Е Ed Seykota, 2003 ... You may not reprint without permission.

Ed Seykota's

Frequently Asked Questions

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Workshop

 

 

July 27-31, 2003

 

Questions

(Quotes from Ed in Red)

Answers

Wed, 30 Jul 2003

 

Trading Tribe

 

Hello,

Wanted to join a trading tribe. Noticed that there was none in my area, so I'd
like to start one here.

 

 

Welcome

Chicago!

 

You are now on-line

on the

Tribe Directory Page.

 

 

 

CBOT

 

Clip: http://www.thetasys.com/

trading/img/t-bond-cbot.jpg

Wed, 30 Jul 2003


TTP



I wish to attend October TTP workshop. I asked to pay by credit card for convenience and didn't get your answer, which is an answer in itself.

 

Would like to be there and organize it prior to leaving to Europe for a month. If you could please be kind enough to respond.

 

Thank you in advance.

Respectfully,

The Workshop enrollment process (see Workshop page) expects applicants to exhibit some skill at following instructions, and willingness to do so.

 

You might have a look to see if you have drama in the area of following rules, keeping agreements, looking for loopholes, special cases, etc ... and if this shows up in your trading.

 

 

A Cloth Badge

 

may evoke very different feelings

for different people.

 

Clip: http://www.dovertwppolice.com/

NYPD-NYFD/salute.htm

Tue, 29 Jul 2003

 

Turtle Trader Course

Hello Ed -

 

I read about you 10 years ago in Jack Schwager's book.


Question....

Will the Turtle Trader course allow me to gain mastery over the "basics of
trading"?

 

I am not well versed in the markets.

P.S. Do you play golf and if so, do you find the mental aspect of golf to parallel trading?

If all you need to become a good trader is permission, you can likely give that to yourself.

 

Perhaps there is much more to golf and to trading than just the mental aspect.

 

 

Looking for Parallels

 

with mind and with psyche

 

Clip: http://www.datacraftuk.co.uk

/fun/illusion/images/parallel.jpg

Mon, 28 Jul 2003

 

Using trend following to catch terrorists

Hi Ed,

According to a story  that I saw linked on
Drudge, the defense department is allowing people to bet on future terrorist incidents.

"Defense officials said the market-based system is highly accurate when
assessing such things as political and civil stability, economic health and military disposition of Middle East countries. "

The DoD is using trend following to try and figure out what terrorists are going to do.

Futures markets evolve naturally, in the free enterprise system, to provide a way for people to transfer price risk.

 

A government agency, allowing people to bet on incidents, seems like a critter of a different howl.

 

I am not quite sure what risk this market transfers, what delivery specifications might define the contracts, or if a market for such a market really exists.

 

 

Coming Soon

 

a market that allows you to bet on where a ball lands on a spinning wheel.

 

Clip: www.reagan.dk

Mon, 28 Jul 2003

 

Beliefs

 

Buying and selling are part of the external physical world of trading.

Feeling of fear and loss are part of your internal world.

When you buy or sell or hold, against the rules of your system, in order to accommodate your feelings, you are acting out a drama for Fred.

Fred intends for you to feel your feelings, even if Fred has to set up dramas to get your attention.

One of the intentions of TTP is to experience your feelings directly so Fred does not have to set up dramas to interfere with sticking to your trading system.

One test of being at peace with your trading system: notice how you feel about sticking to it.



I do this test and the funny thing that I realize is that I can't be at peace with a system that is not trend following in nature.

OK. Nice insight.

Mon, 28 Jul 2003

 

Workshop

Hello Ed.

I am very interested in attending the workshop. I understand how important psychology is to profitable trading.

 

Before I commit, I would like to know if I can discuss advanced money management, timing, and other aspects of long term trend following with you before, during, or after the workshop.

 

I am willing to pay extra for your advice on these topics. I can arrive earlier or stay later. Whatever is best for you.

Thanks,

You may ask your questions during the Workshop. There is no extra charge.

 

If want to learn secrets, I would advise you to look elsewhere, perhaps at your music dealer.

 

 

Listen, do you want to know a secret

 

do you promise not to tell.

 

Clip: http://www.eskimo.com/

~bpentium/beatles/secret.jpg

Mon, 28 Jul 2003

 

Workshop Registration

 

Ed,


Hello, you have a very informative and inspiring website. I have been trading off and on since I was 18 (now 22) without a plan, money management etc.

 

It's had it's moments of glory and also disaster. Having gained 40% in less then a month of trading, then watching it completely reverse, and lose further, I am tired of making all the mistakes of the common trader.

 

I wish to develop a plan, a philosophy, and the information on your website rings true and true with me.

 

This being said, when I discovered you had a workshop, my excitement could hardly be contained.

 

I have studied trend following, turtle trading extensively, and wish to employ it as a stand alone system.

 

I notice you have quite a loyal and informed following on the faq / message board.

 

Would this workshop be appropriate for someone like me, new to the system, and your website?

 

If so, I would like to register immediately. Thank you much for your time.

FAQ does not endorse traders or commercial products, including the TTP Workshop. 

 

You can find a description of the workshop, including how to register, on the Workshop page, and determine for yourself if it is appropriate for you.

 

There is no such thing as a stand alone system, as long as you have any feelings that might motivate you to change your behavior.

 

 

The Cheese Stands Alone

 

until Fred, the friendly mouse arrives.

 

http://wandererphoto.com/images/

Food/OLCheeseAlone.jpg

Sun, 27 Jul 2003

 

Questions



Ed,


I am doing other research into specific new markets / exchanges. I haven't invested in before, but do I need to do any further research on trend following, besides the Turtle rules?

 

I must ask also, do you have an opinion on www.turtletrader.com  ... they seem like a good resource. I am just now discovering your excellent group and site.

 

Thanks very much.

FAQ does not endorse  traders or commercial products, or offer instrument-specific trading advice, or recommend specific trading system parameters, or tell people what they should do

or publish the identity of contributors. See FAQ ground rules.

 

www.turtletrader.com offers a  wealth of information on all kinds of trading systems and traders, in a positive, professional, supportive way. 

 

FAQ does not tell you what you need to do --  if you need to do any particular research.

 

You might address specific questions about www.turtletrader.com to, well, that site.

 

 

Turtles

 

Many hatch and some survive.

 

http://www.bearst.com/kosen/

images/turtles.jpg

Sun, 27 Jul 2003


TTP Workshop

Ed,

I was wondering if you are still planning to write a book on TTP? If you are, would you know when it might be made available to the public?

I plan to write a book, likely to include some of the experiences from the October workshop as examples.

Sun, 27 Jul


Discretionary Trades


My speculative method is good. It is a good trend following system. I am pleased with my method and my self.

I see a chart that looks like a good opportunity. The price behavior does not fit my trading rules. I have discipline. I do not trade. I feel uncomfortable. I feel uneasy. I feel something is not right.

I feel I am a boy and my father is scolding me for wanting to do something that is forbidden. I feel my mother screaming about all the money I lost.

I feel the need to explore new trading ideas. I feel the need to grow as a trader.

I am disciplined. I follow my rules. I will not make exceptions to my trading methods. I test my trading ideas by simulation before risking real money. I do not take the discretionary trade. I feel bad. I feel disappointed. I feel this is a good opportunity.

I am a little confused.

The feelings of being scolded, doing something forbidden and being confused may arise regularly in your trading.

 

To the extent you can hold these feelings as allies and allow them to speak to you, they can support your trading

 

Otherwise, you might find Fred setting up expensive dramas for you that lead to having to feel these things.

 

 

It's OK to feel confusion

 

and to make money

all in the same moment of now.

 

 

Clip: http://www.asu.edu/clas/english/

advising/careers_index.html