Forex Success Stories - Based on Successful Forex Traders
Forex is not meant for a select few individuals. Anyone can become a trader provided one has the requisite trading knowledge and is above 18 years old. A beginner can understand the underlying technology and go on to become a guru. Some of the current crops of billionaires have engaged in forex trading and made a killing just by exchanging currencies.
The most notable of them is George Soros, whose net worth is $8.3 billion. In 1992, he risked $10 billion but in return made $1 billion in just a single day. At that time, he banked on the pound short position, which refers to the higher propensity of the pound to increase in value based on good news than to decrease because of bad tidings. As such, his risk was based on an analysis of the market, and he used the $10 billion knowing that there was a high chance that he would earn a large amount of money in profit.
Other most success traders included:
- Steve Cohen;
(net worth: $13 billion)
- Stanley Druckenmiller;
he was Soros’ protégé (net worth: $4.7 billion)
- Urs Schwarzenbach
(60% return on the investment and the first Billion dollars that the man would make for his employer).