November 15, 2017

Ed Seykota quotes collection

The elements of good trading are cutting losses, cutting losses, and cutting losses.

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.

I think that if people look deeply enough into their trading patterns, they find that, on balance, including all their goals, they are really getting what they want, even though they may not understand it or want to admit it.

Here’s the essence of risk management: Risk no more than you can afford to lose, and also risk enough so that a win is meaningful. If there is no such amount, don’t play.

Systems don’t need to be changed. The trick is for a trader to develop a system with which he is compatible.

Advanced technology for analyzing the markets is interesting, entertaining, distracting, and even counter-productive to coming to terms with emotional reactions to uncertainty and volatility.

Feelings naturally appear during trading. The feelings we don’t like seem to have roots deep in our unresolved issues. Somehow they get stuck and do not finish passing through, and can cloud the judgment and interfere with trading. The feelings we do like seem to pass through quickly without much trace.

The feeling of everyone telling you that you are right, might actually be the scary one.

Traders and Surfers both have to deal with feelings of missing out on the small ones, until the big one comes along. They also have to deal with feelings of staying with the big one.

Hard Work does not Guarantee Profit and one man’s hard work might be another man’s recreation

Becoming a better trader and becoming a better person seem to go together.

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