Have you ever asked who the most Famous Traders are? Most of them are people who avoid the spotlight, and prefer to raise considerable profits away from fame. These traders have reached outstanding benefits and set precedents for traders around the world.
Let us introduce to you some of the most Famous Traders ever. Their lives show relevant examples of the best attitudes to develop for a trader: discipline, self-confidence and accurately calculated risks. Keep reading to find inspiration among these leaders:
Bruce Kovner was born in 1945 in Brooklyn, New York. At the age of 32, Kovner decided to take a credit card loan to make his first trade buying soybean futures. This deal got him 20 thousand Dollars. Kovner continued his forming as a trader in different commodities corporations, making millions of dollars in earnings while he was becoming a well-known professional.
In 1982 he created Caxton Alternative Management, which turned into one of the most internationally acknowledged hedge funds with assets that are superior to 14 Billion Dollars, huge profits and income from fees originated from Forex markets and commodity trading. When Kovner retired at the age of 66, already he had gone down in history as one of the most successful trader ever.
After a brief and successful period in Solomon Brothers, Krieger started to work in Banker´s Trust in 1986. Very quickly, he stood out as a brilliant trader, so the company increased the capital assigned to him from 50 million dollars to 700 million dollars. On October 19, 1987 this bet got a remarkable result.
Krieger identified that the New Zealand dollar (NZD) was sensitive to selling, because of a global bad expectation in financial assets. He took the maximum leverage (400:1) over his trading limit and made a selling position greater than the New Zealand currency stock. This exceptional deal earned $300 million for Banker´s Trust. The next year, Krieger quit the firm with own profits of 3 million dollars.
Bill Lipschutz began to trade when he was a student at Cornell University by the end of 1970. He achieved $250 thousand dollars from an initial capital of $12 thousand dollars, but he lost it at all after using a bad trading strategy. Nevertheless, he did not forget that lesson, and joined Solomon Brothers in 1982 while working on his MBA degree.
In the early 1980’s, the Forex markets were in vogue. This was the exact moment when Lipschutz joined Solomon´s foreign exchange division. In 1985, he netted $300 million and held the position of the principal trader for Solomon´s massive Forex account until 1990. Since 1995, Lipschutz has developed as director of portfolio management at Hathersage Capital Management.
Born in 1930, George Soros had a remarkable financial career that began in London, in 1954, after leaving Hungary during Nazi Occupation in the middle of the Second World War. In 1970, he created Soros Fund Management, with benefits that overcome $40 billion since then.
His international fame came on September 16, 1992, when he worked as a trader in the Bank of England, and sold 1 billion dollars in British pound getting a net profit of 10 billion dollars. This event is recalled as Black Wednesday, because this trade forced to eliminate the currency limit of the European Exchange Rate Mechanism. Since that moment, Soros is known as one of the most important traders ever. In fact, his fortune is among the thirty biggest in the world.
Stanley Druckenmiller grew up in a middle-class family in Philadelphia. In 1981, he founded Duquesne Capital Management, after four years of successful work as a management trainee at a Pittsburgh bank. Between 1988 and 2000 was in charge of Quantum Fund, also he managed money for George Soros and was accomplishing his trading career.
Druckenmiller worked together with Soros on that famous trade on September 16, 1992. Since that moment, his international fame began, which was enhanced by an article published in 1994 in “The New Market Wizards”. In 2010, he announced his retirement and closed his firm recognizing the exhaustion derived from the constant pressure to keep his outstanding and famous profession.
As we can conclude from the previous lines, these five prominent traders have some characteristics in common, such as self-assurance, hardworking and the ability of taking risks successfully. So, there is no difference if you choose Forex or binary options trading, these stories should inspire you to make your own success in trading!
This post first appeared on Mastering The Stock Markets With Quiet Fortitude A, please read the originial post: here