How did rich traders reach theirJohannes Röll 07 / February / 20 Visitors: 10
How did rich traders reach their
As statistics shows, wealthy traders make up only a few percent of the total number of exchange traders. Most market participants merge their deposits under the influence of various factors. Beginners make mistakes, which reduce the initial capital and gradually reduce it to zero. In order to increase their earning level and become a professional, a beginner trader is recommended to adopt the experience of successful specialists. In today's article we will consider the key differences between wealthy players and talk about popular personalities. The reader should not copy the life path of famous people, but he can get valuable lessons and bring himself closer to the cherished goal. Rich traders.
What is the difference between successful stock speculators?
Reading the biography of famous and rich traders, we can note several common features that distinguish successful people and distinguish them from the general mass. By developing a certain character, a speculator significantly increases the chances of earning a decent income. A beginner stock trader should pay attention to the following aspects:
Discipline - the ability to recognize right and wrong trades. Realizing that the impulse to action is based only on emotions, the trader can timely stop and make another, more competent decision. With internal discipline, the player will reduce losses and ensure a favorable outcome.
Risk control implies a clear understanding of the money management system. The speculator must determine what losses are acceptable for him. By setting certain limits to the daily risk, you should not exceed this limit. Loss control allows you to go out on a regular basis to earn money and ensure long-term work on the international platform.
Courage is not available to every exchange participant. It is a readiness to be different. Instead of following the crowd a person can build his own system and go against the majority. Acting against the main trend, a speculator can earn a large sum. In this case, one should clearly understand the mechanisms of the international market and predict potential reversals.
Insightfulness is an understanding of market trends. A person who understands stock exchange trading and can predict the movement of quotations, can quickly get rich on the difference between prices of buying and selling assets.
In order to increase the final earnings, a speculator should develop all the above features. Success in trading is available only to a few, but with self-control, discipline and courage, a person can achieve amazing results on the international exchange.
The richest traders in the world
In order to get motivated and motivated for success, below we offer you to consider small clippings from the biography of the richest traders:
George Soros was born on August 12, 1930. The future trader was born in Hungary and studied at the London School of Economics and Political Science. In 1952, he graduated from the Faculty of Philosophy. The first steps in trading were made during his school studies. As of 2018, his fortune was over 8 billion U.S. dollars.
Joe Lewis started his business at an early age. He graduated from high school at 15, and then started making a lot of money in business. In 1992, Joe worked with George Soros and made a bet against the pound sterling. This deal created a difficult market situation, which is now called the Black Environment. Lewis made over $1.8 billion in trading. Now his net worth is about £4.350 billion.
Paul Tudor Jones is one of the wealthiest speculators. His capital exceeds 4.5 billion American units. He began his career at the University of Virginia with a degree in economics. The man dropped out of Harvard Business School and focused on commodity trading. In 1980, Paul founded an investment company that achieved success in the international market.
All of these professionals have come a long way before climbing to the top of success. By repeating their right decisions, a beginner can improve his own results!
Johannes Röll was born 1978 in Brilon,Germany. Graduated RWTH Aachen University. Over the past ten years he worked as Head of the plastic card team, where he was mainly responsible for the development of the distribution, Head of sales Department and Financial Analyst,where he got experience in planning and support sales figures for branches. For the present he works as freelancer