Forex trading success is through knowing the insides of the financial and foreign exchange market, and through some amazing insight and strategy, successful currency trades can amass you a small fortune. Stanley Druckenmiller is one of the great currency traders and many brokers aspire to reach the levels of success that he has achieved throughout his 30 year career. His most famous, and most lucrative, currency trades both occurred through the successful trade of the German Mark, The first at the fall of the Berlin Wall, and the second in combination with one of his partners, George Soros, that ended up with both men making billions and creating huge gains for the company. All of these currency trades were used with futures stocks and the careful insight of the brokers to use the current political and international climate and predicting change, insight that forever changed the lives of these men and the climate of the forex market.
The Great Currency Trades
Both the trades focused on a currency crisis, and a smart broker can always take advantage of political turmoil. The initial crisis occurred when the Druckenmiller believed that the reunification of Germany after the fall of the Berlin wall would be a very rough transition and made a futures trade, increasing it to 2 billion worth of marks in the long haul and managed to reap benefits of 60% growth for the Quantum Fund. This currency trade cemented Druckenmiller’s position as one of the top traders in the industry and set up his firm as a leader in the industry, changing the thoughts on futures trading. The second multi million deal was done in collaboration with George Soros, and became known as the largest forex trading move in history. While Soros was working on breaking apart the British currency with his trades, Druckenmiller leveraged his working capital and bought up marks in the long haul and leveraging the assumption that investors would shift to the German currency after the English decline. Once again he reaped amazing success, with himself and Soros pulling off one of the largest coups in forex currency trades.
Life After the Mark
Druckenmiller retired in August 2010 stating that his days of great returns were over and that he could not provide returns to clients that he was satisfied with. He has been ranked by Forbes as of this year as the 149th Richest man in America and has holdings of assets of over 2.5 billion dollars. However, beyond all his wealth, he will be known as the forex broker who made the Mark earn him millions in currency trades.
Dave Tucker is a freelance author with a keen interest in Foreign Exchange. Through his writing his aims to educate readers on key people in the industry and great strategies. He has worked for short periods as a mt4 forex broker and can provide great information for anyone with a forex trading account and looking for assistance.Tags: Best Forex Trade, Forex Brokers, forex trading