Active currency traders discuss with the talked-about person in this Trader’s interview｜Guest Subaru Hachiya Part 1 [Traders Securities Minna no FX Igua Shio]
Subaru Hachiya Profile
Simple yet practical chart analysis using only channel lines has gained rapid popularity. Sharing daily market views on Twitter, blogs, and YouTube has attracted the attention of many traders.
Blog:https://beestore.jp/
Twitter:https://twitter.com/m45fx
Kiyo Iguchi Profile
Iguchi, Yoshio. Trading Services Securities Market Department, Dealing Section. Certified Technical Analyst. Since 1998, he has worked for financial institutions, mainly engaged in covering and dealing in the commodities markets for precious metals and oil products. Since 2009, he has been with Minna no FX, conducting dealing work focusing on USD/JPY and major European currencies. He is proficient in forex analysis from a fundamental perspective and is also well-regarded for short-term predictions using technical methods. Recently, he has appeared in Minna no FX’s free online seminars, where his easy-to-understand lectures have been well received. On Twitter, professional dealers share real opinions about the market, so it’s a must-check.
Twitter:https://twitter.com/yoshi_igu
※This article is a reprint and revised edition of an article from FX攻略.com December 2019 issue. The market information written in the main text may differ from the current market, so please be aware.
Morning blog posts are the secret to explosive popularity
IguchiSubaru-san rose to fame in no time, but what activities were you involved in?
Subaru Hachiya (hereinafter Subaru) posts his market views every morning for 13 currency pairs since April 15, focusing on the blog as his main outlet. He targets being a full-time trader, concluding long-term chart analysis every morning, hoping that people can view it during commutes and other free moments.
IguchiThat’s amazing. The daily morning posts must have caused Twitter followers to surge dramatically.
SubaruPeople have told me that it’s reassuring to see updates at the same time every morning, and I recognize this as a strength for myself.
IguchiAt this pace, I feel you’ll become an incredible influencer in a few years.
SubaruI want many people to see my posts, so I’d be happy if that happens.
Entrants are based on daily charts and 4-hour charts
IguchiYour blog profile says you are ultra-reclusive; please tell us about your usual activities.
SubaruI check my charts four times a day for trading and don’t look at them more than that. I emphasize the timing when the 4-hour chart confirms, and observe the price movement of about five minutes before and after that. I enter by limit orders at those points. I look at the chart every four hours and imagine constantly rearranging my limit orders little by little every day.
IguchiYou almost always enter with limit orders, don’t you?
SubaruIn USD/JPY, even the entry points come only about once every two weeks, so when a chance arrives I have confidence and quickly enter with a limit order.
IguchiEnter with a limit order was unexpected. By the way, what advantages do you have that make you stick to the 4-hour chart?
SubaruBasically I confirm market trends on the daily chart and then map them onto the 4-hour chart. When drawing channel lines, I look for where market participants are focusing. The longer the chart interval, the more price action information is packed, increasing the entry edge, but weekly charts are too long and would result in entry points not occurring for years. So I mainly use daily and 4-hour charts. The reason I choose the 4-hour chart is that, in my experience, drawing a straight line when the 4-hour chart confirms tends to yield a more accurate line.
IguchiSo after testing timeframes, the 4-hour chart is best for channel lines. By the way, do you sometimes see good entry points on weekly or monthly charts, and do you watch them?
SubaruI ignore them.
IguchiSo you mainly use daily charts and enter on the 4-hour chart.
SubaruYes. I trade without indicators, using only channel lines. With channel-line-only trading, for example, lines drawn on the 1-hour chart break quickly, but with daily-level lines you can draw lines that you can use for months or years if you master the technique.
On the other hand, on timeframes below that, unless you combine horizontal lines or oscillator-type technical indicators, the edge diminishes or you end up chasing breakouts. I don’t want to look at charts too much. So I asked myself where I could draw effective lines without looking at the chart too much, and it led to daily and 4-hour charts.
