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Contributors Say Ed Says
July 29, 2020

Resistance

Dear Ed,

I hope you are doing well. Thank you for your witty and pointed response, I learn a lot of insight from your responses to my questions as well as your responses to other's questions.

I have come across a phenomenon in my life and I wonder if you have experienced this yourself. Whenever I have an idea to do something, and let's say I'm talking to a friend or parent and I tell them that I'm going to do this idea then a flow of negative energy goes through my body and I lose the excitement to do what I just told my friend/parent what I was planning on doing.

This is a very strange phenomenon. I would like to tell people what I'm doing and what I'm planning on doing without losing the excitement. I wonder if you have a better understanding of this phenomenon and how it operates that can help me respond better to this phenomenon and that you are willing to share?

Thank you

Thank you for raising this issue.

You might consider, as you notice this feeling from now and again, to embrace it, amplify it, enjoy it and explore it.

You might come to form an alliance with it and receive valuable insights from it as well as  guidance toward right livelihood.
July 29, 2020

Rude

Hi Ed,

I must say when you first responded to me I was confused. I will be honest…. I thought at times you were a little rude. I read your responses to others and thought *that was not helpful. Why can’t he just be clear and honest? 

Over time, however, I have grown to appreciate how clear cut and honest your responses are.

My recent favorite was in June

Searching for the best might provide an excuse for not committing to something pretty good and going for it.

After reading that I thought to myself, yes that was me at one point. 

Thank you for helping me grow. 

Regards

P.s. I wonder if you will tell me to take my feeling about….. some area I have overlooked…. to Tribe as an entry point
Thank you for sharing your process and for acknowledging me and the work.
July 28, 2020

Selling the Low

Ed,

I believe institutional investors are selling the low on CTAs and trend following once again.

They have a knack for piling in around major tops and bailing out around major bottoms.

"Over the past 12 months, CTAs experienced $25 billion in redemptions, 4.6% of industry assets. A $4.6 billion 12-month trading loss brought total industry assets to $284 billion at the end of May, down from $320 billion a year earlier."
Thank you for sharing your insights.
July 28, 2020

Transit Delay: May 29 --> July 28

Hi Ed

I hope you’re doing well.

This morning, I received the ordered book – so you were right about the delay in shipping.

I’m looking forward working with the book and wish you a great day.

Best regards
Thank you for confirming the currrent transit delay from Austin TX to Switzerland.


July 27, 2020

Keep Breathing

Hi Ed,

Everyone on the planet now more conscious of breathing, yes?

Here is an article by a fellow purporting to have researched breath for years, a not-so-subtle ad for his new book.

Author completely ignores Stan Grof and your ground-breaking breathwork.

sigh,
Thank you for sending me the link.

The author might have a few issues to resolve, say, with Breathwork.
July 27, 2020

Magazine Cover

Dear Sir,

I wonder what you feel about this magazine cover.






Thank you for raising this issue.

I do not detect much feeling on this cover.

Some covers convey feelings; the ones that convey intense feelings may also associate with abreactions and subsequent reversals.


July 26, 2020

Guru Dynamics

Ed,

" If the student has adopted the wisdom from his guru to the bottom of his heart then he shall not forget for a second the knowledge, he shall not need the help of guru anymore."

The above is from FAQ, July 5, 2020.

Do you think as readers of FAQ  integrate some/or all aspects of life in TTP, they increasingly have fewer visits on FAQ pages and fewer correspondence?

Thank you for raising this issue.

The quote appears, without attribution, from a FAQ contributor.

The quote does not follow SVO-p grammar rules - such as staying in the now - so I suspect its guru-authenticity.

From now and again I receive a binge series of questions from one or another contributor.

You might consider taking your feelings about <reaching out to your father> to Tribe as an entry point.
July 26, 2020

Chicago Tribe

Hello Ed,

I came across your website just recently, I am not a professional trader. I've been trying to grow my IRA account for the last couple of years, but without a bigger success.

Finally decided to change course, take a break, and learn from those who are disciplined, consistent, and successful...  before getting back.

I would like to ask, If you know of existing Tribe in the Chicago land area open to new members (or any other location)?.

All the best!
Thank you for raising this issue.

You can check the Reach-Out page for contacts in the Chicago area.
July 26, 2020

Speed of Trading

Easy Ed,

I trust all is well these days old friend and that you are staying healthy and wise. I see you are still busy helping new and old traders to improve themselves, by giving back subtle nuggets of wisdom and truth for the benefit of others.

While just having a lazy Sunday afternoon, I noticed your interesting and quite valid (July 14) response to a FAQ post regarding change. Per your reply, some changes have certainly occurred in the markets during recent decades; like the speed of price reporting, instruments available, methods used (such as more algos) and fewer pits left today etc.

But - since we started trading about 45 years or so ago, the 2 basic tenets (impact of emotions involved and the profit dynamics) have not changed, since you still must have very strict discipline to survive and you must always sell higher than you buy (whether a long or short position) in order "to profit from a price trend" as you have always said...  Very simple, but never easy.

Stay safe and well,
Thank you for sharing your insights.
July 26, 2020

Looking for Members

Hi Ed,

I can logon fine now - thanks for clearing that up.

Do you know if there are any active members/groups in Sydney or Australia? I tried reaching out via the link  to all the Sydney members listed but I didn't hear any response - It would be great to attend a tribe session even if I had to travel interstate.

PS some great posts on https://twitter.com/TradingTribe they are very enlightening :)

Thanks,

Thank you for sharing your process.

I do not monitor the activity on the Reach-Out page.

From now and again, I post a link to an FAQ item to Twitter.
July 22, 2020

Stuff

Ed,

Sounds like something Ed Seykota would have said:

“If you don’t make stuff, there’s no stuff.”
-Elon Musk
Thank you for raising this issue.

In my book, Govopoly, I present economics in terms of stuff (tools) rather than in terms of dollars.


July 22, 2020

Intimacy and Control

Ed:

What option do you have about the following? Any insights on the subject would be helpful.

"In a truly intimacy centric relationship you do things that you otherwise would not have done, if you were not in that relationship. You do it because your partner wants it. You do it as a nature flow and does not feel need to know why you are doing it or feel at oddity with your own intrinsic nature"

Thank you for raising this issue.

Intimacy has to do with receiving another person joyously and without judgment.

Control has to do with domination and compliance.

Control-centric methods may include mimicking intimacy.
July 20, 2020

TSP (Trading System Project)

 Hi Ed,

I see that there are pending topics in TSP page(Trend Definition/Testing Platforms/Bliss Functions/Optimize a Trend System/Dynamic Portofio Selection/Dynamic Risk Modification/Pattern Recognition…), I feel I have strong willingness to finish these topics and make TSP more whole.

I see so many persons ask Ed Seykota to update and finish these pending topics so many times in FAQ but these topics are still pending, because nobody is really willing to spend time and efforts to make it. It is like an inactive market that shows false break out but not really trend up.

My hunch is that these pending topics would be better studied in a trading system that embedding necessary basic components and at the same time, keep them simple in the beginning. So I want to create a ground and then we can further study these pending topics and extend them basing on this ground.

That’s what I want and this is my intention.

So now, after reading some books about trend following and learning the basic knowledge, here I define basic and simple entry/exit rule and simple risk management rules to create a simple break out trend following futures systems. And I would program it and backtest this system. Actually I don’t know how the result would be. Basing on this, I and other fellows can study those pending topics together.

Let’s finish the TSP and make it!

I can provide necessary data if there is anyone want to follow my path or cross-check my following backtesting results to make contributions together.

- - - - -

An idea comes to me: Adaptive method might be the core.

I realize that my expectation that a simple SR parameters setting is suitable for all futures markets is from fundamental mindset.

Just want to report to you and share my process.

This "Aha process" leads me to think and plan to design a adaptive SR parameters setting for different markets' characteristics, like recent volatility compared to long-term volatility.

This might be a good idea.
Thank you for sharing your process.
July 19, 2020

Utility of Causality

Ed:

"Causality is useless" : can you elaborate more , please ?

Even when you look at components of a system, they all trigger one thing or the other based on components initial state and inherent property.

Thanks,



I wonder if you can provide some context and source for the statement: "Causality is useless."
July 19, 2020

Commitment

Hi Ed,
I am a big fan of yours, I am writing to you for the first time. I recently read an interview where you discuss commitment

"to the committed, a world of support appears. All manner of unforeseen assistance materializes to support and propel the committed to meet grand destiny..." This quote immediately reminded me of a couple of your previous remarks: "everyone gets what they want..."  and  "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."

That being said, I wanted to share the daily actions I perform and would ask if you think any are a waste of time, and / or have other daily actions that would be beneficial I would appreciate it.

For context: my intention is to be a financially independent trader. Currently, I am employed in an unrelated field (railroad) with solid success financially and in moving up the ranks, however it is not my true calling.

Every day, I wake up and meditate in silence for about 45 min  with an additional 15 minute session visualizing my end goal. I meditate with the intention to enhance my ability to recognize emotions as they come up and have made a personal commitment to feeling them.

I also affirm daily as a form of self hypnosis "I am a millionaire trader" to impregnate, water and fertilize my subconscious (Fred) with who I am becoming.

Beyond that I am always on the search for new trading opportunities and am constantly enhancing my skill set. Example: currently I am going through the book Drawing on the Right Side of the Brain (more for accessing the right side of the brain than drawing :). I know music is a big part of your life, and would wager that it has enhanced your trading through "AHAs" and/or the Joy it provides.

Thank you for reading and very grateful for all that you share.

Best,
Thank you for raising this issue.

From Intention = Result, we have your actual intention including:

1. Saying you have an intention to trade.
2. Continuing to work well on the RR.
3. Saying RR does not represent your true calling.
4. Meditating.
5. Searching.

Your actual intention does not seem to include very much about actual trading.

If you wish to move to a new spot, you might consider starting by celebrating your current spot.

In this regard, and since you mention music, you might consider singing along with this tune
until you can sing it from your heart and with a big smile.  

At that point, the track ahead might come more clearly into view.

July 17, 2020

Link not Working

Ed,

https://www.seykota.com/TT/Breathwork 
Thank you for reporting the link.

I wonder if you can tell me the page upon which this link appears.
July 17, 2020

Link not Working

Ed,

Website down for everyone or just me?

https://www.seykota.com/tribe/charts/Home.aspx

Thank you for noticing the orphan link (from 2014).

You might consider using:
www.TradingTribe.com
and then click on the Charts drop-down menu.
July 17, 2020

More Process Notes

Ed:

Here are my notes from the meeting and how I was feeling as the meeting went along.

-          I am generally known to be late by a few minutes for almost any meeting. I thought (not sure if it was correct) that Ed viewed being on time as a sign of commitment (I don’t view it that way but it could be true for a large majority of people ) so I arrived five minutes earlier. Ed was not there, so I decided to take a restroom break, hoping that I would not have to go in the middle of the meeting to avoid any interruptions.

-          Ed asked me what I want to achieve from this meeting. I started with a few things (for me the idea was to describe all of them because they are all related and start with one original problem) . Ed pressed again what it is that I want to achieve. I mentioned that I want to understand why there is recent flare up intense emotions about a relationship that ended couple of decades ago and second I want this feeling to go away so I can focus on my present life

-          Ed probes about that old relationship. I become nervous with fear that I am not going to be able to explain to him because the subject was loaded with a huge “cultural gap” and I become worried that “Doctor is going to give incorrect medicine, if the patient is not going to describe symptoms correctly” . But then I quickly realize that this is not a doctor patient situation, this is me getting a framework to work on myself. I give it a try.

-          As much as I tried to stay on Ex-gf issue, we spend about 5-7 minutes on it and Ed quickly concludes that the old relationship has not a problem at the moment, it is something from the past that I use as an escape from my current relationship reality. In my mind I agree with that I was using it as an escape. Ed makes some observations about me in that old relationship, which did not make sense at the time of meeting, but after a few hours I get it:  The fact that I was being logical in that relationship and ex-gf wanted me to understand her emotionally and cater to her emotional needs. I was trying to solve the problem at the time with rationality on what was the best way we can be together, and she had an emotional pressing need and somehow I failed to listen to and act upon that emotional need in a timely manner.

-          Ed presses me to focus on what I want and questions me why I am dancing around the various subjects and not really telling what I really want to tell. At one point he says that he is a patient man, but he has other things to do. I take it as an attempt to make me go straight to the real issue, whatever is that. In my mind, I think that describing all these things are extremely relevant because that is all connected. In the interest of time, I drop my desire to work on ex-gf problems for that meeting.

-          Then we come to the status of my marriage. I mentioned that it has a lot of problems. Ed says here you go again that I am probably doing the same thing. Maybe I am trying to be logical and my wife has a current need that someone needs to understand her emotionally. We talk about my children. Ed mentions that I am inadvertently giving this trait of not sharing emotions and the process is already started. He also mentioned that the oldest one would be beyond my capacity to influence, but I may have a chance with little ones. This completely scares me. I may have many imperfections, but a great source of satisfaction for me was that I am an amazing father.( I made a commitment to probe my children everyday about their own feelings and if they are expressing them. In the night I asked them what the best thing, ok thing and worst thing for them during the day was and why they felt that way.)   

-          Ed concludes, and I agree, that both my wife and I have immersed ourselves into our children as a way to cope with our marital problems.

-          At one point I told Ed that I am communicating good enough to him. The communication transmission is about 5% of it’s full potential in my mind. I try using metaphor / example to describe the situation. It seemed to have worked. Now it feels we are getting somewhere. I am generally good with metaphors. It is a great technique if one is dealing with a lot of situations with providing proper context is very important.

-          Then we go on applied aspects of what can be done. I tell Ed that I am very certain that only the TTP process is going to help me and I am committed to work on myself.

-          I described the incident to Ed when I mentioned to my wife about the “Trading Tribe Book” and how helpful it is and her reaction to that. Ed said that what I was telling my wife is that : Look, you have a problem and here is a tool to fix yourself , go and fix it. I was giving her a book, but I was not living according to what is described in the book

-          Then we talk about some changes I am going to make for the next three weeks and report them back. They include expressing what I feel to my wife, acknowledging her feelings in a manner that does not sound sarcastic or therapeutic, try making it sound like conversation. I agree with the idea that if you want to build muscles, you need to lift weights. If you don't want to lift weight, don’t expect to have a toned body. It is a simple matter of choice.

-          Last few minutes were Interesting. Where anything I say , Ed would say “if that is what you do then that is what you do” nearly six or seven times he repeated that response for various things I was saying. Strangely enough, I was relaxed. What I concluded is that we are all creatures of our own habits. Neither right or wrong, they are what they are. Only question to ask is if those habits are what they are, are going to give you what you want. Ed, I am not sure what was going on at the very end part at the table, it would be great if you can recall and throw some light on it.

-          Outside of the restaurant as we were leaving, Ed asked what I am driving, I pointed to my car. Not sure what he asked. I can only guess. But again, it did not feel relevant to my pressing issue so we smiled behind our masks and hit the road.


Thank you for sharing your process.

The last few moments of the meeting might account for most of the moment of the meeting.  
You might recall repetitive language, a feeling of calm, a lack of concern about your girl friend and a different view of your self after those moments.

If you'd like to know more about how this all works, you might consider practicing TTP.


July  17, 2020

Updating Issue

Hi Ed,

I hope you are well.

I have been following the trading system examples on your website recently as they are really helpful to see what trend trading actually is. However, I noticed that they are not updating anymore since the 14th of July. I wanted to let you know about this problem. Hopefully it can be fixed soon.

Thank you for your help and for being a great inspiration to many traders.

Best regards,

Thank you for reporting this issue.

I now have it back on line.
July 17, 2020

Process Notes

Detailed report of meeting with Ed is coming later.

Here is big highlight: meeting went as I have expected. I had expectation that I would understand about 20% and rest of 80% would not make sense. But like all other work from Ed, I have to park that 80% somewhere else and it will all come together some day. Biggest difference before and after meeting was simply my state of mind. Ex-girl friend was gone from my mental landscape, at least for now.

The following transpired after I reached home.

-          Three kids at the door ready to jump on me , because they are seeing father after full 24+ hours.

-          Wife scolds them  asking them to stay away from me till go and change the clothes and take shower because I am coming home after visiting pandemic infested world outside house.

-          Then I go to kitchen to hug her, she asked me to go away to bathroom and take shower before coming anywhere near her. This is at 10:30 pm and she is in early stage of preparing dinner. That irritates me, because such a late dinner throws off kids schedule. But I do not express my displeasure. I go for shower to stop pandemic conversation.

-          After I come out , wife ask detailed questions about how many people I have met on business trip, if everyone was wearing masks, if social distancing was maintained etc. I did my best of truth and convenient withholding of information. But strangely enough I was not getting irritated. She is behaving on expected line and I was just going with it.

-          I asked her how was her day ? Her response was there is nothing new in her day, it was same old and she is never going to get break from three kids and their needs. Again, I truly believe that it cannot be that hard but I responded that anything I can help to make rest of evening easy for her. She said nothing I can do.

-          Then we sat down for 10 minutes and wife asked me show pictures I have taken from business visit to kids. Kids liked the pictures I told couple of small stories about pictures and it its context.

-          Wife asked detailed questions about what did I eat and where in last 24 hours with pandemic as a context , meeting with Ed did not feature in that conversation.

-          Dinner time 11:35 pm, I went along with it.

-          After dinner wife had one of those blow up on repeated theme, I did not respond with blow up on my side. I patiently listen to her, told her that I acknowledge her anger and belief system. I gave her full carte blanche or doing whatever she wanted to do and I would support it. I told her that I am not angry at her conduct , but I am definitely sad.

-          I am wondering if I followed what I have had discussed with Ed. In any case outcome was better than similar situations in the past.


Thank you for documenting your process.
July 16, 2020

Fake Accounts

Ed.

I see a fake account, "Ed Seykota 1st" on LinkedIn. 

If you are on LinkedIn you can report this account to be a spam under more option / report or block / report this profile.

If you need more people reporting this profile to be spam then I can ask some friends and students to do that?

Or you can send a message to the profile owner to bring it down.

If you have any other suggestions or need any group support then we may be able to assist anytime.

Thank you for letting me know about this account.

From now and again I go after uch fake accounts them and shut them down - only to see them pop up again in slightly different form.

My readers can generally spot fakes with little effort.


July 16, 2020

Sees the Light

I am a financial advisor who has recently seen the light. I would love to join a Tribe and gain mentorship. How can I do this?

Best regards,
Thank you for raising this issue.

You can read through FAQ, send in you own questions and contact others through the Reach-Out page. All for free.

If you want private consulting, see Ground Rules, above.
July 14, 2020

Back in the Day

Hi Mr. Seykota,

Not sure if you check this email anymore, but wanted to give it a try.

I’ve been a trader for about 2 years now and just got around to reading “Market Wizards”. Although your interview is from 1988, it still holds true to this day and was probably my favorite one in the whole book.

I wanted to know out of curiosity if you’re still trading after all these years?

I know a lot of things have changed in the markets, but the use of punch cards in 1970s reminds me a little bit of how Machine Learning and AI systems are becoming more popular nowadays in many trading systems.

Would love to get your take on how you view the differences in today’s markets vs. how it was back in the 70s/80s + 90s.

Best,

Thank you for raising these issues.

I still speculate, in the sense of the Latin root, speculare, meaning to observe; meditate; ponder; reflect.  I may also, from now and again, enter or close a position, in accordance with my assessment of trend.

Machines (lately AI systems) keep increasing the velocity of transmission of information.

Between Europe and the US, over the last century, this velocity increases from the speed of boat to the speed of light.

During this transition you might notice the peregrinations of price remain fairly constant, both in frequency and amplitude.

In 1841, Charles Mackay writes Extraordinary Popular Delusions and the Madness of Crowds.

You might notice his examples still apply.  

Today, people fancy themselves exempt from the basic human condition, same as the people from the 70's, 80's and 90's.
July 11, 2020

Feelings and Rocks

Ed:

Could you help me understand the difference between “letting conscious mind experience feelings” vs “having emotional rocks”.

I am letting feelings flow uninterrupted, trying to let sadness flow without judgment or not consciously trying for sadness to go away.

If sadness causes crying then cry, if it causes anger, then be angry.

If it causes me to stop doing what I am doing and sit in a chair then I do that. To me that feels like experiencing sadness.

But then I look at TTP Extension Page 2/12. Those same very things are described as emotional rocks.

I understand that do it yourself TTP does not work without a field of acknowledgment.

Any thought would be helpful.

Regards,


Thank you for sharing your process and for raising this issue.

You may experience feelings by allowing your sensations and emotions to inform your conscious mind about some issue.

As your conscious and  subconscious processes connect, you may notice an Aha.

The Aha may then lead to a pro-active response, in alignment with right livelihood.

A Rock typically contains a personal method for responding to feelings medicinally, so as to avoid having to implement a more pro-active response.




July 7, 2020

Guilty of Winning

Hi Ed,

I recently have an aha that I struggle to accept.  I realize trading might not align with my feelings surrounding integrity.

I can't help but wonder why now, where were these feelings when I first start trading 10 years ago.

Hearing the phrase "for the good of all" triggers this aha of trading and my beliefs on integrity.

The concept of the zero sum game in trading futures where money flows from the losers' accounts into the winners' accounts now triggers strong emotions within me.

After years of practice, trial and error and self exploration I feel capable of extracting money from the markets and keeping it.  Sometimes it seems too easy and often too good to believe given my past struggles.

I now feel guilt and sadness at the thought of enriching myself at the expense of others. 

More specifically I see myself as the newbie on the other side of my trade.  Sitting in anguish as money drips then pours out of my account and into that of the pro.

I recall my own feelings of anger and frustration as an inexperienced trader.  I now see myself as the deliverer of this.

Around the time of this aha, I also expose myself to the idea of examining why I want what I want.

I start trading because I want the security and stability that comes from having monetary wealth.  I also want the recognition and admiration that comes from succeeding in a field where the majority fail.

Those reasons now seem rather empty and unfulfilling.

Thank you for sharing your process.






July 7, 2020

Messy and Out of Control

Dear Ed,

I hope you are well. I recall reading on Wikipedia that you get a Bachelor's degree in electrical engineering.

I recall conversations with my friends in college who at that time study electrical engineering, about if they were taught how to program.

They tell me, not really just some basics to help them with some practical projects.

MIT might have a different approach during your time there but if not how did you learn good programming principles and software design practices.

I have acquired a lot of domain knowledge about trading and want to test it but keep getting stuck when my python scripts get too messy and out of control, scattered functions, circular logic.

Do you have any book recommendations for learning how to structure a software program?

Thank you
Thank you for raising this issue.

You might consider taking your feelings about <keeping your sock drawer tidy> to Tribe as an entry point.


Clean Code
and clean socks

both protect your digits.

Image Credit

July 5, 2020

Guru Purnima Verses

Dear Ed,
 

Thanks for being an inspiration for us...

 
On the auspicious occasion of Guru Purnima I offer  .. in English some verses:


Even if the whole earth is transformed into paper with all the big trees made into pens and if the entire water in the seven oceans are transformed into writing ink, even then the glories of the Guru cannot be written. So much is the greatness of the Guru.


Understand guru to be at the top of all because no one is like him, The person who obeys the order of his guru with full devotion has no fear.

 
I face both God and my guru. Whom should I bow first? I first bow to my guru because he's the one who showed me the path to God.


If the student has followed the path taught by his guru then it doesn’t matter whether guru in the city of Banaras and the student in near the bank of the sea. If the student has adopted the wisdom from his guru to the bottom of his heart then he shall not forget for a second the knowledge, he shall not need the help of guru anymore.


Guru is like a washerman and the disciple is like cloth; God Himself is the soap. O Guru! Please wash my thought waves on the stone of meditation, then the unlimited light will appear.

 
The people who do not understand Guru are blind. If God is displeased with us then Guru is there for salvation. If he is displeased there can be no salvation.


Nothing mine belongs to me, all that is yours; To give all that to you, what’s there for my remorse?


All things of man belong to the Almighty Father as his grant of grace to man. As such, why should there be any hesitation on the part of man to give all that to God, the giver ?


I was searching for help, for love, someone where I could be myself being with him. But I couldn’t find anyone. Everyone here is burning through his own fire.


I wondered in search of true lover but did not find any, When a lover meets another, then all all poison turns into nector.


A disciple should be such who is ready to offer all his possessions to his Guru; and only then it is possible to receive true knowledge from Him. A Guru should be selfless, abstemious, and contented. He should not expect anything from his disciples, because where a Guru is greedy and desired something from his disciples, the dignity of a guru gets hampered.
 
Thanks for listening and reading.

Thank you for sending me your translations.

I feel fortunate to attract gurus from all over the world who come to FAQ  enlighten me with their thoughts and feelings and keep me on the path.




July 4, 2020

Personal Frequency

Dear Mr. Seykota, 

on Thursday, October 9th 2003, you write:

"In general, if you trade a market a few times a year and hold a position for months when you are right, transactions costs become irrelevant."

My system follows long-term trends and cuts losses very short.

As a result, the system trades each market about 8-9 times a year.

In your experience, is that too frequent? 

Best regards, 
Thank you for raising this issue.

Some traders hold positions for decades; others trade hundreds of times per day.

You might consider sorting out your personal frequency by running back tests and also by making sure you can handle it emotionally.
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