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Ed Seykota is a hugely succesful trend follower. He also keeps a very low-profile. You will not see him on CNBC, so any sort of public appearance where he can distil some of his wisdom is a rare “gift”.
The main message of the song is to “stick to the rules” – which is a fundamental aspect of Automated Trading Systems whatever stratgy the system uses. Please enjoy the video below, the music is not bad either… ;-)
The 6 rules are:
- Ride your Winners
- Cut your Losses
- Manage your Risk
- Use Stops
- Stick to the System
- File the News
Sounds like universal Trading Truths, doesn’t it?
Note: Ed Seykota has been trading automatic trend following systems for over 30 years. His model account grew by over 10,000%. You can find more information on Seykota from his website and in the books Market Wizards by Schwager and Trend Following by Michael Covel.
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