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Apr 3
8.4 3 Lessons Learned from Ace Investors

 

GEORGE SOROS
Several associates, knowing that I was accustomed to trade for a famous fund manager George Soros, have been sending me with his new book and also his new biography “George Soros on Globalization” and “Soros: The Life and Times of Messianic Billionaire”. After some time they call to know my views, anticipating great understand.
To know the level of interest, I haven’t received complimentary copies of a book from the dark days of 1997, when the Thai and USA forex trading markets were receiving severe losses and forex trading markets compelled me to shut down my hedge fund. My book of choice at that time was “Tuesday With Morrie”. 45 copies I received of it, along with three tapes, apparently to support me to better understand the idea of death.
I did never read “Tuesday With Morrie” nor I read the other of the new Soros books, although I wanted to, as the maestro is fascinating till the end and I also like to know his intuition on every subject. Me and George spend 15 years as business partners in a state “best friendedness,” often speaking on the phone almost three to four hours a day and playing tennis thrice a week. We did learn few things from each other through exchange of ideas and by developing insights. I believe they will supply readers with a unique viewpoint, and I may share them in a moment.
To fully disclose, I must admit the fact that I never interviewed George or any of his friend who were my friends also. The reason for not meeting him was that he never contacted me, our last communication was concluded with the words. “No hard feelings” And I never wanted to discomfit our common friends by asking them bout his.
privileged information.
The lessons I learned from George are as follows:
Always use two cans of tennis balls.
I have played tennis with few people, and George is certainly one of them. George use to buy to can of tennis balls, and play with them in a set. Usually his tactic is to use three balls for practice and later use the second can for the match. The reason is that, often the balls get lost while you play on crowded courts. By having extra three balls, you can still play a match without wasting your time retrieving balls.
Similarly it applies to the forex trading market, when you have a capital that loses you a great amount of money; it is a good idea not to invest all your money in it by having some in reserve. By employing this strategy you can still play a game, so that you don’t have to waste time for searching for a fresh investment or a loan.
Be willing to go for the win or ace if survivorship is guaranteed.
I am a better player of tennis than George. But George more daring player. Mostly I have played against him in doubles, in all games he has been the victor. The reason behind his success is that when he gets to the wire, George always goes for the lines on his ground strokes, on his second serve he attempts for the ace and quickly goes to the net behind his first or second serve He believes that fortune favors the brave. Similarly when he has a chance to make big money in a forex trading market, he is never afraid to take his chances and put significant number of his cash into it.
In speculation that the British pound would be devaluated in 1992 stand for a rather amazing amount of money at the time. George said that ?I am relying on published accounts on this, an opposed to any knowledge I might have gained. The out come was fortune as well as fame. It is a gallantry to remain offensive under life threatening circumstances L’Amour’s, a western novelist heroes, when danger struck them, they daringly go on the offensive.
Friendship based on business is better than business based on friendship.
George always favored to separate the personal life from the business life. When I first met him I soon realized that there is nothing in common between us. George always go with the forex trading trend, I never follow the forex trading trend as I have never bough at high forex trading market or sold at lower. George enjoy modern dance; I enjoy classical music. George favored a mixed economy, an economy with a strong central international authority to rectify the surplus of self interest. I am for the power of the forex trading market to give consumers the quantity and quality they desire in time, in the strength of encouragement to establish a constantly growing plenty, and in the power of competition to dispense that loads pleasantly and abundantly to the worthy consumer.
Despite all these difference we still remain friends. Our friendship developed beyond the proficiency to make money for the other, and we respect each other.
George was consistently stressed by his large number of friends introducing him to a possible deal or pleading that one or another of his foundations contribute to a tremendously project. The reason of my longer being in the Soros vault is that I not longer receive 10 applications a day from my friends for introductions. But I do receive 3 to 5 applications. I natural respond? George no more talk to me, therefore, if I suggest you, I think it would be a burden to you. However, if you want to contact him you can have his number, but by not mentioning my name, I am sure you will get a fair hearing.
To deal with introductions and proposed business ventures from friends, George has a patent method. An 80 something Hungarian who, like George was forced to flee to avoid Holocaust is the toughest negotiator and careful investigator he knows. He is an accountant, a lawyer, an investment analyst and a banker all in one, he routinely investigates any business deal with the skepticism of Rumpole and the persistence of inspector Javert, he is the follower of Jean Valjean in “Les Miserables”, with the skepticism and negative checklists of each of them within his casing of examination. If a deal guaranteed 50% success a year, then he might consider investing some of his cash in the deal. (I want to add that I love this man and admire his talent).
Whenever some one offer a proposal, George is probably to say. “This proposal to my Hungarian friend. If he likes it, then I am willing to invest in the deal on the same terms to a moderate extent on a pari passu basis with him”. This is the end of interview.
The apparent application of guidelines to the forex trading market and life is so immense and so personal that I will leave to the reader the areas of application. On the other hand, below I once again write the thoughts of my friend, on hedge fund manager, relating to business and friendship.
The real question is, was the friendship based upon a principle of being an The important question, was the friendship unconditional? If it was not than what does the meaning of the word like “loyalty” that enlighten us philosophically, ethically, and theologically have any significance? What is the meaning of the word friend? To a man like Soros. the question is that does he really need one?
I want to conclude by expressing my admiration for George’s work in establishing an open, well informed and strong society. He has established an indescribable, incredible principle of welfare for millions of people.

GEORGE SOROS

Several associates, knowing that I was accustomed to trade for a famous fund manager George Soros, have been sending me with his new book and also his new biography “George Soros on Globalization” and “Soros: The Life and Times of Messianic Billionaire”. After some time they call to know my views, anticipating great understand.

To know the level of interest, I haven’t received complimentary copies of a book from the dark days of 1997, when the Thai and USA forex trading markets were receiving severe losses and forex trading markets compelled me to shut down my hedge fund. My book of choice at that time was “Tuesday With Morrie”. 45 copies I received of it, along with three tapes, apparently to support me to better understand the idea of death.

I did never read “Tuesday With Morrie” nor I read the other of the new Soros books, although I wanted to, as the maestro is fascinating till the end and I also like to know his intuition on every subject. Me and George spend 15 years as business partners in a state “best friendedness,” often speaking on the phone almost three to four hours a day and playing tennis thrice a week. We did learn few things from each other through exchange of ideas and by developing insights. I believe they will supply readers with a unique viewpoint, and I may share them in a moment.

To fully disclose, I must admit the fact that I never interviewed George or any of his friend who were my friends also. The reason for not meeting him was that he never contacted me, our last communication was concluded with the words. “No hard feelings” And I never wanted to discomfit our common friends by asking them bout his.

 

The lessons I learned from George are as follows:

Always use two cans of tennis balls.

I have played tennis with few people, and George is certainly one of them. George use to buy to can of tennis balls, and play with them in a set. Usually his tactic is to use three balls for practice and later use the second can for the match. The reason is that, often the balls get lost while you play on crowded courts. By having extra three balls, you can still play a match without wasting your time retrieving balls.

Similarly it applies to the forex trading market, when you have a capital that loses you a great amount of money; it is a good idea not to invest all your money in it by having some in reserve. By employing this strategy you can still play a game, so that you don’t have to waste time for searching for a fresh investment or a loan.

Be willing to go for the win or ace if survivorship is guaranteed.

I am a better player of tennis than George. But George more daring player. Mostly I have played against him in doubles, in all games he has been the victor. The reason behind his success is that when he gets to the wire, George always goes for the lines on his ground strokes, on his second serve he attempts for the ace and quickly goes to the net behind his first or second serve He believes that fortune favors the brave. Similarly when he has a chance to make big money in a forex trading market, he is never afraid to take his chances and put significant number of his cash into it.

In speculation that the British pound would be devaluated in 1992 stand for a rather amazing amount of money at the time. George said that ?I am relying on published accounts on this, an opposed to any knowledge I might have gained. The out come was fortune as well as fame. It is a gallantry to remain offensive under life threatening circumstances L’Amour’s, a western novelist heroes, when danger struck them, they daringly go on the offensive.

 

Friendship based on business is better than business based on friendship.

George always favored to separate the personal life from the business life. When I first met him I soon realized that there is nothing in common between us. George always go with the forex trading trend, I never follow the forex trading trend as I have never bough at high forex trading market or sold at lower. George enjoy modern dance; I enjoy classical music. George favored a mixed economy, an economy with a strong central international authority to rectify the surplus of self interest. I am for the power of the forex trading market to give consumers the quantity and quality they desire in time, in the strength of encouragement to establish a constantly growing plenty, and in the power of competition to dispense that loads pleasantly and abundantly to the worthy consumer.

Despite all these difference we still remain friends. Our friendship developed beyond the proficiency to make money for the other, and we respect each other.

George was consistently stressed by his large number of friends introducing him to a possible deal or pleading that one or another of his foundations contribute to a tremendously project. The reason of my longer being in the Soros vault is that I not longer receive 10 applications a day from my friends for introductions. But I do receive 3 to 5 applications. I natural respond? George no more talk to me, therefore, if I suggest you, I think it would be a burden to you. However, if you want to contact him you can have his number, but by not mentioning my name, I am sure you will get a fair hearing.

To deal with introductions and proposed business ventures from friends, George has a patent method. An 80 something Hungarian who, like George was forced to flee to avoid Holocaust is the toughest negotiator and careful investigator he knows. He is an accountant, a lawyer, an investment analyst and a banker all in one, he routinely investigates any business deal with the skepticism of Rumpole and the persistence of inspector Javert, he is the follower of Jean Valjean in “Les Miserables”, with the skepticism and negative checklists of each of them within his casing of examination. If a deal guaranteed 50% success a year, then he might consider investing some of his cash in the deal. (I want to add that I love this man and admire his talent).

Whenever some one offer a proposal, George is probably to say. “This proposal to my Hungarian friend. If he likes it, then I am willing to invest in the deal on the same terms to a moderate extent on a pari passu basis with him”. This is the end of interview.

The apparent application of guidelines to the forex trading market and life is so immense and so personal that I will leave to the reader the areas of application. On the other hand, below I once again write the thoughts of my friend, on hedge fund manager, relating to business and friendship.

The real question is, was the friendship based upon a principle of being an The important question, was the friendship unconditional? If it was not than what does the meaning of the word like “loyalty” that enlighten us philosophically, ethically, and theologically have any significance? What is the meaning of the word friend? To a man like Soros. the question is that does he really need one?

I want to conclude by expressing my admiration for George’s work in establishing an open, well informed and strong society. He has established an indescribable, incredible principle of welfare for millions of people.


Trading Guide

 

8.1 A Forex Trading Plan

8.2 Forex Training: What to Look For in a Forex Training

8.3 Forex Course: A Quick Forex Guide for Traders

8.4 3 Lessons Learned from Ace Investors

8.5 How do Top Traders Trade?

8.6 Managing Your Trade

8.7 There Are Clues All Around You

 

 


 

 

Forex Education

 

The Basics of Currency Forex Trading

Technical Analysis

Technical Indicators

Fundamental Analysis

Intraday Trading

Emotional & Behavioral Part

Risk & Money Management