I am sure all traders have heard of the Warren Buffett's and the George Soras's of the trading World simply because they have made billions from their endeavours. I have been checking out the top 100 in the world but I am more interested in the guys who actually trade rather than invest.
When you have an 100 billion dollar fund as 30 - 50% annual return is just fantastic but for us more modest retail traders living in a different world a 30% annual return on say $20k is hardly going to make you a millionaire in under 5 years. Yes and before you say with compounding you can do it - that's just another ballgame and a totally separate "mind" skill.
So I have started off with a fairly well known trader who lists some of his trading style and beliefs. I would then like to go on to other great traders who might only be making a few million a year rather than billions - but with the skill set that enabled them to achieve it with modest capital and not with ten or hundred million.
i would also like to mention there is one outstanding trader in the FX trading contest who has taken his $25k starting capital on a demo account to over 1 million dollars in approximately a month. I am sure he would be the first to admit that he would not use such an aggressive risk strategy with real money and if you had say half a million of real money would you really want to take the chance of losing all of it with say 5 bad trades in a row just to double it ?
I look forward to hearing about other more recent great traders - but please not the Jessie's- the Warrens and the Georges - more about the low key guys who are content with just a few million every year from trading the forex markets.
This is Paul Tudor Jones's comments -
Some interesting beliefs - lets look for more now ;-))