The 10 great traders in the financial world
read:2023/2/26 3:37:03
For those forextradingaccountsregister the market for themselves forex trading accounts others can earn millions, billions of really successful traders, trading success is the root of what? These well-known big players are always able to break the rules, in the long-term trading career to maintain the unparalleled performance they are the entire financial trading community has a profound impact on the people of these traders, some humble to the extreme, some cool to show off no matter how, in their success, have unparalleled self-confidence, this self-confidence also eventually cast their brilliant financial trading history 1. nbsp;1. MartySchwartz since 1979 since the switch to full-time trading, every year, there are huge rates of profitability However, he has done so well that the net asset value has never exceeded 3% monthly loss in the U.S. forextradingaccountstypenvestment Championship hosted by Professor NormZadeh at Stanford University, his performance is simply amazing in each period of four months He participated in nine out of ten tournaments and made more money than all the other traders combined. In the one annual contest he entered, his record was a profit of 781 percent I turned from a loser to a winner after I was able to separate my ego needs from making money, after I was able to accept the reality of cashback forexing wrong after it was more embarrassing to admit I was wrong than to lose money When I became a winner, I came out of my analysis, so there would be no wrong to my analysis, but if Im wrong, Ill jump out of my misery because I want to protect my money and move on to the next trade 2. BruceKovner can justifiably be said to be the worlds largest interbank currency trader and futures market trader in 1987 alone he made over $300 million in profits for himself and fund investors back in 1978, throwing Kovners $2, The $2,000 invested in Kovner ten years later was worth more than $1 million Michael Marcus told me one key phrase: You have to be willing to make mistakes regularly; thats simply true he said, make your best judgment, be wrong, make your best judgment again, be wrong, still make your best judgment, then you will double your money As soon as I open a position, I pre-set a stop loss only then can I peacefully I never consider whether others will use the same stop-loss position, because, if I am right, the market can not go there 3. PaulTudorJones His success was considered impossible by most people for five consecutive years, triple-digit returns And the money shrunk very little 1984-1988, turning a $1.5 million account into $330 million The cotton trade almost killed my trading career right then and there, I said to myself, Mr. Foolish, why risk all of it in one trade? Why do you seek pain in your life instead of pleasure? I had to learn discipline and money management, determined to be very disciplined and efficient in my trading try to make myself happy and relaxed in my day trading If I have a position that is working against me, leave it immediately; if it is favorable, continue to hold Always think about (possible) loss of money rather than making money Do not concentrate on making money; instead, concentrate on protecting what you have nbsp;4. DavidRyan Since 1982 he worked for WilliamNeil 1985, in Stanford University Professor NormZadeh chaired the U.S. Investment Championship championship and famous in the whole three years of the combined return reached an extraordinary 1379% In the trading market the more self-discipline you become, the better you will do The more gossip and rumors you hear, the more money youre likely to lose My win rate is only half to half because I cut my losses very promptlyThe biggest loss I allow is 7%, and I usually get out of losing stocks fasterI make money on a handful of stocks that double or triple in price over the course of a year, and the profits from those trades easily cover all the small losses The single most important piece of advice I can give EdSeykota over the course of 16 years, his account achieved an astounding 250,000% return due to regular cash withdrawals, theoretically a multi-million percentage return on the account I dont like to overthink past situations, and I tend to cut out the bad trades as soon as possible and forget about them. Bad trades, forget about them, and then move on to new opportunities The foundations of good trading are: 1) cut your losses, 2) cut your losses, 3) still cut your losses If you follow these guidelines, you will have a chance The rules of trading that I live by are: 1) cut your losses, 2) sit tight on your profits, 3) bet small, 4) follow the rules without question, and 5) know when to break the rules 6. GaryBielfeldt Starting with $1,000 and only being able to trade one contract, his success (in terms of volume size only) was so great that it grew to the point where the speculative restrictions set by the government became a hindrance to his trading The most important thing is to have a way to sit on your profits and get out of losses after considering profit targets and exit in case the market trend changes strategy, your potential to maintain a profitable position is greatly increased the distinguishing characteristics of successful traders: the most important is self-discipline - Im sure everyone says that second, you must have patience, if you have a good deal in hand, you have to be able to sit tight third, you need the courage to enter the market, and courage comes from sufficient capital fourth, you must be willing to lose money, which also has to do with sufficient funds fifth, you need EdwinLefevre real name JesseLivermore, author of an unprecedented masterpiece "How to TradeinStocks" (HowtoTradeinStocks) unprecedented success of one of the traders, a master, the legendary figure of the time the crowd as they would not be the first to accept a small The loss, but will continue to hold, looking forward to the rebound ‘fight the flat ’ However, the stock price tumbled until the loss expanded to the point where it seemed only reasonable to continue to hold if necessary, even if you wait a year, because, sooner or later, the stock price will come back up But, the stock price plummeted, put them ‘shocked out of the game ’ The stock price went too low, because too many people had to throw, regardless They want to Speculators have two main vexing opposites within them which are inseparable from human nature hope and fear speculative buying, when the market moves against you, you want every day to be the last day, just like the empire builders and pioneers, big and small, before they are about to succeed and when the market goes your way, you develop fear that tomorrow will take away your profits. So you exit - too soon fear prevents you from making more money than you deserve The successful trader must overcome these two deep-seated instincts He must be afraid of the so-called natural impulse to go against the grain When he hopes, he must be afraid; when he fears, he should be hopeful He must be afraid that his losses will develop into bigger losses and should hope that the profits will become bigger 8. nbsp;He left the meat processing plant management with $25,000 and now trades the equivalent of $2 billion in Treasury futures daily I understand that whenever I have a loss, I need to learn something from the experience, use the loss as a ‘trading university’s tuition as long as you learn something from the loss, in fact, you do not lose Think of every trade as something you have to do. Each transaction is imagined as one of the thousand transactions you have to make if you start thinking in terms of the following thousand transactions, then, all of a sudden, you make any single transaction seem less important Who cares if the individual transaction is a win or a loss? Just another trade I think the psychology of investing is by far the more important part, followed by risk control, and the least important consideration of where to buy and sell Bill Lipschutz then the largest and most successful currency trader at Salomon Brothers missed opportunities are just as bad as being on the wrong side of a trade bad some people (after having the opportunity to achieve a profit) say ‘Im just gambling with the markets money’This is the most ridiculous thing Ive ever heard Successful traders often ask themselves: what did I do right? What am I doing wrong? How can I do what I am doing better? How can I get more information? GeorgeSoros (no need to introduce too much, related articles please click: Soros spit truth: why I can make money in the foreign exchange market)