"The Architect of Ultra-Long-Term Trading" Yuttari FX 13,000-character interview "What a Quit-Job Trader Defines as the Weak-Strong in the FX World"

Listener: Takeshi Kounai (Editorial staff)

Yuttari Currency Profile

Yuttari Kase. Individual investor. A “Relaxed Trade” follower with very few trading sessions. He studies every day aiming to achieve huge success in FX. He holds accounts with various FX companies and is familiar with a wide range of services in the industry.

Official blog:FX Relaxed Trade Follower
Official blog:FX Real Trade Dojo

In college I was hooked on stocks. But I have no memories of winning

Kounai: Please tell us again what you did before becoming a full-time trader and what inspired you to become a full-time trader. If I recall, you were a company employee, right?

Yuttari CurrencyNow I am not a full-time trader, but a trader and writer. That is because I earn rewards by writing, running websites, and giving interviews, so I am not full-time. By the way, for now, my income comes more from cryptocurrencies than from other sources.

Kounai: So you have income beyond trading as well.

Yuttari CurrencyThis may be a digression, but while FX has many institutional investors and super traders, at least up to 2017, cryptocurrencies were mostly amateurs, so it was easier to win.

Kounai: It feels lenient.

Yuttari CurrencyNot that lenient, but it’s easier to win.

Kounai: Cryptocurrency FX?

Yuttari CurrencyNo, I trade the physical (spot). This is because margin trading often results in frequent order rejections.

Kounai: Aren’t the spreads too wide?

Yuttari CurrencyBitcoin is reasonably easy to trade. Whether FX or cryptocurrency, I visit many companies to listen to them, but Coincheck did not answer almost any questions. I wondered why they wouldn’t answer, and then there was the recent incident, so I thought perhaps they were hiding something (laugh).

Kounai: When I attended another company’s briefing, Yuttari Currency was asking the company president sharp questions as well.

Yuttari CurrencyYes. I ask about things I’m curious about and what individual investors want to know.

Now, back to the topic. Before becoming a trader, I worked at an independent administrative institution. It had nothing to do with FX.

Kounai: What did you major in at university?

Yuttari CurrencyPolitics. But actually I liked economics more. So I started investing in stocks soon after entering university.

Kounai: What was your source of funds?

Yuttari CurrencyPart-time jobs. Back then, after the bubble burst and prices were high, it was hard to buy with part-time earnings. I don’t remember much, but I think I traded low-priced penny stocks. I recall trading a lot of Aichi Corporation, 6345.

Kounai: Were there many students trading stocks at that time?

Yuttari CurrencyIt wasn’t a boom. Money was tight. Now fees are cheap, but back then a 1% fee on the purchase price was standard. For 1 million yen of stock, 10,000 yen in fees. When internet trading emerged, even with discount offers, it was around 7,000–8,000 yen.

Kounai: You needed at least 1% return to avoid a loss.

Yuttari CurrencyNow it’s only a few hundred yen, so it has become incredibly cheaper.

Kounai: What was your purpose for stock trading as a student?

Yuttari CurrencyBecause I liked money! I also liked economics, so I even took the National Public Service Exam for Administrative Officer. But I didn’t do well in interviews. Then a national research agency picked me up.

Kounai: It’s fascinating how different traders in the FX industry have different paths. How did your college stock results go?

Yuttari CurrencyI don’t remember ever winning.

Kounai: Did you blow your funds?

Yuttari CurrencyThe amounts were small, so losses were minor in stocks. In terms of amount, FX losses were overwhelming.

Kounai: Did you invest in anything besides stocks and FX?

Yuttari CurrencyI did various things. To list a few: e-warrants, CFDs in general, government bond futures, mutual funds, foreign currency deposits, foreign bond spot. I never did real estate. I stopped when I paid a 300,000 yen deposit for a rental warehouse. It’s probably harder to find things I haven’t done.

Kounai: Among those, FX remained because you had a good affinity for it?

Yuttari CurrencyIf you don’t like something, you won’t continue. I happened to like FX. Of course I didn’t hate economics or politics either.

Kounai: Did you have the motivation to master FX, or more money-making greed, or the catharsis of money fluctuating?

Yuttari CurrencyI don’t like pachinko or horse racing. But I love mahjong. There were times I played almost every day.