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Trade Like a Legend: 50 Inspiring Quotes from Ed Seykota for Market Mastery

“ Fundamentalists figure things out and anticipate change. Trend followers join the trend of the moment ” 

– Ed Seykota

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

– Ed Seykota

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

– Ed Seykota

“ There are old traders and there are bold traders, but there are very few old, bold traders ”

– Ed Seykota

“ Trying to trade during a losing streak is emotionally devastating. Trying to play “catch up” is lethal ”

– Ed Seykota

“ Losing a position is aggravating, whereas losing your nerve is devastating ”

– Ed Seykota

“ 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

“ A losing trader is not going to want to transform himself. That’s the kind of thing winning traders do ”

– Ed Seykota

“ If you can’t take a small loss, sooner or later you will take the mother of all losses ”

– Ed Seykota

“ Risk no more that you can afford to lose, and also risk enough so that a win is meaningful ”

– Ed Seykota

“ Be sensitive to subtle differences between ‘intuition’ and ‘into wishing’ ”

– 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 ”

– Ed Seykota

“ I don’t judge success, I celebrate it. I think success has to do with finding and following one’s calling regardless of financial gain ” 

– Ed Seykota

“ 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 ”

– Ed Seykota

“ Trading requires skill at reading the markets and at managing your own anxieties ”

– Ed Seykota

“ The positive intention of fear is risk control ”

– Ed Seykota

“ Speculate with less than 10% of your liquid net worth. Risk less than 1% of your speculative account on a trade ”

– Ed Seykota

“ If you can’t measure it, you probably can’t manage it… Things you measure tend to improve ”

– 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 ”

– Ed Seykota

“ Before I enter a trade, I set stops at a point at which the chart sours ”

– Ed Seykota

“ My style is basically trend following, with some special pattern recognition and money management algorithms ”

– Ed Seykota

“ Trend following is an exercise in observing and responding to the ever-present moment of now ”

– Ed Seykota

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

– Ed Seykota

“ I don’t predict a non-existing future ”

– Ed Seykota

“ Good traders trade. Good letter writers write letter ”

– Ed Seykota

“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.”

– Ed Seykota

“The elements of good trading are: cutting losses, cutting losses, and cutting losses. If you can follow these three rules, you may have a chance.”

– 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.”

– Ed Seykota

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

– Ed Seykota

“If you can’t take a small loss, sooner or later you will take the mother of all losses.”

– Ed Seykota

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

– Ed Seykota

“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.”

– Ed Seykota

“It’s not whether you’re right or wrong that’s important, but how much money you make when you’re right and how much you lose when you’re wrong.”

– Ed Seykota

“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

“The elements of good trading are: (1) cutting losses, (2) cutting losses, and (3) cutting losses.”

– Ed Seykota

“The idea is to make decisions and take actions based on where you think the market is, not where it should be.”

– Ed Seykota

“There is no holy grail, no secret formula, no short cut to success. Only proper education, sound principles, and hard work will get you there.”

– Ed Seykota

“Trade like a mercenary guerrilla: wait for the right opportunity, execute the trade with precision, and then get out.”

– Ed Seykota

“The trend is your friend until the end when it bends.”

– Ed Seykota

“If you can follow a few simple rules, you may have a chance.”

– Ed Seykota

“The markets are the same now as they were 100 years ago because they keep changing – just like they did then.”

– Ed Seykota

“Everyone gets what they want from the market.”

– Ed Seykota

“The big money is made in the big swings of the market.”

– Ed Seykota

“The key to successful trading is not predicting the future, but managing the risk.”

– Ed Seykota

“Your biggest enemy in trading is often yourself. Master your emotions and stay disciplined”

– Ed Seykota

“Know your system and execute it with confidence and discipline.”

– Ed Seykota

“Risk comes from not knowing what you’re doing.”

– Ed Seykota

“The markets are filled with traps and pitfalls, but also with opportunities. It’s up to the trader to navigate them wisely.”

– Ed Seykota

“The only way to consistently make money in the markets is by sticking to your system and being disciplined.”

– Ed Seykota

“Trading is a psychological game. Master your emotions, or they will master you.”

– Ed Seykota

“The most important part of trading is not the stock you trade; it’s the mindset you bring to the trade.”

– Ed Seykota

“The best traders know how to cut their losses and let their profits run.”

– Ed Seykota

“Trading is a business, not a game. Treat it as such.”

– Ed Seykota

“Successful trading is about taking a series of small losses and letting your profits run.”

– Ed Seykota

“The market is not your friend. It’s an opponent that you need to outsmart.”

– Ed Seykota

“Consistency is the key to success in trading. Stick to your plan and execute it consistently.”

– Ed Seykota

“There are no shortcuts or magic formulas in trading. It requires hard work, discipline, and continuous learning.”

– Ed Seykota

“Trade what you see, not what you think.”

– Ed Seykota

“The market doesn’t care about your opinions. It only cares about supply and demand.”

– Ed Seykota

“Risk management is the backbone of successful trading. Protect your capital at all costs.”

– Ed Seykota

“The market is always right. It’s our interpretation that may be wrong.”

– Ed Seykota

“Don’t try to predict market tops or bottoms. Focus on following the trend.”

– Ed Seykota

“Stay humble and always be willing to learn from your mistakes.”

– Ed Seykota

“The biggest risk in trading is not taking any risk at all.”

– Ed Seykota

“Trading is not about being right all the time. It’s about being profitable in the long run.”

– Ed Seykota

“Don’t get attached to your trades. Be willing to cut your losses and move on.”

– Ed Seykota

“Patience is a virtue in trading. Wait for high-probability setups before entering a trade.”

– Ed Seykota

“Keep your trading system simple and avoid unnecessary complexity.”

– Ed Seykota

“Your biggest enemy in trading is often yourself. Master your emotions and stay disciplined.”

– Ed Seykota

“Success in trading comes from doing the things that others are unwilling to do.”

– Ed Seykota

“Trade with the trend, not against it.”

– Ed Seykota

“The best traders are those who can adapt to changing market conditions.”

– Ed Seykota

“Focus on the process, not just the outcome. Stick to your plan and execute it flawlessly.”

– Ed Seykota

“Trading is not about being right or wrong; it’s about managing risk and maximizing profitability.”

– Ed Seykota
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