There are many meanings of success in various aspects of daily life. Similarly, in the world of forex trading, many subjective definitions of success. Each trader has many definitions of success each.
There is a trader who thinks if his forex portfolio consistently grows in 1 year then he has been successful no matter what happens with his account in the future.
Other traders assume that successful traders mean “trading for living” alias can support themselves fully only from the profits of forex trading without working with an institution or running another business.
On the other hand, there are also traders who feel successful if they succeed in proving their portfolio to grow in the long term and can share their knowledge with ordinary people and can be equally profitable.
Let’s look at some of the profiles of world successful forex traders :
George Soros
Born on August 12, 1930, in Budapest, Hungary with the full name György Schwartz. Besides being a successful trader in the world, he is also a philanthropist and political activist in America.
By struggling to live independently through working part-time as a “coolie” at the train station to a nightclub waiter. All this he went through to finance his studies at the London School of Economics in 1947.
After graduating from college, George Soros had difficulty applying for various jobs in London. Finally, after various rejections, Soros was accepted to work at Singer & Friedlander and experienced a significant career improvement in the future.
With a good career capital, he can expand his career to the land of Uncle Sam. In 1970, he officially created Soros Fund Management and became one of the successful investors in the United States.
George Soros became popular after successfully conquering the Bank of England in 1992. Even that day was called “Black Wednesday” on September 16, 1992. Where he managed to record a profit of 1 trillion Pounds Sterling in GBP short positions worth 10 trillion GBP.
Until 2018, George Soros’s assets reached US $ 8.3 trillion. When interviewed by The Wall Street Journal media, Soros revealed the principle of his success, namely:
“I became rich because I knew when I was wrong.”
This sentence is practiced by Soros also in trading, he dares to cut loss when he realizes that his position is wrong.
Read more : Forex Trading Strategies for Gainful Results
