Ed Seykota Quotes and Sayings - Page 1

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“The trading rules I live by are: 1. Cut losses. 2. Ride winners. 3. Keep bets small. 4. Follow the rules without question. 5. Know when to break the rules.”
-- Ed Seykota

#Cutting #Loss #Winner
“My style is basically trend following, with some special pattern recognition and money management algorithms.”
-- Ed Seykota

#Style #Special #Algorithms
“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.”
-- Ed Seykota

#Missing #Feelings #Surfer
“The markets are the same now as they were five or ten years ago because they keep changing-just like they did then”
-- Ed Seykota

#Years
“If you can't take a small loss, sooner or later you will take the mother of all losses.”
-- Ed Seykota

#Mother #Loss #Sooner Or Later
“Pyramiding instructions appear on dollar bills. Add smaller and smaller amounts on the way up. Keep your eye open at the top.”
-- Ed Seykota

#Eye #Dollar Bills #Dollars
“If you can't measure it, you probably can't manage it Things you measure tend to improve.”
-- Ed Seykota

#Manage
“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

#Ideas #Missing #Secret
“Everybody gets what they want out of the market”
-- Ed Seykota

#Want
“I turn bullish at the instant my buy stop is hit, and stay bullish until my sell stop is hit.”
-- Ed Seykota

#Turns #Instant
“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.”
-- Ed Seykota

#Thinking #People #Goal
“It can be very expensive to try to convince the markets you are right”
-- Ed Seykota

#Trying #Convince
“Markets are fundamentally volatile. No way around it. Your problem is not in the math. There is no math to get you out of having to experience uncertainty.”
-- Ed Seykota

#Math #Way #Problem
“Itâ€™s all about sticking to your plan and experiencing feelings as they arise. If you are unwilling to feel your feelings, the temptation is to avoid them by jumping off your system”
-- Ed Seykota

#Jumping #Temptation #Feelings
“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

#Add #Definitions #Kind
“Psychology motivates the quality of analysis and puts it to use. Psychology is the driverÂ and analysis is the road map.”
-- Ed Seykota

#Psychology #Quality #Analysis
“Longevity is the key to success,”
-- Ed Seykota

#Keys #Key To Success #Longevity
“Trends become more apparent as you step further away from the chart.”
-- Ed Seykota

#Trends #Steps
“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

#Cutting #Loss #Three
“Losing a position is aggravating, whereas losing your nerve is devastating.”
-- Ed Seykota

#Nerves #Losing #Position
“Risk no more that you can afford to lose, and also risk enough so that a win is meaningful.”
-- Ed Seykota

#Meaningful #Winning #Risk
“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

#Keys #Long #Survival
“There are old traders and there are bold traders, but there are very few old, bold traders.”
-- Ed Seykota

#Traders
“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

#Pride #Emotional #Greed
“Be sensitive to subtle differences between 'intuition' and 'into wishing'.”
-- Ed Seykota

#Differences #Intuition #Wish
“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.”
-- Ed Seykota

#Winning #Want #Littles
“Trying to trade during a losing streak is emotionally devastating. Trying to play 'catch up' is lethal.”
-- Ed Seykota

#Play #Trying #Losing
“To avoid whipsaw losses, stop trading.”
-- Ed Seykota

#Loss #Trading
“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

#Smart #Play #People
“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

#Mean #Winning #Skills

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