Forex traders avoiding the limelight is far from an anomaly, however, there are some of the proficient individuals that have defied all odds and reaped billions of dollars as profit by trading in the forex market so they can’t help but stay in the limelight, being an inspiration for thousands. Their hard work and dedication are an evidence of what can be achieved with a little determination.
To improve your skills and get a better understanding of the forex market, you can look into the paradigms that exist in the practices of these traders and use those strategies to your benefit. These experts have learned things the hard way, so why don’t you put their years of experience to your personal good use.
Like a wise man once said, “if you want to be the best, you must learn from the best”, Fuad Ahmed, the currency trading expert created this list of 3 forex traders to help inspire you to remain headstrong and get your dose of inspiration. While some are more hardworking than others, there is one thing that all of them have in common and that is they lead by example.
Scoring the rank number 30 on Forbes’ Ranking of Billionaires all over the world, and having the net worth of $8.3 billion today, George Soros is probably the most flourishing trader the forex market has ever come across.
George Soros was born in Budapest, Hungary on August 12, 1930. He has firsthand experience of World War II. He fled from his war-torn hometown and settled in England to seek refuge. He grew up in London, completed his education there, and graduated with a business degree from London School of Economics. Prior to establishing his own hedge fund, he gained expertise in the financial sector by working at banks.
With the expertise and revenue from his initial year from Double Eagle, Soros shaped his second fund, better known as, Soros Fund Management. Double Eagle was later named Quantum Fund, an establishment that has seen amazing highs in its lifetime. The company almost reaped 24.9 Billion in assets during his presidency. His second fund, the Soros Fund Management proceeded to make revenue of more than $40 Billion if we take into account the funds of last 50 years.
George Soros especially gained a lot of fame after he ended up making as much as $1 billion, and that too, in the matter of a day. Till date he is known as the man who almost broke the Bank of England after he transferred over $10 million outside of the country.
Not only is George Soros generously endowed, he is a charitable person who has donated money at every turn. Research shows that he approximately gave away $7 billion in his lifetime to charity.
Born in Pennsylvania to a middleclass family in 1953, Stanley Druckenmiller has the net worth of $4.8 billion today. Stanley ventured into the investment market in 1977 at Pittsburgh National Bank, where he swiftly moved from just an intern to the lead of the research in merely a year. Spending around 5 years in the investments industry gave Stanley enough experience to start his own organization, which was set up with the name of Duquesne Capital Management. He gained a lot of press from that point on, when he was entitled as the leader of the Dreyfus Fund and went so far as to work under George Soros at the Quantum Fund, contributing in the before-math of the event that caused the Bank of England to break. This accomplishment, earned him a lot of name, close by George Soros, and this popularity increased even further after his name was mentioned in the book “The New Market Wizards” which turned into a huge success.
But then later he went on and resigned from the hedge fund in 2010, referring to reasons that it wasn’t encouraging him to do his best and work to exceed his expectations. (Up until that point the hedge fund had been rounding up a usual uninterrupted 30% return yearly. Amid the period of his resignation, the organization was purportedly acquiring – 5% in returns.) The organization after this, healed from its losses and brought a little revenue, after which he reverted his customer’s investments and shut the hedge fund, confessing that the process of keeping up with his previous performances and record was taking a toll on him physically and psychologically.
Bill Lipschutz was born in 1956 and brought up in Farmingdale, New York. While his current net worth is unknown, he was making $300 million a year in circa 1980. He went to Cornell University and graduated with a Bachelor’s degree in Architecture from their expansive arts program, and then further went ahead to get a Bachelor’s certificate from the Johnsons School of Finance which is also in Cornell.
Around the time when he was in college, he acquired assets after his grandma’s passing, $12,000 worth of stock, which he traded in exchange for money. He started investing this cash whenever he had the time. He solely learned as much as he could about the money related markets from the library, and utilized this knowledge to make $250,000 from mere $12,000.
Although, this achievement was sadly brief, as one awful trading choice completely erased all of his profit, he used his mistake as a lesson, and this in turn only made him a better investor in the future.
Lipschutz started working for Salomon Brothers while he was pursuing his MBA, after which he joined the new foreign exchange division. He became a part of the group that Salomon Brothers created for their brokers to learn money trading, and it helped them gain a lot of success.
He decided on an early retirement from Salomon Brothers, however this retirement was short lived as he got out of it and started working with the Hathersage Capital Management as Director of Portfolio Management since 1995.
So those were our 3 top picks out of the famous forex experts. While we believe there are thousands of forex traders that have truly outdone themselves, the works of these 3 are absolutely commendable.
With skepticism surrounding the credibility of cryptocurrency now overcome, the market has stepped ahead from being in the acceptance stage to the stage of mainstream application. One of the factors through which this is illustrated is with the security feature that it provides which is not only unbreachable but unmatchable too. However, this is just one factor out of the pool of features which cryptocurrency provides its users with. Another factor that we feel should be mentioned here is that numerous goods can be traded over it. However, over the past couple of years the waters of cryptocurrency have been anything but steady. Not many brokers felt patient swimming in these unsteady waters, but investors at large believe that cryptocurrency is the currency of the future and even though it is fluctuating now, it is going to see more stable times in the future.
Most real estate agents are realizing the potential of cryptocurrency in international property markets. An international real estate platform which goes by the name of Propy powered by blockchain creates a space for brokers, sellers and buyers to come together and take part in international selling and purchasing of property. The platform Propy has created is quite applaudable as it is an attempt to ease the barriers that come in the way of purchasing property abroad. With Propy the traditional problems that are faced by people like transferring the money abroad to purchase property and credibility of the seller have lain to rest. Previously, it was never the norm to buy high value assets such as property through digital currency, and nor people would make such deals without having a face to face interaction first, however, with the help of blockchain that has been changed.
With a little help from smart contracts, tangible assets such as land and houses can be tokenized and easily traded on the platform by using the famous currencies like bitcoin or ether. Platforms backed by blockchain eliminate the need for an intermediary to come and mediate the transaction between two parties. This also removes a lot of hassle and save both parties a significant amount of money. Needless to say, the benefits of blockchain technology in the real estate market are many and they make the market efficient by a tenfold if not more. Real estate transactions in international markets through blockchain is especially relevant when talking about monetary issues and where digital trust needs to be established.
Cryptocurrency for real estate especially appeals to real estate investors as for them the fluctuation of fiat money can be quite frustrating as the prices of it are dependent upon government regulated laws. However, cryptocurrency is much more stable as its prices are solely dependent upon the demand and supply. In addition to that, when real estate is used as the hard asset to back the cryptocurrency it becomes even more sturdy.
Tokenization vs other real estate investments
If you have experience operating in a real estate market then you must know all too well about the long and burdensome tasks that need to be done in order to acquire a property. The traditional real estate market requires you to deal with brokers, complicated documents and heavy fees. Even then, we can’t say that it is completely transparent or risk free. However, the upside of utilizing asset-backed digital currency is the instant and unmediated retrieval of the property that streamlines the whole process and cuts down the cost by eliminating the mediator. These asset-backed offerings also enable you to invest in multiple properties simultaneously to have a more diverse collection of assets which isn’t that easy in traditional real estate trade.
Famous real estate agencies which are especially known for serving international investors are constantly proclaiming that they allow the use of cryptocurrency. These agencies are geared towards achieving two main goals: being in the spotlight for foreign investors and to capture the market of homegrown cryptocurrency enthusiasts who are looking for an opportunity like this.
Cryptocurrency enthusiasts should not be overlooked by the real estate agents as it has been estimated that they are cryptocurrency fans with a major portion of their savings invested in cryptocurrency already.
It is predicted that within next 5 – 10 years all real estate transactions will be done through a blockchain powered platform by using cryptocurrency. It has become almost crucial for real estate agents who keep up with the technological trends to start experimenting with cryptocurrency and even start offering it as an alternative currency. As for real estate brokers looking to attract a different demographic, they can advertise the willingness to accept cryptocurrency for assets. This will really help them stand out and enable them to attract a completely different pool of people which will result into a much higher profit for them.
Tokenized assets combine the old world, more conventional property acquisition advantages, for example, rich insurance and creation with the new advantages of liquidity— representative of the modern world. As cryptocurrency turns out to be more typical in our everyday exchanges because of the spread of blockchain innovation that makes these exchanges straightforward, real estate brokers should focus on how their potential accomplices see digital money. Picking up on the know-how of the advantages of tokenized property investments will before long be a topic everybody in the world will know about.
We believe it is safe to say that perhaps the most commendable use of blockchain is its incorporation in the real estate market. Since cryptocurrency is transparent it removes doubts at both ends of the transaction and both the seller and the buyer enjoy peace of mind. This is especially relevant in an international market where people have barriers between them such as language, laws and customs. Cryptocurrency provides a safety net to people from these laws and ensures that people can have a safe, reliable and quick international real estate trade made.
We believe that as cryptocurrency grows, it is going to become even more viable in the real estate market.
If you are a forex trader then it is more than likely that you have come across the phase where you feel completely stuck trying to decide on the forex strategy to opt for. Because sometimes your gut tells you to stick to a certain strategy but after going forward with it, it doesn’t work and your hard work and money goes in vain. Plus, there are so many strategies that you can choose from, which makes it all the more difficult to make up your mind. So, if you have come across a crossroad similar to this then we have about eight strategies for you that are sure to up your forex trading game by a tenfold, if not more.
1. Bladerunner trade
The Bladerunner trade like the name suggests has been inspired by the movie Bladerunner. This strategy utilizes pure price action in order to discover entries. Different kinds of charts, indicators and resistance levels are utilized while making the Bladerunner strategy work. Off chart indicators such as MACD, RSI, etc. aren’t really necessary in this strategy but feel free to use any if you find it important or feel like you’re used to it. As trading works the best when you feel confident about your move.
To be precise, the Bladerunner strategy is a pretty amazing EMA crossover strategy. In addition to that, it can be applied in a timeframe of pretty much any kind and any type of currency pair.
2. Daily Fibonacci pivot strategy
This strategy, again like the name suggests makes use of the Fibonacci sequence and the pivot point in order to operate in the forex market. The chart displays certain points where the price action is affected by resistance or powerful support, however, if its order is disturbed it shows strong moves. So, if you are planning on making a trade anytime soon or you have already made up your mind about the trade you want to place then it is crucial for you to keep a close check on the prices that whether they are moving close to Fibonacci pivot points or not.
This is a relatively easy strategy that can be applied to both day trading and swing trading. Most successful traders swear by the Fibonacci pivot strategy and can’t seem to do without it.
3. Bolly band bounce trade
This trading strategy is ideal for when you are operating in a ranging market. Amateur traders prefer making trades when the prices are a lot more stable and the price change can be predicted. However, the real challenge is to operate in a fluctuating market. This is probably the reason why many people pass on the opportunity to trade in a restrictive market. This strategy is based on the observation of the price through the trader’s eyes.
Again, not many people will use the Bolly band bounce trade, however, if it something that attracts you, it will surely be worth your while.
4. Forex overlapping Fibonacci trade
Once you have familiarized yourself with the concept of Fibonacci pivot strategy, it will become quite easy for you to grasp the concept of Forex overlapping Fibonacci trade. There are tons and tons of people who prefer Forex overlapping Fibonacci trade over the others. However, experts do say that, if used on their own, this strategy can be a bit unreliable, but once you get a hang of it, it is pretty worth it.
The ease and simplicity of the Forex overlapping Fibonacci trade is what attracts most traders and it is the primary reason why they opt for it without pairing it up with any other strategies.
5. London hammer trades
When the London market opens up, the prices show extreme volatility. While, it makes matters a little difficult, some traders plan on banking on this opportunity to make money. This is where the London hammer trade comes in. This strategy is especially utilized when the London market starts operating.
This strategy can be effective any moment the price starts tot increase in a particular direction and moving away from a point where resistance is shown.
6. The Bladerunner Reversal
As we discussed earlier that the Bladerunner strategy is a trend following strategy. However, with the Bladerunner reversal, the entries are picked from the situations where the trends are reversed and the price begins to get traded on the other side of the EMA.
7. The Pop ‘n’ Stop Trade
This type of trading strategy is especially useful for people who try to chase prices when they show an upward trend. However, you can’t be too sure when you are following an exceeding price because it can quickly reverse causing a loss for you.
This is where you should utilize The Pop ‘n’ Stop Trade strategy. How this strategy works is that it combines the price action with the Rejection Bar Candlestick and makes the environment of trading relatively safer for the trader eliminating any major losses.
8. Trading the Forex Fractal
Trading the Forex Fractal is more than a concept than it is a strategy. It basically focuses on understanding the trend of the price, why it is moving and what are the conditions that are enabling it to move. These kinds of insights may take you a little longer to learn but they are surely worth it and they will up your forex trading game by a tenfold. There are plenty of websites online that offer such inside information completely free so while other people have spent hundreds of dollars acquiring this knowledge be sure to learn it while you have the chance to do it for free.
As you can see there are plenty of strategies that you can use in order to make the most of your trading skills. However, it is suggested that you choose the one which you find yourself completely comfortable and that complements your trading style. You don’t want to use the wrong strategy and end up losing precious dollars and your hard work as well.
Risk management in forex trading is a multi-step process that begins with the identification, assessment and control of the threats that are directly or indirectly posed to the trading account, capital or estimated profit returns in a trade.
Fuad Ahmed, a currency trading expert has compiled for his readers a list of tips that they can follow to minimize the risk factor in every trade. The tips are given in the form of an infographic, so the readers, through the visual image can easily grasp the essence and remember it.
The first step of risk management according to Fuad Ahmed is the measurement of risk beforehand followed by the strategy to never overtrade. The next step is to always make a trading plan and go by it. The best technique to avoid the risk in any kind of trading is to study the market trends and follow them, this saves the trader from any unforeseen mishap and prepares him for the worst.
While all the initial steps are ensured to be taken, the next is to check by the trader is the placement of stop loss, when putting a limit, a trader shouldn’t risk more than 1-2% of the total value of his account. This saves him from risks of losing a huge amount of money in a single trade. Fuad Ahmed’s piece of advice to his clients is to not trade a big lot and always remain prepared for the right time to trade, as a trade placed at a wrong time can be of difficult consequences.
Forex brokers usually offer their traders a leverage so high, that it causes them a fortune to repay in case they lose the money. therefore, it’s recommended that a small amount of leverage be taken on every trade.
With everything technical said and done, one thing that can completely devastate a trader’s life is his psychological state, Fuad Ahmed advises the traders to minimize the risk of losing money by remaining stress-free and composed when placing a trade and not panic at the time of order.
If these tips and guidelines are followed, there is a great possibility that a trader will never lose money in forex trading.
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<a href=http://www.fuad-ahmed.com/wp-content/uploads/2018/06/InfoGraph_RiskManagement-01.png><img src=http://www.fuad-ahmed.com/wp-content/uploads/2018/06/InfoGraph_RiskManagement-01.png alt=Risk management in fx trading by fuad ahmed width=580/></a><br />
<strong>Infographic by- <a href=http://www.fuad-ahmed.com/>Fuad Ahmed Currency Trading Expert</a></strong>