George Soros is at it again. Making $1 billion from the Yen.

February 14, 2013

forex, FX Trading, FXTrader Paul, Trading

This has been across the news-wires a lot today. How George Soros and several other Hedge Fund types have been making serious profits from the weakening of the Yen over these last few months.  This article is from Business Insider and you can read it here

What I found interesting is the comment from Green Light Capital’s David Einhorn – “We put the trades on about three years ago and the trade wasn’t fun for the first two years and number of months,”

As a private trader there is no way I could stand either financially, emotionally or professionally over 2 years of pain whilst I waited for a FX trade to go in my direction!  I was surprised to read such comments to be honest.  What do you think  readers?  Would you be able to / want to stand the heat for such a long period waiting to be proved right?  It tends to go against everything I hold dear about trading – namely if you’re wrong find out quick and get out.  I’m just always reminded of that John Maynard Keynes quote –” The market can stay irrational longer than you can stay solvent.” If you’re taking positions like that how do you know when you’re wrong and to completely get out? Perhaps its just a case of the size they were trading meant they had to hold on for dear life till the position turned around? I’m not criticising I’m genuinely curious!

Paul

Read more: http://www.businessinsider.com/george-soros-has-made-1-billion-in-just-a-few-months-on-the-plunging-yen-2013-2#ixzz2KuUoD6wP

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About FXTraderPaul

A professional Trader and Coach, FXTraderPaul blogs about his adventures from the front-lines of FX Trading. A Trader and educator who can walk the walk as opposed to merely talk the talk!

View all posts by FXTraderPaul

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