Edward Arthur Seykota adalah perdagang yang hebat dan dikenali juga sebagai lagenda perdagang. Menurut buku Market Wizards, Ed Seykota adalah perdagang yang konsistent mencipa keuntungan, malahan pulangan daripada modal Ed Seykota adalah setaraf dengan pelabur yang berjaya seperti Warren Buffett, George Soros dan William J. O'Neil. Ed Seykota adalah antara dewa perdagangan tanpa keraguan. Antara penyebab utama yang mendorong kejayaan Ed Seykota adalah minat yang mendalam dalam trading yang melibatkan psikologi pasaran dan kawalan emosi. Ed Seykota telah mencipta laman webnya sendiri iaitu Seykota Trading Trible, dalam laman web ini, banyak nasihat diberikan kepada pembaca mengenai psikologi perdagangan yang betul. Menurut Ed Seykota, sebilangan besar perdagang kurang mementingkan psikologi perdagangan, sebaliknya hanya menumpukan pada entry point (beli) dan take profit (jual) untuk menjana keuntungan. Oleh hal yang demikian, menyebabkan ramai perdagang yang tidak konsisten menjana keuntungan malahan ramai yang kecundang.
Di sini, saya senaraikan 40 nasihat Ed Seykota dalam perdagangan saham. Saya tidak mengubah struktur ayat atau menukar Bahasa, kerana risau akan mengubah maksud asal dari nasihat yang disampaikan.
Nasihat 1
“If I am bullish, I neither buy on a reaction, nor wait for strength; I am already in. I turn bullish at the instant my buy stop is hit, and stay bullish until my sell stop is hit. Being bullish and not being long is illogical.”
Nasihat 2
“Fundamentalists figure things out and anticipate change. Trend followers join the trend of the moment. Fundamentalists try to solve their feelings. Trend followers join their feelings and observe them evolve and dis-solve.”
Nasihat 3
“The feelings we accept and enjoy rarely interfere with trading.”
Nasihat 4
“Systems don’t need to be changed. The trick is for a trader to develop a system with which he is compatible”
Nasihat 5
“It can be very expensive to try to convince the markets you are right.”
Nasihat 6
“There are old traders and there are bold traders, but there are very few old, bold traders.”
Nasihat 7
“I would add that I consider myself and how I do things as a kind of system which, by definition, I always follow.”
Nasihat 8
“Systems trading is ultimately discretionary. The manager still has to decide how much risk to accept, which markets to play, and how aggressively to increase and decrease the trading base as a function of equity change.”
Nasihat 9
“Trying to trade during a losing streak is emotionally devastating. Trying to play “catch up” is lethal.”
Nasihat 10
“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.”
Nasihat 11
“Losing a position is aggravating, whereas losing your nerve is devastating.”
Nasihat 12
“The markets are the same now as they were five to ten years ago because they keep changing – just like they did then.”
Nasihat 13
“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.”
Nasihat 14
“Speculate with less than 10% of your liquid net worth. Risk less than 1% of your speculative account on a trade. This tends to keep the fluctuations in the trading account small, relative to net worth. This is essential as large fluctuations can engage {emotions} and lead to feeling-justifying drama.”
Nasihat 15
“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.”
Nasihat 16
“A losing trader can do little to transform himself into a winning trader. A losing trader is not going to want to transform himself. That’s the kind of thing winning traders do.”
Nasihat 17
“If you can’t take a small loss, sooner or later you will take the mother of all losses.”
Nasihat 18
“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.”
Nasihat 19
“Risk no more that you can afford to lose, and also risk enough so that a win is meaningful.”
Nasihat 20
“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.”
Nasihat 21
“Be sensitive to subtle differences between ‘intuition’ and ‘into wishing’.”
Nasihat 22
“The trading rules I live by are: 1. Cut losses. 2. Ride winners. 3. Keep bets small. 4. Follow the rules without question. 5. Know when to break the rules.”
Nasihat 23
“I usually ignore advice from other traders, especially the ones who believe they are on to a “sure thing”. The old timers, who talk about “maybe there is a chance of so and so,” are often right and early.”
Nasihat 24
“I set protective stops at the same time I enter a trade. I normally move these stops in to lock in a profit as the trend continues. Sometimes, I take profits when a market gets wild. This usually doesn’t get me out any better than waiting for my stops to close in, but it does cut down on the volatility of the portfolio, which helps calm my nerves. Losing a position is aggravating, whereas losing your nerve is devastating.”
Nasihat 25
“I intend to risk below 5 percent on a trade, allowing for poor executions.”
Nasihat 26
“I don’t judge success, I celebrate it. I think success has to do with finding and following one’s calling regardless of financial gain.”
Nasihat 27
(On losing streaks and over-trading) “Acting out this drama could be exciting. However, it also seems terribly expensive. One alternative is to keep bets small and then to systematically keep reducing risk during equity drawdowns. That way you have a gentle financial and emotional touchdown.”
Nasihat 28
“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.”
Nasihat 29
“Win or lose, everybody gets what they want out of the market. Some people seem to like to lose, so they win by losing money.”
Nasihat 30
“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”.”
Nasihat 31
“If you can’t measure it, you probably can’t manage it… Things you measure tend to improve.”
Nasihat 32
“The key to long-term survival and prosperity has a lot to do with the money management techniques incorporated into the technical system.”
Nasihat 33
“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”
Nasihat 34
“To avoid whipsaw losses, stop trading”
Nasihat 35
“Pyramiding instructions appear on dollar bills. Add smaller and smaller amounts on the way up. Keep your eye open at the top”
Nasihat 36
“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.”
Nasihat 37
“Our work is not so much to treat or to cure feelings, as to accept and celebrate them. This is a critical difference.”
Nasihat 38
“Before I enter a trade, I set stops at a point at which the chart sours.”
Nasihat 39
“Trading requires skill at reading the markets and at managing your own anxieties.”
Nasihat 40
“The positive intention of fear is risk control.”
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