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
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.
Interpretation
What this quote means
The quote emphasizes the importance of understanding market dynamics and accepting its natural movements rather than resisting them.
Ed Seykota's quote uses the metaphor of waves at the beach to illustrate how one should approach the market. Just as one cannot control the waves, traders and investors should recognize that the market operates on its own principles. By understanding and adapting to the market's natural ebb and flow instead of trying to fight against it, one can achieve better outcomes. This quote reflects a deeper philosophical insight into the nature of acceptance and the futility of resistance.
Themes
MarketWavesAcceptanceTradingPhilosophy
In practice
Example use cases
This quote could be used in a financial seminar to teach about market trends.
More from Ed Seykota
All quotes βCharting 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.
Ed SeykotaRead
Similar quotes
Human history is a Gaian dream.
Terence MckennaRead
Silence is the sea, and speech is like the river. The sea is seeking you: don't seek the river. Don't turn your head away from the signs offered by the sea.
RumiRead
Alcohol is barren. The words a man speaks in the night of drunkenness fade like the darkness itself at the coming of day.
Marguerite DurasRead
To be contemplative we must remove the clutter from our lives, surround ourselves with beauty, and consciously, relentlessly, persistently, give clutter away until the tiny world for which we ourselves are responsible begins to reflect the raw beauty that is God.
Joan D. ChittisterRead
The trouble with conspiracies, even those that are to everybody's advantage in the long run, is that they are open to abuse. If manipulators really had the powers claimed, they could win the lottery every week. I prefer to point out that they could also win a Nobel Prize for discovering fundamental physical forces hitherto unknown to science.
Richard DawkinsRead
What can I say without touching the earth with my hands?
Pablo NerudaRead