Ed Seykota Quotes - Page 2

Fortune tellers live in the future. So do people who want to put things off. So do fundamentalists.

Be sensitive to subtle differences between 'intuition' and 'into wishing'.

I turn bullish at the instant my buy stop is hit, and stay bullish until my sell stop is hit.

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.

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

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.

To avoid whipsaw losses, stop trading.

There are old traders and there are bold traders, but there are very few old, bold traders.

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.

Everybody gets what they want out of the market.

Good traders trade. Good letter writers write letters.

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.

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.

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

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.

The idea of searching for some secret for trading success misses the point.

Psychology motivates the quality of analysis and puts it to use. Psychology is the driver and analysis is the road map.

I would add that I consider myself and how I do things as a kind of system which, by definition, I always follow.

Fundamentals that you read about are typically useless as the market has already discounted the price, and I call them “funny-mentals”. However, if you catch on early, before others believe, you might have valuable “surprise-a-mentals”.