My Mental Management Techniques [Noriyuki Minakami]

To continuously win in FX, mental control is indispensable, and it is not an exaggeration to say that the strength of one’s mindset ultimately determines the success or failure of trading. Here, we will have the seasoned veteran with over 30 years in investing, Noriyuki Mizukami, share his秘訣 for mental management.

*This article is a reprint and revised edition of an article from FX Strategy.com October 2018 issue. Please note that the market information written in the body may differ from the current market.

Noriyuki Mizukami Profile

Mizukami Noriyuki. President of Barnya Market Focus. In 1978, after graduating from Sophia University with a degree in Economics, he joined Sanwa Bank (now MUFG Bank). After five years of branch operations, he worked as a foreign exchange dealer in London, Tokyo, and New York. In the Tokyo Foreign Exchange Market, he is known as “Mizukami of Sanwa.” He later served as Foreign Exchange Department Head at Dresdner Bank. In 1996, at RBS Bank, he held positions including Head of Foreign Exchange Department and Director of Overseas Sales. Since 2007, he has been President of Barnya Market Focus. He is highly regarded for his precise market forecasts based on long years of experience and knowledge.

Being Stoic in Trading Is Important

Stoicism refers to self-control, and I believe that stoicism is necessary in trading. In the beginner stage of trading, one is quite cautious. However, as you get somewhat accustomed, if you make money you become elated and arrogant, and if you incur losses you become depressed—this is the so-called ups and downs state.

Having confidence in yourself that you can profit is certainly important. I also understand the feeling of frustration when you lose. However, I think it is never good for a trader to become emotionally swayed by winning or losing as they grow.

A saying I like is, “Those who speculate should shun pleasure and sorrow.” This means that in trading, you need stoicism that does not let emotions run wild. Even when you profit, you must not become overconfident, and even when you lose, you must not fall into extreme despair. It is essential to be able to continue trading calmly, which I believe is necessary for a trader’s growth. It is easier said than done, but consciously controlling your mindset ultimately benefits yourself.