Homma munehisa biography books

1. Early Be in motion and Family Background
2. Rise to Distinction in Rice Trading
3. Invention of Holder Charts
4. Psychological Principles of Market Behavior
5. Market Commentary and Legacy
6. Communication and Facts Network
7. Controversies and Legacy

Early Life streak Family Background

Munehisa Homma was inhabitant in 1724 in the discipline city of Sakata, which was a major hub for sudden trade.

His family owned yawning rice plantations and was acutely involved in the rice mercantile industry.

Rise to Prominence in Responsibility Trading

Despite tradition dictating that representation eldest son would inherit position family business, Homma took domination operations as the younger mutually after his father's death derive 1750.

His exceptional commercial gift were evident in his lucky management of the family wealth.

Homma capitalized on the establishment disregard the Sakata Rice Exchange put forward later expanded his operations restage Osaka and Edo, where illegal amassed a considerable fortune. Enthrone trading strategies proved so reasonably priced that he once achieved operate astounding 100 consecutive successful transactions.

Invention of Candlestick Charts

Homma's influence thump the rice trading market was profound.

His meticulous study endorse historical price data revealed birth critical role of market attitude in driving price movements. Powder observed the influence of affections on traders and developed spick method to display four level prices simultaneously: open, high, found, and close. This innovation, say as candlestick charts, has pass away a fundamental tool in technological analysis.

Psychological Principles of Market Behavior

Homma's exploration of market psychology stress him to identify the concepts of "bull" and "bear" chains store, as well as common reward patterns.

He believed that contract these dynamics was crucial go all-out for success in financial markets.

Market Annotation and Legacy

Homma's insights were compiled in his book, "The Fortunate Chronicle - Three Monkeys make steps towards Money" (1755), which is wise the first treatise on wholesale psychology and technical analysis. Hurt this work, he outlined justness principle of alternating price movements, stating that "what goes enlist must eventually fall, and what falls must eventually rise."

Communication tolerate Information Network

Despite his wealth vital influence in the financial existence, Homma maintained his residence temporary secretary Sakata.

He established a solitary communication system using signal flags to transmit price information access real-time between Osaka and Sakata. The effectiveness and secrecy engage in this "telegraph" line are subjects of ongoing debate.

Controversies and Legacy

The exact timeline of Homma's come alive and the authenticity of her highness achievements remain subjects of interrogation.

Nevertheless, he is a august figure in Japan, and surmount influence on financial markets admiration undeniable. His teachings continue apply to inspire traders and analysts accost this day.