Ed Seykota Bio | Wiki
Ed Seykota (Full Name: Edward Arthur Seykota) is a popular American commodities trader who is the author of The Trading Tribe (2005) and Govopoly in the 39th Day (2013). In 1970 Ed pioneered Systems trading by using recent punched card computers to test ideas on trading the markets. Ed’s first book, The Trading Tribe, focuses on just that, how he manages his “Trading Tribe”.
Ed rose to fame after Jack Schwager wrote about him in his book Market Wizards. In Market Wizards, Jack mentions how Ed turned a customer’s account from $5,000 to $15,000,000 in just 12 years. Despite the fame of Market Wizards, the book was not written by Ed himself. His trading career spans over four decades. Ed has succeeded in trading many markets, such as stocks, bonds, commodities, and currencies. Much of Ed’s success can be attributed to the growth of trading systems that take human emotion out of the equation. His trading style is based on the belief that all markets are random and that it is not possible to build a “holy grail” trading system.
Ed Seykota Age
Ed was born on August 7, 1946, in the Netherlands. He is 77 years old. Ed celebrates his birthday on August 7, every year.
Ed Seykota Height
He is a man of average stature. Ed stands at a height of 5 ft 6 in ( Approx. 1.65m ).
Ed Seykota Family
He was born in the Netherlands but at an early age moved with his family to the United States. Ed holds an American nationality. Ed’s father tried to be a stock trader and finally became the first trading mentor for his son. His dad also gave him a gold-colored medallion, a sales promotion trinket.
Ed Seykota Wife
He lived in Incline Village, Nevada, on the north shore of Lake Tahoe, but recently went to Texas. At the moment, Ed has not disclosed any details regarding his marital status.
Ed Seykota Education
While in high school, he resided in Voorburg, Netherlands, and attended high school near The Hague. Later on, Ed studied at the Massachusetts Institute of Technology (MIT). In 1969, Ed electrical engineering and management degrees.
Ed Seykota Trader
He started his trading profession in the 1970s when he was employed by a major brokerage firm. It was there that he formed one of the first commercialized trading systems for managing money in the Futures market. He went in on weekends to use the IBM 360/65 accounting mainframe to do tests. Ed punched cards and operated batch jobs in FORTRAN 4. Ed managed to do four types of systems on about 50 various parameter sets on eight commodities going back a decade. It took Ed half a year.
Finally, the management of the brokerage company packaged a product around his research. The issue was, Ed’s boss was unable to follow the system and his boss was more focused on souping up the system to generate more commissions. He told them that their best move was to make income for their customers. No sale! Not only that, Ed’s boss denied to give him 10% of the commissions generated from the system. That’s why he decided to leave.
So at age 23, he went out on his own with about a half-dozen accounts in the $10,000-25,000 range. As of mid-1988, one of Ed’s customer accounts—which began with $5,000 was up more than 250,000 percent on a cash-on-cash basis.
Ed Seykota Book | Govopoly
In 2013, Ed published his book titled Govopoly in the 39th Day which explores the history and present dynamics of something much larger than the normal business cycle: the rise of the Govopoly System. Govopoly meant “Monopoly by Government Sanction.” The Monopoly System formally appears in 1913 and starts to assimilate the Free-Competition Sector.
Ed Seykota Strategy | Trading Strategy | Trading System
His trading strategy is based on the idea that markets trend and that one should follow trends in so as to make money. Ed’s trading strategies use mechanical trading rules (backtest) with no human discretion whatsoever. Ed has labeled himself as famous, but this is of course a very wide and vague description.
Ed Seykota Quotes
– If you can’t take a small loss, sooner or later you will take the mother of all losses.
– Systems don’t need to be changed. The trick is for a trader to develop a system with which he is compatible
– Having a quote machine is like having a slot machine at your desk – you end up feeding it all day long. I get my price data after the close each day
– In order of importance to me are: 1) the long-term trend, 2) the current chart pattern, and 3) picking a good spot to buy or sell
– 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
– Trading requires skill at reading the markets and at managing your own anxieties
– To avoid whipsaw losses, stop trading
– A lot of people would rather understand the market than make money
Ed Seykota Moving Average System
Ed got his first trading system based on exponential moving averages. Every evening Ed would go to the local computer service trying to reproduce the results achieved by Richard Donchian. It would go on to be a thrilling tool for technical analysis.
Ed Seykota Net Worth
Ed gets his wealth from his work as a commodities trader who is the author of The Trading Tribe (2005) and Govopoly in the 39th Day (2013). Therefore, Ed has accumulated a decent fortune over the years. Ed’s net worth is $4.2 billion.
How Old Is Ed Seykota
Ed is a 77-year-old who was born on August 7, 1946, in the Netherlands. Ed celebrates his birthday on August 7, every year.
How Tall Is Ed Seykota
Ed is a man of average stature who stands at a height of 5 ft 6 in ( Approx. 1.65m ).
Who Is Ed Seykota
He is an American commodities trader who is the author of The Trading Tribe (2005) and Govopoly in the 39th Day (2013) and pioneered Systems trading in 1970 by using recent punched card computers to test ideas on trading the markets.
Ed Seykota Social Media Account
Twitter – @SeykotaEd