Trader on Reddit made $20 million this year , $1-3 million profits each trade

[schizo]

So from this we can logically conclude that you ARE making 100M per year.
I...am...flawless.

I might be flawless, but you're clueless. Keep that trap shut.

if I were making $100M, I would keep my trap shut.

 

[Overnight]

I might be flawless, but you're clueless. Keep that trap shut.

All lies.

 

[schizo]

All lies.

And it seems like too many people here, including you, wanna know who has the biggest dick in town. Yeah, no lies.

 

[Overnight]

And it seems like too many people here, including you, wanna know who has the biggest dick in town. Yeah, no lies.

You took it the wrong way. See you in a few weeks after you cooldown.

*shrugs*

Fucking whatEVER.

 

[schizo]

You took it the wrong way. See you in a few weeks after you cooldown.

*shrugs*

Fucking whatEVER.

Nah, I'm cool. I'm more Bob Marley than Massive Attack. But whatever.

 

[ironchef]

There is logic to his madness and it is not luck. Occasionally the market does mispriced some options.

Those successful directional option traders know where to find them.

 

[tradelosses]

It's not up to anything/year. He trades opportunistically, takes huge risk, could've lose all his money, and just had a great year. He may not do it again.
No hedge fund would even be allowed to take such risk or drawdowns.
But he pulled off huge wins a few times (while losing other times), and isn't as stupid as most others who just get lucky one time. This is not about a strategy but about someone trading opportunistically without a strategy, and showing that he can time the market better than others.
The Japanese trader Takashi Kotegawa (BNF) made $150 million making similar and larger bets, so yeah, why hedge funds cannot do this? It takes balls, smarts, and luck. We haven't heard of him doing it again either.
Same with Qullamaggie who made $100M, verifiable with publicly available Swedish tax records.

And same with Muhammad Ali. Why not everyone wins at boxing? What kind of question is it even?

His dropdowns are small because he only allocated 2-5% of his capital the trades yet still 20-50x his money. If anything, he is betting sub-optimally by Kelly and leaving money on the table.

I am looking into this more closely. Yeah, he has lost money on some trades but if he can make a 10-50x ROI from the winners, then the P&L is still strongly positive anyway,

 

[guru]

His dropdowns are small because he only allocated 2-5% of his capital the trades yet still 20-50x his money. If anything, he is betting sub-optimally by Kelly and leaving money on the table.

I am looking into this more closely. Yeah, he has lost money on some trades but if he can make a 10-50x ROI from the winners, then the P&L is still strongly positive anyway,

I thought he was betting more a while back, but maybe decreased his bet size %-wise since now $100K is a small portion of his account.

But it’s very difficult to replicate his success, with the proof being in other people not posting such wins. So “leaving money on the table” is relative because most people blow up using such strategies.
Sure some traders may not announce huge wins, but most would. Trading is about passion and winning, not only about quietly collecting money.

 

[Zwaen]

I thought he was betting more a while back, but maybe decreased his bet size %-wise since now $100K is a small portion of his account.

But it’s very difficult to replicate his success, with the proof being in other people not posting such wins. So “leaving money on the table” is relative because most people blow up using such strategies.
Sure some traders may not announce huge wins, but most would. Trading is about passion and winning, not only about quietly collecting money.

sorry disagree, there are a lot of quiet successful traders. It attracts introverts for a reason

 

[guru]

BTW, like most people I totally suck comparing to him, but I was in an $SPX options trade that would've made 5000%+ over a month ($15K on a ~$200 investment, though could be scalped at different levels). Then TDA forced me to close it due to too much long Vega. I feel so screwed when I reviewed its perfromance just now.

The only risk was in Vega, which was huge in Vega terms, but I didn't have any real serious risk according to my calculations.

Here is the risk chart as of today, after it's already $15K higher:

And here is one of the margin calls I got from TDA:

If I remember correctly, I might've had a similar trade at IBKR in the past without any issues, so I may trade those again there when opportunities show up.
Just won't dare to go in with huge size.