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Key Points

  • Trend followers are right for the trend and wrong at each end.

  • Ed Seykota: “A system should support and reflect the attitude of a trader.”

  • Ed Seykota: “There is no best system any more than there is a best car. There might however be a best car for you.”

  • Ed Seykota: “If you can’t afford to lose, you can’t afford to trade.”

  • Concentrate on the process, not the results.

  • Money is only a means of keeping score.

  • Taking losses should be easy. You should have them quantified before ever entering the market.

  • Trust your trade. If you can’t trust it, don’t trade.

  • The exact turning point, the top or bottom, can’t be known until it is over and a matter of record.

  • Once you take your signals and enter, trading becomes a waiting game. Wait to see what happens next.

  • The more volatile the market, the less you want to risk. The less volatile the market, the more you want to risk.

  • Big trends make big profits.


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