- Jesse Livermore is known for both colossal gains and losses. He made $million in 1929, and by 1934 he had lost all of it (an example that confirms the huge risk involved in stock trading).
- George Soros is one of history’s most successful stock and forex traders. He gained the nickname “the man who broke the bank of England” when he made $1 billion profit from selling $10 billion worth of pounds. He is the chairman of Soros Fund Management.
- Richard Dennis is a successful commodity trader based in Chicago. He made an estimated $200 million over a period of ten years from market speculating.
- Paul Tudor Jones became famous after the market crash of 1987 to make a whopping $100 million from shorting stocks. He is the founder of Tudor Investment Corporation.
- William Delbert Gann is known for developing technical indicators like Gann Angles and the Square of 9. He was a trader who used market forecasting techniques based on astrology, geometry, and mathematics.
- Bill Lipschutz turned $12000 investment in the stock market to $25000 in a few months but lost all of it. He then moved to forex trading, where he has made over $300 million.
- John R. Taylor Jr started as a political analyst for a chemical bank before becoming their forex analyst. He is the owner of FX Concepts, which is a currency managing firm.
- Stanley Druckenmiller is a successful trader who started as an oil analyst for the Pittsburgh National Bank. He was a part of a deal while working at George Soros that raked in $1 billion.
- Andrew Krieger is one of the best trader in the world. He sold kiwi, a New Zealand currency, a trade valued more than the total currency supply. He got revenue of $300 million from the trade.
- Michael Marcus is one of the best and most successful forex traders in the world. Legend Ed Seykota trained him. During the presidency of Ronald Reagan, Marcus held positions of almost $300 million in German marks.
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Some catch up play for Europe going into the open
- German DAX futures +1.1%
- UK FTSE futures +0.6%
- Spanish IBEX futures +0.6%
Optimistic tones observed in early trades
- German DAX futures +0.9%
- UK FTSE futures +0.9%
- Spanish IBEX futures +0.6%
European indices ended yesterday more mixed in another somewhat disappointing session, but the late gains seen in US stocks is giving risk buyers another shot in trading today.
What you need to know about trading CFDs
Contracts-for-difference (CFDs) are popular trading instruments that provide investors with unique potential opportunities to profit in specific markets. This includes taking advantage of certain assets price movement, without actually owning the asset itself.
Thousands of CFDs exist, which are now a common fixture amongst brokerages’ offerings. CFDs are quite simplistic, as profit is calculated as the difference between the entry point of the trade and its exit point.
Popular types of CFDs
UK FTSE outperforms
- German DAX, -1.06%
- France’s CAC, -1.25%
- UK’s FTSE 100, -0.10%
- Spain’s Ibex, -1.02%
- Italy’s FTSE MIB, -0.7%
In other markets as European traders look to exit:
- spot gold is trading up $6.05 or 0.34% at $1808.82. The low extended to $1790.79. The high for the day is near current levels at $1809.74
- WTI crude oil futures are trading up $0.31 or 0.77% at $40.41 for the August contract. The September contract is also higher by $0.33 or 0.82% at $40.65
- S&P index up 12.8 points or 0.41% at 3168.16
- NASDAQ index down 2.6 points or -0.02% at 10391.16
- Dow industrial average up 288 points or 1.11% at 26374