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
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.
In practice
A motivational speaker could use this quote when discussing the importance of seizing opportunities.
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.
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.
Simplicity, patience, compassion._x000D_ _x000D_ These three are your greatest treasures._x000D_ _x000D_ Simple in actions and thoughts, you return to the source of being._x000D_ _x000D_ Patient with both friends and enemies, you accord with the way things are._x000D_ _x000D_ Compassionate toward yourself, you reconcile all beings in the world.
Don't let circumstances distress you. Rather, look for the will of God for your life to be revealed in and through those circumstances.
Abundance is scooped from abundance yet abundance remains.
Facts are ventriloquist’s dummies. Sitting on a wise man’s knee they may be made to utter words of wisdom; elsewhere, they say nothing, or talk nonsense, or indulge in sheer diabolism.
I decided I would go to Chicago and try my luck as a writer after those eight months as a fireman.
It is as commendable to think well of oneself when alone, as it is ridiculous to speak well of oneself among others.
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