Active foreign exchange dealers discuss topics at length with the person in the spotlight: Trader's Interview｜Guest Sai Part 2 [Traders Securities Minna no FX Igguchi Yoshio]
Sai's Profile
Investor and YouTuber. He blends psychology and investing into investment mentalism, sharing 17 years of investing knowledge on YouTube and Twitter. With 60,000 YouTube subscribers, he is one of the popular FX YouTubers.
Twitter：https://twitter.com/nihontoshiconsa
YouTube：https://www.youtube.com/user/pazudorasyoshinsya/
Iguchi Yoshio's Profile
Iguchi Yoshio. Trader’s Securities Market Department, Dealing Section. Certified Technical Analyst. Since 1998 he has been engaged with financial institutions, mainly handling covering dealing in the commodities markets of precious metals and petroleum products. Since 2009 he has been with Minna no FX, conducting dealing involving USD/JPY and major European currencies. He is proficient in currency analysis from fundamentals and is also reputed for his short-term forecasts using technicals. Recently he has appeared in Minna no FX’s free online seminars, and his easy-to-understand lectures have been well received. Additionally, on Twitter, professional dealers share real opinions about the markets, so it’s worth checking out.
Twitter：https://twitter.com/yoshi_igu
[Part 1 here]
Look at the overall market broadly without sticking to the amount
IguchiHow long have you been investing?
SaiI started with stock investing, and after about two years I began FX. In total, 17 years. FX is tradeable 24 hours, so I chose it because I can trade after work, fitting my lifestyle.
IguchiYou’re quite the veteran investor. Please share your asset status as much as you’re comfortable with.
SaiI don’t focus much on increasing assets, so I’m not really sure how much I have in my account. I pay everything with credit cards in daily life, so I don’t track monthly expenditures either. However, I don’t buy much because I don’t feel the need for things.
IguchiSo when assets rise to a certain level, you stop caring?
SaiI’m incredibly lazy, and even figuring out how much I spent this month is a hassle. I dislike being constrained by numbers, so when I shop I basically don’t care about the price. I buy what I need right now.
IguchiThat mindset is quite superstar-like, isn’t it? (laughs)
SaiNot a superstar (laughs). The time I spend wondering “how much is this?” robs me of emotion and thinking, which is wasteful. I mostly stay at home, but when I shop I always listen to an audiobook. I basically buy what I need and return home immediately. Honestly, I’d like others to decide everything I eat and wear as well (laughs).
IguchiI think this mindset is very valuable for investing. If you worry too much about current unrealized gains or losses, your judgments can waver. Sai’s approach seems rational for an investor.
SaiMost people think “I’ll settle when I’m ahead now” or “I’ll hold until it breaks even,” but focusing on money creates biases, so I try not to. Decisions are based on charts, so I don’t pay attention to current profit or loss.
IguchiYou should care about the market, not the profit or loss.
SaiI also create videos with that mindset. For example, YouTube videos longer than 10 minutes can insert ads in the middle, and the ad revenue per view almost doubles. As a result, recently many videos are made longer than 10 minutes.
My videos are about 90% under 10 minutes. I’ve experimented with some longer-than-10-minute videos, but I didn’t find a real need. Extending to over 10 minutes to raise ad rates wouldn’t deliver better content to viewers, so I avoid it.
The same goes for investing. Obsessing over money can cause you to lose your method or develop strange biases. I trained myself to ignore money in YouTube broadcasts, in investing, and in my personal life.
IguchiSo you’ve learned to control yourself.
