After knowing that George Soros is one of the successful world forex traders, let’s continue our discussion about world forex trader success stories that will inspire you.
Bill Lipschutz
Bill Lipschutz is very committed to risk management and the number of lots traded. This started from the beginning of his trading journey while still studying at Cornell University in the 1970s.
At that time he had succeeded in developing his portfolio from the US $ 12,000 to the US $ 250,000 but soon lost it entirely. This incident gave him important lessons about risk management.
Lipschutz began his career in asset management named Solomon Brothers and earned the US $ 300 million per year in 1985. His career continued to climb until finally in 1995 he was appointed as managing director of the portfolio.
He is often referred to as the “Currencies King” because of his trading success.
Here are some of the principles of successful forex trading a la Lipschutz:
Trading must be based on a logical basis.
Open trading positions according to market direction and close positions correctly.
Don’t panic when market conditions change.
Pay attention to what is the focus of the market.
The foreign eye market is available 24 hours even when you sleep.
Bruce Kovner
Bruce Kovner was born on February 25, 1945, in Brooklyn, New York. As a child, he was one of the active and outstanding students.
Got a scholarship and studied political economy at John F. Kennedy University even though he did not succeed in completing his Ph.D. studies.
His trading journey began in 1977 on the soybean futures exchange with a credit card loan capital of US $ 3,000. The transaction had brought him a profit of US $ 40,000 but there was high market volatility until the price dropped and the remaining profit was the US $ 23,000.
This first trading experience gives experience about the importance of risk management.
Kovner subsequently worked in an asset management company named Michael Marcus who is now part of Goldman Sachs (one of the largest banks and fund managers in the world).
According to Investopedia, Kovner obtained the task of managing funds through forex trading. With his trading performance proven to grow consistently, in 1982 he founded Caxton Alternative Management (CAM) to manage large-scale investor funds.
Until now his assets are about US $ 14 trillion and has not received new investors since 1992. Since 2011 Kovner decided to retire from his position as CEO at CAM and devote himself to being a philanthropist.
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