Home / Quotes / Quote by Ed Seykota

Quote by Ed Seykota

“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.”

Quote by Ed Seykota

Author

Ed Seykota, born on August 7, 1946, is a renowned trader with extensive experience in the futures trading field. He is one of the pioneers of trend-following trading strategies. more

You May Also Like

“In order of importance to me are: 1) the long term trend, 2) the current chart pattern, and 3)picking a good spot to buy or sell.”

Long Order Term Importance Sells Patterns Currents Spots Long Term Trends

Author:Ed Seykota

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

Years Five Ten Years Ago

Author:Ed Seykota

“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.”

Knows Inspirational Loss Break Cutting Life Philosophy Trade Winner Live By Trading Betting Breaking Rules

Author:Ed Seykota

“The trend is your friend except at the end where it bends.”

Author:Ed Seykota

“If you want to know everything about the market, go to the beach. Push and pull your hands with the waves. Some are bigger waves, some are smaller. But if you try to push the wave out when it's coming in, it'll never happen. The market is always right.”

Ifs Knows Want Trying Hands Happens Bigger Wave Beach

Author:Ed Seykota

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

Needs Changed Tricks Compatible Traders

Author:Ed Seykota

“To avoid whipsaw losses, stop trading.”

Author:Ed Seykota

“Pyramiding instructions appear on dollar bills. Add smaller and smaller amounts on the way up. Keep your eye open at the top.”

Way Eye Amount Bills Dollars Add Instruction Dollar Bills

Author:Ed Seykota

“It can be very expensive to try to convince the markets you are right.”

Trying Expensive Convince

Author:Ed Seykota

“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.”

People Ifs Thinking Want Looks May Enough Goal Balance Including Patterns Trading

Author:Ed Seykota