Even before computers, laptops and mobile phones trading has already been around. People used to trade by telephone, where they’d call in and make trades. But because of technological advancements, people can now trade using any device that supports WiFi.
But even before all the analytical tools, trading tools, free learning material and available active graphs, there were still traders that have been able to become successful in trading, successful enough that they become household names in the world of trade.
Famous traders today and before all started out like any other aspiring trader, kind of like you. So if you hope to become a successful trader in the future, then know that it’s possible! And if you ever feel discouraged, down below is a list of the most famous traders to look up to!
George Soros – Forex Trader
The founder of Soros Fund Management, George Soros was born in 1930 and is known as the “man who broke the bank of England” after making a significant profit of around $1 billion by shorting the British pound (GBP).
This was possible because of his outstanding skills in market speculation where he had to identify economic trends, market inefficiencies and more. A quote by Soros to live by is,
“I am only rich because I know when I’m wrong.”
So, a step closer to being a great Forex trader is by knowing when you’re wrong.
William Delbert Gann – Stock trader
The man who created the Gann theory, WD Grann is a famous stock trader that revolutionized the market with his exceptional contributions. Grann wrote and published articles, sold trading courses and of course, came up with the Gann theory.
His theory was based on trading methods where he used geometry, astrology and ancient mathematics. It asserts that one can utilize market patterns and angles to forecast future price movements for an asset.
Jesse Livermore – Stock trader
Livermore is famous for a lot of things, well, not only for his successes but also for his tragedies. Livermore was a successful stock trader but became a renowned trader when he shorted the 1929 market crash.
Following the incident, he was able to make a fortune that was around $100 million, which is $1.5 billion today. Around the turn of the century, he was a well-known stock trader. But all that went to shambles when we lost his fortune, rumor has it, it was due to his extravagant lifestyle.
And by 1934 he declared bankruptcy, ended two marriages and by 1940, he took his own life.
Stanley Druckenmiller – Forex trader
Someone who followed in Geroge Soros’ footsteps is Standly Druckenmiller. Over a decade, he worked alongside Soros at the Quantum Fund where his reputation slowly grew as an excellent trader.
His career skyrocketed when he founded Duquesne Capital where he handled billions of dollars in the forex community, making him one of the best Forex traders around the globe. And even prior to his retirement, his net worth was still believed to be about $3 billion.
A quote to live by Druckenmiller is,
“There are a lot of shoes on the shelf; wear only the ones that fit.”
That means, there are tons of ways to trade as well as markets to trade in, but choose only the ones that perfectly suit you.
Jim Rogers – International investor
Another trader that worked alongside Soros is the great “adventure capitalist”, James Rogers, Jr. a.k.a Jim Rogers. He makes it on the list due to his many achievements as a trader. To give you an idea, here’s a list:
- Was the chairman of Beeland Interests, inc.
- Was the chair of Rogers Holdings.
- Was the co-founder of the Quantum Fund.
- Was the co-founder of Soros Fund Management.
- Founded Rogers International Commodities Index (RICI).
- Was listed in the Guinness Book of World Records due to his travels from 1990 to 1992 which covered 160,000 km across six continents. Reasons as to why he is known as the “adventure capitalist”.
- The author of the best-seller, Investment Biker.
These are just some of his achievements over the years. Even today, Rogers is still active and contributing to the field of a trade by releasing books, guesting on News shows and more.
All these great traders have one thing in common and it’s not giving up! Each of them however offers a different lesson to learn, like Soros knowing when he’s wrong, Druckenmiller sticking to what works for him, Livermore teaching you to not spend more than you should, and so on.
Now you know a little bit more about these famous traders, consider using their life stories as a learning point for you as a trader.