Top 10 World's Most Famous Traders of All Time

Most financial traders quietly build their careers, but some have gained considerable popularity. Their stories are full of diligence, dedication, and patience. They are people with a power whose actions affect the whole industry.

There have been several famous traders who have moved into various professions in the past. We have the famous names of John Key (who served as the 38th Prime Minister of New Zealand) and Jimmy Wales (founder of Wikipedia).

However, this list is compiled by traders who are well-known traders. The lives of the world's most popular traders are colored by victory and tragedy, with some actions reaching mythological status in this sector.

Top 10 world's most famous traders of all time 

Jesse Livermore

Jesse Livermore (July 25, 1877 - November 28, 1940), author of "How to Sell Stocks" (1940), was yet known as one of the most famous merchants of all time. 

At its peak in 1929, Jesse Livermore was worth $ 100 million, or about $ 1.5 to $ 13 billion in current dollars, depending on the index used. 

Perhaps best known as the sale of short-lived US stocks before the 1929 crash, which increased his bank accounts to $ 100 million. Here is a yet  famous quote from Jesse Livermore:

"Only play in the market when all the factors are in your favor. No one can always play and win the market. There are times when you have to be completely out of the market due to emotional or economic factors."

George Soros

George Soros was born in Hungary (August 12, 1930) and is one of the most successful forex traders. 

He gained international fame when he invested $ 10 billion in currency trading in September 1992, devaluing the British pound. He was doing well, and one day the company generated $ 1 billion in revenue - eventually, it was reported that his transaction profit had nearly $ 2 billion.

As a result, he became known as the "man who broke the Bank of England." He was also a philanthropist, a political activist, and a writer.

Soros started in 1973 and founded the hedging company Soros Fund Management, which eventually grew into the well-known and respected Quantum Fund. 

It has managed this aggressive and successful hedge fund for almost two decades, whose annual returns are likely to reach more than 30% and, in two cases, annual returns of around 100%.

Here is a quote from Mr Soros:

"Brands are always in uncertainty and growth, and money is made by discounting the obvious and betting on the unexpected."

Warren Buffet

Warren Buffett (August 30, 1930), known as the "Oracle of Omaha," was one of the most successful investors. 

He leads Berkshire Hathaway, more than 60 businesses, including Geico, which produces the Duracell battery chain and the Dairy Queen battery chain. In addition, he promised to donate more than 99% of his assets to charity. To date, he has donated nearly $ 32 billion.

Here may be a lesser-known quote from Warren, but I like one:

"Opportunities rarely come. When it rains, put a bucket, not a thimble."

Jim Rogers

James Beeland Rogers Jr. (October 18, 1942) is a Chief Commercial Officer of American descent based in Singapore. Rogers, considered a reasonable investor in the business world, is also a financial writer and commentator. 

He formed the Quantum Fund global investment partnership with George Soros, another good entrepreneur.

Here is one of my favorite trading and investing quotes, courtesy of Mr Rogers:

"I'll wait until the money's in the corner, and all I have to do is go there and get it. I'm not doing anything yet. Even people who have lost money in the market will say." money, now I have to do something to get it back. "No, you don't. You have to sit there until you find something. "

Ed Seykota

Ed Seykota (August 7, 1946) sold as a follower of the trend and in 12 years turned $ 5,000 to $ 15,000,000 during his modeling account - an existing client account. Then, in the early 1970s, Seykota was hired as an analyst in a large brokerage firm. 

He invented and developed the first commercial computer trading system for managing clients' money in futures markets.

Here is a quote from Ed Seykota from The Market Wizards by Jack D. Schwager:

"The standards you read are usually useless because the market is already lowering the price, and I call them 'ridiculously minded.' Important to me are: (1) the long-term trend, (2) the current chart, and (3) choosing an excellent place to buy or sell. These are the three main components of my business. The fourth place was my basic ideas, and I probably passed them on in balance.

Richard Dennis

Richard J. Dennis (January 1949), a commodity speculator formerly known as the "Prince of the Pit," was born in Chicago in January 1949. He borrowed $ 1,600 in the early 1970s and probably earned $ 200 million in ten years.

Dennis and his friend William Eckhardt, best known for founding Turtle Traders, were a group of 21 typical people who learned their rules and proved that they were, after proper training, successful traders.

Here is a quote from Richard Dennis:

"I do - that means I'm starting against the trend. However, I don't think you should."

Ray Dalio

Raymond Dalio (August 8, 1949) was an American billionaire investor, hedge fund manager, and philanthropist. Dalio is the founder of the investment company Bridgewater Associates, one of the most significant hedge funds in the world. 

In January 2018, according to Bloomberg, he was one of the 100 wealthiest people in the world. Here is a detailed quote from Ray Dalia:

"I believe that the major problem facing humanity is the sensitivity of the ego to know when a person is right or not, and to recognize his strengths and weaknesses."

Stanley Druckenmiller

Stanley Druckenmiller (June 14, 1953) was an American investor, hedge fund manager, and philanthropist.

In 1988, George Soros hired Victor Niederhoffer to replace him at the Quantum Fund. He and the Soros famously "broke the Bank of England" when they devalued the British pound sterling in 1992, which reportedly earned more than $ 1 billion. 

They calculated that the Bank of England did not have enough foreign exchange reserves to buy enough sterling to support the currency. Therefore, raising interest rates would not be politically sustainable.

"I've learned a lot from him [George Soros], but most importantly, it doesn't matter if you're good or bad, but how much you get when you're right and how much you lose when you're wrong."

Paul Tudor Jones

Paul Tudor Jones' shorting (September 28, 1954) on Black Monday was one of the most famous deals ever. In his 1986 graph-based paper, Paul Tudor Jones correctly predicted that the market was on the verge of a collapse of epic proportions. 

It profited sharply from the collapse of Black Monday in the fall of 1987, the most significant one-day stock market decline in the United States (in percent) since then. 

Jones would triple his money by cutting futures and earning $ 100 million in trading, while the Dow Jones Industrial Average was 22 percent. It is a strange thing that remains with wealth when many others are eventually destroyed. 

He played it to perfection. As a result, his funds have had many solid returns. Here is my favorite quote from Paul Tudor Jones in The Market Wizards by Jack D. Schwager:

"That was the first time I decided I had to learn discipline and money management. It was a cathartic experience for me that I crossed the line, questioned my entrepreneurial skills, and decided not to give up. I was determined to come back and combat. I decided to be very disciplined and enjoy company over my business.

John Paulson

John Paulson (December 14, 1955) became famous around the world in 2007 by shortening the US housing market as he witnessed a subprime mortgage crisis and betting on mortgage-backed securities by investing in credit default swaps. 

Paulson's company sometimes called the largest company in history, made a profit, and he made more than $ 4 billion in that company alone. Here is a good quote from John Paulson:

"Many investors make the mistake of buying high and selling low when the exact opposite is the right strategy."

Important points to keep in mind to be a successful trader 

Learning to sell stocks successfully can be an impossible future for beginner traders; after all, most people who try will lose.

However, success is possible! Like in marathon training, success comes into your hands if you take the proper steps and have the right training. Success requires time, practice, focused effort, and a specific goal.

Yet, the path to becoming a successful trader is genuinely accessible to everyone and every lifestyle. However, I must fully emphasize that the key is you must be willing to devote time and effort to your training and preparation. Here are some of the rules to keep in mind:

Commit to learn

The stock pursues a goal, so take your first step to trade by deciding to see how you can sell the stock. Please do not ignore this step or take it lightly. Instead, take the time to think about why you want to learn about the stock market and what you can expect from it.

Get ready for work and study ahead. It will lay the groundwork for learning to trade and help you set goals later. 

Do your research

Now that you have finally decided you want to enter a trade market, it's time to figure out how to do it.

Instead, focus on the biggest things in life, such as learning more about the stock market. Maybe you should start reading how books work or sign up for my marketing challenge. 

Study the potential ways you can learn in the market and which learning methods will be most attractive to you.

Set goals

Set specific trading goals for what you want to achieve by becoming an entrepreneur. Is buying a big house on the waterfront or buying your friend's coveted engagement ring? The more specific your trading goals, the better the result!

Goals will help you start a business and help you gain motivation. In addition, you can change these goals based on your progress.

Find a guide

One of the major ways to make learning more effective is to find a mentor. It can be anyone who has more success in a business career than you.

Often, this individual will not only provide you with valuable knowledge based on your own experience but will also lead you to other resources that can help him.

Starting the first trade

So you learn the basics, you are accountable, and you have good leadership. At some point, it's time to get out of the nest and start flying. Start a small business. Explore the actions that offer the least risk and see what it's like to pull the trigger yourself!

Evaluate your progress

When you start trading, take the time to stop and find out what is right and wrong. Both aspects are equally important.

If you are doing something right, make sure you make a note of it so that you can continue to do it, focus more on it and be able to follow the path.

What are the main characteristics of good forex traders in the world?

It won't face losses. 

No forex trader is without losses. But there is a clear difference between how a novice trader loses and the best Forex traders lose.

Most beginners in the forex market see loss as a bad thing. It's a way to signal that they made a mistake.

However, a successful trader does not see loss as a "bad" thing. It's also not what the market does to you. The forex market does not know where you enter or where your stop-loss order is located.

Unlike you, the market is always neutral. So if you lose, it's about thinking about what you can do better.

They use the price action.

Every successful Forex trader we met uses price promotions one way or another. Whether the trader uses a gross price action or uses it to determine a significant market level, the price action plays an essential role in any strategy.

This is because it serves as a psychological representation in the market. It gives us some deep insight into the minds of other entrepreneurs.

They have a defined trading edge. 

The edge is how you do trading, which helps increase your chances.

It's an overall combination of the time frame you sell, the pricing strategies, the critical level you know, the risk/reward ratio, and other factors. It even includes your routine before and after trading.

They consider the risk.

Often these are the minor things in life that bring the most progress. The concept of thinking about money at risk, as it applies to Forex trading, is no exception. However, this is a much simpler concept that will significantly affect you becoming a leading Forex trader.

Many successful Forex traders are available without calculating their risk before placing a position.

They don't need money.

There are not too many guarantees in the Forex market. But one guarantee which I can give is that no successful Forex trader today will trade for the money he needs tomorrow.

In other words, Forex trading will get a certain amount of money in a certain period! No entrepreneur can withstand such pressure and be a steady income. Such an environment will only foster destructive emotions such as fear and greed.

Successful Forex traders know when they should walk away 

All successful forex traders know when to take a break. Those inclined to trade forex know how difficult it can sometimes be to get out of the market. However, it is essential to be a successful entrepreneur.

Walking can be even harder for business. Our emotions are high, and we often get the best out of ourselves. But that's precisely what makes leaving at this time so rewarding. 

Related Questions (FAQs)

Do forex traders pay?

However, with a decent profit and risk/reward ratio, a specialized forex day trader with a decent strategy can earn between 5% and 15% per month, thanks to leverage. Remember, you don't need a lot of capital to start; $ 500 to $ 1,000 is usually enough.

Is forex trading a gamble?

Forex trading is yet considered by many to be nothing more than gambling. Whenever you take a position in a particular currency pair, you are betting that the price will go up or down by taking a long or short position.

How long does it take to learn forex trading?

It usually takes an average of 1 year to learn forex trading. The technical side may be known in a few weeks, but understanding risk management and psychology take a year.

Is forex trading great for beginners? 

Forex trading can be complicated and may not be suitable for everyone. Whether forex is 100% good for you will depend on the overall financial situation, your goals, and how much investment experience you already have been a beginner.

Final thoughts

The stories of these reputable traders inspire us and prove once again that anyone can create wealth and gain financial security by selling stocks, currencies, commodities, or other financial instruments.

Do their stories inspire you? Maybe you're next on the list.