Forex trading is complicated and cannot be learnt in an instant. However, getting rich in trading is possible, especially to those who are willing to devote their time, study relevant strategies, take risks, and invest their resources. It takes guts to win the obstacles in trading.
Be inspired with three of the most successful men and women in the forex market and learn how they made it to the top.
George Soros
Recognized as the “Man who destroyed the Bank of England,” Soros became one of the most famous trade figures when he managed to raise more than $1 billion in 1992, following a quick transaction of $10 billion worth of pound sterling. The bold gamble resulted in one of the biggest and most devastating incidents in the history of trading. From being a Nazi survivor, Soros became the leading businessmen in the world.
This situation, also remembered worldwide as the “Black Wednesday,” occurred when the currency traders did not believe that the British government would raise the investment earnings on their currency reserves, forcing the traders to keep purchasing the Pound Sterling at a lower price. Soros grabbed this chance and with $10 billion leverage to their short position, causing the British pound took a dangerous nosedive and later removed itself from the European Exchange Rate Mechanism (ERM).
Dennis Richards
Dennis, popularly described as the “Turtle Dealer,” was known to frequently outshine written stories about his revenues as he can immediately reap what he invested. At an early age , Richards demonstrated a talent in earning profit which he does by collaborating psychological methods in his businesses. Because of that, he was able to be among Wall Street’s well-known merchants, beside the title of Soros.
Dennis’ father lent him $1,600 when he was 20 years old. He invested that money in trading and grew into $200 million in a just span of 10 years. After inviting and training diverse traders into his squad, he enabled “turtles” or beginner traders to flourish in the similar industry. This involves having women and young people in the team, which did not resonate with the Chicago trading standards at that time. Through this, he was able to make it clear that even if you’re an inexperienced trader with limited or zero forex trading background, you can still achieve your goals.
Raghee Horner
Influenced by her mother, Raghee Horner entered the trading industry at a very young age as a part-time job in high school. There, she realized that she has promising marketing skills which pushed her to pursue that career. Torn between law school and trading, Raghee chose the latter because of the endless opportunities it could give her.
She has dedicated more than 30 years of her life in the investment market, making her among the most influential women in the industry. What made her rise to the top is her own method-inspired strategy that lets investors locate a forex advantage, which centers mostly on analyzing market patterns.