The Most Inspiring Stories of Success in Forex Trading

If there is any business where one can make a lot of profits in a relatively short period of time, then foreign exchange trading is going to be one of such enterprises. The forex trading world is full of some very amazing stories of success from different parts of the globe. In this piece, we are going to focus on some of the most inspiring success stories that never fail to lift the spirit of upcoming forex traders:

George Soros

Unknown to so many people, George Soros is one of the most prosperous forex traders in the world. Even many of those who know he is a billionaire have no idea that he is into forex trading. In fact, he is considered by some experts to be the greatest forex trader ever. He started way back at a time when the Internet was not as prominent as today.

He became the stuff of legend when he gained more than one billion pounds in profits after he traded ahead of the Black Wednesday in September 1992. The trading was done by his Quantum Fund venture which borrowed British gilts then sold them and bought them again at lower rates. This made Soros every couple of minutes and they kept on repeating the transactions until Soros made one billion pounds by selling sterling that did not even belong to him. That move remains one of the most enchanting in the forex sector.

Stanley Druckenmiller

This American billionaire investor may not be popular but it will interest you to know that his success story as a forex trader is linked to that of Soros. As a matter of fact, Druckenmiller takes Soros as his role model. He worked with Soros at Quantum Fund for over ten years. Those years did not go to waste as he learned a lot along the way and with time, he was able to set up his own fund, named Duquesne Capital, worth billions of dollars.

Today, he has comfortably established himself as a force to reckon with in the forex world. With his smart decisions as a forex trader, he has managed to amass a personal fortune worth billions of dollars. He encourages other traders to become really active when there is an uptick in the sector.

Andrew Kreiger

There is no way the story of success in the forex world will be sufficient without talking of the legendary Andrew Kreiger. Known as one of the most bullish traders of his generation, he was able to get a trading limit of as much as $700 million when the conventional rate was $50 million. Yes, he was that good. When virtually all the markets were crashing in the mid-1980s, he quickly observed that there was an overvaluation with the New Zealand dollar and he quickly went for it. He hit a jackpot as his observation was correct and in a matter of hours, he made a profit of $300 million. Like Druckenmiller, Kreiger would also eventually work for Soros.

Inspiration to take home

These were just a few of the really inspiring stories in the competitive world of forex trading. If you are just starting out, you can also become one of the greats one day. Just be inspired and remain focused.