FX and People｜Vol.7 Mochi-Poyo-san
While we tend to be captivated by various analyses such as fundamentals and technicals, automated trading, and system trading as methods of operation, the essence of FX lies in price movements born from human interactions. Analyses or methods of operation do not move the market. In any market, what moves it are countless people. In this project, we will thoroughly zoom in on the “people” in FX. The 7th guest is the gate trader Mochipoyo, who combines popularity and skill. He shared tips for success in FX, including the characteristics of people who win versus those who lose, effective study methods, the importance of verification, and the advantages and disadvantages of scalping.
Mochipoyo Profile
Short-term trader in his 9th year of FX experience. Widely popular for a clear method centered on scalping and day trading. Developer of GeyScaFX.
● Interviewer: Takeshi Kawanai (FX writer)
*This article is a reprint and revised edition of an article from FX攻略.com, March 2021. Please note that the market information described in the text may differ from current market conditions.
What you need for faster improvement is verification work
——First, please tell us what got you into FX in the first place.
I didn’t want to become a salaryman and was looking for various side jobs. I happened to watch a FX program on TV and thought, this could work. I was torn between FX and stocks, and since stocks looked more difficult, I decided to go with FX alone.
——Looking back at your beginner days, was there a big mistake you regret?
At first I deposited about 50,000 yen, but I blew it quickly, then deposited another several tens of thousands and blew that too… I repeated this pattern. I would sit glued to the smartphone charts all day and accumulate trades that made no sense, leading to big losses. These are typical beginner mistakes. At that time there were no solid methods established, and I traded on just a sense of “it’s rising soon” or “it will drop soon”—completely baseless trading, and I lost because of it.
——If there is a trigger that led you to your current style and method, please share.
Starting to work at a company that runs an investment school changed how I approached and thought about FX. Although that company has since left, I interacted with pro traders at that time and learned the importance of verification. From there I began to verify properly, gradually understood what helps me win, and arrived at my current style.
The pro traders would collect data on both their losses and wins, so I tried it too. As I collected data, I learned that “in certain situations it’s better not to trade because you’re likely to lose” and “in other situations it’s favorable to take a chance and win,” allowing me to discern when to push and when to pull back.
——Is there something you’re glad you studied?
