
Forex Education - Technical Analysis: