A foreign exchange broker, also known as a forex broker or currency broker, acts as an intermediary between buyers and sellers of foreign currency on the market. This service is invaluable when engaging in international trade and exchange. As a result, brokers provide a platform for traders to execute their trades. Traders Union have found top forex traders in the world 2022.
Top Forex Traders in the World 2022
- George Soros
He is a well-known currency trader referred to as “The Man Who Stole the Bank of England” due to his big positions when dealing with the British Pound in 1992. In addition, he established Soros Fund Management, LLC. He is thought to be worth $8 billion, and on “black Wednesday,” he made the well-known deal in which he shorted the British pound. As a result, George Soros was among the most prosperous FX traders in 2022, thanks to the more than $1 billion he received from it.
- Bill Lipschutz
He is the current CEO of Hathersage Investment Management and is referred to as the “sultan of currency.” In the 1980s, Lipschutz started trading currencies while attending Cornell University. As a result, he allegedly earned $250 million for his company in a single year.
- George Van der Riet
Presently works as a trader full-time and is well-known for his public speeches on financial markets. He primarily focuses on technical research and has created his distinctive trading methodology, which he has effectively employed to trade stocks, commodities, and currencies. He is a currency trader and hedge fund manager from South Africa. He currently serves as the Global Forex Institute’s director and chief trader.
- Andrew Krieger
He used to work for Bankers Trust as a currency trader. He gained the moniker “The Kiwi Killer” in 1987 after placing significant bets against the New Zealand dollar. He trades aggressively, and his clever deals using the NZ dollar have made him well-known. For example, he took short positions in 1987 after determining that the NZD was overpriced, and such positions helped him make millions of dollars.
- Paul Tudor
In 1980, this American currency trader and hedge fund manager established Tudor Investment Corporation. He also supports numerous organizations through his foundation and is philanthropic. Paul was equally as adept at foreseeing and capitalizing on the 1987 market fall as Andrew Krieger was. He could have made a million dollars from this trade.
Best Forex Trading Tips
- Define Goals and Trading Style
Before setting off on a journey, you should have a firm grasp on both your destination and your strategy. That’s why it’s so important to zero in on your goals and make sure your trading strategy will get you there. Each trading approach carries its own set of dangers, therefore it takes a special frame of mind and method to make a living in the markets.
- The Broker and Trading Platform
Selecting a trustworthy broker is crucial, and learning about the variations among brokers will be quite beneficial. You must be familiar with each broker’s procedures and trading policies. Trading in the spot market or over-the-counter market, for instance, differs from trading in exchange-driven marketplaces.
- A Consistent Methodology
As a trader, you must be conscious of your judgement procedure before entering the market. Know what information you need to enter or exit a transaction. There are investors that base their trade decisions on analysis of economic fundamentals and accompanying graphics. While others rely solely on intuitive judgement, some choose to use technical analysis.
- Determine Entry and Exit Points
Conflicting information that appears when examining charts in various periods causes a lot of traders to become perplexed. For instance, what appears to be a buying opportunity on a weekly chart may be a sell indication on an intraday chart? Therefore, synchronize the two if you get your fundamental trading guidance from a weekly chart and utilize a daily chart for timing entry.
- Calculate Your Expectancy
Our evaluation of your system’s reliability is based on an expectation-based algorithm. To begin, go back on all of your trades, winners and losers alike, and make a side-by-side comparison to determine how much cash you made on the winners and how much you lost on the losers.
