Keep this in mind to be a pro trader! The most successful Japanese Trader BNF(Takashi Kotegawa)

Summary

In this video, Kei, a Tokyo-based forex trader and mentor, introduces BNF, a renowned Japanese investor. BNF's success in increasing his initial $14,000 to $150 million in 8 years is attributed to his emotionless trading approach. Kei emphasizes the importance of trading with a neutral mindset, avoiding emotional attachment to profits or losses, and treating investment funds as expendable. This mindset, inspired by BNF, is crucial for long-term trading success, as it prevents psychological interference with rational trading decisions.

Takeaways

• 🔹 BNF is a renowned individual stock trader in Japan who started trading at 21 with $14,000 and grew it to $150 million in 8 years.
• 🔹 The key to BNF's success is maintaining an emotionless and rational approach to trading.
• 🔹 BNF demonstrates no facial expressions or emotions when discussing his earnings, which emphasizes his detached mindset.
• 🔹 BNF avoids withdrawing money to prevent emotional attachment to cash, making trading less stressful.
• 🔹 Trading should be done with spare money, not funds needed for living, to maintain objectivity and avoid emotional trading.
• 🔹 BNF's unemotional and machine-like trading style is contrasted with emotional reactions from interviewers.
• 🔹 Passion and emotions can hinder long-term profitability in trading, unlike in leadership or entrepreneurship.
• 🔹 Successful trading requires a neutral mindset, free from emotional influences related to money.
• 🔹 Viewing trading funds as already lost helps traders cut losses rationally and stay objective.
• 🔹 Winning traders do not attach emotions to their positions and trade according to pre-defined scenarios rationally.

Q & A

Who is the main subject of the video script?

The main subject of the video script is BNF, an individual stock trader from Japan.

What is the significance of BNF's trading success?

BNF's trading success is significant because he managed to increase his initial fund of $14,000 to over 150 million dollars within 8 years, demonstrating exceptional trading skills.

What is the key attribute of BNF's trading style according to the script?

The key attribute of BNF's trading style is his ability to trade without any emotional attachment, treating his investments with a neutral mindset.

How does BNF handle his emotions during trading?

BNF handles his emotions by not showing any facial expressions or emotional reactions, even when discussing significant gains or losses.

What lesson does Kei, the narrator, learn from BNF about trading and emotions?

Kei learns that to be successful in trading, one should not let emotions interfere with rational trading decisions and should treat the trading fund as spare money, not money for living.

Why does BNF choose not to withdraw money from his trading fund?

BNF chooses not to withdraw money to avoid the emotional hardship that comes with seeing the actual cash, which could affect his trading decisions.

What is the narrator's approach to trading after learning from BNF?

The narrator's approach to trading is to maintain an empty mind, not expressing optimism or pessimism, and to invest and trade with a neutral mindset.

What advice does the narrator give about the mindset of a trader?

The narrator advises traders to train themselves to switch from being passionate or emotional to being more neutral and detached while trading.

How does the narrator suggest treating money once it's put into a forex account?

The narrator suggests treating money in a forex account as if it has been thrown away and will never come back, to avoid emotional attachment and rationalize cutting losses.

What is the narrator's perspective on the role of emotions in trading and investing?

The narrator believes that while emotions can drive humans to achieve more in other areas, they are detrimental to trading and investing, where objective and rational decisions are crucial.

What does the narrator suggest as the first step to change one's mindset for trading?

The first step to change one's mindset for trading, according to the narrator, is to view the money in the trading account as if it were Monopoly money or part of a board game, devoid of real-world value.

Outlines

00:00

📈 Mastering Emotionless Trading: Lessons from BNF

In this paragraph, Kei introduces BNF, a highly successful individual stock trader from Japan, who managed to turn a $14,000 investment into over $150 million within 8 years. The key to BNF's trading mastery, as Kei explains, is his ability to detach emotions from his trades, maintaining a neutral mindset akin to a machine. Kei recounts BNF's composure during TV interviews, where he discusses his earnings without any change in facial expressions or tone of voice. This emotional detachment is contrasted with the interviewer's emotional reactions to BNF's trading volumes and wealth. Kei emphasizes the importance of not letting emotions interfere with trading decisions and suggests that using spare money for trading is crucial to maintain this mindset.

05:00

🧘‍♂️ The Neutral Mindset: Beyond Emotions in Trading

The second paragraph delves deeper into the concept of maintaining a neutral mindset in trading, as exemplified by BNF. Kei discusses the pitfalls of allowing emotions to influence trading decisions, such as getting attached to profits or losses, which can lead to poor execution. He shares his personal approach to trading, which involves treating the money in his forex account as if it will not be seen for another 10 years, thus detaching any emotional value from it. Kei also warns against the allure of materializing profits, as it can hinder long-term success in trading. He encourages viewers to adopt a mindset similar to playing a board game, where the currency has no real-world value, to achieve the necessary emotional detachment for consistent trading success.

Keywords

💡Forex Trading

Forex Trading, short for foreign exchange trading, is the act of buying and selling currencies in the global market. It is a decentralized market where all trading participants buy and sell currencies simultaneously. In the video, Kei mentions being a pro forex trader and discusses the importance of emotionless trading in this context, emphasizing the need to detach emotions from financial outcomes to make rational trading decisions.

💡Mentor

A mentor is someone who imparts knowledge, wisdom, or guidance to others, often in a professional or educational setting. Kei introduces himself as a mentor based in Tokyo, Japan, indicating his role in guiding others in the realm of forex trading and investment.

💡Investing

Investing refers to the allocation of money with the expectation of generating income or profit. It is a key concept in the video as Kei discusses learning from BNF, a successful investor, and shares insights on how to approach investing with a dispassionate mindset.

💡Emotionless Trading

Emotionless trading is the practice of making trading decisions without being influenced by emotions. Kei highlights BNF's ability to trade without emotional attachment as a key to his success, noting that this approach allows for more rational and effective trading strategies.

💡Fund

In the context of finance, a fund refers to a pool of money set aside for a specific purpose, such as investment. The video mentions BNF starting with a fund of $14,000 and growing it to over 150 million dollars, illustrating the potential for significant growth through savvy investing.

💡Rationality

Rationality in trading refers to making decisions based on logic and reason rather than emotions. Kei emphasizes the importance of executing trades based on economic rationality, which is a central theme in the video's message about trading psychology.

💡Spare Money

Spare money is money that is not needed for immediate expenses or living costs. Kei advises using spare money for trading funds to avoid emotional attachment to the investment, which can cloud judgment and affect trading performance.

💡Profit

Profit is the money gained from a successful investment or trade. The video discusses the psychological impact of focusing on profit and how it can lead to poor trading decisions if one starts to imagine the material benefits of the profit.

💡Passion

Passion refers to a strong emotional drive or enthusiasm for something. Kei contrasts the need for passion in leadership and entrepreneurship with the requirement for a neutral mindset in trading, where passion can lead to irrational decisions.

💡Neutral Mindset

A neutral mindset is an impartial and balanced state of mind, free from strong positive or negative emotions. Kei describes adopting a neutral mindset as crucial for successful trading, as it allows for clear-headed decision-making unaffected by emotional extremes.

💡Psychological Intervention

Psychological intervention refers to the influence of emotions or mental states on one's actions or decisions. Kei warns that psychological intervention can hinder long-term trading success, emphasizing the need to manage emotions to achieve consistent profitability.

💡Ichimoku Sanjin

Ichimoku Sanjin is the pseudonym of the Japanese journalist who developed the Ichimoku Kinko Hyo technical analysis method. Kei cites Ichimoku Sanjin's advice to 'always trade just like you have no positions,' highlighting the importance of detaching emotions from trading actions.

Highlights

Introduction of BNF, a highly successful individual stock trader in Japan.

BNF's impressive track record: turning $14,000 into over 150 million dollars in 8 years.

The importance of emotional detachment in trading, as exemplified by BNF.

BNF's lack of facial expressions when discussing significant financial gains.

The contrast between the emotional interviewer and the stoic BNF during a TV show.

BNF's philosophy on not withdrawing money from investments to avoid emotional attachment.

The psychological impact of focusing on running profits and its potential to hinder trading success.

The recommendation to use spare money for trading to avoid emotional interference.

The unsuitability of individuals relying on investment for living for trading due to emotional risks.

The potential negative impact of passion and emotions on long-term trading profitability.

The comparison between the roles of a trader and a business leader, highlighting different emotional requirements.

The speaker's personal trading philosophy of maintaining a neutral mindset.

The goal of the speaker's forex mentoring service to emulate BNF's trading mindset.

The advice to view trading funds as long-term investments, not to be accessed for 10 years.

The concept of treating trading funds as 'thrown away' to facilitate rational loss management.

The psychological barrier of not getting emotionally attached to the value of money in trading.

The strategy of viewing trading funds like Monopoly money to maintain emotional neutrality.

The final advice on the importance of emotional neutrality for consistent trading success.

Ichimoku Sanjin's quote on trading without attachment to positions for rational decision-making.

Transcripts

Hello, welcome back to my other video.

My name is Kei and I am a pro forex trader as well as a mentor baed in Tokyo, Japan.

Today, let me introduce one of the most profound investors in Japan I think and also, let me

share what I learned from him, and what you can also learn from this guy.

His name is BNF and he is an individual stock trader.

I learned so much from him when I first started to learn about investing and even now, there

are a lot to learn from him still.

Well, BNF started stock trading when he was 21 years old with a fund of about $14,000

and in 8 years, at the age of 29, he increased the fund to more than 150 million dollars.

And why I think he is the master of trading is not just because he is good at tradings

or not because he is smart.

What is it?

It's about emptying the mind without any emotions attached to his tradings.

What I thought when I first saw him on one of the TV shows in Japan was, for example,

like when he was talking about how much he earned on the month, he said he gained a million

dollars on the month, but when he talks about it, his face doesn’t move, no facial expressions.

And when he talks how much he gained in the past year, he said it was 100 million dollars,

and when he talks about that too, he never shows his feelings to it, I mean no facial

expressions, but he said that with the same tone of voice.

And I still remember it gave me the most impact and it was very sensational to me at the same

time.

Actually on the TV program, the interviewer says for example when he looks at BNF’s

trade volumes, he says “wow I cannot stand with the pressure to deal with that much money”

with some difficult, struggled face on it.

Or when he realizes how much capital BNF has, he goes “wow so you can live now without

working for your entire life” with some big smile on his face, things like that.

You know the interviewer was so emotional every time he sees how BNF is trading, because

he was standing right next to BNF and watching his trades, and the interviewer was very emotional.

but in contrast BNF never shows his emotional expressions, trading just like a machine or

something, and that was a great great lesson to me.

Also, on a different talk show, BNF said that he never withdraw money.

He said he stays away from looking at the actual cash because when he sees it, then

the investment becomes hardship for him.

And this is exactly what I feel too.

For example, when you are winning trades and look at the running profit of like $10,000,

as soon as you start think what you can do with that much money, that much profit, like

you might imagine you can buy this or go there, or like pay debts, and so on, as soon as you

start to imagine like that, you never have a chance to gain the amount of money you desire.

So here is the lesson.

When you are trading, you never stick to the actual money.

because when you stick to money and start counting cash, then your emotion gets in,

and you cannot be able to execute trades based on an economic rationality.

And that’s why the trading fund should be with your spare money.

For those who puts their money for living into investment, they are the worst suitable

for trading.

Also, funny thing about the interview was, when BNF shows no emotional expressions during

the interview, the interviews said “are you happy with this job?” in which he replied,

oh yea..

Then on the studio side, there was an owner of ramen show and he said the way BNF is living

is unbelievable, not really in a good way, I guess because he didn’t feel the passion

from the way BNF trades.

But I wanted to make it clear here.

If you have been trading for some time already and if you already start to question “is

this what brings happiness?” if you start to think like that, then you cannot be in

this world for a long time.

In other words, if you think your life becomes great with full of emotions, and feelings

by this job as a trader, then to be honest, you shouldn’t become a trader.

And that’s why, entrepreneurs, or business owners, for example, do not always do good

on investment because their main job is to lead other employees or members in a group

by taking about his dream and will with the positive tone of voice, motivation, and passion,

right?

That’s usually what’s required to be a leader.

However, even if you put your value of life in passion and emotions, that doesn’t always

lead to be able to make profit overtime in forex, well, most of the time, that’s what

drags you from making profit.

Also, if you value communication skills, social skills, and sense of relationship to others,

if you value it too much, then that also can be what makes it difficult to make profit

over time.

For me, my nature is empty mind, like when anything great happens, then that’s great

but I am a type of person who don’t express it too much.

And I’m not too optimistic but not too pessimistic either.

I only invest and trade with neutral mindset and that’s why I can do good on trades.

And I learned that from BNF.

In my forex group mentoring service, the goal is to become like BNF, like he won’t be

happy just by gaining money.

And he won’t be sad just by losing trades and losing money.

But if you have a habit of converting the profit or running profit to the materials

or cash in a real world, then it actually makes it difficult for you to win over time

because your emotion is already getting into trading.

So you need to train yourself to switch your mindset from being passionate to not being

passionate, or from being emotional to not being so emotional every time while 7trading.

So let me tell you how I think once I put the money into forex account.

Once I put my money into forex account, I think myself that next time I see the money

again will be 10 years later.

And if you can’t imagine like this, I mean, if you cannot wait and expect how it turns

after 10 years, if you cannot imagine like that, then you might not be ready yet.

You might be putting too much value on money and your emotion is still attached to the

fund.

So in that case, you better change your mindset.

Like when you put your money into a forex account in your broker, just think you threw

that money away and its’s gone.

It never comes back to you.

The reason why I say this is if you cannot think you threw that money away, then you

cannot cut loss rationally and objectively.

So, think like from a moment you put the money into your forex account, it’s gone, and

never come back to you.

And even if you win a couple of times, you don’t be happy.

The reason why I say this again and again is, if you cannot understand this, no matter

how much you study about technical analysis, you never win overtime because of the psychological

intervention.

So you win but don’t get happy, you lose but you don’t feel sad.

Don’t put your mind into the value of money itself, thinking like if I had this much money,

I would be buying this, or doing that, things like that, you know.

Don’t put your mind into the value of money while trading, and if you cannot do it, you

are not ready yet psychologically.

In other words, you better think it’s like a cash in monopoly or other board games and

this is going to be the very first step to switch your mindset.

And if you really get this, then you can do all I explain in the videos, like placing

positions where it should be, taking profit where it should be, and also you can cut loss

where it should be.

So emotions, like feeling good, feeling bad, or passion is what brings human kind to the

next level, but it’s not the case when it comes to trading and investing.

Ichimoku Sanjin, the inventor of Ichimoku Kinko Hyo, also states “alway trade just

like you have no positions.”

So even after you place positions, the winning traders won’t attach their emotions to it.

According to the scenarios, they just do what they should do objectively and rationally

every time they trade one after another.

Alright, thank you for watching until the end.

If you thought this video gave some kind of inspiration to you, then press a good button.

And also make sure to subscribe as I keep uploading videos and lives everyday.

Alright, Stay gold, and have a great trading life.

Matane