5 Forex Millionaire Success Stories
Surprisingly Forex has been around since the beginning of time. Foreign Exchange is a concept that most likely started with cavemen. Just imagine if you were alive back then, starving, there’s nothing to eat until someone comes along with a few squirrels tied around their neck. To get one you would most likely have to exchange something, right? How about that bone necklace you made from your last kill? This concept isn’t anything new, yet many people don’t know about it.
The fact that it’s not new leaves many individuals with a lot of questions. One major question I come across is how many millionaires has the Forex industry generated? My answer to that is always “a lot!” Even half a percent of 25% of the markets daily revenue is $10 billion each day, whereas the entire music industry generates that per year. Look at how many millionaires that produces.
So I researched and put together a list of 5 Forex millionaires whose stories inspire me, in hopes to inspire others. As I mentioned before, many traders have made millions, even billions, but I found these stories to be the most inspiring.
1. Laura Pederson
She was one of the youngest Forex millionaires. She started working on Wall Street at the age of 17. Although she started out as a clerk, she was able to move up the financial ladder as the years followed. When many girls her age were worrying about make-up, boys, acne and anything else they worry about, Laura was trading Forex with some of the biggest names in the financial industry. Within two years she built her own and her client’s portfolios and eventually became a partner in a firm called Spear, Leeds & Kellog Investment Company, which was later bought out by Goldman Sachs. The Goldman Sachs Group is a global investment banking firm that was established almost 150 years ago and holds nearly $1 trillion in assets!
By the age of 24 years old, Laura had accumulated a fortune worth approximately $1.5 million, which continues to grow. She was retired by her thirties and in 1991 published a book call Play Money. This book is on my reading list because it talks about her experiences in life and trading forex.