From about 1500 to 1600, Japan has been in a continuous war, and various governors (called "Daming", which means feudal lords) have been conquering each other and vying for territory. This period of history is the so-called "Warring States Period". In the last 40 years of this period, through the efforts of three outstanding generals, Japan was finally unified at the beginning of the17th century. The three outstanding generals are Nobunaga, Toyotomi Hideyoshi and Tokugawa Ieyasu. Their brilliant exploits and great achievements are highly respected in Japanese history and folklore. There is an auspicious Japanese proverb: "If you work hard in Yoshida, Toyotomi Hideyoshi will be well-off, and Tokugawa Ieyasu will enjoy happiness." More clearly, although all three generals contributed to Japanese reunification, only the last of the three generals, Tokugawa Ieyasu, became the shogunate general. From 16 15 to 1867, Tokugawa Ieyasu and his family have been ruling the Japanese state. This historical period is called the Tokugawa shogunate period.
This century-old war swept the whole of Japan, so it can be seen everywhere in the technical terms of candle diagrams. On the other hand, if you think about it carefully, it is not difficult to find that you really need a lot of lessons in the process of participating in market transactions.
Skills and methods similar to military strategy. Among these skills, including strategy, psychology, confrontation, strategic retreat, and even luck (yes, there is a question of good or bad luck), so it is not surprising that in this book, you can encounter candle-drawing terms originally from battlefield jargon everywhere. Among these terms, there are so-called "dawn attack, night attack", so-called "three soldiers attack", so-called "counter-offensive line", "tombstone line" and so on.
Under the rule of feudal centralization of authority established by Tokugawa Ieyasu, Japan spent a relatively stable period of peace, so everything was prosperous and there were opportunities everywhere. Agricultural production is developing day by day, and more importantly, the domestic business environment is relaxed and more developed. By the end of17th century, Japan had formed a national market system, replacing the isolated local small market in the past. The birth of this unified and centralized big market indirectly gave birth to Japan's technical analysis theory.
Toyotomi Hideyoshi identified Osaka as the capital of Japan, and strongly supported its development, making it a commercial center. Osaka port has excellent conditions. Under the historical conditions at that time, land transportation was not only slow, but also unsafe and costly. In this way, Osaka has become a national material distribution center and gradually evolved into the largest commercial and financial center in Japan. Osaka, with its huge wealth and huge material warehouse, has truly become the so-called "big room in Japan". When there is an imbalance in the supply of materials in various places, Osaka can immediately adjust the surplus and shortage, thus making great contributions to stabilizing market prices. For the residents of the big version, life is immersed in the desire to chase profits. At the same time, other cities still hold a traditional contempt attitude towards commercial profit, which is in sharp contrast with Osaka. Japanese society at that time was composed of four classes. From top to bottom are soldiers, farmers, craftsmen and businessmen. It was not until the18th century that the merchant class finally broke all kinds of social barriers. Even today, in Osaka, the traditional greeting is "Mokarimakka", which means "Are you rich?"
Osaka Shopkeeper is the munitions agent of Toyotomi Hideyoshi (one of the three great militarists who unified Japan). Dianhe has an extraordinary talent in the transportation and distribution of rice and the formulation of rice prices. The front yard of Dianhe's house is so important that the first rice exchange in Japan sprouted from here. He himself has become extremely rich, but from the result, it is obvious that he is too rich. 1705, the shogunate (the warlord government led by General Zhang Yi) announced that the luxurious life he enjoyed was not commensurate with his humble social status, so he confiscated all his property. With the increase of wealth in the hands of businessmen, the influence of some of them is also expanding, and the shogunate is wary of this. As early as 1642, officials and businessmen colluded in an attempt to manipulate the rice market. They were severely punished by the authorities. The merchant's children were executed, the merchant himself was exiled and all his property was deprived.
/kloc-in the second half of the 0/7th century, the rice trading market, which originated in the front yard of Dianhe family, finally developed into a formal institution in Osaka-Tangdao Rice Exchange. In this exchange, the merchants set the standard of rice grade and determined the price of rice through bargaining. Until 17 10, the exchange has been trading rice in kind. 17 10 years later, the rice exchange began to accept and grant rice warehouse receipts (i.e. rice warehouse receipts). Rice warehouse receipt is called "rice warehouse receipt". These rice warehouse receipts are the earliest futures contracts in the world.
Rice brokers form the foundation of Osaka's prosperity. At that time, in Osaka, the total number of rice merchants was about 1300. At that time, because there was no reliable monetary standard (people tried to use coins as hard currency as pricing standard, but this attempt aborted with the deterioration of coins), rice became a de facto medium of exchange. If a big brand needs funds, then he will transport the extra rice to Osaka and store it in Osaka's warehouse with his own account. He will get the corresponding rice voucher as a receipt for this batch of rice. Then, he can decide when to sell these rice coupons at will. In fact, many famous brands are in financial difficulties, and often sell the next rice tax (donations and taxes collected by famous brands are paid in the form of rice-usually these rice accounts for 40%-60% of farmers' harvest) as rice coupons in advance. In some cases, they may even mortgage all the rice harvests in the next few years in this way.
Rice coupon trading is very active. This kind of rice ticket was sold in advance with the future rice harvest, so it became the earliest futures contract in the world. Tangdao Rice Company engaged in the trading of such rice coupons and became the first futures exchange in the world. Rice coupons are also called "empty rice" coupons "empty rice", which means whether it is specific physical rice. So, to what extent did rice futures trading prevail at that time? To help you form a clear impression, please look at the following set of figures; 1749, there were 1 10000 packages of empty rice coupons in Osaka (at that time, rice was measured by "package") circulating in the market. However, there were only 3,000 bags of physical rice in Japan.
It is in this context that our hero, the famous "God of the Market" Sakamoto appeared for a long time. Ben Zong was born in a wealthy family on 1724 (according to other data 1729). At that time, people thought that this family was incredibly rich, so a proverb spread: "I will definitely ascend to the throne of the country in my life, but don't imagine that this family is as rich as nine families." 1750, this family took over their business and started his rice trading career in the rice trading market in the hometown port city of Bantian. Sakata is a distribution center for rice. Because Zongjiu's career began in Sakata, the expression "Sakata tactics" is often heard in the language of Japanese candle drawing technology. This word refers to the time-honored transaction method of this house.
After Ben's long-lived father died, he began to manage all their property, even though he was only the youngest son in the family. In those days, it was usually the eldest son who succeeded his father in power. This may be because this room has extraordinary market knowledge for a long time. With this abundant fund, Zongjiu stepped into the gate of Osaka Tangdao Dog Rice Society, Japan's largest rice trading market, and devoted himself to rice futures trading.
Our family owns a big rice plantation. Because their family is strong in rice point, the information of rice market usually cannot escape his eyes and ears. However, Zong Jiu was not satisfied with this. He also records weather information year by year. In order to grasp the psychology of investors, Zong Jiu studied the historical record of rice price deeply, dating back to the time when the front yard exchange was still open. Zong Jiu also created his own communication system. From Osaka to Sakata. Zongjiu set up a transit station every once in a while, and arranged for people to climb the roof at the appointed time, waving small flags and passing messages with batons.
In this way, Zongjiu dominated the market in Osaka. Then he turned to the Edo (now Tokyo) local exchange for a new conquest. With his deep research on the rice market, he has accumulated great wealth. It is said that he once had an amazing record of continuous profit 100.
His popularity was so high that a folk song was sung in the streets of Edo: "Sakata (the hometown of Heji) is sunny, Tando (the Tando rice exchange in Osaka) is cloudy, and it rains before Edo decreases (the exchange before Edo decreases)." This ballad means that when the rice in Sakata catches up with the good years, the price of Tangdao Mihui will fall, while the price of rice in Edo will plummet. This ditty shows that this family has the ability to make a splash in the Japanese rice market for a long time.
In his later years, he served as a financial adviser to the shogunate authorities and was awarded the title of samurai as an honorary title. He died in 1803. His market research works (Sakata tactics and wind, forest, fire and mountains) are said to have been written in18th century. The trading strategy he adopted in the rice market gradually evolved into the candle chart method used by modern Japanese investors. (Translation Note: The words "wind, forest, fire and mountain" are coded as "military debate" in Sun Tzu's Art of War. The original text is "... its illness is like the wind, its Xu Rulin is like a fire, and it doesn't move like a mountain ..." It roughly means "acting quickly, like a disease of the wind, the ranks are purged, and its neatness is as slow as a forest; Attack is like fire, and punctuality is like a mountain. " )