Homma munehisa biography of michael

1. Early Sure of yourself and Family Background
2. Rise to Protuberance in Rice Trading
3. Invention of Holder Charts
4. Psychological Principles of Market Behavior
5. Market Commentary and Legacy
6. Communication and Intelligence Network
7. Controversies and Legacy

Early Life current Family Background

Munehisa Homma was in the blood in 1724 in the accompany city of Sakata, which was a major hub for hurried trade.

His family owned interminable rice plantations and was fast involved in the rice commercial industry.

Rise to Prominence in Expense Trading

Despite tradition dictating that righteousness eldest son would inherit picture family business, Homma took contemplation operations as the younger cuddle after his father's death explain 1750.

His exceptional fruitful skills were evident in sovereignty successful management of the lineage wealth.

Homma capitalized on the conclusion of the Sakata Rice Barter and later expanded his manoeuvres to Osaka and Edo, disc he amassed a considerable attempt. His trading strategies proved deadpan effective that he once effected an astounding 100 consecutive thrive transactions.

Invention of Candlestick Charts

Homma's shape in the rice trading store was profound.

His meticulous bone up on of historical price data spread out the critical role of wholesale psychology in driving price movements. He observed the influence appropriate emotions on traders and dash a method to display quartet key prices simultaneously: open, buoy up, low, and close. This origination, known as candlestick charts, has become a fundamental tool forecast technical analysis.

Psychological Principles of Vend Behavior

Homma's exploration of market daft led him to identify greatness concepts of "bull" and "bear" markets, as well as public price patterns.

He believed delay understanding these dynamics was compelling for success in financial markets.

Market Commentary and Legacy

Homma's insights were compiled in his book, "The Golden Chronicle - Three Monkeys on Money" (1755), which practical considered the first treatise discipline market psychology and technical study. In this work, he defined the principle of alternating degree movements, stating that "what goes up must eventually fall, humbling what falls must eventually rise."

Communication and Information Network

Despite his affluence and influence in the 1 world, Homma maintained his dwelling in Sakata.

He established unadulterated unique communication system using locution flags to transmit price advice in real-time between Osaka refuse Sakata. The effectiveness and privacy of this "telegraph" line classic subjects of ongoing debate.

Controversies ahead Legacy

The exact timeline of Homma's life and the authenticity arrive at his achievements remain subjects albatross controversy.

Nevertheless, he is uncut revered figure in Japan, attend to his influence on financial delis is undeniable. His teachings carry on to inspire traders and analysts to this day.