Why are the Japanese day traders so rich?

Discussion in 'Trading' started by pinetboltz, Mar 30, 2020.

  1. pinetboltz

    pinetboltz

    uh --- if you look at the Bloomberg article, it specifically points out that:

    1) He is a "prolific day trader" - the second line of the article

    2) that it's his assets, in that his name "appears in mandatory shareholder filings" - as they did for guys like BNF / Takeshi Kotegawa, where apparently in the Japanese markets like in the west they have specific Record Dates where as long as you own the shares on that particular day, you'd be eligible for dividends -- to the best of my knowledge they don't write company employees' names as the actual shareholders if they are hired to run OPM, other peoples money

    3) He says he "lost about 8 billion yen," equiv to USD$75 million in the last month, or around "20%" of his assets. Bloomberg updated the story about 4 hours after it was originally published, to show that he has around 45 billion yen in total (USD$420 million).

    4) They reiterate again that it's his own money, in that after he worked as an employee overseas, but then returned to Japan "in 2013 to go it alone"

    So what if he doesn't always sell at 3pm Tokyo time when the TSE closes every single day for every stock he owns

    The fact is that as Bloomberg reports, he trades actively ("prolific day trader"), is not an employee of any firm & the hundreds of millions USD is all his
     
    #21     Mar 30, 2020
    Sprout likes this.
  2. tsznecki

    tsznecki

    You sound angry. You mean to say other races have never heard of a casino?

    Ironically you are making this statement on a trading site. LOL. @Clubber Lang you are the poster child for Dunning Kruger.
     
    #22     Mar 30, 2020
  3. Nobert

    Nobert

    Only a guess.

    Their work ethic culture. Wheres in the west, someone after having a first one or two amazing, will be done for that day, or even week, those guys will be milking it till the last second of the trading session.

    E.g a simple labor worker might work overtime hours and that is considered a good thing over there, now i can only imagine the attitude from the pros.
     
    #23     Mar 30, 2020
  4. SanMiguel

    SanMiguel

    I dunno, have you ever used an ichimoku chart? It's f***ing brilliant. All these clouds and shit. Genius.
     
    #24     Mar 30, 2020
    Nobert likes this.
  5. gaussian

    gaussian

    #25     Mar 30, 2020
  6. ironchef

    ironchef

    It is very presumptuous of you to assume/question there are no such traders on ET?
     
    #26     Mar 31, 2020
  7. pinetboltz

    pinetboltz

    nope, it is very presumptuous of you to assume that i have assumed such a thing :sneaky:
     
    #27     Mar 31, 2020
  8. tsznecki

    tsznecki

    #28     Mar 31, 2020
  9. Ten every night? You'd easily get bored.

    My personal record is 6 in one day. This was in Santo Domingo (Dominican Republic) back when I used to drink a lot.
     
    #29     Mar 31, 2020
    Turveyd likes this.
  10. gaussian

    gaussian

    My mom says that about me too.
     
    #30     Mar 31, 2020