i want to profile another extremely successful japanese trader who became famous for making over 17 million dollars in under 10 minutes due to a mispricing error now many people thought i just got lucky but over a eight year time frame he managed to turn fifteen thousand dollars of his own money into well over a hundred and fifty million dollars in this video i'm going to talk about his approach to trading and more importantly about how you can learn from its mindset to hit the big score hey traders this is mike sir here i've been an active trader for over 21 years and a trader coach for the past 15 years in my videos i profile all the top traders in the world and teach you how to replicate their incredible success i've been fortunate to train many successful traders a month ago i profiled a very successful japanese day trader who made over 34 million dollars shorting the japanese stock market in this video i'm going to profile another successful japanese trader who shares similar personality attributes like cis this japanese trader referred to as bnf also profited big time during a period of time of volatility in the markets and has made a lot of money in bear markets however his claim to fame was when he took advantage of a trade when a trader working for mizuho securities made a fat finger error the trader at mizuho mistakenly tried to sell six hundred and ten thousand shares at one yen per share in a recruiting company called j com which at that time had just completed an ipo the trader actually had intended to sell one share at 610 000 yen by the time this trader realized his mistake he couldn't cancel the trade and traders like bnf pounced and brought as many shares as he could at one yen per share at the end of the trading session bnf ended up with a profit of over 17 million dollars due to this clerical error now even though this trade netted him a lot of profits this is only a small portion of the 150 million dollars in what he has made in his trading career now let's go into his trading approach and how you can learn to trade like him bnf trading strategy is pretty simple he likes to buy stocks when they have fallen a lot and are out of favor with investors it's kind of like a bottom fishing approach but he doesn't look at a company's fundamentals to determine which company is undervalued but rather he uses technical analysis and charts to determine when the right time is to get into these beaten down stocks his trading style is to buy oversold stocks with the aim of profiting from an upward trend change in its price he's not a long-term investor but a swing trader who typically holds stocks between two to six days however sometimes he would hold it longer than a week depending on what the charts say he thinks that bear markets are easier to trade and i don't disagree with him bear markets tend to have more volatility and offer more trading opportunities as well you usually see many bear market rallies which refer to sharp short-term price appreciation in the stock market even though the general trend is still down now they are buying panics fueled by short covering and a fear of missing out on a recovery now let me give you an example here's a chart of the s p 500 index which measures the performance of the top 500 companies in the u.s stock market between 2007-2009 now you can see here on the chart you can see the number of times that the stock market has experienced a surge in prices and particularly the sharp percentage increases in a very very short period of time you can see here that the stock market here even though the trend has been following you can see that in four days it rose fifteen point seven percent same thing here in seven days it rose eighteen point seven percent in forty six days it rose twenty four percent uh in seven days it rose eight point eight percent and again you can see here eight percent 13 6.5 8.5 3.7 so what are the lessons you can learn from this trader's mindset and how he thinks about the financial markets let me give you one lesson here focus and concentration when bnf is trading he's very focused and does not allow for any distractions he's constantly monitoring his 30 to 70 positions in the markets and scanning for opportunities among his 600 to 700 stocks list by seeing how his positions are performing he can get a sense of market sentiment and trade accordingly lesson number two view trading as a game bnf views trading has a zero sum game where there is a winner and there is a loser so if you decide to play this game called the stock market or financial market then you play to win bnf treats trading like a video game where you don't focus on how much money the game will make you but rather on how you can win the game now too often times we focus on the end result which is how much money we will make or lose on our trades and not how we can execute this trade to perfection and win the trade so viewing trading like a game would definitely change your perspective on how to approach your trades lesson number three don't focus on the results bnf had an excellent quote when he was interviewed about his trading success he said that if you care about money too much you cannot successfully trade now to him losing a hundred thousand dollars can actually feel better than making six thousand dollars if the losing trade was a good trade and the winning trade was a bad trade now the lesson to learn here is to focus on the trading process and following and follow the trading strategy rather than what the result of the trade is now if you have a proven trading strategy it should work over the long term and if it doesn't then you exit the trade at a small loss the last lesson is live a modest lifestyle a b f is worth over a hundred and fifty million dollars in net worth and like fellow trader cis he lives a very modest lifestyle now he doesn't feel a need to spend money on luxury items and after his big score he only bought two video game consoles he however owns his own condo in tokyo where he trades from and owns an office building for investment purposes only now too oftentimes if you live a luxurious lifestyle you feel you need to make enough money to support this lifestyle and this would impact your trading decisions so let me end this video with a question for you so just imagine for a second if you had a billion dollars and had reached all your financial goals how would this impact your trading if you were to continue trading and i can bet you 100 that you would approach trading very very differently thanks for watching if you like this video there are three things you can do first is smash the like button for the youtube algorithm hit the subscribe button to watch more videos like this and hit the notification button so you'll be notified of future videos where i profile the best traders second if you're looking to learn how you can be the next top trader please go to my website mikeser.com to download my free ebook become the next millionaire where i profile a few of my millionaire students lastly if you're looking for a mentor and want to learn directly from me please go to mikesword.com to apply to work with me