Forex trading is the process of buying or selling or exchanging different currency pairs, commodities, stocks and securities in the Forex market. Forex trading is risky as some traders lose their hard earned money due to bad trades by making wrong trading decisions while some other traders make huge profits from it. The traders who make huge profits from Forex trading and have raised their standards to international stardom are known as the king of Forex trading.
King of Forex Trading – A Unique List
Here, we are sharing a unique list of traders who are really the masters and kings of Forex trading.
George Soros is undoubtedly the king of Forex trading who has the most legendary figures in the history of Forex trading. He is also recognized as the world’s best currency trader of all time.
He is quite popular for using his incomparable understanding of economic trends to identify disorganizations and inefficiencies of the market and exploit them with highly leveraged trade positions.
He was born in 1930 but he got his fame in the year 1992 when he made more than $1 million profit by short selling the British Pound. He also earned the title of ‘The man who broke the Bank of England’ and that day is known as ‘Black Wednesday’ in the history of trading.
Though he is 92 years old, he is still quite active in the Forex market. He is a real inspiration for all the traders. Currently, he is focusing on his philanthropic work.
Stanley Druckenmiller is one of the successful portfolio managers of all time who earlier worked for George Soros as a Chief Strategist in his firm named ‘Quantum Fund’ for more than 10 years. He was also involved in Bank of England trade in 1992 with George Soros.
He was born in 1953 and started his financial career as a Management Trainee in 1977. After three years, he started his own Company ‘Duquesne Capital Management’ and he led to success quite quickly. He also got popularity when his name was published in the best-selling book ‘The New Market Wizards’ in 1992.
His trading strategies mainly focus on maximizing the trading opportunities at the right time and minimize the losses in bad situations. Currently, his net worth is approximately $3.1 billion.
Bill Lipschutz was born in 1956 in New York, America and he started his trading career in the late 1970s. He is a renowned Forex trader across the globe.
The trading journey of Bill Lipschutz is quite inspirational for all the traders. He is famous for his $12000 investment (inherited from the death of his grandmother) in trading that turned into a huge amount of $250,000 and then he lost his entire amount of $250,000 by making a single wrong trade decision.
After this huge loss, he started working with Solomon Brothers in 1981 and successfully established the firms’ Foreign Exchange Division. He used his trading strategies, skills and past experiences to make an average profit of $300 million per year.
Bruce Kovner is an American philanthropist who was born in 1945 and has a net worth around $6.2 billion. He is a successful hedge manager of all time and also known as the king of Forex trading.
He started his trading journey at the age 32 years when he bought Soybean Futures Contracts by borrowing money from his credit card and made a huge profit of $22,000.
He started his own firm Caxton Associates in 1983 and turned it into the world’s best macro hedge funds with more than $14 billion in assets.