[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$f4CqsHz1rDzttu7K2MIGu2N_HW3CdsdEUKcPFyWxcQxI":3,"$fcyzBu6uddOJ49DNeaDmPItukT3D52W-a73zBr0khSgo":12},{"author":4,"tags":11},{"author_id":5,"author_name":6,"author_name_first_letter":7,"article_count":8,"bio":9,"short_bio":9,"bio_jsonld":9,"slug":10,"image_url":9},202005,"Ed Seykota","E",39,null,"ed-seykota",[],{"quotes":13,"pagination":78},[14,22,28,34,41,47,53,60,66,72],{"id":15,"quote_text":16,"author_id":5,"source_id":17,"has_image":18,"author":19,"source":20,"quote_tag":21,"commentary":9},2995123,"It is a happy circumstance that when nature gives us true burning desires, she also gives us the means to satisfy them. Those who want to win and lack skill can get someone with skill to help them.",6,false,{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[],{"id":23,"quote_text":24,"author_id":5,"source_id":17,"has_image":18,"author":25,"source":26,"quote_tag":27,"commentary":9},2995121,"I would add that I consider myself and how I do things as a kind of system which, by definition, I always follow.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[],{"id":29,"quote_text":30,"author_id":5,"source_id":17,"has_image":18,"author":31,"source":32,"quote_tag":33,"commentary":9},2995119,"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.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[],{"id":35,"quote_text":36,"author_id":5,"source_id":17,"has_image":18,"author":37,"source":38,"quote_tag":39,"commentary":40},2995118,"Pyramiding instructions appear on dollar bills. Add smaller and smaller amounts on the way up. Keep your eye open at the top.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[],"**The Backstory**\n\nThis quote is attributed to Ed Seykota, a renowned futures trader and one of the first practitioners of technical analysis. The era of his life relevant to the sentiment was the 1970s and 1980s, when he developed and refined his trading strategies. During this time, Seykota faced numerous challenges in navigating the volatile markets.\n\n**The Hidden Insight**\n\nThe phrase \"Keep your eye open at the top\" is where most people miss the true meaning of the quote. It's not about anticipating a peak or plateau but rather recognizing when to adjust one's approach and be prepared for an eventual decline or reversal, which can be as subtle as a change in market sentiment.\n\n**How to Use This**\n\nTo apply this mindset today, a trader or investor should focus on continuously monitoring their strategies' effectiveness and being willing to adapt or pivot when the evidence suggests it. By doing so, they can mitigate potential losses and maintain a more sustainable edge over time.",{"id":42,"quote_text":43,"author_id":5,"source_id":17,"has_image":18,"author":44,"source":45,"quote_tag":46,"commentary":9},2995116,"Fundamentals that you read about are typically useless as the market has already discounted the price, and I call them “funny-mentals”. However, if you catch on early, before others believe, you might have valuable “surprise-a-mentals”.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[],{"id":48,"quote_text":49,"author_id":5,"source_id":17,"has_image":18,"author":50,"source":51,"quote_tag":52,"commentary":9},2995115,"The idea of searching for some secret for trading success misses the point.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[],{"id":54,"quote_text":55,"author_id":5,"source_id":17,"has_image":18,"author":56,"source":57,"quote_tag":58,"commentary":59},2995113,"The biggest secret about success is that there isn’t any big secret about it, or if there is, then it’s a secret from me, too. The idea of searching for some secret for trading success misses the point.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[],"**The Backstory**\nEd Seykota, a renowned trader and quant, uttered these words during an interview, likely in the late 1990s or early 2000s. At that time, he was reflecting on his own journey as a successful trader, which involved numerous failures and struggles to develop effective strategies. Seykota's statement is part of a broader critique of the cult of personality surrounding trading \"gurus\" who promise easy success through secret formulas.\n\n**The Hidden Insight**\nSeykota reveals that the pursuit of secrets for success often distracts from what truly matters: understanding the underlying dynamics and processes that govern markets. By questioning the idea of a single, hidden secret to success, he highlights the fallacy of oversimplification and the importance of nuanced, contextual analysis.\n\n**How to Use This**\nEmbracing Seykota's perspective requires letting go of the desire for shortcuts or magical solutions. Instead, focus on developing a deep understanding of your craft, whether trading, writing, or any other complex endeavor, by cultivating patience, persistence, and a willingness to learn from failures and setbacks.",{"id":61,"quote_text":62,"author_id":5,"source_id":17,"has_image":18,"author":63,"source":64,"quote_tag":65,"commentary":9},2995111,"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.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[],{"id":67,"quote_text":68,"author_id":5,"source_id":17,"has_image":18,"author":69,"source":70,"quote_tag":71,"commentary":9},2995109,"Losing a position is aggravating, whereas losing your nerve is devastating.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[],{"id":73,"quote_text":74,"author_id":5,"source_id":17,"has_image":18,"author":75,"source":76,"quote_tag":77,"commentary":9},2995107,"Dramatic and emotional trading experiences tend to be negative. Pride is a great banana peel, as are hope, fear, and greed. My biggest slip-ups occurred shortly after I got emotionally involved with positions.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[],{"currentPage":79,"totalPages":80,"totalItems":8,"itemsPerPage":81},1,4,10]