Forex for a trader
Billionaire from forex

Billionaire from forexMillionaires in forex. There are many who have made their fortunes in forex. The biggest haul in history is how Gorge Soros made his fortune. No. 1: George Soros Vs. The British Pound. In 1992 British pound exchange rate versus other European currencies was fixed by the bank of England. In order to maintain that value, the bank set their interest rate at a high level, similar to the one offered by Germany. However Germany's high interest rates were appropriate for a robust economy in need for a cool down to prevent a spike in inflation. Britain was in the opposite situation, with its economy in the doldrums. A Hungarian immigrant spotted this situation, decided that it was unsustainable and sold short 10 billion pounds. He made 1.1 billion US dollars.

His name is George Soros. No. 2: Stanley Druckenmiller bets on the Mark - Twice. Stanley Druckenmiller made millions by making two long bets in the same currency while working as a trader for George Soros' Quantum Fund. Druckenmiller's first bet came when the Berlin Wall fell. The perceived difficulties of reunification between East and West Germany had depressed the German mark to a level that Druckenmiller thought extreme. He initially put a multimillion-dollar bet on a future rally until Soros told him to increase his purchase to 2 billion German marks. Things played out according to plan and the long position came to be worth millions of dollars, helping push the returns of the Quantum Fund over 60%. Possibly due to the success of his first bet, Druckenmiller also made the German mark an integral part of the greatest currency trade in history. A few years later, while Soros was busy breaking the Bank of England, Druckenmiller was going long in the mark on the assumption that the fallout from his boss's bet would drop the British pound against the mark. Druckenmiller was confident that he and Soros were right and showed this by buying British stocks. He believed that Britain would have to slash lending rates, thus stimulating business, and that the cheaper pound would actually mean more exports compared to European rivals. Following this same thinking, Druckenmiller bought German bonds on the expectation that investors would move to bonds as German stocks showed less growth than the British. It was a very complete trade that added considerably to the profits of Soros' main bet against the pound. No. 3: Andy Krieger Vs. The Kiwi.

In 1987, Andy Krieger, a 32-year-old currency trader at Bankers Trust, was carefully watching the currencies that were rallying against the dollar following the Black Monday crash. As investors and companies rushed out of the American dollar and into other currencies that had suffered less damage in the market crash, there were bound to be some currencies that would become fundamentally overvalued, creating a good opportunity for arbitrage. The currency Krieger targeted was the New Zealand dollar, also known as the kiwi. Using the relatively new techniques afforded by options, Krieger took up a short position against the kiwi worth hundreds of millions. In fact, his sell orders were said to exceed the money supply of New Zealand. The kiwi dropped sharply as the selling pressure combined with the lack of currency in circulation. It yo-yoed between a 3% and 5% loss while Krieger made millions for his employers. One part of the legend recounts a worried New Zealand government official calling up Krieger's bosses and threatening Bankers Trust to try to get Krieger out of the kiwi. Krieger later left Bankers Trust to go work for George Soros. Situations like the one described before are not a black swan of the past. The press is filled with stories of currencies overvalued being restored to fair value; in the recent European crisis forex players brought the value of the Euro down when it was overvalued (from 1.3654 on April 14 2010 to 1.1925 on June 8, 2010, - 12.7% and back up again when it was oversold (from 1.1925 on June 8, 2010 to 1.3276 on August 6, 2010, + 11.3%). Central bank intervention to reach a desired value have not disappeared either, as the recent actions of the central bank of Japan and the central bank of China show. Predicting a fall or an increase is not a question of luck only, disciplines and strategies based on technical analysis help to understand short term fluctuations of a currency, while fair value measures, such as the Big Mac Index, help to spot currencies that are away from their underlying value and that will converge to that price in the long run. How to become a millionaire with FOREX. The Foreign Exchange or FOREX is the largest market in the world. The biggest traders on the currency exchange market are governments, banks, and corporations.

More money is traded on the FOREX in one hour than is traded on the New York Stock Exchange in one day. With all this money flying around it isn't hard for some of it to land in your pocket. Currency trading is very simple in comparison to the NYSE. FOREX only has about 30 currency pairs vs. the NYSE's universe of thousands of stock offerings. In FOREX trading, currencies like the dollar and the euro are paired with each other in order to produce a buysell option to the trader. How FOREX Trading works. When you're playing the FOREX market there are two choices: buy or sell. Since there are only about 30 or so currency pairs(example: British Pounds vs U. S. Dollars or Euros vs Swiss Francs) the market isn't very wide. A normal trade goes something like this: Say that 1 euro is worth $1.30 U. S. . From this price you can either buy euros, hoping it will go up higher, or sell euros, hoping it will go lower vs the dollar. When you make your trade you buy or sell in 'lots'. A lot is a larger block of money that your brokerage is offering a piece of. The overall size of a lot is not relevant to trading FOREX accounts because you determine what price to put on a currency price move. Since currency prices move very slight amounts the pennies are sub divided into 'pips'. These are hundredths of a penny in the case of the USD-EUR pair. So using our example earlier; the Euro is worth 1.3000 and it goes up to 1.3025, that's a move of 25 pips. When you place your trade a pip can be worth 1 penny, 1 dollar or even more. That 25 pips could be worth 25 cents, 25 dollars or more.

When you close your order the money is yours. Simple. Setting up a FOREX account. The are dozens of online FOREX brokerages. These brokers make trading FOREX simple fast and easy. I am a fan of one called IBFX but most of the brokerages are the same with a few slight differences like deposit methods and minimum balance. I would look at a few before deciding to open a live money account. Once you've decided on a broker you'll download an account interface program, sort of like a control panel. These programs allow you to monitor all aspects of the currency markets from real time charting, to news headlines, to your trade execution.

FOREX interfaces can monitor your trades and even automatically place them for you. Without these great programs trading online wouldn't be as fun. When trying out any FOREX online broker always open a demo account and get a full understanding of their software and client relations. I prefer my broker be located in the United States, that way I retain at least a slight amount of recourse-ability. Develop a system of Expert Advisers. Expert Advisers sound like people who tell you how to trade, but in reality they are automated trading programs that execute trade for you. Expert Advisers are computer algorithms that are programmed to read a certain market condition and execute a trade in response. They can be extremely profitable but you must understand that Expert Advisers are like golf clubs: They work as long as they are used under the correct FOREX market conditions. Expert Advisers are easy to find. Many are published for free and available in your FOREX Interface program. There are also independent programmers who are perfecting entire systems of FOREX trading centered around these Expert Advisers, they charge hundred to thousands of dollars for these simple programs. The idea behind the big price is the promise of big returns. Surprisingly some of them work extraordinarily well. I am a firm believer that it is very easy to make money on the FOREX.

The hard part seems to be keeping it once you've made it. Since FOREX accounts are based on how much money you put into them, there is always a chance that a bad decision can wipe it all out quickly. Very turbulent market moves can happen with major banking news, like an announcement of a government bailout. This can send a currency pair rocketing hundreds of pips. To avoid losing all you money you need to use money management. Money management is the practice of not leaving yourself exposed to wipe outs on the FOREX. The easiest form of money management is to take your profits and move them into a separate FOREX account. That way if account A is wiped out account B still has your profits. Sort of like blackjack except in FOREX the odds that you'll win are much higher so the same bet over and over is actually a smart idea. Try a demo account for the FOREX.

If you make money with the demo account, you will make money with a live account. I once put $250 into a FOREX account and had $1600 within a week. Solid money management and modest daily goals will make you a FOREX Millionaire in no time. Billionaire from forex. . , - . , - , . . , , , , , , , , . , , , , , . , - ? , - , , . , , . , ? , , . . , , , . , , . , . : . , . , , . . - , . , . , . , . , , . , 2000 , 20000 , . - . -, . , , . : , . , . , ! . 1969. Quantum ( -). Quantum . – , « » – . , , . – . 1965 . , . . . 5 , . , . ( ), . . , . , , . – . 18 , , 12415 $ 2 $. 2003-2006 «Barclays» . « : 2 ». , . , . : - . 70- . , , 400 , 200 . , . , . , , , . , . 21 : , ? : . , , , - , . , . FXFINPRO CAPITAL . , . . Can You Really Become a Millionaire from Forex Trading? There are some questions that are frequently asked by novice traders: How much money can I make through Forex trading every month?

How many trade setups will I have every day and how many pips can I make every month? Can I start with a $100 account and grow it to a million? … Among all the frequent questions, there is one question which is asked by some novice traders more often: Can I Become a Millionaire through Forex Trading? I have two clear answers for this question and I explain about each of them in details: Making lots of money through Forex trading is completely dependent on some special conditions. When someone has the proper conditions, he can make millions through Forex trading. When he doesn’t have the proper conditions, he will do nothing but wasting of time and money. – What Are Those Conditions? You can increase your wealth and become richer through Forex trading and become a millionaire or even a billionaire. However, if you are among those who want to turn a $500 or even a $5000 account into millions, then I have to tell you that you will have a hard time. I am not saying that it is impossible to make millions with Forex. Anything is possible in this world.

However, you have to be patient, because it can’t be done overnight, or even in one year. You will be faced with some challenges that finding a good broker that doesn’t cheat you, is the biggest one. Forex brokers don’t let you grow your account consistently, because in most cases, your profit is their loss. – Forex Is Not a Get-Rich-Quick Scheme. Currency trading is not an easy way of making money and making a living. It is the same with the stock trading and all the other kinds of tradings and investments. To make money consistently through Forex trading and maybe to become a millionaire finally, you have to pass some important stages. There are so many jobs that you can follow and become a millionaire. It is not the job that has to make you a millionaire. It is “you” who has to follow the job properly to become a millionaire.

For example, there are so many millionaire real estate agents and brokers in big cities like New York. However, there are a lot more agents who cannot even cover their monthly expenses in the same cities. All agents are in the same areas, have access to the same markets and customers, ruled under the same jurisdictions, use the same advertising media and… . But, how can some of them become millionaires, and most others fail to have even one sale per month? Whatever the reason is, it has nothing to do with the real estate business itself, because it is the same for all the agents and brokers. The reason is in the agents and brokers behavior, life and work style. – Behavior, Life and Work Style. Forex trading is like that too. It possible to become a millionaire through forex trading, as it is possible to become a millionaire through stock trading, programming, marketing, importing and exporting, constructing, and… The more important question is “how?” There are two things that you have to do to become a millionaire Forex trader: 1. First you have to learn and master the trading techniques. 2. You have to have a reasonable amount of capital to invest in the Forex market. You can’t become rich through growing a $500, $1000 or even a $10,000 account. It is not even possible to make a living through such an account, whether you master the trading techniques or not. I’ve never seen even one single retail Forex trader who has become able to become rich or millionaire through growing a small account with a retail Forex broker. Even I’ve never seen a Forex trader who has been able to make a living like this.

There is no consistently profitable and professional currency trader who trades through the retail Forex brokers. You have to have enough capital to trade currencies through a bank account. And, as the bank accounts are not leveraged, your capital has to be reasonably enough. Those who don’t believe in what I explained above, can spend some time and money on retail Forex trading through the retail Forex brokers. I am 100% sure that they will remember what I’ve explained above, and will be back to this site after losing a lot of money and wasting a lot of time: Trading Strategies Don’t Work If You Don’t Choose the Right Living Strategy. How Can You Become a Consistently Profitable Forex Trader? Unlike what most people think, it is not possible to start making money right after learning the Forex trading basics and a trading strategy. There is something very important that most people don’t consider: To learn how to trade Forex, become a consistently profitable trader and hopefully a millionaire, first you have to have a source of income that supports your currency investment. I mean you have to have an income that covers your expenses and leaves you some free time to sit at the computer and learn how to trade with peace of mind.

Unfortunately, you can’t make any money through Forex trading and any other kinds of trading when you HAVE TO make money and you have financial problems. – False Forex Success Stories. Most people think that they can learn to make money through Forex trading within a short time, and become a full-time Forex trader who makes thousands or even millions of dollars. This is is not true at all. There are so many false Forex millionaires stories over the Internet. Be careful not to be deceived by them. None of the real millionaires or billionaires, like George Soros, have made their wealth through full-time Forex or stock trading: How Did George Soros Make His Money? They are experienced business people who make a lot of money through several sources of income they have. Then they invest a portion of their wealth in currency, stock, real estate… markets to increase their wealth: A Short Term Investment Strategy That Makes You a Millionaire. This is how they’ve become millionaires or billionaires. None of them have achieved this through full-time Forex or stock trading and with retail brokers. Therefore, if you like to become a millionaire, first you have to have a good source of income that makes a reasonable amount of money that not only covers your expenses, but also leaves some money for your trading and investments. Then you can start learning how to trade. You have to keep on learning and practicing until you become a consistently profitable trader. There are two ways to do that.

– The Hard and the Easy Way. One way which is the harder and in most cases the impossible way, is following too many trading strategies, robots and time-frames, and sitting at the computer for several hours per day. That is the hard way which can hardly take you to your destination. The simpler and easier way is learning the Forex trading basics, and then a simple and strong trading strategy. Then you have to master your trading strategy through demo trading. When you succeed to make profit consistently for 6 consecutive months at least, you can open a small live account and start practicing with it. If you can make profit consistently for 6 consecutive months with your live account too, the way you could make profit with your demo account, then all you have to do is that you keep on trading with your live account to grow it. However, you will be faced with another problem at this stage which is finding a good broker. Unfortunately, it becomes harder every day to find a reliable broker. Finding a broker that allows you to grow a small $5000 account into a reasonable amount of money, is not that easy, and is one of the challenges that you will be faced with when you want to become a millionaire Forex trader. However, there is a solution for this problem. – You Need a Source of Income. Forex trading is not a full-time job. It is not a business as well. It is an investment opportunity. You should already have an income to become able to invest in the currency market. You can keep on making money with the source of income I explained above, to save a reasonable amount of money to open a bank account and start trading with it. Trading through a bank account will have a lot more advantages compared to trading through Forex brokers.

(Please refer to the articles I listed above.) The only problem of trading through a bank account is that you have to have a lot of money because banks don’t offer any leverage. Therefore, to become able to trade through a bank account, you have to have a lot of money already. That is why I emphasized on having a strong source of income earlier in this article. You can’t become a millionaire Forex trader without a good income and backup. Turning a small $5000 account into a million dollar account is possible theoretically. You can do it slowly and surely when you become a consistently profitable trader and you have enough patience. However, Forex brokers don’t let you do that in reality. Because of the same reason, we have some programs to help our followers to create a reliable and strong source of income while they also learn how to trade Forex. While they are learning to become consistently profitable Forex traders, they create a good source of income through the other systems we introduce (learn more here). When they become a consistently profitable Forex trader finally, they have enough money to open a professional live Forex trading account with a bank to trade professionally and grow the money they make. This is how they can become a millionaire Forex trader while they also have some other good sources of income to support their Forex and stock trading investments. So, the answer of this question that whether it is possible to become a millionaire through Forex trading, is in the facts that I explained in details above. Be careful not to be deceived by the scam mentors or brokers that encourage you to open small $100 or $500 accounts with the high leverages like 500:1 or even 2000:1 that some market maker brokers offer these days, to turn your money into millions within a short time. They are there to make money from your losses, not to make you a millionaire.

Just before you go, did you check This System? Make sure to do it now, otherwise you will regret. Read related articles: + Click Here to learn who we are and why this site was created. + Click Here to receive our eBook for free. Hi Chris What are your thoughts on NZDUSD daily as a forming trade? I think the market is exhausted; strong break of BB; if current candle closes as strong bullish this looks a strong long entry. This is my first day of reading the charts per your strategy, so would welcome your comments. Thanks. Welcome to LuckScout. The pattern is not strong enough so far. Let’s see how the current candle will close. I was thinking about the same thing as Adam about NZDUSD, but NZDUSD just broke monthly support and has not really moved down yet, so I am not sure. Chris, about USDCAD, for the last bearish setup you scored it 98. There is another one forming in daily chart. Hi Adam & Stanley, Both the latest setups you guys mentioned on Nzdusd and usdcad are not strong setup.

Will be dangerous if we enter ?? Hi Chris , This is my 1st comment on luckscout .. thanks for the gold valued articales.. i m still reading on ur articales . As “Adam” mentioned above where we can see lower bollinger band breakouts On the NZDUSD ? even 14022017 & 15022017 candles are not in enough breakouts for strong trade setup …. 17022017 candle also bit strong for bearish .. Please correct me if i’m wrong .. Thank you, this article is another big motivation for us. I would like to ask you about NZDUSD, I think on monthly time frame we are on support line, and on daily – nice bullish engulfing are forming with strong LBB breakout, but we must wait for closed. Chris, I opened a short position on NZDUSD based on the DBB system on the weekly timeframe. Now, a bullish engulfing pattern is formed at the daily chart. I do no think that this setup is strong mainly due to the candle’s long upper shadow. However, what does this mean for my already open position? Should I close it due to the presence of the long setup (although weak) ?

Today most of my open positions (based on DBB) hit the SL. When I looked back I saw that in most cases there was a weak (no BB breakout or weak candles) setup formed with the last two candles. Please consider this as a general question. I have read many times your strategy for maximising profits by opening two positions. Do you use a weak setup as an indication that it is time to close the second open position? The upper shadows of the daily candlesticks tell me that Bears still have the control. So the price can go lower. However, holding or closing of the position is your own choice and is what you have to decide about. > Do you use a weak setup as an indication that it is time to close the second open position? When the position has made a good profit, yes. But when the trend is strong and the weak setup is just formed as the first reversal, then I hold the position.

As others have mentioned the USDCAD is looking like a potential trade but seems to have 2 negative points. Long tail on the second candle which seems to be because it is stuck on the middle band on the 4hr chart. It also seems like USDCAD still has a bit of steam behind it, with a constant zigzag in an uptrend movement. So far it doesn’t look like a 100 gauge trade. You are right. So far USDCAD has not formed a 100 setup. Uptrend is still too strong. Very nice article. Thanks for the motivation. I thought today would throw up some strong trade setups across a few of the pairs. But as we approached the close, many of the candles developed long shadows which voided most if not all the setups. I can’t see any strong trade setups on the daily charts, although we may get a few from the yen crosses on the weekly very soon. Do you agree?

Or have I missed a pair? I don’t see any 100 setup either. Seems like AUDJPY is about to touch 50 day moving average. Although MA is not steep but might have long setup ? 50SMA direction is good. We have to wait for the price to retest and forms a buy signal above it. hi chris, just want to know if i should double my demo account before i go into live account? or i just have to be positive for 6 months ? You have to be able to repeat your success consistently and consecutively for 6 months. If you double your account in this process, even better.

However, depend on your trading style, you can make for example 5% profit per month which is great. You have to repeat the 5% profit every month for 6 months at least. If so, your account will not be doubled, but you have repeated your success consistently. This is what you have to do. Hi Chris, thank for the sma50 system. It is really simple to understand but to use it in trading need some guide and practice. Last month there is no 100 score set up, is it normal for your point of view? You are welcome. It happens rarely that a month comes and goes with not even one 100 setup. Fruitful months will always come. We will share more strong trading systems little by little that enables the traders to have trade setups every month. I located a triangle pattern on EURJPY 4H and it broke above resistance line, it went up but then it went down recently. I located 2 SR Lines (closed price & highlow price), but I got confused whether this pair has broken the support line (which shows that the resistance line wasn’t valid), or it’s just currently retesting the broken resistance line?

I know I can wait to see how it goes later, but I guess something similar will happen again one day so I would like to hear an opinion from an experienced trader like you. Thanks a lot Chris! Support lines look OK, but the resistance line doesn’t look like a valid resistance, because the second point that you used to plot the line is too far from the first point and it is not chosen from a strong high. The high has to be stronger. In spite of this, the upward movement was not that bad. We cannot expect to see a too strong trend forms after each breakout. Reference to the resistance line: So when you say “the high has to be stronger” means candle need to be big regardless of whether its bullishbearish. Also, as you can see market actually reacted to these lines. I originally thought that as long as market react to your lines it is valid. It is not only the matter of the candlesticks size. Several candlesticks has to participate in creating a high or a low. The “peak” and “valley” has to be strong and more visible than the other highs and lows. Price can react to any line, as weak trade setups also make the price move accordingly. But we wait for the too strong trade setups to have a higher success rate. Therefore, we have to follow the strong lines too. Thank you Chris. It sounds like LuckScout will be alive for quite some time. I am sure to follow till the last day!! Thanks once again. Thank you too Ted. thank you so much sir for your priceless lectures.

my question is this: how were you applying the lot size(s) to grow the $1000 account to multi millions in five years, in the use “this calculator” you published. i found that info extremely helpful. please i would appreciate your reply. thank you sir. You are welcome. The lot size is not considered in that calculator. It merely calculates the balance and monthly income based on the monthly profit a trader makes. This is great, but almost every trader say it’s impossible to make more 3%month, is it because they have too many lose trade due to over-trading or because they find little opportunity to trade in a month? How do you know that they are traders? Thank you for this article and your motivation words ?? I believe it’s possible to become a millionaire trading , with accurate education and discipline as taught by Mentor Chris. Thanks Boss Chris, God bless you. Hi Chris, what advise will you give to someone who is dying to join the Millionare’s Club but cannot because the ?99 per month constitutes almost 35% of his monthly income?

Thanks for your good works. Sorry to hear that the monthly fee is not affordable for you. Of course it is not ?99. It is $99 ?? We will think about a solution for people like you. Thank you for following us. You made a comment about brokers not letting you make a lot of money trading. How do you feel about futures and your strategies. CME and the futures markets are a lot more regulated in the US. My CM account is being closed so I’m researching where to open a new account. Experience have proven that regulation can’t prevent the brokers from cheating the clients. Therefore, you’d better to start with a small account to test the water first. It was very depressing news when I heard on Feb 9 that CM is being forced out of the US markets. I have an account with them since Jan 2016, not a long time, but they seem to be okay and their spreads are pretty good – much better than those of. com (a subsidiary of GAIN Capital) where the accounts will be transferred. Now retail traders in the US have even fewer choices while the remaining brokers rejoice over the demise of one of their largest competitors so they can consolidate even further. Goldman Sachs was recently ordered to pay a $120m fine by the CFTC for attempted manipulation and false reporting of ISDAFIX benchmark rates, a global benchmark for interest rate products. Wells Fargo was caught late last year creating millions of fake accounts for their customers so they could charge them fees. I don’t remember much happened to Wells Fargo as a consequence of such frauds other than the CEO testifying before Congress and some employees fired. I don’t think what CM did was worse than what Goldman and Wells Fargo did, but the big banks got off with not even a slap on the wrist while CM was forced to close up shop in the US. Where’s the standard in enforcement when apparently the regulators can do whatever they want and not have to account for their actions? Too bad CM, like most businesses in the US, does not have people in high places, or they didn’t make the right donations, and the result is they can lose everything overnight that they have spent years building.

Join Our 24,000+ Loyal Followers & Receive Our eBook For FREE Now! Click Here to Enter Your Email Address and Check Your Inbox. Join Our 24,000+ Loyal Followers & Receive Our eBook For FREE Now! Click Here to Enter Your Email Address and Check Your Inbox. 225 . wrayjustin Trading Pennies for Dollars FXMarketMaker Professional Trader Hot_Biscuits_ Models and Bottles spicy_pasta RichJG Financial Astrologer El_Huachinango MOD finance_student Prop Trader AutoModerator » the front page of the internet. and subscribe to one of thousands of communities. 3 robing_hood. Want to add to the discussion? –wesRobAndSin Professional Trader 5 6 7 3 (43 ) –gruberexn gooby plz 0 1 2 3 (1 ) –wesRobAndSin Professional Trader 0 1 2 3 (0 ) – deleted 0 1 2 3 (40 ) –wesRobAndSin Professional Trader 0 1 2 3 (39 ) – deleted 1 2 3 3 (38 ) –wesRobAndSin Professional Trader 1 2 3 3 (37 ) –wesRobAndSin Professional Trader 2 3 4 3 (33 ) – deleted 0 1 2 3 (3 ) –wesRobAndSin Professional Trader 0 1 2 3 (2 ) –_---__---_ 0 1 2 3 (1 ) –wesRobAndSin Professional Trader 0 1 2 3 (11 ) –wesRobAndSin Professional Trader 0 1 2 3 (14 ) –Parker_72 1 2 3 3 (0 ) –gruberexn gooby plz 0 1 2 3 (0 ) –chukka101 1 2 3 3 (3 ) –nigger2014 3 4 5 3 (0 ) –chukka101 2 3 4 3 (0 ) –gilroy_cz 0 1 2 3 (3 ) –_---__---_ 0 1 2 3 (2 ) –dornstar18 0 1 2 3 (1 ) – deleted 6 7 8 3 (0 ) –watersign Live Trader 0 1 2 3 (0 ) –masudhossain Seasoned Trader 0 1 2 3 (4 ) –masudhossain Seasoned Trader 0 1 2 3 (2 ) –mattchambers4199 Market Analyst 0 1 2 3 (0 ) –mussabb 0 1 2 3 (0 ) – deleted 0 1 2 3 (0 ) –nigger2014 0 1 2 3 (0 ) – deleted 0 1 2 3 (0 ) Reddit for iPhone Reddit for Android mobile website. , . © 2018 reddit . . REDDIT and the ALIEN Logo are registered trademarks of reddit inc. ? Rendered by PID 20302 on r2-app-0d6788d32efb832ed at 2018-08-25 17:27:08.679408+00:00 running b1939d2 country code: UA. 10 Richest Traders in the World. With more than 20 years of experience in financial service industry, James is our Senior Global Strategist and the co-producer and presenter of easyMarkets educational videos. When he is not working on educational programs or preparing webinars, you can find him with the easyMarkets team giving seminars around the world. In today’s article we are going to look at 10 of the richest traders in the world. You will more than likely recognise some of the names in this list, with high flyers like Ray Dalio and George Soros featuring prominently. The top 25 highest-earning hedge fund managers and traders actually saw a significant drop in profits in 2014, but they still managed to rake in an impressive total of $12.8 billion between them.

So without further ado best take a look at the rundown of the 10 richest hedge fund managers and traders in the world today. 1. Steve Cohen. Numero uno in today’s list is Steve Cohen, who netted an incredible $1.3 billion in earnings for 2014. Cohen is the Chairman and Chief Executive Officer for Point72 Asset Management, which is where he converted his invested operations to from S. A.C. Capital Advisors, L. P. in 2014. 2. George Soros. Soros is a name we are all familiar with, and as the founder of Soros Fund Management, LLC he amassed $1.2 billion in earnings for 2014. 3. Ray Dalio. Ray Dalio, the founder & Co-Chief Investment Officer of Bridgewater Associates has technically tied for second place with George, again accruing an equally impressive $1.2 billion in 2014 earnings. 4. William Ackman. William Ackman, founder and CEO of Pershing Square Capital Management, L. P. is the first of our next three hedge fund contenders, each of which earned $1.1 billion in 2014. Bitcoin.

5. Ken Griffin. Ken Griffin is the founder of Citadel LLC, a adding $1.1 billion to his hedge fund portfolio last year. 6. James Simons. As founder of Renaissance Technologies Corp., James Simons has earned $1.1 billion for the company throughout 2014. 7. Larry Robbins. The remaining hedge fund wizards on today’s list earned no more than roughly half of what the top performers did for 2014, but with $600 million in profits for Glenview Capital Management, Larry Robbins is still one of the major players in the finance world. 8. Andreas Halvorsen. Viking Global Investors should be quite pleased to have Halvorsen on their payroll because he netted them $550 million last year. 9. David Shaw. With a total of $400 million in earnings for the year of 2014, David Shaw continues to take his company D. E. Shaw & Co., L. P. to new heights.

10. David Tepper. David Tepper is another member of the 400-Million Club, proving to be an undeniably valuable asset for Appaloosa Management. There are certainly plenty more hedge fund superstars around the world but these 10 investors have proven their worth above everyone else. If you would like to up your game in your own investments then you may almost certainly stand to learn a few things from these guys! The World's Finest Marketplace. FOREX traders like to call their speculations as smart predicts. Usually, patterns on the currency values can be derived from how the politics of a specific country is running. For instance, if there is a plan to oust the president, most probably the value of that country’s currency will go down—how low, we don’t know. There are still a variety of factors to consider as to why a currency is going strong or not. Improvement on the tourism can bring more foreign investments.

This will be good for a particular currency, but this may affect how the other countries are doing. These are just trade scenarios. As the old saying goes, "one man’s medicine may be another man’s poison." One country’s good tidings may be another country’s downfall. That is why in FOREX trading, another principle to live by is to be aware of the national news in the country concerned. Current events have a huge say on the economics of a country. Let me remind you of another great principle of billionaire wealth creation. If everyone is going in one direction, go the other way. This rule applies to FOREX and other areas of life. You won’t ever get rich by doing the exact same thing as the crowd. Besides buying low and selling high, follow this last secret.

Money makes the world go round, but if one is truly serious about earning several million in FOREX trading, one essential principle is - invest in a FOREX trading training school. Learn from the professionals first and conquer the world afterwards and you might just join the ranks of billionaires. elcome to the world's most amazing forex systems. Billionaire Forex is the organisation where the elite and most financially successful individuals of modern times come to for the world's best forex knowledge, to be entertained and enjoy a lifestyle of luxury. We bridge the gap between your dreams and desires and provide you with the tools to make them a reality. Billionaire Forex proudly brings you a host of informative television shows, a university, fragrances, billionaire liquor, music labels, private shopping services and access to some of the most exclusive products and services in the world. Join now and reach the Pinnacle of your success with Billionaire Forex. Besides the more obvious hard work and diligence and always saving little by little in their piggy banks, the really rich people know how to work up the foreign exchange. Fundamentally, foreign exchange trading or simply FOREX trading is just the buying and selling of the world’s currencies. Money today is not the same as money tomorrow. Money has time value. The worth of a currency can go up or down. There is one principle that FOREX traders live by and it is "buy low, sell high.

" Don’t ever forget that rule. However, the trick is to know when to buy and when to sell. In FOREX trading, everything is by speculation. Sure, there are graphs to help decisions. Business pages also give out strategies for foreign exchange but the next step is a gamble based on the results of previous actions. Successful Forex Traders And Other Rags To Riches Stories. Posted by D 559 days ago Category: Millionaire Traders. I will admit that I really wanted to do an article about successful Forex traders and their stories but finding them online was virtually impossible. Even the currency traders that defined themselves as real millionaires could not back that up with any audited statement of their trading account. A quick note on “millionaire trader” claims. One prominent trader posts pictures of fancy cars and vacation.

The issue is that most of his money is made from selling courses, not trading. Is that to say there are no success stories about trading Forex? No. There are claims but in the end it depends on what you define as successful. Do you need to make millions to be a successful FX trader or is being able to pay the bills and have money left over for the finer things in life enough for you? I can say this though, successful Forex traders or any trader for that matter that has success, has much in common with others who are successful . There is probably a very good reason why you have not obtained any level of trading success that you can be proud of. It could be anything from not having an edge to simply being under-capitalized. Whatever the reason is for you, you can start by adopting the habits taken from the true stories of traders who are successful. Successful Trading Stories Start By Doing Things Differently. We are all built the same. It’s what we do with what we have that will make your story one of success or one of failure. The successful traders you emulate are in line with what I have written for you below. Why Do You Trade? This is the probably the most defining factor of success. What is your motive? Is it for the thrill? Is it to be right?

Is it because you love the challenge? Whatever your reason is for trading, be very clear on why you open the charts every day. Having a very in depth “why” behind your trading can keep you on track when the going gets tough (or so good you want to double your position size). Make it your mission statement. Define Your Trading Edge. What is it that makes you have a positive expectancy trading method? Can you explain why your method of trading should produce positive returns? If you are unable to define what your edge is, then you do not have one. The people who make money (sometime a lot of money) know exactly what their edge is and why it should give them positive returns over time. Are You Your Own Thinker? In most interviews of proven successful traders, they will tell you that they are independent thinkers. They don’t look to Twitter, the trading forums, they don’t phone a friend….everything they do if from their own opinions and fall in line with their trading edge.

They understand they don’t know the motives or techniques of other traders so to follow blindly is simply a recipe for disaster. Be Confident In Your Trading Edge and Ability. You will never see anybody that’s at the peak of their game being tentative when they do what they do. They understand what they DON’T know but act swiftly on the things they do know. They trust themselves and their ability to make the needed decisions in accordance with their trading plan. If you lack confidence, you will lack the ability to execute either to enter a trade, stop out of a loser or take your profits when the market shows you the exit. They Understand Losing Traders Are A Part Of Doing Business. Interesting enough, I had read an interview where the trader said he never takes a loss or a win. He simply takes the outcome of his trading edge and moves onto the next. What a great way to think! We will never know with 100% certainty whether our next trade will win or lose. All we can do is apply our edge when the time is right and let the random distribution of wins and losses play out over time. That is it. They Don’t Trade With Scared Money.

This simply means that the money they have put up for the position is money that if the lose, will not prevent them from paying the bills. They don’t NEED to win because they know that is fruitless. They don’t need to not NOT lose because that is fruitless as well. Any loss will not change their decrease their lifestyle as a win will not increase it either. Desperation will reward you with losing your account. Hard Times Is A Time For Growth. Success is never a straight line. While there may be the outlier, most people will have a two steps forward one step back journey to success. During the times of struggle are the times the discipline to stick to your proven edge will become effort. In adversity strength is born and if you can walk through the fire as many times as you must by not getting burnt (a blown out account), you have much better odds of reaching the success you seek. Real Millionaire Trader Stories. Now, I got to admit, this is not the classic rag-to-riches story but on the other hand, when you think about it, it is, when you compare how much each trader is now worth compared to when they were just starting out to build their wealth. So in that sense, these are Rags-to-Riches story of how ordinary people became billionaire (millionaire) traders.

And like most people, many of you will quickly assume that: They may have had a lot of money in the bank to start with in the first place They head good start in life… maybe they were born into rich families… A few of them grew up in middle class families and some of them did not. Most of them did not start trading with a lot of money. They even had some funny jobs in the first place to start with One trader was actually a New York Taxi Cab Driver before becoming rich…as in billionaire rich. A lot of these millionairebillionaire traders did not rise all the way to the top. It took some years of hard work and persistence. Some even considered giving up trading altogether after either wiping out their trading accounts or almost losing most of it. These traders definitely put in the hard work. If there’s anything the learn from these amazing traders, this would be it: you can turn a small amount of money into millions (or at the very least make a darn good living). Even if you don’t reach the level of these traders, do your best to make your own trading success story by hitting your goals. #1: ALL IT TOOK WAS A $12,000 INHERITANCE FROM HIS GRANDMOTHER…THAT WAS THE START TO MAKING HIM FILTHY RICH. This is one man who would be very thankful to have had lovely grandmother. But on the other side is a bit funny too…Imagine spending 5 years of your life studying at university for a degree and then leaving the degree collecting dust on the shelf and now you are doing something entirely different from what you studied for? Wouldn’t that be crazy? Well, not really according this this story.

You see, if that man above had taken the path of his degree, he wouldn’t be a billionaire today. Who is this man? Well, Bill Lipschutz is your man! You see, Bill Lipschutz was studying to be an architecture in Cornell University when his grandmother died leaving him a portfolio of shares of around $12,000. Bill sold all of it and used this money as his risk capital to start trading the stock market whilst he was still a student. He started trading the stock market using this money and years later when he started working for Salomon Brothers, he started trading the Forex market. But here’s the thing, Bill Lipschutz eventually graduated, not with one degree but two degrees. Well, he got his architectural degree but he also ended up studying a lot of business courses and ended up getting and M. B.A. The thing was, he never practiced as an architect. It was his second degree that paved his way to secure a job with Salomon Brothers. Bill Lipschutz said that he never remember making a decision to be a trader. The thing was he did not want to be an architect. It was a gradual process until trading literally took over his life. What happened to the $12,000 trading account? Well, he increased it to $250,000 in 4-5 years. But a bad trading decision he made cost him dearly. That $250,000 account which took 4-5 years to build up was blown up in a couple of days .

That huge loss was a very important learning experience for him. There is no clear information of what Bill Lipschutz net worth is currently but I wouldn’t be surprised it would be up there in the hundreds of millions of dollars. Bill Lipschutz is also reputed to have made $6 million dollars in 6 hours trading the New Zealand Dollar in September 1985 with one of his co-workerstrader. In other spectacular trade, he made $20 million trading the Japanese yen in 1987. Also there was on trade in 1988 where where where was short on D-Mark by $3 billion (The official currency of Germany until it adopted the euro in 2002. D-mark is an abbreviation of Deutsche Mark). He was caught out (on the wrong side) and with no liquidity during the New York Trading Session when the Dollar started increasing against the D-Mark and he couldn’t bail out of his large short position and when price went up by 1%, he was in deep freaking trouble. To put this in perspective: one percent of $3billion is $30million. So Bill Lipschutz was staring at a $30million loss in just 8minutes! At one point during that trading session, that loss started to increase and he was staring at a $90 million loss. Eventually he managed to close off this trade with an $18million loss for the day during the Tokyo Session came and the dollar started sliding down. Compared to the $90 million loss, that $18 million loss seemed like a winner.

This was a guy that was trading huge contracts that sometimes moving the currency markets just by his huge orders. What’s the lesson here?: there are many people in this life that end up going to universities just to get educated and get a degree and then don’t even end up doing the jobs that they were educated for. And there may be many reason for that. But here’s the thing: if its not in your heart, you won’t last long. Sometimes it may take a while before someone finally figures out what he want to do in life. Bill Lipschultz ‘s net worth is unknown but here’s what Wikipedia had to say about how much he was making whilst working for Salomon’s Brothers: He was considered to be amongst the top five of all Forex traders worldwide. By 1985, Lipschutz was making $300 million per year for Salomon Brothers. #2: HE TURNED $2,000 INTO MILLIONS. I can’t find a picture of this guy! Honestly! So if you find a picture, please let me know.

I bet you’ve never heard of this millionaire trader. And maybe its for a good reason because this guy likes to maintain a low profile (that’s why I can find a picture). But here’s the thing: If there’s any futures trader who can take $2000 and turn it into a millions, Randy McKay would be the one. An excerpt in The New Market Wizards by Jack Schwager, from Randy McKay: “In 1970, I returned from a tour in Vietnam. Since I didn’t finish school before I left for Vietnam, I needed a job that would allow me to go to school at the same time. My brother, Terry, was a floor broker on the Chicago Mercantile Exchange. He got me a job as a runner on the floor, which allowed me to work in the morning, attend school in the afternoon, and study in the evening. I worked as a runner for a couple of years with absolutely no intention of getting into this business. I was studying to be a clinical psychologist. Just as I was finishing college, in 1972, the CME launched a subdivision, the International Monetary Market to trade currencies. When the exchange started the IMM division, they sold seats for only $10,000 in an effort to try to get bodies into these new trading pits and gave away free seats to all existing members. As a member, my brother had no particular need for this seat at the asked me if I’d like to use it in the interim. He gave me the use of the seat and lent me $5,000. I put $3,000 in the bank to pay my living expenses, and used the $2,000 for my trading account.” In the first seven months of trading, he turned that $2,000 into $70,000. And each year he continued to make more money than the previous year . And he was trading in the trading floors at that time.

Then one day he decided to leave the trading floors and start trading from home. By his second year from trading from home, he made his first $1 million. And tell you what? He continued to increase his trading account every year until 1986 when he suffered his first trading loss for the year. If there’s anybody who would get a medal for consistency in trading, it would be Randy Mckay. Its been reported that Randy Mckay has been profitable for his own trading account 18 out of 20 years. Not much is known about Randy Mckay’s net worth but one thing is for sure: it won’t be under $10million. What the lesson here? Well, you can turn $2,000 trading account into $70,000 if you are consistent like cutting your losses and making more than you lose. #3: HE COULD HAVE BEEN KILLED DURING WORLD WAR II BY THE NAZIS. If there was one trader who was born at the wrong place at the wrong time, but somehow ended up being the 29th richest person in the world with a new worth $24.2 billion as of April 2015 according to Forbes. I don’t think there is any trader out there that can break the record of this man who made more than $1 billion dollars in profit in one single day! That guy is called George Soros. Here is a his brief story: He was born in 1930 in Budapest and survived the Nazi occupation of Hungary during World War II. Seriously, those bloody Nazis could have killed him! Anyway, he left the war torn Budapest and managed to make his way to England and Graduated in London School of Economics in 1952. In 1956, he emigrated to USA and later he took a job working as a financial analyst and trader in New York.

In September of 1992, George Soros risked $10 billion on a single currency speculation when he shorted the British pound. His bet was right, and in a single day the trade generated a profit of $1 billion – ultimately, it was reported that his profit on the transaction almost reached $2 billion. Because of this he is often referred to as “the man who broke the Bank of England.” What made George Soros so successful in taking large bets like that that made him billions? Well, here’s your answer: George Soros was a master at translating broad-brush economic trends into highly leveraged, killer plays in bonds and currencies. As an investor, Soros was a short-term speculator, making huge bets on the directions of financial markets. He believed that financial markets can best be described as chaotic. The prices of securities and currencies depend on human beings, or the traders – both professional and non-professional – who buy and sell these assets. These persons often act out based on emotion, rather than logical considerations. He also believed that market participants influenced one another and moved in herds. He said that most of the time he moved with the herd, but always watched for an opportunity to get out in front and “make a killing.” How could he tell when the time was right? Soros has said that he would have an instinctive physical reaction about when to buy and sell, making is strategy a difficult model to emulate.

So if you think there is a trading strategy that George Soros uses and you’ve been searching for it the forget it! What’s the lesson here?: It does not matter what country or what conditions you faced in life as a child growing up. If you have a little bit of decent education and saw an opportunity to make money of that knowledge and you work hard, you’d get somewhere, just like George Soros did. #4: THE NERDY TRADER WHO MADE MILLIONS BY USING COMPUTER TRADING PROGRAMS. Now, not much is known about how much this guy shown above net worth is but it should be in the multi millions I believe. His name is Ed Seykota. He is a commodities trader, who earned S. B. degrees in Electrical Engineering from MIT and Management from the MIT Sloan School of Management, both in 1969. He is reported to be the first to conceive and develop the first commercial computerized trading systems. You make rightfully call him the computer nerd who became a multi-million dollar trader. Not much is currently know about is net worth but if rumors are true, he certainly deserves to be called a trading success story. What’s the lesson here? Computers can do your trading. You just have to find the right system and code it and watch it churn in billions! (just kidding). But on a serious note, yes, you can make money by using computer programs which trade on your behalf but the important thing in my opinion is to use the right trading method that works in a given currency pair. Ed is still active today in what is called The Trading Tribe.

Ed is a firm believer that emotions and knowing yourself is the cornerstone of a successful trading career. #5: HE WAS ONCE A TAXI CAB DRIVER BUT NOW HE’S WORTH $5 BILLION. If you are a taxi driver and and thought you can never become a billionaire, well, you should be motivated to know that there was once a person like who driving taxis to make a living and his net. worth is now $5 Billion according to Forbes April 2015! And just to think that there are some people alive today that have been taxied around by this billionaire trader? Well…he wasn’t actually a billionaire back then but he was a taxi driver. He had some turbulent childhood as well and it must be tough for him as His mother committed suicide. He started trading with $3,000 and used that to trade the soybeans futures contract and that trade saw him made a paper profit of $40,000 and then when his profits started to drop, he bailed out with only $23,000. He panicked and sold it. He said that the was a good lesson for him in risk management. Who is this man? It’s Bruce Kovner.

As of Feb 2017, Bruce Kovner’s Net Worth is $5 Billion . Not bad for a former taxi driver. What’s the lesson here? Well, it does not matter what kind of job you are doing right now. Give a shot a trading. You never know where you will end up in the end. Your past careerjob does not determine who you will be in the future. #6: HE WAS A STREET SELLER…A KID WHO GREW UP SELLING NEWSPAPERS, MAGAZINES, COCA-COLA AND BUBBLE GUM DOOR TO DOOR WHO BECAME THE WORLD’S BEST INVESTOR. From an early age, he showed great interest in making and saving money…and that later translated to making him billions and many millions of dollars to many of those investors that invested with his company. You probably won’t recognize him from his childhood photos with his two sisters above. But you know what? His net worth now is $73.6 Billion as of Feb 2017 according for Forbes.

That kid above, who is now a insanely rich old man today is Warren Buffet! Here’s an excerpt from Forbes: Warren Buffett is wealthier than ever thanks to the stellar performance of his diversified holding company, Berkshire Hathaway. Its coveted Class A stock, which is the most expensive of any public U. S. company, eclipsed $200,000 per share for the first time in August 2014. Buffett moved to 3rd richest on Forbes’ 2015 list of the world’s richest, up 4th richest in 2014. With dozens of subsidiaries, including in railroads, insurance and energy, Berkshire Hathaway posted $182 billion in 2013 revenue and $19.5 billion in net income. Still inking big deals, Buffett’s Berkshire Hathaway bought battery maker Duracell from Procter & Gamble in November 2014 for $4.7 billion. A generous philanthropist, he bested his own giving record in July 2014, giving away Berkshire shares worth $2.8 billion, primarily to the Bill & Melinda Gates Foundation but also to his children’s foundations, bringing his lifetime giving to nearly $23 billion. Buffett says his best ever investment was buying Benjamin Graham’s book “The Intelligent Investor” in 1949. He later studied under Graham before moving home to Nebraska and acquiring a struggling textiles company in 1962, Berkshire Hathaway. In early February 2015, it was the fourth most valuable public company in the U. S. with a market capitalization of $355 billion. #7: THE TRADING FLOOR CLERK WHO LATER BECAME A BILLIONAIRE TRADER.

Paul Tudor Jones. He currently has a net worth of $4.7 Billion as of Feb 2017 according to Forbes. He was born in Memphis, Tennessee. He finished high school and went on to University of Virginia, earning an undergraduate degree in economics in 1976 as well as his college welterweight boxing championship. In 1976, he started working on the trading floors as a clerk. Then later he became a broker. In 1980, he went strictly on his own for two and a half profitable years, before he “really got bored”. I mean, seriously? Did he got bored making money? Anyway…as the story goes: out of his boredom, he wanted to try something different: he then applied to Harvard Business School, was accepted, and was packed up and ready to go when he thought to himself: “this is crazy, because for what I’m doing here, they’re not going to teach me anything like this in Harvard. This skill set is not something that they teach in business school.” How right he was! Who is this guy? Its Paul Tudor Jones . He was advised to go down to New Orleans to talk with commodity broker Eli Tullis, who hired and then mentored him in trading cotton futures at the New York Cotton Exchange.

And this is what Jones later said: “Eli Tullis was the toughest son of a bitch I ever knew. He taught me that trading is very competitive and you have to be able to handle getting your butt kicked. No matter how you cut it, there are enormous emotional ups and downs involved.” That was just the beginning. Years later, he was a billionaire trader. What a story! #8: HE CAME FROM VERY HUMBLE BEGINNINGS…THIS TRADER MADE $3.7 BILLION IN A SINGLE YEAR IN 2007. This guy’s net worth is $11.2 Billion as of April 2015 according to Forbes. He really came from humble beginnings. Some people make a fortune in crisis. As a matter of fact, times of crises present great opportunities for wealth creation…that is, if you are prepared for it. This guy was definitely prepared.

This guy made $3.7 billion during the 2007 Mortgage Crisis. He is John Paulson . His prominence and fortune were made in 2007 when he earned $3.7 billion personally and was transformed “from an obscure money manager into a financial legend” by using credit default swaps to effectively bet against the U. S. subprime mortgage lending market. In 2011, Paulson earned “$4.9 billion” according to Business Insider. How did he make his fortune in 2007? Here’s how: he made a bet on the sub-prime mortgage crash in 2007 by betting against four out of the five biggest British Banks, many called it the greatest trade ever made. It made him a billionaire, making $3.7bn in a single year. Somebody else misfortune became his fortune. #9: THE HIGH SCHOOL POKER PLAYER WHO BECAME A BILLIONAIRE TRADER. This trader played poker as a high school kid. In fact, he said that playing poker taught him a good lesson about taking risks.

Risks can kill you or make you wealthy and for his case, it made him. Who is this guy? Its Steven Cohen. He opened up his first brokerage account with $1,000 of his own tuition money. At 22 he got a job as a junior trader for Gruntal & Co and on his first day he made $8,000. That was pretty much the star of his rise to become one of the world’s billionaire traders. Guess what his net worth is? Stephen Cohen’s net worth is $13 Billion as of Feb 2017 according to Forbes. I bet there aren’t many former poker players worth as much as this guys is! Good on him! #10: THIS TRADER HAS HIS GRANDMOTHER TO BLAME FOR HIS BILLIONS! There are many stories of grandmothers wrong influence on children. And this guy is not exception. In fact, his grandmother is to be blamed for this guy’s net worth as of Feb 2017 is $1.96 Billion! You see, his grandmother was a passive investor and big fan of Louis Rukeyser’s Wall Street Week television program. She instilled in him an interest in investing. His mother would later recall that young boy would sit with his grandmother reviewing and evaluating the performance of her stock picks in the daily newspaper. And that’s how Edward Lampert got hooked in trading as they say: “the rest is history.” So listen, mums and dads, its better to have your kids around granmas and granpas who can instill them an interest in investing. It may not only be in the areas of investing but in other areas in the life of you children to become respectable and successful men and women when they grow up. #11: HE STARTED TRADING IN HIS HARVARD SCHOOL DORM WHILE STILL A STUDENT. This guys net worth is $7.7 billion according to Forbes in Feb 2017.

Who is he? Ken Griffin. This is what Wikipedia has to say about this man: In 1986, Griffin started to invest during his freshman year at Harvard University after reading a Forbes magazine article. During his second year at Harvard, he started a hedge fund focused on convertible bond arbitrage. The fund was capitalized with $265,000 from friends and family, including money from his grandmother. He installed a satellite link to his dorm to acquire real-time market data. The investment strategy helped preserve capital during the stock market crash of 1987. Griffin’s early success enabled him to launch a second fund, and between the two funds he was managing just over $1 million. Griffin graduated from Harvard in 1989 with a degree in economics. Those were the beginnings to making billions years later. 12: HE WAS ONCE HOT DOG STAND SELLER IN COLLEGE AND A UNIVERSITY PHD DROPOUT BUT NOW IS IS WORTH BILLION$ This guy’s net worth as of Feb 2017 according to Forbes is $ 4.7 Billion. He is Stanley Druckenmiller . This is what Wikipedia had to say about him: He grew up in a middle-class household in the suburbs of Philadelphia. His parents divorced when he was in elementary school and he went to live with his father in Gibbstown, New Jersey and then in Richmond, Virginia (his sisters, Helen and Salley, would stay with their mother in Philadelphia). Druckenmiller is a graduate of Collegiate School, Richmond, Virginia. In 1975, he received a BA in English and economics from Bowdoin College (where he opened a hot dog stand with Lawrence B. Lindsey, who later became economic policy adviser to President George W. Bush).

He dropped out of a three-year Ph. D. program in economics at the Univers



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