# Who is the richest day trader? – Swing Trading Strategies For Beginners

The top day trader’s payout depends the day trading volume, and where he is trading at the time. Here’s an explanation of how the calculations work:

On July 1, 2013, John Pappas, a top day trader, and his employees sold an average of 6,723 stocks at \$9.40 a share, on average — or more than \$9 billion worth of stocks.

The day before the next peak on July 1, 2013, Pappas bought 4,847 stocks from another top day trader, with 3,000 of those stocks being sold to his employees for an average of \$7.30 each.

On July 3, Pappas sold his entire stake in the 4,800-stock portfolio, at an average price of about \$10.50 a share.

According to the website of the Bureau of Labor Statistics, Pappas’s pay is the 13th highest among the top five day traders. His average total income at the end of the week was \$4.68 million in 2013, as reported by the online newspaper Axios.

On the other hand, the top day trader’s payout for the seven days ending on July 5, 2013, was \$33.63 million, or \$11.17 billion more than Pappas’s average earnings.

Here’s an explanation of how this calculation is done:

Day trading is a volatile industry, with many high-frequency traders (i.e., trading bots) buying and selling the same stocks at the same time, without the human intervention of human workers

Some high speed trades could have the same result as, say, a stock flip on the floor with the highest frequency trader

Because of these high-frequency traders, there is no standard method of calculating the payouts; traders use a mix of formula, calculation and data to determine how much they should receive, since compensation varies widely from day to day

On July 3 — or July 4 for the day traders in Pappas’s case — a stock price of \$13.20 was at it’s peak; this price represented an 80% change over the previous 7 days and a 100-day move from the low of \$8.20.

On July 4, the top day trader sold 4,847 stocks at an average price of \$7.30, or about \$3.3 billion worth of stocks

Here’s a breakdown of the payouts:

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