February 11, 2018

Ed Seykota: Everyone gets what they want from the market

Some people win by losing.

Some people win by winning.

Win or lose, everybody gets what they want from the market.

Put in different words... A losing trader can do little to transform himself into a winning trader. A losing trader is not going to want to transform himself. That’s the kind of thing winning traders do.

Transforming yourself calls for a huge effort... why do this effort when you can easily blame your problems on someone else?

Show me one losing trader who has been able to transform himself... I know less than 1% who have been able to do so.

The losers are committing the same mistakes they did years ago...no strategy, no risk management, maintaining no trading journals, watching TV, following social media  etc

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