Larry Hite

 

While in college, Larry Hite was far away from the maddening world of forex. He was a keen rock music promoter, managing the musicians’ performances rather than their money. After sometime, in due course he became serious about the music business. However, fate has something else in store for him. Read on to know about the best forex trader Larry Hite.

 

After several incidents which took place during his music career, which caused him to think about his career path; in 1968, Larry Hite decided to enter the world of forex and investments as a stockbroker. He mentions about a chance comment made during a job interview with author Jack D. Schwager, which paved his path to successful commodities trading. He discloses that his college professor referred to commodities traders as wild enough to trade on just 5% margins. And he suddenly realized that it made sense! This is how he got started in commodities trading.

 

What is interesting about Larry Hite is that he approaches the business as a gambler playing the odds to win, rather than a stock market analyst who likes to stay one step behind the market. Having taken the management of hedge funds to the next level, Larry Hite, the best forex trader is considered to be a legend. For the entire trading process, he has consistently managed to get clients enthusiastically occupied in the trading method. This has lead to an increase in the investor commitment to the entire trading process. He has often been commented as a stereotypical “wild-eyed” trader in commodities.

 

The trading philosophy that Larry Hite follows is simple and down to earth. He first wants to know what you can afford to lose. This is what differentiates him from the other more aggressive traders, who no doubt reap huge profits but suffer great losses as well. Hite has been often asked to reveal his secrets for his success. The one thing that he stresses time and again is the need for diversification and cutting edge technology. Diversification, according to him, is a means to reduce the trading risks while latest technology largely helps in eliminating the human error component when analyzing data.

 

Today, Larry Hite is considered one of the top 100 traders of the 20th century. As the co-founder of Mint Investment Management Company, the largest CTA firm in 1991, Mint became the first commodity trading advisor (CTA) with more than $1 billion in assets.

 

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