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If you can't measure it, you probably can't manage it Things you measure tend to improve.

Ed Seykota

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Ed Seykota
Age: 78
Born: 1946
Born: August 7
Scientist
Trader
Edward Arthur Seykota
Probably
Things
Improve
Manage
Measure
Tend

More quotes by Ed Seykota

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The key to long-term survival and prosperity has a lot to do with the money management techniques incorporated into the technical system.
Ed Seykota
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To avoid whipsaw losses, stop trading.
Ed Seykota
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Luck plays an enormous role in trading success. Some people were lucky enough to be born smart, while others were even smarter and got born lucky.
Ed Seykota
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Win or lose, everybody gets what they want out of the market. Some people seem to like to lose, so they win by losing money.
Ed Seykota
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Trend following is an exercise in observing and responding to the ever-present moment of now
Ed Seykota
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I turn bullish at the instant my buy stop is hit, and stay bullish until my sell stop is hit.
Ed Seykota
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Trying to trade during a losing streak is emotionally devastating. Trying to play 'catch up' is lethal.
Ed Seykota
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Psychology motivates the quality of analysis and puts it to use. Psychology is the driver and analysis is the road map.
Ed Seykota
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Working to anticipate the future can be a distraction from the important task of dealing with the present.
Ed Seykota
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The elements of good trading are: 1, cutting losses. 2, cutting losses. And 3, cutting losses. If you can follow these three rules, you may have a chance.
Ed Seykota
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It is a happy circumstance that when nature gives us true burning desires, she also gives us the means to satisfy them. Those who want to win and lack skill can get someone with skill to help them.
Ed Seykota
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Good traders trade. Good letter writers write letters.
Ed Seykota
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Charting is a little like surfing. You dont have to know a lot about the physics of tides, resonance, and fluid dynamics in order to catch a good wave. You just have to be able to sense when its happening and then have the drive to act at the right time.
Ed Seykota
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Risk no more that you can afford to lose, and also risk enough so that a win is meaningful.
Ed Seykota
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Pyramiding instructions appear on dollar bills. Add smaller and smaller amounts on the way up. Keep your eye open at the top.
Ed Seykota
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The trend is your friend except at the end where it bends.
Ed Seykota
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If you can't take a small loss, sooner or later you will take the mother of all losses.
Ed Seykota
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The biggest secret about success is that there isn't any big secret about it, or if there is, then it's a secret from me, too. The idea of searching for some secret for trading success misses the point.
Ed Seykota
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Systems don't need to be changed. The trick is for a trader to develop a system with which he is compatible.
Ed Seykota
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Longevity is the key to success.
Ed Seykota