FX Fighter Kurumi-chan Episode 4 Recap & Characters (Spoiler-Free)

Episode Summary

Having No Unrealized Losses Is the Best

Kurumi's father discovers the household money was stolen, and she confesses that she took it to win back her mother's losses through foreign-exchange trading. Her father pleads with her to stop, and she resolves to quit. Mochiko argues she has the talent to become a billionaire and asks Kurumi to teach Mebuki, who opened an overseas account with up to 500x leverage with Mochiko's help; hearing that Mebuki's 200,000 yen of capital is scholarship money, Kurumi doubts Mochiko's intentions. Kurumi reluctantly agrees and warns Mebuki of the risks, but when she shares her first impression that pound-yen will fall, Mebuki sells before Kurumi can stop her. As the price drops and Mebuki's profit grows, Kurumi is tempted by the thought that she would have earned too.

• Stolen money discovered by father

  Kurumi's father announces that the household money was stolen and that he will contact the police, then identifies her as responsible and assures her he will always be on her side.

• Confession and father's plea

  Kurumi admits she took the money to win at foreign-exchange trading and recover her mother's losses, reports 1.8 million yen in total profit, and her father rejects that reasoning and pleads with her to stop trading.

• Retirement announced to Mochiko

  Kurumi tells Mochiko she is quitting for lack of talent, but Mochiko argues she could become a billionaire and asks her to teach Mebuki.

• Teaching Mebuki and the first short trade

  Kurumi reluctantly agrees to teach Mebuki and warns that Mebuki bears responsibility for any losses. When Kurumi says her first impression is that pound-yen will fall, Mebuki sells before she can be stopped; as the price drops and the profit grows, Kurumi is shaken by an inner voice saying she would have earned too and asking whether she really means to quit.

Recent Timeline

• Mother's death after FX loss (Episode 1)

  Kurumi's mother lost 20 million yen trading foreign exchange and hid it from her husband. After failing to return home, she died by jumping, and Kurumi was left blaming herself. Kurumi's first trade briefly earned 24,000 yen, but a sudden market shift began eating her savings and left her panicking.

• Leveraged 50-lot position reversal (Episode 2)

  Kurumi bought 50 lots at about 59 times her available funds. A decline erased her gains and pushed the rate toward the forced-liquidation threshold of 94 yen. Instead of cutting the loss, she resolved to inject her father's saved cash to lower the threshold.

• Position recovery and profitable close (Episode 3)

  Kurumi added 250 lots to her long position to recover unrealized losses and survived a new low near forced liquidation. She closed the position with a realized profit of 1.3 million yen. In a flashback, another investor who had bought Australian dollars at a high and kept putting off closing her losing position bet everything on a short expecting a steep collapse, but the market reversed upward against her.

• Confession of the stolen household money (Episode 4)

  Kurumi's father discovered the missing household money and threatened to call the police. Kurumi admitted she had taken it to win back her mother's lost 20 million yen through foreign-exchange trading. Her father begged her to stop, and she resolved to quit and earn money through ordinary work.

• Introduction of Mebuki and agreement to teach (Episode 4)

  Mochiko accepted Kurumi's retirement but asked her to teach Mebuki, a beginner who had heard Kurumi turned 300,000 yen into 2.1 million yen in three months. Kurumi reluctantly agreed, setting up her first foreign-exchange lesson for Mebuki.

Character Graph

Kurumi's father

Kurumi's father, who arranged to commute from home after his wife's death and has set aside cash at home every month since. When he found that money gone, he identified Kurumi as the one who took it and, while promising to stay on her side, begged her to quit trading, asking why she should have to make up for her mother's failure.

• Commute change

  After Kurumi's mother's death, he arranged a change in his work assignment so he could commute from home.

• Missing household money

  Noticed that the money he had been saving at home was gone and said he would call the police, then pointed to Kurumi as the one who took it; he promised to stay on her side but begged her to quit trading.

• Kurumi (Family, Affinity)

  His daughter, whom he warned after her mother's death that she could live happily without foreign-exchange trading.

  When he learns she took the household money to win back her mother's losses, he tells her he will always be on her side, asks why she should have to make up for her mother's failure, and begs her to stop trading.

• Kurumi's mother (Family, Neutral)

  His wife, who hid her FX loss from him while he was working away from home, and died. Since her death he has set aside cash at home at the end of every month.

Kurumi

A university student who took up FX to win back the 20 million yen her late mother lost in it. When her father found the household money missing, she confessed and, at his plea, resolved to quit; yet at Mochiko's request she reluctantly began teaching the beginner Mebuki. When Mebuki sold pound–yen on Kurumi's first impression and the profit kept growing, Kurumi found herself tempted to trade again.

• Resolve to recover the loss

  After her mother's death by apparent suicide, she vows to prove her own efforts could have made it unnecessary, and later begins trading with 300,000 yen of savings.

• Closed with profit

  Closed the position with a realized profit of 1.3 million yen after the market rebounded

• Confession to father

  Admitted taking the household money to win back the twenty million yen her mother lost, and reported total profits of 1.8 million yen.

• Resolve to quit

  Told herself repeatedly that she must quit, and later struggled again with temptation after watching a successful trade.

• Kurumi's father (Family, Affinity)

  Her father, who arranged to commute home after her mother's death and warned her she could live happily without trading.

  When he discovers she took the household money, she confesses why and, at his plea, resolves to quit trading.

• Mochiko (Friend, Mixed)

  Friend who calls to check on her position and urges her to check the outcome

• Mebuki (Mentor, Neutral)

  Reluctantly agreed to teach her trading; warned that Mebuki bears full responsibility for her decisions and losses.

• Kurumi's mother (Family, Mixed)

  Her mother, who lost 20 million yen in FX and died. Though Kurumi blamed her for the loss, she takes up FX to prove that her own efforts could have kept her mother alive. When her Australian dollar–yen position, in her mother's main currency, is cornered, she holds on, refusing to let mother and daughter both lose. On the night she believes she has been liquidated, she breaks down, thinking she is just like her mother.

  She confesses to her father that she has been trading to win back the 20 million yen her mother lost, but he asks why she should be the one to make up for her mother's failure.

Kurumi's mother

Kurumi's mother, who lost 20 million yen trading FX when Kurumi was in middle school. She hid the loss from her husband and took on work to make it up, but died in an apparent suicide by jumping on the day he came home.

• 20 million yen lost to FX

  Lost 20 million yen trading FX at home, insisting it was not her fault because she had been told the price would definitely rise.

• Hiding the loss from her husband

  Asked Kurumi to keep it a secret from her father, said it was her own responsibility, and started working, coming home later and later.

• The day her husband came home

  Told Kurumi it was impossible when Kurumi promised to win the money back, then apologized when Kurumi asked whose fault all this was. She left home while Kurumi was out shopping and died that day in an apparent suicide by jumping.

• Main currency

  Her main trading currency was the Australian dollar; according to Kurumi, Australian dollar–yen fell from the 90-yen range to the 50-yen range in her time.

• Kurumi (Family, Affinity)

  Her daughter, whom she asked to keep the FX loss a secret from her father; she told Kurumi to focus on her studies instead of working, and used to ask her for help with arithmetic.

• Kurumi's father (Family, Neutral)

  Her husband, working away from home, from whom she hid her FX loss.

Mebuki

A beginner who wants to get rich without working; with Mochiko's help she opened an overseas FX account with up to 500x leverage, staking 200,000 yen of scholarship money. Mochiko asked Kurumi to teach her, and when Kurumi said pound–yen looked likely to fall, Mebuki sold before she could be stopped and is watching her profit grow.

• Kurumi (Mentor, Neutral)

  Learns trading from Kurumi after Mochiko asks Kurumi to teach her; Kurumi warned that trading is at Mebuki's own risk and that she cannot blame Kurumi for any losses, and Mebuki accepted this.

• Mochiko (Other, Neutral)

  School acquaintance who introduced Mebuki to foreign-exchange trading as a shortcut to passive income.

Mochiko

An investment friend Kurumi met in her first year of university, with more investing experience than Kurumi. When Kurumi announced she was quitting, Mochiko talked her up as someone who could become a billionaire and asked her to teach Mebuki, a beginner who opened an overseas FX account with Mochiko's help. Hearing that Mebuki's stake is scholarship money, Kurumi has begun to doubt what Mochiko is after.

• Hoped for volatility

  Hoped the price would break below 94 yen because she wanted a more volatile market

• Private resentment

  Suspected Kurumi had obtained extra funds and resented her profit while congratulating her outwardly

• Stance on retirement

  Argued that Kurumi could become a billionaire and dismissed trading as a battlefield where only money is at risk.

• Kurumi (Friend, Colleague, Mixed)

  Friend whom Mochiko calls to check on and privately judges for greed, while privately resenting Kurumi's success

  Praised Kurumi's willingness to attack opportunities and asked her to teach Mebuki; accepted her retirement only outwardly.

World Memo

• Extreme leverage at overseas brokers

  An overseas broker permits exceptionally high leverage on trades, which is characterized as essentially gambling.

• Automatic forced-liquidation rule

  A broker automatically closes a trader's position once the price reaches a broker-prescribed threshold, intended to protect investors from excessive losses.

Battle Record

Mebuki, on her first trade, sold pound-yen as soon as Kurumi mentioned her first impression that it would fall, and her profit kept growing as the price dropped.

First dollar-yen trade

Thirty-lot position in a short-term campaign · Episodes 1–2

Location: Overseas broker trading platform

Trigger: Kurumi aims to recover the 20 million yen her mother lost in foreign-exchange trading

Sides

• Kurumi — Trader: Kurumi
• Market movement — Price movement: dollar-yen price

Outcome: The price turned sharply against Kurumi, but she held the position until it rose again and she got through the crisis.

Aftermath

• After getting through it, Kurumi thought of her mother and vowed to win back the 20 million yen herself.

Leveraged Australian dollar–yen position closed

Margin squeeze on the Australian dollar · Episodes 2–3

Location: Foreign-exchange market (AUD/JPY)

Trigger: Kurumi used family money to keep her Australian dollar–yen long position alive and needed to recover unrealized losses before month-end

Kurumi vs. the AUD/JPY market

• Kurumi — leveraged trader: Kurumi
• Market — counterparty: AUD/JPY market

Outcome: Kurumi closed the 300-lot Australian dollar–yen position with a realized profit of 1.3 million yen; the narration describes this as good luck that was, viewed another way, bad luck for her

Aftermath

• Believing she had been liquidated that night, Kurumi concluded her earlier wins had been luck and doubted her trading ability
• Mochiko privately suspected Kurumi had obtained extra funds and resented her success

Mebuki's pound-yen debut

Short sold on Kurumi's first impression · Episode 4– (Ongoing)

Location: Foreign-exchange market (pound-yen)

Trigger: While teaching Mebuki, Kurumi said her first impression was that pound-yen would fall but wanted to watch longer; Mebuki sold before Kurumi could stop her.

Mebuki vs. the pound-yen market

• Mebuki — novice trader: Mebuki
• Market — counterparty: pound-yen market

Outcome: Ongoing; the price fell and Mebuki's profit kept growing.

Aftermath

• Watching Mebuki profit, Kurumi was shaken by an inner voice saying she would have earned too if she had sold, and asking whether she really meant to quit.

Music Releases

• FX Senshi Kurumi-chan (OP)
• $・¥・€ (ED)