- Jim Simons (or the man who solved the markets) with a $25.2 billion net worth. He basically created the quant revolution. Algorithmic trading became a thing because of his success. We know that his fund traded currencies in the beginning, but mostly he traded indexes and stocks. However, we don’t know exactly which assets are traded since Renaissance became completely closed to the public in 2005 when they bought out the last investor.
- George Soros with an $8.6 billion net worth. If we exclude Jim Simons (since he is a clear winner and an anomaly really), Soros is probably the strongest influence in Forex, in the form of one man (trader). Soros is known as the King of Forex.
- Paul Tudor Jones with a $7 billion net worth.
- Bruce Kovner with a $6.6 billion net worth.
- Stanley Druckenmiller with a $5.6 billion net worth.
- Joe Lewis with a $5 billion net worth.
- Martin Schwartz with a $4.7 billion net worth.
How much do top forex traders earn?
Who is the king of forex?
Why do 99% of traders fail?
Because most traders aren’t really traders but gamblers in disguise and they don’t even know it. The biggest mistake failing traders make is not knowing the proper risk reward (RR). But this is the most common mistake and there are many pitfalls for traders even if they implement risk management. As soon as they realize success in trading isn’t the same as a thrilling gambling experience, they may quit trading altogether.
What it takes to become successful in forex trading is a bigger effort than people expect, so it’s rare to keep it up until you succeed rather than quitting and going back to your regular job.