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 SeykotaRead
Charting is a little like surfing. You dont have to know a lot about the physics of tides, resonance, and fluid dynamics in order to catch a good wave. You just have to be able to sense when its happening and then have the drive to act at the right time.
Interpretation
What this quote means
Success often requires intuition and timely action rather than deep technical knowledge.
In this quote, Ed Seykota compares the art of charting in trading to surfing, highlighting how one does not need to understand every intricate detail of the underlying science to excel. Instead, it emphasizes the importance of instinct, awareness, and the courage to take decisive action when opportunities arise, suggesting that sometimes, practical experience and timing are more valuable than theoretical knowledge.
Themes
ChartingSurfingSuccessActionIntuitionTiming
In practice
Example use cases
A motivational speaker could use this quote when discussing the importance of seizing opportunities.
More from Ed Seykota
All quotes →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 SeykotaRead
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