How Common Are Really Large Successful Traders

[wrbtrader]

Al Brooks is a large successful trader. He has large amount of books, articles, webinars, presentations, very large.

Thread starter said 10 - 100 million dollar trades.

In contrast, Mr. Brooks once stated his account size and even on margin...he can't do 500k trade. Simply, he's probably doing a few contracts here and there like the typical retail trader.

Its simple, if someone is doing 10 - 100 million dollar trades via the qualifier of a really large successful trader by the thread starter in his initial post...a trader doing 10 - 100 million dollar trades ain't no retail trader. That concept is not very difficult to understand.

 

[onemoreshot]

Al Brooks is a large successful trader. He has large amount of books, articles, webinars, presentations, very large.

Unending nonsense.

 

[billyjoerob]

$2k account is living in a dream land. It isn't going to happen until you practice for a long time and build that to 10-20k account at least then go full time.

this made me lol

 

[tommo]

Why's that billy?
I opened my first prop account with 10k and have had profits in excess of 800k (sterling) from that point.

 

[billyjoerob]

it was funny because there's practically no difference between 2000 and 10000. a prop account is not the same as 10000.

 

[tommo]

Well it's 10k capital risk whether it's prop or retail or whatever. But prop give you far more leverage and let you scale up quicker.

And anyway the whole basis of my point was that you need to at least be prop to make big money and it won't cut it on a retail level/retail fees.

But...£10k capital risk is all I started with

 

[Fundlord]

tommo,

The difference between the thread starter question (10 - 100million dollar trade) that he has defined as large successful traders...

Prop guys at your firm doing trades in that size ???

The guys I know doing 10 - 100million dollar trades are not called retail traders. Instead, they are professional traders identified as such by the broker and exchange. In fact, usually a retail trader with a very large account probably will not do 1 million dollar trades without seeking professional status or a seat on the exchange.

The only reason why I use retail traders as the example is only because the thread starter used the fame anonymous Japanese trader CSI...that guy is a retail trader (not a prop firm trader) that states (without verification) that he does million dollar trades...although not 10 - 100million trades.

Therefore, its a myth that a retail trader is able to do such.

"He did show multiple 2014 statements from one of his many brokerage accounts, in addition to his 2013 tax return. Those brokerage statements, from SBI Holdings Inc., showed liquid assets ranging from 4.4 billion yen to 4.8 billion yen. His tax return showed he traded 1.7 trillion yen worth of Japanese equities in 2013 -- about half of 1 percent of the value of all the share transactions done by individuals on the Tokyo Stock Exchange. On his busiest day, he says, he bought and sold 70 billion yen worth of stocks."

That is from CIS' bloomberg story.

 

[Fundlord]

Well it's 10k capital risk whether it's prop or retail or whatever. But prop give you far more leverage and let you scale up quicker.

And anyway the whole basis of my point was that you need to at least be prop to make big money and it won't cut it on a retail level/retail fees.

But...£10k capital risk is all I started with

Why do you need a prop firm if you are in the uk you can trade CFD's with some stupid amounts of leverage if you wanted to. As for retail fees, they only play a large role if you are scalping and go for small profits.

 

[WaxOn]

retail traders that become very successful get an office. (you have to shower, get out of bed, and get away from the wife / kids). they may buy seats and other such strategies to reduce their commissions and increase execution speed. they would subscribe to every service that they deem useful. even though they have "turned pro" (in your eyes) they usually stick to the trading strategies that got them there, so for all intense proposes they are still "retail".

i'm sure some stay home if they are not married, but that gets so stale and you are not around like minded individuals.

 

[wrbtrader]

"He did show multiple 2014 statements from one of his many brokerage accounts, in addition to his 2013 tax return. Those brokerage statements, from SBI Holdings Inc., showed liquid assets ranging from 4.4 billion yen to 4.8 billion yen. His tax return showed he traded 1.7 trillion yen worth of Japanese equities in 2013 -- about half of 1 percent of the value of all the share transactions done by individuals on the Tokyo Stock Exchange. On his busiest day, he says, he bought and sold 70 billion yen worth of stocks."

That is from CIS' bloomberg story.

The article I saw said the brokerage firm couldn't confirm the info. Yet, nothing wasn't mention about any tax returns.

Also, any trader on the Tokyo Stock Exchange that trades size like that are given a special ID as a professional trader. Simply, he's not a retail trader.