A Revelation for the Eyes? Understanding the Essence of FX's Appeal—the Importance of Narrowing Down Currencies and Timeframes ~ [Mr. Iidatchi]

Profile of Dr. Eidaッチ

Former instructor at a preparatory school. A professional FX trader who loves hot springs and holds a hot-spring sommelier qualification. Using the method called “Close Price Trading Method,” he has cultivated many outstanding traders, and his online study sessions attract participants from all over the country, from the elderly to the young. The chart analysis method that emphasizes the “close price” is popular among part-time traders as a trading approach that does not require concentrating on around-the-clock markets.

Blog：A Big Comeback from 100,000 Yen! FX Trader Eidaッチ BLOG

*This article is a reprint/edit of an article from FX攻略.com February 2020 issue. Please note that market information written in the main text may differ from current market conditions.

Focus on trading currencies and trade safely

Hello, this is Dr. Eidaッチ. Previously, I wrote about not touching minor currencies and narrowing your trading currencies. The forex market has a huge trading volume, so trades can be executed at almost any time, and many people don’t worry about it, but market accidents occur on a 5–10 year timescale. For both full-time traders and part-time traders who want to keep earning from trading, it is necessary to formulate a trading policy to avoid such situations.

To that end, I wrote about limiting trading to the major five currencies (the dollar, euro, yen, pound, and Australian dollar) to reduce the likelihood of accidents. As concrete advice, I recommend trading mainly with one main currency pair and one secondary currency pair. By the way, Dr. Eidaッチ’s main currency pair is the pound/yen, and the dollar/yen is the secondary currency pair.