Several forex traders rose through the ranks of thousands of aspirants to reach the pinnacle of their ambitions. How did they manage it? Let us read through their real-life success stories and get psyched up and inspired to build our success tales based on their examples.
But wait, what is a success, and what is the essence of success? Let us define the term first, shall we? To prevail, you must maintain consistency and earn significant revenues. Profits are unquestionably a sign of success. Aside from that, though, success could stem from the trader's pleasure and joy.
Being committed and passionate about trading is a not–so–hidden trading secret. The very volatile market will break the weak, impatient, and overly emotional hearts. However, your passion for trading will keep you afloat during the most violent storms. When the going gets tough, the tough get going, as we used to say. Because money alone will not get you on the list of successful forex traders, success is more than just money. Profitability and enthusiasm are a winning combo!
So, who are the world's most famous forex traders? There are many of them, and reading through these seven natural-life Forex success stories will leave you with a lasting impression and some helpful insights into how they reached their goals. Let's take a look at some well-known forex traders.
stories of 5 successful forex traders that will inspire you.
1. Stanley Drunkenmiller:
Stanley shone under Soros' tutelage. His real-life success story will inspire you to believe in teamwork, collaboration, and trust. For numerous years, he worked with Soros at the Quantum Fund.He was present in 1992 during the infamous Black Wednesday deal, which was responsible for breaching the Bank of England and shorting the British pound.
Soros and Stanley worked extremely well together. They made billions of dollars from just one trade. Stanley later elected to leave the Quantum Fund to pursue his own business. He later established Duquesne Capital Management.
2. Paul Tudor Jones
Another historical figure was born in 1954. Paul, who had had a humble life, rose the ranks to become a business owner. His life seemed to be average, but the moment he pulled the trigger – when he accepted the potential dangers and seized the chances knocking on his door – he unlocked a whole new level of trading experience.
He first attended Harvard Business School before working as a commodity trader at the New York Stock Exchange. These allow him to obtain knowledge.
Soon after, he established the Tudor Investment Corporation. In 1987, a market meltdown made headlines, and Paul's company profited by 62 per cent on short positions. Then, during that difficult period, he made $100 million. Finally, he was appointed chairman of the New York Stock Exchange in 1992. What a brave man he was!
He has been dubbed the "Greatest Forex Trader of All Time." What an excellent achievement! Everyone looks up to him and his life as a model. His legendary triumph established his legacy, which resulted in a more than–a–billion-dollar profit from his short position.
He engaged in the practice of buying cheap and selling high to profit from price swings in the asset. Aside from that, George became synonymous with Black Wednesday in 1992.
Soros has the ability to see beyond what others could. His keen perception enables him to examine events and make sound decisions. George generated a sizable profit as a result of his sound–thought–out decisions.
Edward achieved his first milestone at the tender age of 5 — firsthand trading experience! Edward traded with his neighbour as the kid of immigrants who moved to the United States from the Netherlands. He exchanged jewellery – a medallion — for five magnifying lenses that he could use for his interests.
Edward developed a strong desire to trade after that. Who would have guessed that he would one day be known as the "Father of the Trading System"? He first began trading in the 1970s. He was enthralled by creative ideas such as money-making machines, machine tool automation, and technical analysis.
Later on, he developed automated algorithms that would be used to increase trading profits. He then began to use computer programs for trading transactions. His hard work and creativity paid off handsomely, as his profit was unbelievable. From 1972 to 1988, his gain appeared to be over 250 000 per cent - all because of his robot's assistance.
A pioneering member of a Commodities Corporation Company deserves a spot! He was known as the leading currency trader in German marks throughout his remarkable career, as he possessed USD 300 million in that currency alone.
But he could not be as successful without the help of a mentor, Seykota. He, later on, became a mentor to Bruce Kovner. What a story of paying forward. His life would tell us that we have to contribute to others’ success; the kindness we receive, we have to pay it forward.
Although his life seemed no different to some, he taught us the essence of meaningful mentorship. We all need strong mentors, and later on, we could become one ourselves. We have to impact the knowledge we have to the next generation of forex traders.
Now that you have heard their stories, it’s time to make your own. Who knows? In the years to come, it’s our turn to read your real-life success story.
Soon after, he established the Tudor Investment Corporation. In 1987, a market meltdown made headlines, and Paul's company profited by 62 per cent on short positions. Then, during that difficult period, he made $100 million. Finally, he was appointed chairman of the New York Stock Exchange in 1992. What a brave man he was!
3. Soros George
He has been dubbed the "Greatest Forex Trader of All Time." What an excellent achievement! Everyone looks up to him and his life as a model. His legendary triumph established his legacy, which resulted in a more than–a–billion-dollar profit from his short position.
He engaged in the practice of buying cheap and selling high to profit from price swings in the asset. Aside from that, George became synonymous with Black Wednesday in 1992.
Soros has the ability to see beyond what others could. His keen perception enables him to examine events and make sound decisions. George generated a sizable profit as a result of his sound–thought–out decisions.
4. Edward Seykota Arthur
Edward achieved his first milestone at the tender age of 5 — firsthand trading experience! Edward traded with his neighbour as the kid of immigrants who moved to the United States from the Netherlands. He exchanged jewellery – a medallion — for five magnifying lenses that he could use for his interests.
Edward developed a strong desire to trade after that. Who would have guessed that he would one day be known as the "Father of the Trading System"? He first began trading in the 1970s. He was enthralled by creative ideas such as money-making machines, machine tool automation, and technical analysis.
Later on, he developed automated algorithms that would be used to increase trading profits. He then began to use computer programs for trading transactions. His hard work and creativity paid off handsomely, as his profit was unbelievable. From 1972 to 1988, his gain appeared to be over 250 000 per cent - all because of his robot's assistance.
5. Marcus Michael
A pioneering member of a Commodities Corporation Company deserves a spot! He was known as the leading currency trader in German marks throughout his remarkable career, as he possessed USD 300 million in that currency alone.
But he could not be as successful without the help of a mentor, Seykota. He, later on, became a mentor to Bruce Kovner. What a story of paying forward. His life would tell us that we have to contribute to others’ success; the kindness we receive, we have to pay it forward.
Although his life seemed no different to some, he taught us the essence of meaningful mentorship. We all need strong mentors, and later on, we could become one ourselves. We have to impact the knowledge we have to the next generation of forex traders.
Now that you have heard their stories, it’s time to make your own. Who knows? In the years to come, it’s our turn to read your real-life success story.