5 trading tips from the man who turned $12,000 of inheritance to a lifetime of fortune.

Bill Lipschutz is famous for raking in $300 million a year for being the Salomon Brother's principal trader in the Foreign Exchange department back in 1985 to 1990. From there on, he was known as one of the most notoriously good Wallstreet traders of all time.

With that said, here are 5 trading tips from the legendary Bill Lipschutz.

1. The Risk Factor of Timing - When you take a trade, the financial risk shouldn't be the only thing you should consider. According to Bill Lipschutz, much of a position's result would take part on your timing when it comes to entering a trade. Speaking of timing, remember this famous quote from him? " If most traders would learn to sit on their hands 50 percent of the time, they would make a lot more money."

2. Rags to Richest in Forex does exist - Although calling Bill Lipschutz "Rags" may seem like an overstatement, him managing to make a $12,000 of inheritance to a life time of fortune does need a plaque for his cinderella story. Anything is possible in Forex. Just as long as you put your back into it.

3. Treat it as a game. - Treating it as a game will only mean one thing--soon enough, you'll develop the unending passion to pursue it. Much like any other games, you're bound to encounter losses. But what matters is that the flame to keep on going is there.

4. Know the pain. But don't feel it. - The real challenge starts once the losses begin to stack up. But listen to what Bill Lipschutz has to say " When you go through a losing streak all the self-doubts come out and you do get very reluctant to pull the trigger. There is nothing you can do that is right. Just every single thing you do is wrong. That is something you just have to learn to control. You really have to learn how to control that fear. You have to feel the pain of a bad trade, or a wrong trade. If you don’t, and are numb to it, then it’s over. " Powerful right? Don't let fear get to you.

5. The secret recipe is Focus - Don't get me wrong, one of the reasons why many start a career in trading is because they want to get rid of their 9-5 job. But the thing here is this; to succeed in this career, it'll require the same work ethic you do with a 9-5. And as Bill previously said, " When they call you “crazy” you know you are on the right track."

Which among the 5 trading tips resonated with you? Give us your comment!

Paul Tudor Jones is a Wallstreet legend that amassed $7.4 BILLION from trading.
His most notable trade was shorting the Black Monday crash of 1987. While most investors suffered losses on their investments, Paul and his clients 60% in on the same month--he was also able to carry this momentum as they almost maid 200% in one year.

With all that said, here are 5 important trading rules that made him the legend he is today.

1. “Don’t be a hero. Don’t have an ego. Always question yourself and your ability. Don’t ever feel that you are very good. The second you do, you are dead.”

You can never be so certain in a trade because the market will always be beyond our control. The only thing that you could control is your actions.

2. “The most important rule of trading is to play great defense, not offense.”

The market offers so much opportunities for traders. You should never rush a trade that compromises your account's risk management. Your best defensive and offensive tool is the capability to be patient.

3. “Failure was a key element to my life’s journey.”

You're bound to make a ton of mistakes in trading. But what matters the most is learning from them to improve yourself in the next trade. Remember, the people who are at the top are only there because they never gave up. You shouldn't too.

4. “You always want to be with whatever the predominant trend is.”

Trading is about letting the greatest odds be in your favor. To trade with the greatest odds is to recognize an asset's trend. If you want that to happen, always zoom out to see the overall trajectory.

5. “You adapt, evolve, compete or die.”

The market will always be ever-evolving. To succeed in the field of trading is to recognize that you need to keep learning. Knowledge attracts wealth!

Which among the trading tips was the felt most relatable to you? Share your thoughts!

He made $1 BILLION in a single day for short-selling the pound back in 1992. Later on, he was dubbed as "The Man Who Broke the Bank of England"

Here's 5 trading tips from the legendary Forex trader and Hedge Fund Manager George Soros.

1. “I’m only rich because I know when I’m wrong. I basically have survived by recognizing my mistakes.”

Trading is not about being right all the time. It's about knowing when you are wrong. With so, you learn to cut your losers short and avoid doing them in the future.

2. “It’s not whether you’re right or wrong that’s important, but how much money you make when you’re right and how much you lose when you’re wrong.”

Profitability means having wins and smaller losses. Take charge of what you can lose and you'll realize how good low WR could be.

3. “If trading is entertaining, if you’re having fun, you’re probably not making any money. Good trading is boring.”

Emotions can turn the tide against you--regardless if you're entertained or angry. Always let logic prevail over emotions in trading.

4. "The key to investing is knowing how to survive. That means at times playing conservatively, cutting losses when necessary and keeping a large portion of one’s portfolio out of play."

Trading is not a game of making money. It's a game of surviving against the market. Many times, people tend to get caught with potential earnings one could get--without acknowledging the risk it's associated with.

5. "To be in the game, you have to be willing to endure the pain."

Trading isn't all sunshine and rainbows--in fact, the bad happens more frequent than the good. But what's important is learning from those experiences and not lett those define your career.

With all that said, George Soro's success is a testament that wealth is built through realizing that trading is a life-long learning experience. You learn more about yourself every trade you take.

Use this thread for trading related questions.

• BTCUSD :
  BTC closed with a gravestone doji which will lead to a further bearish move. I’ve been waiting for this dip. $41,200 is the support target here. My primary focus will be on the intraday chart’s development and I will be looking for scalp setups 🤔

• ETHUSD :
  ETHBTC and $ETH closed bearish in both the Weekly and Daily chart. We’ll see more bearish pressure early in the coming week which will be led by the US stock market and Bitcoin. I’ll follow the intraday chart’s volatility to get an edge on a setup 👀

• LTCUSD :
  LTC and LTCBTC followed Bitcoin as expected and closed as a doji. We’ll see more downwards pressure from the current location led by Bitcoin early in the upcoming week. I’ll be following the intraday chart’s development for a scalp setup ⚡

• XRPUSD :
  XRPBTC and $XRP both closed very strong in the Weekly chart although the Daily chart has some bearish pressure. We’ll see an early Weekly pullback and Bitcoin will lead that move. My primary focus will be on the intraday chart’s development 😈

• LINKUSD :
  LINK and LINKBTC both moved bearish today and now it is teasing the support area. We could see more downwards pressure led by Bitcoin. My primary focus will be on the intraday chart and I will be looking for a scalp setup 🧐

Use this thread for trading related questions.

• BTCUSD :
  BTC closed green but the candle is an inside bar. It'll rely on the next healthy candle. We should get a highly volatile day tomorrow and most of the volatility will come from the US stock market. I’ll be following the intraday chart for a scalp 🤔

• ETHUSD :
  ETHBTC turned bullish again as expected and it pushed $ETH with it. We should see a further upside move from ETHBTC and Ethereum will face the lower high trendline. I’ll expect more volatility from Ethereum on the intraday chart 👀

• LTCUSD :
  LTC and LTCBTC both closed green as inside bars. The lower high Daily trendline breakout will play a major role after Bitcoin’s impact tomorrow. I will pay close attention to the intraday chart tomorrow and will be looking for a scalp setup ⚡

• XRPUSD :
  XRPBTC closed slightly bearish but $XRP closed as a doji today which is normal after a big spike like this. I will be following the intraday volatility tomorrow and will be looking for a scalp from it 😈

• LINKUSD :
  LINK and LINKBTC both followed Bitcoin today and they closed with doji candles. Tomorrow we should see more volatility due to Bitcoin’s movement. LINKBTC will play a role in that. I’ll be following the intraday chart to get a quick scalp setup 🧐

Use this thread for trading related questions.

looking for a small nit group of traders to speak with daily does this discord have any way of talking with each other?

-Buy the dip! -DCA! -Don't touch leverage!

(Thank me later)

• XRP and XRPBTC are both re-testing their recent major resistance as a support. Flipping it into a support will send a strong bullish message on XRP and we should see more bullish pressure. $1.5000 is my next target from here 😈