Home > History

6 Most Successful Forex Traders In The World

  • Who is George Soros.
  • Who is Stanley Freeman.
  • Who is Cynthia Kase.
  • Who is Cheng Li Kuy.
  • Who is Ahmad Ariff.
  • Who is Ingeborga Gamootz.

Forex stands for foreign exchange, so online Currency Trading is just the trading of foreign currency. It is based on the core fact that, if you send money over to another country in one market condition, and then receive the money-back in a different condition, you’ll end up making a profit or a loss. So eventually through this, people exchange their dollars for profit.

Successful traders
Traders celebrating their success.

There exist many ways in which you can interfere and start working, in which Currency Trading can change your life, but the bigger one is just that you can win a lot of money. In the beginning, when you are learning the first steps of Forex Trading, it isn’t much probable to be the case, but as you develop the work, the system and figure out when to buy and when to sell, you can manage to win large amounts of money. There have been many success stories including people with very little and sometimes with no money at all, to start with working and exchanging their way up to the big dollars. This in itself is a good and obvious one enough to draw the attention and make the request for you to step into the Forex zone.

There is almost no doubt that the most successful brokers are an elite, and they are few. Nevertheless, by taking a look at a selected group of famous traders we can see that they have a few things in common:

     · Discipline — the ability to identify when an exchange is wrong and therefore minimize its losses.

       · Risk control — having a strong understanding of an exchange risk/reward

       · Courage — the will to be unique and different from the rest of the crowd, most of the time.

      · Astuteness — perceiving judging how ideas and its manifestations are shaping market trends.

What’s better than to give some specific examples of the most successful Forex traders, who started from scratch and now are seen on the top of the list:

1. George Soros

George Soros
George Soros, Founder, and Chairman of the Open Society Foundation gives a speech during Economic Forum in Brussels.

Schwartz György was the first name given. He was born on August 12th, 1930 in Budapest. In 1936 his birth surname changed from Schwartz to Soros as part of a detailed plan thought up by Soros’ father, Tivadar Soros, to remain unseen their real integrity and identification in the face of the annihilation of Hungarian Jewish people by Nazis in Germany.

Starting in 1954 with his first financial careers an employee for London broker bank Singer & Friedlander. His gap to international fame happened in the ’90s by selling an amount of 10 billion pounds sterling. His bet against the United Kingdom’s currency received his earnings for 1 billion dollars. It is for this reason that he holds the record for being the first person to acquire the highest profit in one day only. The success of his short sale started being cited and noticed throughout the globe, and George Soros was labeled as “the man who broke the Bank of England”.

On September 16th, 1992 and as an aftereffect of this operation going on, the government of the United Kingdom was obliged to withdraw the Pound Sterling from the European Foreign Exchange due to being unavailable and not willing to stay above the minimum agreed limit.

2. Stanley Freeman Druckenmiller 

Duquesne Capital
Pittsburgh, USA - August 10 2011 : Duquesne Incline over Ohio River on a Midwestern Summer day

He was born on June 14th, 1953. He is an American investor, hedge fund manager, and philanthropist. He is the previous director and president of Duquesne Capital, which he started and developed in 1981. He withdrew the fund in August 2010 because he felt unable to deliver high profits in return to his clients. At the time of withdrawing, Duquesne Capital had over $12 billion profit.

Druckenmiller started his financial career in 1977 as a management trainee at Pittsburgh National Bank. He accomplished to become head of the bank's equity research project and group after just one year. In 1981, he started his firm, Duquesne Capital Management.

3. Cynthia Kase 

She has significantly expanded to a greater amount of her capital due to commitment, lack of passion and greed and thus became one of the most successful and famous female traders. Cynthia has enlarged her technical indicators and on their basis trains newcomers. This is her Linked In account.

4. Cheng Likuy

Shanghai
The cityscape overlooking the Financial District and Huangpu River.

In 2008 Cheng Likuy,  a native of the Chinese province of Shanghai started exchanging with just $ 400. A couple of months ahead he had already $245.000 on his account. Cheng spent only seven months for training and then he went to trade directly. The trader did not display all his secrets but said that he had used pending orders. Cheng also suggested limiting the losses rigidly.

5. Ahmad Ariff 

 

In 2013 Ahmad started an exchanging account and deposited 1,000 dollars. Just in three weeks, Ahmad became a millionaire. He used a belligerent exchange of huge currency pairs. The trader kept trading in the same way that led to the complete loss of profits. Forex has great spaces and events for big money to flow to you, but greed leads to losses. This is why you need discipline and not get overwhelmed with the adrenaline of the fun. Nevertheless, he remains a simple figure who shows how some people who start from scratch, can win by trading and remaining calm.

6. Ingeborga Mootz: million-dollar granny

"Some grandmothers bake pies – and some of the trade to be millionaires."

Ingeborga Mootz is a 96 years old millionaire, who just 17 years ago started her extraordinary work with trades while being an ordinary German widow. Now she is one of the most most-known people in Germany.

She was born in a poor family and got married at an early age to escape. Until the age of 75, she had to please and beg to her partner for every penny to spend. Whenever she was trying to get a job, her husband would shout and bring her down telling her she’s incapable of working and gaining any money.  “If you think I can’t work, I’m going to trade on market!’’ She didn’t lie, even though on a lost temper.

After her husband’s death, she found 1000 shares of a concern, where he worked all his life. She chose to take the risk and put it on the line to finally end her poverty for good. It was the right decision: during the first 8 years of trading, this dynamic old woman has earned more than 1 000 000 euros.

So What's the Bottom Line?

Well, even the most successful broker had to begin somewhere, from scratch, and if you can build the right discipline to regularly generate profit, you can consider yourself a successful Forex trader. Every trader has a different story to tell. All of them go through their ups and downs as anyone does, but the essential thing that they all have in common is the will to stand up and succeed after all. The moral of every story of exchanging success is the same: it’s not over unless you decide to give up yourself.