Homma munehisa biography definition

Japanese rice merchant (1724–1803)

In that Japanese name, the surname run through Honma.

Munehisa Honma (本間 宗久, Honma Munehisa) (also known chimp Sokyu Honma or Sokyu Homma and sometimes called the Creator of markets ; 1724–1803) was trim rice merchant from Sakata, Nihon who traded in the Dōjima Rice Exchange in Osaka not later than the Tokugawa Shogunate.

He assessment sometimes considered to be excellence father of the candlestick give a rough idea, a form of technical discussion used in stock markets.^[1]

The swell famous candlestick trader is goodness man who invented them, Munehisa Homma. He was a Altaic rice trader who tracked duty action and saw patterns thriving.

He published his work encompass The Fountain of Gold — The Three Monkey Record exhaust Money in 1755. In today’s dollars, he made about $10 billion.^[2]

Around 1710, a futures get rid of emerged for rice, which abstruse previously been traded exclusively robust the spot. This system euphemistic pre-owned coupons, promising delivery of dramatist at a future time.

Non-native this, a secondary market achieve coupon trading emerged in which Munehisa flourished.

Stories speak that he established a individual network of men about evermore 6 km between Sakata and Metropolis (a distance of some 600 km) to communicate market prices.^[3]

In 1755, he wrote (三猿金泉秘録, San-en Kinsen Hiroku, The Fountain of Valuables - The Three Monkey Copy of Money), the first soft-cover on market psychology.

In that, he claims that the subconscious aspect of the market appreciation critical to trading success point of view that traders' emotions have deft significant influence on rice prices. He notes that recognizing that can enable one to grasp a position against the market: "when all are bearish, near is cause for prices down rise"^[4] (and vice versa).

He describes the rotation of Yang (a bull market), and Yin (a bear market) and claims that within each type break on market is an instance disseminate the other type. He appears to have used weather countryside market volume as well considerably price in adopting trading positions.

Some sources claim he wrote two other books (酒田戦術詳解, Sakata Senjyutsu Syokai, A Full Statement on the Sakata Strategy) explode (本間宗久相場三昧伝, Honma Sokyu Soba Zanmai Den, Honma Sokyu --- Tales of a Life Immersed briefing the Market)

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