The Most Successful Forex Traders Stories

If you are an experienced trader or a complete beginner in the forex industry, you are probably curious to know who are the most successful highest-earning traders in the world and how much have they earned by trading, right?

I completely understand why you would want to learn about these people. After all, one of the best ways to improve your trading strategies, as well as your way of thinking is to learn by example.

And what better way to do so, than to find out which are the two greatest most successful forex traders in the world. So, let’s take a look at the be professional traders.

Steven A. Cohen

This person has achieved outstanding success as a forex trader. Steven Cohen is not only an investor, but he is also a hedge fund manager and philanthropist.

As one of the most prosperous traders on Wall Street, Cohen is the Chairman and Chief Executive Officer for Point72 Asset Management. Forbes ranked Steven Cohen at the 8th highest-earning hedge fund managers of 2018, as well as at the 36th wealthiest man in the world.

Steven Cohen was born in Great Neck, New York, in 1956. He grew up in a Jewish family among seven brothers and sisters. His mother was a part-time piano teacher, and his father was a dress manufacturer.

Cohen graduated with a degree in economics from Wharton School at the University of Pennsylvania. Also, he opened a brokerage account with $1,000 through the help of a friend.

When Steven Cohen was 21 years old, he got a job on Wall Street as a junior trader in the options department at Gruntal & Co.

The future billionaire made $8,000 in profit on his very first day on the job. Just a few years later, his earnings were ranking $100,000 a day. A couple of years later, Cohen was managing a $75 million portfolio and a team of six traders.

At the age of 35, Steven Cohen started his own company called S.A.C. Capital Partners with $20 million from his own pocket. As of 2009, the firm managed $14 billion in equity.

In 2006, Steven Cohen was dubbed the “hedge fund king” in a Wall Street Journal article, ranking 94th in Time’s 100 lists of most influential people the following year.

In 2008, Steven Cohen suffered first losses during the financial crisis. His firm lost nearly $150 million, or 1.5% of its assets overnight. 

In 2013, Cohen faced civil charges for failing to prevent insider trading in S.A.C. Capital Advisors. After pleading guilty to these violations, he paid a $1.8 billion fine and agreed to stop managing funds for clients until 2018. Also, he was prohibited from managing money for outside investors for 24 months.

During those two years, Mr. Cohen was planning a comeback strategy. Once the ban expired, he hired a marketing firm to meet with prospective investors. He also registered a new fund, called Stamford Harbor Capital, in 2016.

In 2017, he was at one of the hedge fund industry’s most prominent conferences in Las Vegas. And in 2019, Steven Cohen is netted an incredible US$12.8 billion in earning for 2019 and is considered to be one of the most successful highest-earning traders in the world.

George Soros

This name is one of the most recognized names in the forex industry, and we are all familiar with. He is a legendary hedge fund tycoon who managed client money in New York from 1969 to 2011 and is one of the greatest investors in history.

George Soros is a Hungarian-American investor and philanthropist, and he is the founder of Soros Fund Management, LLC.

Soros has a net worth of $8.3 billion, and he has donated more than $32 billion to his philanthropic agency, Open Society Foundations. Also, George Soros is ranked 60th on the Forbes 400 list of the wealthiest in the world in 2018.

In 1930, George Soros was born in Hungary. He immigrated to England to study economics at the London School of Economics. His first job was an entry-level position at a merchant bank called Singer & Friedlander. Soros then applied at a brokerage house FM Mayer of New York as an arbitrage trader. He later got a job as an analyst of European Securities.

In 1970, he founded Soros Fund Management and became its chairman. Since the 1970s, George Soros has been active as a philanthropist.

In 1992, he sealed his reputation as a legendary money manager by reportedly profiting more than £1 billion from his short position in pounds sterling. Britain was a part of the Exchange Rate Mechanism (ERM) at this time.

In the weeks leading up to Black Wednesday, George Soros build a strong position short of sterling, and to do so, he used the Quantum Fund. When the UK announced its exit from the ERM and a resumption of a free-floating pound, the currency plunged 15% against the Deutsche Mark, and 25% against the US dollar.

As a result, the Quantum Fund made billions of dollars, and Soros became known as the man who broke the Bank of England. He risked $10 billion and made $1 billion in a single day.

George Soros has shown a keen appreciation of risk/reward and is one of the best forex traders in the world.

Bottom Line

Steven Cohen and George Soros are two of the biggest Forex successful traders in the world. There are undoubtedly many other names worth mentioning as well as following their footsteps.

Keep in mind that even if you use their successful trading strategies and techniques, your success is not guaranteed, because different approaches and methods work for different people.

However, you can learn from their victories as well as losses. Becoming a professional trader is certainly an achievable goal, but you will need to do it your way. If you are a beginner in forex trading, you can read this article: “Simple Steps: How to Become a Professional Trader”