If I were to become a master, [Water Voyage]

In FX there are people who win and people who lose. Since we all invest the same, everyone wants to be on the winning side. What mindset do the winners trade with, and what improvements do the losers need? This time, returning to basics, Noriyuki Mizukami shares key points to bring you closer to the winning side.

*This article is a reprint and revision of an article from FX Strategy.com March 2019 issue. Please note that the market information written in the main text differs from the current market conditions.

Noriyuki Mizukami Profile

Mizukami Noriyuki. Representative of Banyā Market Focused. After graduating from the Faculty of Economics at Sophia University in 1978, he joined Sanwa Bank (now Mitsubishi UFJ Bank). After five years in branch operations, he worked as a currency dealer in London, Tokyo, and New York. In the Tokyo Foreign Exchange Market, he is known as “Mizukami of Sanwa.” He served as Foreign Exchange Manager at Dresdner Bank, and later as Head of Foreign Exchange at RBS Bank, and then Head of FX Sales. Since 2007, he has been the representative of Banyā Market Focused. He is well known for his highly accurate market forecasts based on long years of experience and knowledge.

Looking at long-term charts to expand your horizons

I’ve been in this world for 35 years, and I’m not sure how many positions I’ve taken. There are happy memories, but more than that, there are many painful ones. Yet I think that pain became my springboard. I was beaten badly, and at the dealing desk I bragged, “I’ll never forget this loss.”

First, I want to teach you to develop the habit of looking at charts with a long-term perspective. For example, if you only look at something too closely when skiing, you’ll be knocked off by even a small bump. To avoid that, it’s important to have a broad view. When you widen your perspective and can see far ahead, you’ll know where things are. And curiously, you’ll start not to worry about small bumps at your feet.

Translated into charts, rather than only looking at short-term charts such as 1-minute, 5-minute, 10-minute, 30-minute, and 1-hour charts, you should also look at long-term charts like 4-hour, daily, weekly, and monthly charts to grasp the market direction, and you won’t be tossed about by short-term movements.

Also, there are times when you get a feeling about how the market will move next, and this is very important. This feeling is fairly accurate, so you can have confidence in it.