Today's lesson is a virtual treasure of wisdom and insight from some of the best commercial minds of all time. We will go on a discovery trip and learn a little about some of the best traders at all and we will dissect some of their famous brands to see what we can learn and how it applies to our own transactions.
You have to make a concerted effort to absorb as much knowledge as possible from the best in your field, because that is already the fastest route to success, be it in circulation or in any field. else.
Below you will find a brief introduction of 7 of the best traders at all times, followed by an inspiring quote from them and how I can display that price and apply it to my trading principles. We hope, after reading today's lesson, that you can apply these experiences in your trading and start Improve market performance.
George Soros
George Soros gained international fame when, in September 1992, he invested $ 10 billion in trading the single currency when he speculated on the Pound Sterling. It turned out that he was right. In one day, it generated a profit of $ 1 billion, , The report said that his profit from the deal amounted to about two billion dollars, and as a result, was known as "the man who broke the Bank of England."
Here is a famous quote from Mr. Soros:
"The markets are in a state of uncertainty and constant change and the money is achieved by a clear discount and a bet on the unexpected."
Jesse Livermore
The author of "How to Trade in Stocks" (1940), was one of the biggest traders of all time, at its peak in 1929, Jesse Livermore achieved $ 100 million, which is equivalent to between $ 1.5 billion and $ 13 billion today, , And may be considered the most famous for the sale of US short-term shares before declining in 1929, which led to inflated the bank account to 100 million dollars
Here is a famous quote from Jesse Livermore:
"Trading in the Market Only when all the factors are in your favor, no one can trade the market all the time and win, there are times when you should exit the market completely for emotional reasons as well as economic reasons.
Say that you must be out of the market sometimes for emotional reasons as well as economic, that means that in order to calculate your trading and your mind, you should not be in the market all the time, in fact, most of the time must be outside the market, which is the cornerstone of business philosophy.
Ed Sekota
As a follower of the trend, Ed Sekota was able to convert $ 5,000 to $ 15,000,000 over a 12-year period in his model account, an actual client account. In the early 1970s, Sikota was appointed analyst by a major brokerage firm. He designed and developed the first commercial computerized trading system to manage client funds in futures markets.
Here is a quote from Ed Secuta:
"The fundamentals you read about are of no use in the market because the market has already lowered the price, I am primarily a trend trader with guesses based on about twenty years of experience. The current layout pattern, and (iii) choosing a good place to buy or sell, these are the three essential components of my trades. "
John Paulson
Paulson became world-renowned in 2007 by lowering the price of the US housing market in the short term, predicting a subprime mortgage crisis and betting against mortgage-backed securities by investing in credit default swaps, As the largest trade in history, Paulson has made a fortune and made more than $ 4 billion in this trade alone.
Here is a great quote from John Paulson:
"Many investors make a mistake when making high purchases and selling low while the opposite is the right strategy."
Paul Tudor Jones
Paul Tudor Jones cut the price of "Black Munday" one of the most famous deals ever. Paul Tudor Jones correctly predicted his documentary in 1986 on the basis of the patterns of the market that was on the verge of collapse, where he benefited immensely from the collapse of Black Manday in the fall of 1987, the largest single-day decline in the US stock market (As%) at all. His money has reportedly tripled by selling futures contracts, making over $ 100 million in this trade, and the Dow Jones Industrial Average falling 22 per cent.
Here's a favorite quote for Paul Theodore Jones featured in "Market Processors":
"It was when I first decided to learn discipline and manage money." It was a thirsty experience for me, meaning I went to the edge, wondered about my ability as a trader, and decided I would not quit. About my trade ".
Invest your money in a safe and efficient way and realize your dream of wealth
Richard G. Dennis
A speculator of goods known as the "Prince of the Pit", was born in Chicago in January 1949. In the early 1970s, he borrowed $ 1,600, reportedly worth $ 200 million in about 10 years. Dennis and his friend William Eckhardt are known for their trade in turtles at first, which was a group of 21 ordinary people who learned their rules and proved that anyone, in the light of proper training, could trade successfully.
Here is a good quote from Richard Dennis:
"I certainly did it - and the evidence before you, put forward anti-direction initiatives.However, as a general rule, I do not think you should do it."
Stanley Drakinmiller is an American investor, hedge fund manager
In 1988, he was appointed by George Soros to replace Victor Niederhofer in the Quantum Fund. He and Soros "broke the Bank of England" when they speculated on the Sterling Pound in 1992, earning more than $ 1 billion. They calculated that the Bank of England did not have enough foreign exchange reserves to buy enough pounds to support the currency and that raising interest rates would be politically unsustainable.
He said: "I learned a lot of things from him [George Soros], but perhaps the most important is that it is not whether you are right or wrong this is the most important, but how much money you do when you are right and how much you lose when you are wrong
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