Menu
Sister Sites

Options

Bookmark Thread

First Page First Unread Last Page Last Post

Print Thread

Similar Threads

How much time did it take you to make progress? 55 replies

How difficult to make 10 pips every day with only one hour trading? 29 replies

How Did George soros withdrew the money when he made 1 million? 23 replies

ROE for 2007 aka How much did you make out of Forex this year? 1 reply

How did soros make 1.1 billion in one day trading forex

  • Post #1
  • Quote
  • First Post: Apr 17, 2008 10:06am Apr 17, 2008 10:06am
What a great market to trade! How did George Soros make 1.1 billion selling short the pound in 1991. I think he put up 10 billion to make 1 billion. This is why forex is so great the incredible amount of leverage that's involved.
A larger percentage of people disagree with you than agree...some say over 90% are losers...

Quoting erock
What a great market to trade! How did George Soros make 1.1 billion selling short the pound in 1991. I think he put up 10 billion to make 1 billion. This is why forex is so great the incredible amount of leverage that's involved.
Quoting ElectricSavant
A larger percentage of people disagree with you than agree...some say over 90% are losers...
Yes, over 90% lose, but the ones that make it
who is this guy, will google him
Former Trader Of the Year of the 95% losing club! Retired
Quoting erock
What a great market to trade! How did George Soros make 1.1 billion selling short the pound in 1991. I think he put up 10 billion to make 1 billion. This is why forex is so great the incredible amount of leverage that's involved.
don't think about how much money you can make, you will be part of the 95% loser's
If I Go Broke Trying Then I Will die happy.
He "broke the bank of england"
Short 10 billion and england was forced to change interest rates.
Basically the BoE wanted to lock the value of it's currency to maintain exports, but wasn't prepared for the difficulty of doing so. Soros came in and traded large enough to mess with the value, starting a cascade when other traders realized the lock had been broken.

The result was a floating currency. A lot of people still dislike Soros over this, as it did cost the UK some manufacturing jobs.

Soros is an exception to the rule, the rule is most people lose money.
and soros almost "margin called".. borrowed money from everyone he knew to hold the position.

and he did not make it in one day. well, if you call getting your paycheck "working one day" then yes.. he did.
wow so basically 10 billion dollars got him 1.1 billion and cost a lot of people their jobs and screwed the BOE(all in one day's work)!!!!!!!!!!!!!!!!!!

if i was warren buffet i would keep screwing the BOE till i reach a trillion dollars.
"what doesn't bankrupt me, makes me stronger" modern nietzche
Quoting salah k.
if i was warren buffet i would keep screwing the BOE till i reach a trillion dollars.
Warren Buffet is just an insurance salesman. Just look at his lifestyle. He's a walking actuarial.
Quoting TheTopBloke
Warren Buffet is just an insurance salesman. Just look at his lifestyle. He's a walking actuarial.

no bro i mean if i had his 60 billion dollars nothing else.
"what doesn't bankrupt me, makes me stronger" modern nietzche
Heh, can't. The BoE got wise and hasn't made that mistake again. Today the rates float, obviously.

Soros's philosophy is basically "If you're sure of the trade, keep pushing!" and "if you're winning, go all in!"

Good rates of return, but his Sharpe ratio was horrible. Don't know of anything else really, they keep most of those details secret.
back in the real world....

how's your trading today?
  • Post #14
  • Quote
  • Last Post: May 18, 2008 8:13pm May 18, 2008 8:13pm
Quote
how's your trading today?

Laff, Sunday candle... not much going on. Keeping an eye on the Aussie, looks interesting.
0 traders viewing now