Bruce kovner is one of the biggest foreign exchange and futures speculators today. His way to win is to make a penetrating analysis of the economies of various countries. The scope of his research is extremely wide and the details are astonishing. In the ten years from 1977 to 1987, the investment funds of Bruce kovner increased by 87% annually on average, In 1992, he ranked sixth in the list of the top ten people with the highest income on Wall Street published by Financial World magazine of the United States, with an annual income of US $100 million. Although he has an excellent record and a huge amount of transactions, he has always kept a low profile and never likes to be interviewed by the media.
After graduating from Harvard University, he taught in his alma mater and University of Pennsylvania, and also engaged in political activities, which laid the foundation for future economic analysis of various countries. However, due to the limitation of economic conditions, he finally entered the speculative industry. In the middle of 1970, after a year’s in-depth research and regular investigation, brushgorfuna entered the market with 3000 US dollars and made a profit of 1000 US dollars from a soybean and copper arbitrage, and began his speculative career. But the experience of soybean arbitrage trading in 1977 was unforgettable for Bruce goldfuner. At that time, there was a serious shortage of soybeans in the spot market. According to Bruce goldfuner’s analysis, the price difference between the July soybeans contract and the November soybeans contract would be bigger and bigger. So he saw the opportunity to buy the July soybeans contract and short the November soybeans contract. The price difference was 60 cents and the stop loss was set at 45 cents. Soon, the price difference expanded to 70 cents, Brushgorfuna continued to increase the amount of arbitrage by pyramiding. On April 13, 1977, the soybean set a new record. The broker called and said excitedly, “brush, the soybean is flying straight to the sky. It seems that today it will close with the trading limit again. The daily limit has been rising fast in July, and it will follow suit in November. Is it stupid to keep the empty order in November? It would be better to close out the empty orders in November and hold more orders of soybean in July. After that, if the limit of soybean rises for a few days, won’t the profit be more considerable? ” Under the instigation of the broker, bruss Grosvenor closed all the soybean blank orders in November. Ten minutes later, the broker’s tone of voice was crazy and said to brush Grosvenor, “I don’t know how to explain to you, but all soybeans fell to the limit! What should we do? ” Bruce Grosvenor almost fainted on the spot, but the market rebounded slightly, giving him a chance to close out. Net account value fell from $45000 at its peak to $22000. A rash decision made Bruce goldfuner feel ashamed of himself, unable to eat for many days, and aware of the risks of futures trading, so he decided to suspend the war for one month, thoroughly review the reasons for his mistakes, make Bruce goldfuner more disciplined, strengthen capital and risk management, and understand that when the market changes dramatically, it will affect the emotional balance, For the future of a fuzzy, should be desperate to close out.
Due to his political activities, Bruce goldfuner pays great attention to the basic factors in his analysis. Before entering the market, he must have a clear view of the market situation. Only when he fully understands the reasons for the rise or fall of the market, can he enter the market according to the signal of the chart. At the same time, the chart analysis can confirm the trend shown by the basic factors and strengthen the confidence in entering the market. In order to analyze the market more carefully, brute Grosvenor subscribes to a large number of investment analysis reports, such as wave master pachet, Shiyu, Davis, etc. but brute Grosvenor does not only rely on the analysis reports to trade, because personal confidence is more important in making profits in the market. If he enters the market only with the opinions of others, it may be difficult to carry out the whole process, This is a big taboo in the futures market. If most experts have the same opinions and the market situation does not match, it will constitute a warning signal, because in this case, most people will make a wrong investment decision. That is to say, when most people are optimistic, the market will go down.
In his opinion, there are at least three important conditions to be a good speculator

1. To imagine what may happen in the future, in mind, for the future situation, often conceive different images, and then wait for the facts to prove which image will come true. In this way, I have a clear idea of the market trend and will not be confused in the face of danger. As the old saying goes: everything in advance is established, not in advance is abandoned.
2. Under the pressure of the market, we must remain rational and stick to discipline, be strong willed and indomitable, and be independent and flexible in using the opposite theory at the same time.
3. We must have the courage to admit our mistakes and accept the fact that we often make mistakes. His teachers often remind him that wrong judgment is not a matter of shyness. According to my past experience, I often fail in the trade that I think is the best investment opportunity. Then I choose the second choice and decide to attack. It’s also a futile retreat. Finally, I take the third choice with less confidence and win a big victory.
   Brush goffner has unique skills in setting stop losses after countless baptisms and trials of market risks. Every time before entering the market, you must set a stop loss to ensure that you can rest assured. The stop loss position will always be placed beyond the important price on the chart. The note code of the transaction depends on the amount involved in the stop loss, and will not be touched by the small adjustment of the market. In other words, it is better to reduce trading volume to accommodate a safe stop loss position.
   After many painful trading defeats, under the guidance of Michael Marcus, he learned a lot of speculative skills. In addition, he had high savvy and accurate analysis of basic factors. In a short period of time, he managed more than 650 million US dollars of investment funds, which made him a great master.