The Top 5 Most Successful Forex Traders

Forex Trading requires discipline, hard work, as well as, determination in order to be a successful trader. Most people have tried their hand on the trade, but have ended up with huge losses. The truth is, there are risks involved in forex trading but the real gurus know what it takes to be a winner. If you are a newbie in Forex Trading, you need to follow certain strategies in order to be successful.

To be successful in this field, you need to learn from other professionals who have made immense success in trading. There are various people around the world who are recognized for their expertise in this field and are included in some of the most successful traders in the world. Below is a list of some of the renowned forex traders who have made it through the good and bad times to be successful.

1. Bill Lipschutz

Bill Lipschutz was a brilliant student who had excellent mathematical skills. The New York born trader received his Bachelor degree in Fine Arts from Cornell College and then acquired a Masters Degree in Finance in 1982. His interest in stocks started during his college years where it’s said that he invested $12000 in stocks, which grew up to $250,000 after only a few months. Despite the huge achievements, Bill is said to have lost all his money to stocks but later shifted to Forex Trading, which was more stable. Bill is now a famous trader in the financial sector and is estimated to have made $300 million in a year by trading in the Forex market.

2. George Soros

The graduate from London School of Economics shocked the world when he made $1 billion in one day. When he gained $10 billion dollars, he was nicknamed as “the man who broke the bank of England.” George is a renowned author of investing books and is also a philanthropist. He is also said to have donated about 8 billion dollars in charity.

3. John R.Taylor, Jr.

John enhanced his trading skills at the Chemical Bank where he was working as a political analyst. He, then, became a Forex analyst for the bank after one year. This gave him the opportunity to build a strong foundation in the Forex Trade field. Today, the Princeton University graduate is the owner of a currency managing firm, FX concepts, and is also recognized for inventing computer-aided Forex Trading systems.

4. Stanley Drunken miller

After graduating from Bowdoin College, Stanley, he worked as an oil analyst for the Pittsburg National Bank. He, then, left his job at the bank and created the firm namely Duquesne Capital Management. It was at this time that he started working for George Soros, a successful Forex Trader, where he learned his trading skills. During his time with George, he is said to have earned both himself and Soros over $1 billion. He, then, returned to Duquesne in 2000 and is working there till today. He also owns a non-profit organization which is dedicated to educate people.

5. Andrew Krieger

Andrew became famous in 1987 when he sold the New Zealand currency between the value of $600 million to $1 billion. The value exceeded the money supply circulation in New Zealand at that time. Andrew earned $300 in revenue from the single transaction. In 1988, he worked for the Soros Management Fund and later moved to Northbridge Capital Management. He is also a philanthropist and is said to have made $350,000 donation for the tsunami victims in 2004.