BNF: from 1.6 million yen($13,600) to 18 billion yen($153 million) in 8 yrs

Discussion in 'Trading' started by richardyu301, Jun 1, 2008.


    On October 9, TV Tokyo broadcasted a special program that consisted of information about US subprime mortgage woes, worldwide market turmoil in this summer and gold market price.

    This man(29-years-old) is most famous Japanese individual stock day trader named Takashi Kotegawa, his nickname is gBENEFh. He has increased his own fund from 1.6 million yen($13,600) to 18 billion yen($153 million) for 8 year or so (I have ever introduced his information to FF members in May).

    Anterior half: His trade room which he bought a condominium in cash thatfs worth 400 million yen. On August 17, when he saw big fall of Tokyo market, he decided to become wait-and-see stance. He said that his decision was the worst in this year and he deeply regrets that he failed to earn 500 million yen at that time.

    Last half: After FOMCfs interest rate cut, he sold all his stock holdings(financial sector stocks etcc) and he earned 400 million yen by the close of morning trading. He said to the announcer, gI donft know Japanese stock marketfs future. I donft look at market from a long-term perspective.h

    How does this ultra-rich day trader live? A TV program that aired on Sunday night asked him a few questions about his lifestyle:

    What is revealed:

    The most expensive thing he bought recently were two Nintendo Wii gaming systems.
    He doesnft carry around large amounts of cash because he feels that looking at it would hurt his ability to make sound judgments when daytrading.
    He eats cup ramen for almost all of his meals. Not only does it save time, it also prevents him from eating large meals that make him sleepy.
  2. thrunner


    Top traders all seem to make the right trades at the right time, although I would like to know how he got into this fat finger trade and made $20M.
  3. ggoyal


    if that was here. Somehow, the govt. would take it away.
  4. That is the case in US but in Japan the other side doesn't the obligation to accept. In this case, the institutional traders accepted to void the trade but none of the individual traders agreed.

    And this guy is making money not just out of this trade. He seems to be a consistent day trader according to other articles about him.
  5. Cr0nos


    I was amazed when I watched the interview how this man 'was'.
    I mean, he looked very humble. ( and not very dynamic but I read
    he was a 'hikikomori' before ^^ maybe it is an explaination )

    Concerning this trade on 8th december, firstly it appears
    to me logical that they don't have to give back their
    earnings. Yes, it was an error, but hey, are you automatically
    refunded when you make an error and lose a trade ? :D

    But secondly, the thing that seems more important to me, is that
    this man was on the good stock, at the good moment and
    on the right direction.
    That is no coincidence for me (as we can objectively say even
    if we don't consider this particular trade that his trading record
    shows he is talented ) and although it seems to be an error, and so
    something 'unpredictable', this reinforces my idea that whatever happens,
    the market will make you feel it will happen.

    (hum, not sure about my english ^^' )

  6. candymr2


    I agree. Although he made 20 million on the institutional error, he has been able to compound those gains into 150 million. There is skill involved here.