Stanley Druckenmiller: Famous Forex Billionaire

In the world of Forex trading where there are not as many rules, strategies and formulas as stock trading, it takes some serious savvy to become of the greatest currency traders in the world. Stanley Druckenmiller is one of those great traders, and one of the wealthiest.

Biography of Stanley Druckenmiller - A Forex Billionaire

Image Credit:
www.post-gazette.com

Now considered the 149th richest man in America, Stanley Druckenmiller started out in the world of Forex trading when he created his own Duquesne Capital Management company and went to work for the infamous George Soros who is famously known as the man who broke the bank of England. Soros made $1 billion on his Black Wednesday crisis that hit the UK in 1992. With Soros as his mentor throughout this period, Druckenmiller learned many great lessons and went on to become an exceptional currency trader in his own right.

After the collapse of the Berlin Wall, Stanley Druckenmiller bought the devalued German currency and held onto it. He watched as it rose and made a fair share of money from one of the most famous currency trades. After working for Soros, Druckenmiller returned to his Duquesne Capital and worked as a fund manager for clients investing millions upon millions. One of Druckenmiller’s secrets is that he adopted a very similar style of trading as George Soros. Soros is known for holding groups of long and short stocks, and using leverage for futures and currency trades.

Read more...

Foreign Exchange Vs. Prepaid Credit Card

The holiday season can either turn into the best time of the year or an outright disaster, depending on the right decisions and a bit of planning. If you are going abroad then one of the things you will need to do is make sure you have your travel money exchanged into the local currency. Back in the days, going to the foreign exchange bureau to pay a costly commission fee and getting a poor exchange rate was the only option at your disposal. Today, however, you might want to think about using a prepaid credit card instead. Let's have a look at their respective merits in turn.

Foreign exchange: A tainted image

Although its image has been considerably tainted over the past decades, there are still a few benefits to using foreign exchange. Most importantly, you will have cash at your disposal in the country of your destination. This means you can perform small purchases like coffee or bus fares without having to draw money out of an ATM, which can be costly. Especially when you're arriving at a remote destination without any cash at all, this can come in handy.

Read more...

Craig Whyte: Self-Made Billionaire at 39

So many of us stay away from investments and Forex trading because we don’t know what’s going on and it looks too difficult to even begin to understand. Craig Whyte, self-made millionaire, saw things very differently and at the age of 15 Craig started trading on the stock market and in Forex. When he left school he had just over £20,000 in his account.

First Business Venture

Craig had opened his first plant within four years of leaving school. Unfortunately it closed in the nineties and Whyte was left with hurt pride. But, not one to be pulled down, he got back up again and went on to invest in security and property; eventually the Scottish entrepreneur became the youngest self-made millionaire in Scotland by the age of 26 and made it onto the rich list.

Read more...