What is the trading psychology of a $400 million trader?

What does the video claim, and what is independently verified?

The video makes claims about a $400 million account, $8 million in daily profit, and Rihari's own results. None is independently verified. The two outside facts cited here, an ASIC loss statistic and a BIS market-size figure, confirm no individual trader.

The video is a podcast episode titled The Psychology of a $400 Million Trader (BWE Podcast Ep. 3). Every personal figure in it comes from the speakers themselves. The table separates what the video says from what an outside source records.

| Claim | Who makes it | Independent check | |---|---|---| | A $400 million account earns about $8 million a day | Rihari says, about an unnamed American former mentor | None supplied: no name, statement or record | | That account places about 20 trades a day, with profit and loss figures such as $80,000, $120,000 and $200,000 | Rihari says he has seen the profit and loss statements | None supplied | | Rihari made $110,000 in a single day in 2023 | Rihari says | None supplied | | Rihari lost roughly $50,000 over his first year or so of trading | Rihari says | None supplied | | 68% of Australian retail CFD investors lost money in the 2024 financial year | ASIC Report 828: Risky business | Published regulator report | | Average daily OTC foreign-exchange turnover was US$9.6 trillion in April 2025 | BIS 2025 Triennial Survey | Published survey |

The transcript behind this article is auto-generated captions with no speaker labels. Some lines may belong to a co-host rather than Rihari, and figures are reported as captioned. Where the speaker is unclear, this article writes "the video says" instead of naming Rihari.

What does Rihari say about the $400 million trader?

Rihari says he knows someone with a $400 million account who makes about $8 million a day, and describes that person as an American former mentor. The video uses the story to make a mindset point about disbelief toward results beyond a person's own level.

The story appears twice. It opens the episode as a teaser, and it returns midway when the hosts discuss how friends and family react to someone starting to trade. Rihari says friends and acquaintances often called trading a scam, and the video says people find results hard to accept when they sit far above their own.

Rihari describes levels of income, with the $400 million account owner on a level far above his own. He says he has seen the account owner's profit and loss statements, that the person places about 20 trades a day, and that the amounts are like $80,000, $120,000 or $200,000. A co-host reacts with "are you serious" and later jokes that the $400 million figure is now the goal. Rihari gives no name, no broker, no statement and no date.

What the numbers show. Taken at face value, $8 million on a $400 million account is a 2% gain in one day. That is simple arithmetic on the claim, not a finding. The other figures do not reconcile neatly: 20 trades at $80,000 to $200,000 each would total $1.6 million to $4 million, below $8 million. Rihari may have been speaking loosely, or the captions may be wrong, so this is a reason for caution, not evidence against the claim.

What the story does not establish.

• That the account exists, or that the profit figures are accurate.
• That the result repeats from day to day or year to year.
• That any reader can reach it, or that doing so is safe.
• Anything about the psychology of the account owner. The video reports no words, habits or decisions from that person.

The psychology the episode actually discusses is Rihari's own, covered in the sections below.

How does Rihari say risk per trade changes as an account grows?

Rihari says he would risk a smaller share of the account as it grows: 10% per trade on $10,000, 3 to 5% on $100,000, and 2 to 3% at about $1 million. He says the aim is not being stupid with larger amounts.

The table lists what Rihari says, in the order the video gives it. The $10,000, $100,000 and $1 million rows are answers to hypothetical questions about what he would do. The $5,000 row describes what he says he often did.

| Account size | Risk per trade Rihari describes | Dollar figure the video gives | Reason Rihari gives | |---|---|---|---| | About $5,000 | Risking the whole account, which he calls full margin | Up to the full $5,000 | He says he does not mind losing an amount that small to him | | $10,000 | About 10% per trade | $1,000 per trade | He says he would not care about losing $1,000 | | $100,000 | 3 to 5% | $3,000 to $5,000 per trade | He sees no point in risking $10,000 of it trade after trade | | About $1 million | 2 to 3% | About $20,000, which he asks whether anyone wants to lose | He says 10% would mean losing $100,000 | | $400 million | No percentage given | He says he would not care about losing $1 million | None beyond the size of the account; $1 million is 0.25% of $400 million by simple arithmetic |

The stated driver is dollars, not percentages. The video says a co-host asked why his approach changes when capital rises if trading is a percentage game. Rihari answers that a $1,000 loss does not bother him on a $10,000 account, while he sees no point risking $10,000 of a $100,000 account trade after trade. In this account, psychology is a question of how large a dollar loss the trader can absorb calmly.

Full-account risk. Rihari says he risked entire accounts many times ("I used to do it all the time") and no longer needs to because his account is larger. He describes a content idea: put about $5,000 into an account, risk all of it on one news trade, and see whether it becomes $25,000, then take some out and repeat. He says his news trades are quite often wins because of his fundamental analysis, and that other trader influencers call news trading gambling. No evidence is supplied for either view. Risking a whole account on one trade means one loss ends it, and the same episode records how quickly small accounts fell when he started: a first $500 lost, and a later $1,000 falling to about $200 in four days.

How does the video link past losses to emotional calm?

The video says Rihari stayed calm on a live call while about $20,000 down, and a co-host attributes that to earlier losses. Rihari says he lost heavily early on, including roughly $50,000 over about a year, before results improved in 2023.

Rihari's account of his path, all unverified, runs as follows:

• November 2020. He says he began learning to day trade after earlier buy-and-hold stock investing. He says he lost his first $500 without understanding spread or commission, then watched a later $1,000 fall to about $200 in four days.
• The first year or so. He says he funded trading from his real estate income, putting about $4,000 into trading from each house sale, and lost roughly $50,000 over more than a year. He says he began trading news knowing nothing about it, despite warnings.
• About 14 months. He says this is when he became profitable enough to cover bills and have spending money.
• The second year. He says he got to just over break even.
• 2023. He says things came together as he stuck to his plan and risk management and learned to read charts rather than follow patterns. He says he made $110,000 in a single day that year, and that his losing trades were about 2% of the account and his winners about 5 to 6%.

These milestones overlap and the video does not reconcile them, so treat the sequence as approximate.

The co-host's theory. The video says a co-host links the calm on the live call to this history: after losing that much money, a 1% loss is nothing to him. Rihari's own comment is that he lost a ton early, thinking he was ready to make millions, and that it comes back to enjoying the journey.

Process over outcome. Rihari says beginners fixate on the end result, "money money money", and forget to work on the process. He says a big day gives an ego boost, and daydreams about a Lamborghini pull attention away from the process. He says warnings do not prevent this: emotions such as greed arrive after a big win, and everyone learns that lesson eventually. He also says trading is not a get-rich-quick scheme while saying it can change your life. The video supplies no evidence for the second claim.

Numbers on the screen. The video says psychology changes with the numbers on the screen: winning $5 on a $100 account feels different from seeing gains in the hundreds or thousands on a $100,000 account, and Rihari calls that transition huge. It presents prop firm accounts as a way to experience larger numbers, quoting about $150 for accounts sized from $50,000 to $150,000, and it mentions limits such as a 10% maximum drawdown on a $500,000 funded account. These are the speakers' recollections. Terms are not given in full and were not checked.

Golf. The video also draws on golf. It says drawdown is the bunker, and Rihari says a double bogey needs two birdies to recover, so the skill is resetting for the next hole, which is the next trade. Rihari says reaching a scratch handicap made golf less enjoyable because of the expectations he placed on himself, and compares that to followers who expect him to win all the time.

What habits does Rihari say keep his head clear?

Rihari says he keeps his trading psychology stable by skipping trades on bad days, reading his goals and plan, removing sources of stress, and spending time helping others. He offers these as personal habits, and the video supplies no evidence that they improve results.

• Skipping trades. Rihari says he might be having a bad day and simply not trade, and calls that discipline. He says it does not happen often. He says being overtired, helping family, or being exhausted can affect trading.
• Outside stress shows on the charts. The video says a co-host uses yoga as a comparison: how you are in life is how you are on the mat, and stress from outside shows up when the charts open and thinking will not come straight.
• Goals and plan. Rihari says he reads over his goals and plan to check that he is sticking to them.
• Less stress, smaller circle. Rihari says he removes what he can that is stressful, keeps a very small circle of people, avoids arguments, and helps people in his community, which he says lifts his morale.
• Body. Rihari says he aims for 10,000 steps a day, is eating at a calorie deficit and goes to the gym, and says being fit leaves a person more alert. A co-host adds that a strong body means a strong mind.
• Environment. Rihari says he wants to move to the Gold Coast because he says the environment gives him a clearer mind than New Zealand does. He says he has never cared what people think, and that he nearly stopped teaching because of negativity, including tall poppy syndrome. He says his psychology was not there at the time.

These are personal routines. The video does not test them against results, and none replaces the risk controls in the table above. Rihari's central psychological claim is that trading with bad psychology means all you are going to do is lose. He offers it as a view, not a finding.

What process does the video describe for practising before risking real money?

The video describes a sequence: choose a path, learn from a course or mentor, practise on a demo account, back-test with replay software, and only then fund a live or funded account slowly. Rihari presents it as his own view, not a proven method.

1. Decide the path first. Rihari says that with $1,000 the first step is deciding what you want to do, whether trading or another side business, before spending anything.
2. Get structured teaching. He says to buy a course or find a mentor, and puts most courses at $250 to $500. He says he waited about 14 months before buying courses and mentors himself. Rihari sells trading education, so this advice is not independent.
3. Practise on a demo account. He says to trade a demo account in the first month while watching the lessons, then apply each lesson on the charts and ask questions where stuck.
4. Back-test with replay software. He says replay tools let you practise without a live market and produce statistics. He says he looks for at least a 50% win rate with an average reward of one to two or one to three times the amount risked before concluding a trader will be profitable. That is his benchmark. No source supplied shows it produces profit.
5. Move to a small live or funded account only after demo results look good. He says to put remaining money into a live or funded account, and to take it slow and steady.
6. Wait for consistency before adding money. He says he wanted two months of consistent weekly percentage gains on a very small account before adding capital, and that it took him months. He illustrates with arithmetic: a 10% weekly gain is $10 on a $100 account and $15,000 on a $150,000 account. That is arithmetic, not a result to expect, and the video supplies no evidence that 10% weekly gains are sustainable.
7. Size risk to a dollar loss you can absorb calmly. Rihari's stated pattern is in the table above: a smaller percentage as the balance grows.
8. Skip sessions when stressed or tired. Rihari says that on a bad day he does not trade.

Step 2 carries a conflict of interest worth naming. Rihari's business sells trading education, and the video promotes it while saying other sellers are out here scamming people. This article has not assessed either side. It repeats none of the video's pricing, platform, copy-trading or student-result claims because none is independently verified.

What do independent statistics say about retail trading and market size?

ASIC Report 828: Risky business records that 68% of Australian retail CFD investors lost money in the 2024 financial year. The Bank for International Settlements reported average daily OTC foreign-exchange turnover of US$9.6 trillion in April 2025. Neither figure verifies any individual trader's results.

ASIC. The figure from ASIC Report 828: Risky business covers Australian retail CFD investors in the 2024 financial year. It describes a population, not any one person. Rihari refers to living in New Zealand and says trading is leveraged, and the video does not say the speakers trade CFDs. The figure is context for leveraged retail trading, not a measure of Rihari's results or those of anyone he teaches.

What the video offers in contrast. Rihari says people he teaches became profitable within three to five months, and the video says a member made a 4% day, which he says critics on social media call unrealistic. The video supplies no dataset, so this article can neither confirm nor refute either statement. A single day says nothing about consistency, and ASIC's population-level finding and the video's individual reports measure different things.

BIS. The Bank for International Settlements reported average daily OTC foreign-exchange turnover of US$9.6 trillion in April 2025 in its BIS 2025 Triennial Survey. That measures how much currency changes hands in a day, not who profits. Rihari says he now hardly trades forex and mostly trades indices and gold, so the figure describes a different market from the one he says he works in. A large market does not verify any individual account.

| Source | Figure | Group or market covered | Verifies the video's claims? | |---|---|---|---| | ASIC Report 828: Risky business | 68% of Australian retail CFD investors lost money in the 2024 financial year | Australian retail CFD investors | No, it covers a population, not the speakers | | BIS 2025 Triennial Survey | US$9.6 trillion average daily OTC foreign-exchange turnover, April 2025 | The global foreign-exchange market | No, it measures turnover, not any trader's profit |

How should a reader use the $400 million story?

Treat the $400 million story as one person's illustration of mindset, not as evidence of what trading delivers. The video gives no name, statement or record for the account, so no reader can confirm it. This article makes no income or safety promise.

Four questions test any trading claim, including the ones in this video:

• Is the person named, and does a statement or record exist? For the $400 million account, no.
• Does the figure describe one person or a whole population? The $400 million story is one anecdote. The ASIC figure covers a population.
• Is the speaker selling something? The video promotes Rihari's education business and says other sellers are scamming people. Neither claim is assessed here.
• Does the story need a leap from one person did it to you can? The video's own arithmetic scales a percentage into a large dollar figure, but a percentage that has not been shown to be sustainable stays an assumption.

Some ideas in the video need no leap, because they are about process rather than outcome. Rihari says process matters more than the end result, that trading is not a get-rich-quick scheme, that risk should fall as dollar amounts grow, and that a trader should skip days when stressed. They are his views. This article is general information, not personal financial advice.