Quotes from Ed Seykota

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

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.

A lot of people would rather understand the market than make money

The key to long-term survival and prosperity has a lot to do with the money management techniques incorporated into the technical system.

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

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

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.

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 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.

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.