Why are the Japanese day traders so rich?

P

pinetboltz

a few minutes earlier Bloomberg came out with a story about how one Japanese day trader had a $75mm drawdown

i thought it was CIS, but it turned out to be another guy

apparently the $75mm drawdown only represented 20% of his personal portfolio

so somehow he amassed at least US$370+ million

& there are at least a few others like him known to the public.

who knows how many in total there are across Japan

why are the Japanese day traders so good? ie. getting to fortunes of hundreds of millions USD as individual day traders, while still in the prime of their lives

it sure beats the randos making $3000 a pop on Tesla option plays

or the PMs grinding out 2% per annum while dealing with nyc rents
 
pinetboltz said:
a few minutes earlier Bloomberg came out with a story about how one Japanese day trader had a $75mm drawdown

i thought it was CIS, but it turned out to be another guy

apparently the $75mm drawdown only represented 20% of his personal portfolio

so somehow he amassed at least US$370+ million
...
why are the Japanese day traders so good? ie. getting to fortunes of hundreds of millions USD as individual day traders, while still in the prime of their lives

it sure beats the randos making $3000 a pop on Tesla option plays

or the PMs grinding out 2% per annum while dealing with nyc rents
More...

If you put 1 billion into your account and have a 75 million drawdown, it means you are down 7.5% on a trade. It is not totally outrageous.

Does not mean he is a good daytrader, because most people will say that risking more than 1-2 percent on a single trade is dumb.
 
Overnight said:
If you put 1 billion into your account and have a 75 million drawdown, it means you are down 7.5% on a trade. It is not totally outrageous.

Does not mean he is a good daytrader, because most people will say that risking more than 1-2 percent on a single trade is dumb.
More...

You don't get 1Billion in your account, by playing it safe, so a double edged sword.
 
clacy said:
If you amass $370m USD why would you continue to day trade?
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Some people like trading and working strangely, never going to get it, I trade to rent and bills and fun money then stop each month cause lazy, some trade to billions but never spend it, just crazy.

Billionaire = 10 TOP hookers, anything goes, every damn night till bored, which would be NEVER!!
 
Overnight said:
If you put 1 billion into your account and have a 75 million drawdown, it means you are down 7.5% on a trade. It is not totally outrageous.

Does not mean he is a good daytrader, because most people will say that risking more than 1-2 percent on a single trade is dumb.
More...


EDIT: Never mind I withdraw my post (if someone has already quoted and responded, I'll respond).
 
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