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Good traders trade. Good letter writers write letters.

Ed Seykota

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Ed Seykota
Age: 78
Born: 1946
Born: August 7
Scientist
Trader
Edward Arthur Seykota
Write
Writing
Good
Traders
Letter
Letters
Writers
Trade

More quotes by Ed Seykota

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Dramatic and emotional trading experiences tend to be negative. Pride is a great banana peel, as are hope, fear, and greed. My biggest slip-ups occurred shortly after I got emotionally involved with positions.
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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If you can't measure it, you probably can't manage it Things you measure tend to improve.
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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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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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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Working to anticipate the future can be a distraction from the important task of dealing with the present.
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 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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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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Longevity is the key to success.
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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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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I would add that I consider myself and how I do things as a kind of system which, by definition, I always follow.
Ed Seykota
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The trend is your friend except at the end where it bends.
Ed Seykota
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To avoid whipsaw losses, stop trading.
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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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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Trying to trade during a losing streak is emotionally devastating. Trying to play 'catch up' is lethal.
Ed Seykota