Forex Success Stories – You Can Be There Too!
Since you are here, it shows your interest in forex trading and that you want to set a personal goal by learning about the forex success stories. Then, you are at the right place, as the following guide presents useful insights and information about the most successful forex traders.
Before proceeding, let’s briefly understand what forex success looks like. To begin with, a successful forex trader can pay the bills and has sufficient money left to invest, save, and spend on luxuries.
Once we have the starting goal of being a successful forex trader, let’s learn from the experience of the millionaire forex success stories.
Also known as the greatest forex trader of all time, George Soros is a forex legend who successfully secured a profit of more than one billion euros. He essentially started from a short position by buying low while selling high to gain higher profit margins on a particular asset price.
Not only that, but he achieved the above profits before the infamous Black Wednesday of September 1992. It’s considered one of the darkest days in economic history when the pound sterling fell to one of its lowest values.
The critical takeaway from George Soros‘s success story is to ensure an open mindset while focusing on the current affairs and economic conditions that affect the country’s currency in which you trade.
He is well-known for being a participant in Black Wednesday alongside George Soros, with a net worth of $2 million. He has a distinctive forex trading policy of looking for profits on good trades while preserving the capital.
Following this philosophy, Stanly Drunkenmiller was able to ace the game of trading currencies in the foreign exchange market.
Paul Tudo Jones
Born in 1954, Paul Tudor Jones preferred a job as a commodity trader at the New York Stock Exchange by turning down the opportunity to study at Harvard Business school.
Moving on, he opened his own company named Tudor Investment Corporation in 1987 and earned a whooping profit of 62 percent on short positions. As a result, he earned a handsome amount of $100 million and ultimately became the New York Stock Exchange Chairperson in 1992.
The lesson learned from Paul Tudo Jones’ story is to take a leap of faith while having courage in dangerous times.
One of the key lessons from the forex success stories of Bill Lipschutz is the integral role that risk management plays in forex trading.
If you are an inexperienced forex trader, you must follow the path paved by Bill Lipschutz. Despite having zero forex trading experience, he earned millions of dollars of profit by working in an FX department known as the Salomon Brothers.
After that, he founded the Foreign Exchange department and generated $300 million in just one year as a currency trader. As a result, his company became one of the most influential players in the currency exchange within ten years.
Make Your Own Forex Success Story!
The key takeaway of the above forex success stories is to share information about the fantastic capital return on forex trading. It takes one dream and persistent effort to become a forex success story.
If these forex success stories have inspired you to start trading yourself, Telegram.Forex is where you can start!