Active foreign exchange traders can answer anything! Everyone's Q&A [Traders Securities Everyone's FX Iguchi Yoshio]

There is no one to ask questions to, and even after researching I can’t understand well... If you have such concerns, leave it to this project. Mr. Iguchi from Treiders Securities will solve your questions for you!

Iguchi Yoshio Profile

Iguchi, Yoshio. Treiders Securities Market Division, Dealing Section. Certified Technical Analyst. Since 1998 he has been engaged in financial institutions, mainly involved in covering dealing operations in the commodities markets for precious metals and oil products. From 2009 he has been with Minna no FX, conducting dealing operations focusing on USD/JPY and major European currencies. He is proficient in forex analysis from a fundamentals perspective, and is also well regarded for his short-term forecasts using technical methods. Recently he appeared in Minna no FX’s free online seminars, where his easy-to-understand lectures have been well received. Additionally, on Twitter, professional dealers share real-time opinions about the market, so it’s worth checking out.

Twitter：https://twitter.com/yoshi_igu

※This article is a reprint and editing of an article from FX攻略.com October 2018 issue. Please note that the market information written in the main text may differ from current market conditions.

Q23. I’m curious about what kind of day a professional dealer has. Do they have fixed times for information gathering, market analysis, and trading?

A. Introducing a professional dealer’s daily schedule, information gathering, and market analysis times

5:30 Wake up

People involved in the market start early, and in my case I wake up around 5:30. After waking, I instinctively open charts to check rates, and review last night’s NY market movements and positions (almost a professional habit). While having breakfast, I also watch programs like the Japan Nikkei Channel and Morning Satellite to verify last night’s price moves. On the commute, I try to gather as much information as possible on the train.

7:00 Arrive at the office

After arriving, I hold a strategy meeting to discuss how the Tokyo market will react, based on detailed reports from the night desk about the NY market. Here, every dealer aligns their directional views and information. The important aspect of this strategy meeting is to clash the dealers’ opinions. By absorbing diverse viewpoints, I try not to hold a biased market view. Finally, as a dealing team, we decide on the policy for trading.

By the way, for internal information gathering we look at Bloomberg and Reuters, but recently we also use social media like Twitter. There are also chat rooms among other firms’ dealers and market participants, where we actively exchange opinions.

9:00 Tokyo Market (Morning)

The Tokyo market is characterized by real demand trades. On days with a lot of corporate settlements (the 5th and 10th), the dollar buy demand tends to strengthen toward 9:55, when the mid-rate is determined, in order to secure dollars needed for the day. Also, in the China-related area, which has high attention due to the U.S.–China trade war, the yuan’s base rate is announced at 10:15, and the Shanghai Composite Index opens at 10:30, so in the morning there are many indicators to watch, making the morning quite busy.