How do famous swing traders like Dan Zanger size up so fast?

[tsfx]

Kristjan is a lonely retail trader. Is it that hard to see the need for social engagement trading on his own? Isn't that why we all gravitate to ET?

Here's Kritjans tax returns for 2021:

De tjänade mest pengar 2021 – Bianca Ingrosso yngst på listan (nyheter24.se)

360 million SEK which is roughly $35 million.

I highly doubt he earned that from Twitch streams.

If you look further, I'm sure you'll be able to dig up his tax records from former and later years, too. This is public information in Sweden (as in Norway).

yeah, you're probably right.

If you look further, I'm sure you'll be able to dig up his tax records from former and later years, too. This is public information in Sweden (as in Norway).

No, i don't care that much to dig deep into this. It is what it is.

 

[PadusMom]

I have tried to follow how all these (Kristian Kullamaggie is another) massive traders took sub $10k accounts to $1mm+ all while keeping good R:R? I hear the whole trading community arguing to keep your risk <1% of your total account. If thats say a $5000 account then thats $50 risk per trade. No matter how I try to extrapolate an insanely profitable trade (lets say buy stock at $20 and sell at $180 risk $50 and buy 25 shares for $2 stop=$3989 profit) its still hardly any money (in relation to time and traders like Zanger doing it in 23 months). Now the above outlined fringe case is exactly that. Super hard for most people to land a stock like that once let alone multiple times. My question is, is it more likely that guys like him are far exceeding 1% and going closer to a kelly,half kelly,optimal f etc. to attain these gains? Anything im missing?

Please refrain from commenting that the gains possibly weren't audited, that CANSLIM/momo swing trading doesnt work,that your trading system is far better blah blah blah. Above is just an example of these kind of traders saying they do it in this short amt of time and how they do it.

Thanks and godspeed for some tendies fellow netizens

Larry Williams won quite a few trading contests risking 10%+. He https://www.trade2win.com/threads/larry-williams-money-management-technique.228440/ recommends this as a way to quickly grow an account with a winning system.

It's outlined in one of his books, but the win rate has to be really high for that to work.

 

[Scataphagos]

I have tried to follow how all these (Kristian Kullamaggie is another) massive traders took sub $10k accounts to $1mm+ all while keeping good R:R? I hear the whole trading community arguing to keep your risk <1% of your total account. If thats say a $5000 account then thats $50 risk per trade. No matter how I try to extrapolate an insanely profitable trade (lets say buy stock at $20 and sell at $180 risk $50 and buy 25 shares for $2 stop=$3989 profit) its still hardly any money (in relation to time and traders like Zanger doing it in 23 months). Now the above outlined fringe case is exactly that. Super hard for most people to land a stock like that once let alone multiple times. My question is, is it more likely that guys like him are far exceeding 1% and going closer to a kelly,half kelly,optimal f etc. to attain these gains? Anything im missing?

Please refrain from commenting that the gains possibly weren't audited, that CANSLIM/momo swing trading doesnt work,that your trading system is far better blah blah blah. Above is just an example of these kind of traders saying they do it in this short amt of time and how they do it.

Thanks and godspeed for some tendies fellow netizens

To size up fast, you need to bet big and be right... likely several/many times. We hear about a few who do in fact make it big... but there are scores more who tried and failed that we never hear about.

 

[Rams Fan]

"Now and then you're gonna catch these stocks that double and triple in a short amount of time. Those are the ones that are gonna make you rich. Everything else is just a grind. You gotta find those homeruns. Most of the time trading is just a grind. 70, 80% of the time."

-Kristjan Kullamägi

And in those few lines more value has just been added to ET than in all the posts of MW and longandshort combined.



Qullamaggie || Good Breakout................... - YouTube

 

[tsfx]

"Now and then you're gonna catch these stocks that double and triple in a short amount of time. Those are the ones that are gonna make you rich. Everything else is just a grind. You gotta find those homeruns. Most of the time trading is just a grind. 70, 80% of the time."

-Kristjan Kullamägi

And in those few lines more value has just been added to ET than in all the posts of MW and longandshort combined.

Actually, this only supports the arguments of M.W. & longandshort. Nailing a double or triple movement and sticking to it as if you knew they're gonna happen is nothing but luck.

But i guess we can call it a winners intuition.

Fortune favours the bold, right?

 

[tomkat22]

Thanks Laissez Faire for posting that link to the Swedish newspaper article. So Kris was the 15th highest money earner in Sweden for 2021 and taxed 35 million? Wow. I dont know what Sweden's income tax rate is but Kris' income would have had to been in the neighborhood of 70 million for that year. Not too shabby for a guy who traded alone with his cat in a spare room of his mom's house.

 

[Laissez Faire]

Thanks Laissez Faire for posting that link to the Swedish newspaper article. So Kris was the 15th highest money earner in Sweden for 2021 and taxed 35 million? Wow. I dont know what Sweden's income tax rate is but Kris' income would have had to been in the neighborhood of 70 million for that year. Not too shabby for a guy who traded alone with his cat in a spare room of his mom's house.

I think $35M was his income, not his tax bill. I would also assume that's pre-tax.

Capital gains in Sweden is taxed at around 30 % I believe.

 

[tomkat22]

I think $35M was his income, not his tax bill. I would also assume that's pre-tax.

Capital gains in Sweden is taxed at around 30 % I believe.

Thanks that would make much more sense. That's still a lot of coin for one year.

 

[tomorton]

And when the streak ends and the market moves a tiny amount against the trader he is out of ALL his positions. The conundrum remains: how could all those snake oil salesmen catch the attention of so many know-nothings with their massive lies and inflated numbers...any common sense should have raised tons of red flags.

Yes, all positions are closed at the same stop-loss level if price moves against you. I emphasise all, because many traders assume pyramiding is a one-off event on a winning trade. In fact you can add as many additional positions as your margin allows.

A new position is added each time the preceding trade gains profit equal to the first trade's capital risk. Granted, there is a significant loss of unrealised profits when all the positions are stopped out at once, but this is not capital loss, the capital loss never increases. I don't see that this characteristic invalidates the tactic.

It's a little tricky to manage and is worth trialling on a demo account.

 

[Rams Fan]

Actually, this only supports the arguments of M.W. & longandshort. Nailing a double or triple movement and sticking to it as if you knew they're gonna happen is nothing but luck.

If you think so, it's your money.