Active forex dealer talks at length with the talked-about person in Trader’s Interview | Guest YEN Zōu (YENぞう) Part 2 [Traders Securities Minna no FX Iguchi Yoshio]

YEN-kura-san Profile

For over 20 years, working as a foreign exchange dealer at US Citibank, UK Standard Chartered Bank, and other foreign banks. President of ADVANCE Co., Ltd., a company whose main business is distributing investment information. Has deep knowledge not only of major currencies like the dollar and euro but also of dealing in emerging market currencies.

Blog:http://blog.livedoor.jp/slalom2007/
Twitter:https://twitter.com/YENZOU
Newsletter:https://www.gogojungle.co.jp/finance/salons/10520/

Iguchi Yoshio Profile

Iguchi, Yoshio. Trader Securities Market Division, Dealing Section. Certified Technical Analyst. Been involved with financial institutions since 1998, primarily engaged in covering dealing in commodity markets such as precious metals and petroleum products. Since 2009, affiliated with Minna no FX, conducting dealing in USD/JPY and major European currencies as his main field. Well-versed in forex analysis from fundamental perspectives and also acclaimed for short-term predictions using technical analysis. Recently appeared in Minna no FX’s free online seminars, delivering easy-to-understand lectures. Furthermore, on Twitter, professional dealers publish real-time opinions on the market, so check it out.

Twitter:https://twitter.com/yoshi_igu

【The first part is here】
Trader’s Interview: Current Forex Dealers Talk with the Notable Person — Guest YEN-kura, Part 1 [Trader's Securities Minna no FX Iguchi Yoshio]

Open to Trading Beyond Cross-Yen Pairs

IguchiPlease share your trading approach as much as you can.

YEN-kuraRecently I’ve been using 4-hour moving averages and RSI.

IguchiDo you view the 4-hour chart with candlesticks?

YEN-kuraI view it with candlesticks, and when a trend forms on the 4-hour chart and moving averages align, I enter in that direction. I look for a 4-hour trend of about 100 pips and wait for an edge to be created by moving averages; that’s the favorable moment. Also, I use a short-period RSI (like 6 or 7) to spot divergences, and when the 4-hour chart moves above the moving average, I enter long.

IguchiSo you’re aiming to ride the trend. Do you engage in trendy scalping?

YEN-kuraI don’t do scalping.

IguchiAre there particular times or sessions that are easier to trade by market?

YEN-kuraI’m not glued to the charts all day; I go for trends when they appear, so no particular time. However, overseas markets tend to move more. Especially Oceania currencies move even during Tokyo hours, making them interesting. If you can find currency pairs with an established trend, that approach can be viable.

While many Japanese traders trade USD/JPY or cross-Yen pairs, I wonder why they don’t explore USD/JPY or cross-Yen pairs beyond those. Indeed, during risk-on/risk-off times cross-Yen is very profitable, but when that isn’t the case, it may be better to trade other currencies. Trader Securities could take the lead in encouraging “try cross trades beyond the Yen!”