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Michael Marcus

Michael Marcus, the best forex trader began his trading career in 1972. Taking out his whole life savings of $700, he bought plywood futures. When in the summer of 1972 President Richard Nixon froze prices of some commodities like wood, the futures contracts rocketed. And Michael turned his $700 into $12,000. He repeated the same accomplishment again in 1973, thus turning $24,000 into $64,000. Let us know more about Michael Marcus, one of the best forex traders.

 

In less than 20 years, he is alleged to have turned his initial $30,000 into $80 million. Itt was while working as an analyst, Michael Marcus met his mentor Ed Seykota. He learned the important money management skills from him. Later while working at Commodities Corporation, he hired Bruce Kovner as his assistant. He taught Bruce the ins and outs of trading. Bruce Kovner too went on to achieve phenomenal success in forex trading.

 

As Marcus was the firm's leading forex trader, he had to wake up every two hours throughout the night for checking the markets. Although, this had a negative outcome on his personal life which ended his first marriage. Marcus rose through the ranks at Commodities Corporation becoming a vice president eventually. He diversified his investments later.

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