My Bible [Water Travel]

Do you have a bible-like book for FX? By "bible," we mean a book that serves as a guiding read or a beloved favorite in a specific field. What kinds of books do professionals in the foreign exchange market treat as their bibles? Here, Noriyuki Mizukami, who has long worked as a dealer, shares his insights.

Profile of Noriyuki Mizukami

Mizukami Noriyuki. President of Banya Market Focus. After graduating from Sophia University with a degree in economics in 1978, he joined Sanwa Bank (now MUFG Bank). After five years in branch duties, he worked as a currency dealer in London, Tokyo, and New York, earning the name “Mizukami of Sanwa” in the Tokyo foreign exchange market. He served as Foreign Exchange Department Head at Dresdner Bank, and later at RBS Bank, as Head of Foreign Exchange and then Head of Foreign Exchange Sales. Since 2007, he has been the representative of Banya Market Focus. He is well-regarded for his precise market forecasts based on his extensive experience and knowledge.

Sakata Gohō That Remains Fresh Even After 250 Years

My Bible is ‘Sakata Gohō wa Furinkazan’ (Sakata Five Methods: Wind, Forest, Fire, Mountain) published by Nihon Securities Journal. Honestly, I have read very few market-related books, but I happened to come across this one during my time at a domestic bank, and I still reread it as something of a dictionary for reference.

In terms of universality, I believe there is nothing better than Sakata Gohō. The main reason I love Gohō is that it is simply elegant. It has been over 250 years since Honma Musō created Sakata Gohō, and yet it has not been swept away by the passage of time and remains fully applicable to today’s markets, which is astonishing.

Two hundred fifty years is a long span. A lot has happened in that time, yet it has not become obsolete and has remained universal, I think, because it continuously trims away excess and maintains a lean method of analysis. As a result, I believe Sakata Gohō remains authentic.

This book goes beyond merely explaining candlestick chart analysis and chart patterns; it also discusses the mindset needed in every situation, which is truly instructive to read. It is, in a sense, a trader’s mental anchor. Here are a few of its famous quotes and chart patterns.