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Ed
Seykota's FAQ
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FAQ
March 11-20, 2016 <-- back | down | forward --> |
| Contributors Say | Ed Says |
| Mar 20, 2016 Wants to Engage Personal Growth Hello Ed, I hope that you are well. I have heard about the TT and I am wondering how I can learn more about it. I am looking for an environment that fosters some personal growth (have been stagnant for a while). Please let me know how I can learn more and how I may contribute. I live the SF Bay Area, more specifically in the East Bay area. Thanks much, |
Thank you for reaching out to me. You might look in the Tribe Directory, at Resources, above for a Tribe near you. |
| Mar 18, 2016 Resisting Taking Extra Trades Hi Ed, I noticed that I had strong feelings towards taking trades that were not part of my trading plan today. I noticed myself wanting to take these trades but I resisted the urge to do so. I remember at the time I thought about TTP and made an attempt to experience the feeling associated with the strong urge. Later in the day, I gave into temptation and took a trade that was not in my trading plan. I remember that I spent about 5 minutes wrestling with the idea of taking the trade. The 'CM' part of my brain was telling me the trade did not fit my criteria yet I still had a strong urge to trade. I decided to experience the feeling associated with this strong urge and the result was taking the trade. After finally succumbing to taking the trade. I felt hot around my face and chest. Tightness in my neck and chest. I used to feel stupid for doing this type of trade. Now I am just more curious about what the best solution is. Any feedback from yourself would be much appreciated. Thanks, |
Thank you for sharing your process. You might consider taking your feelings about <hot face and chest> and <tight neck and chest> and <stupid> to Tribe as entry points. |
| Mar 17, 2016 TT Website Updates Hello Ed, I'm a petroleum engineering graduate from the University of Texas at Austin. I live in Austin where I am currently working after graduating this December. The reason that I wish to contact you is because I'm curious if you are still updating your trading tribe website. I've come to learn that you, Michael Covel, and Larry Hite are great sources of knowledge and information on the subject matter of mechanical futures trading. If you are no longer updating the information on your website, do you have an organized source of information that could be beneficial to me other than your trading tribe website? Thanks! |
Thank you for raising this issue. You can look around on this site - and, you may also contribute research to this site. |
| Mar 16, 2016 Remote Tribe Report - Deadline It was my intention to miss the Tuesday Deadline for submitting work on my project. It is my intention to submit it now and to submit on time going forward. Best, |
Thank you for sharing your process. |
| Mar 15, 2016 Remote Tribe Dear Ed, I hope all is well with you. Below please find a report from the first on-line Tribe Meeting/Project Lab. Last week we start a first remote Tribe series of meetings with three other tribe members. We agree to do meetings on-line with a focus on accomplishing a project of our choosing. At our first meeting we work out the technicalities and processes and do an introduction of our projects. At first things feel little clumsy and far apart but as we get into the presentations and feedback things start to feel more like a normal Tribe. I enjoy seeing old friends and supporting them. I am excited to do this. Since my experience along your side for many Tribe meetings I notice effortless willingness to just let go and go with the flow. I’ll keep you posted on our experiment! Sincerely, |
Thank you for sharing your process. |
| Mar
15, 2016 Remote Trading Lab Ed, The first meeting of (our) Remote Tribe/Lab got off to a good start. At the time I missed the drumming - but in retrospect - I think it was the sense of connection to the tribe that I missed. I researched virtual drumming that would work in the platform and came to the conclusion that it is not possible. I wonder if listening to some meditation type music might work - or perhaps a few seconds of silence? Second check in round was news, and I started to get hot recalling a visit from family that brought up a lot of feelings and memories around my mother and being her little protector. I have my Rocks ready - but don’t get into it. We move onto lab projects - everyone has interesting ideas that they introduce. Then lab is over and so is the meeting. It took us a while to get our groove on but by the end of the meeting I felt the sense of connection that I missed at the beginning. Afterwards I am wound up and can’t get to sleep for a few hours. Thanks to the Chief for organizing the meeting. Thanks to my fellow tribe members for showing up and getting into it. |
Thank you for sharing your process, |
| Mar 14, 2016 Remote Trading Lab Dear Local Tribe Members Tribe, Over the last few weeks, I create a proposal to establish a Remote Tribe/Lab modeled on the work we do in person in Lab and Tribe. I email the proposal to members of (our Local) Tribe that I feel may be interested. I feel happy, confident and ready to work. I set a deadline for commitments to join and propose a schedule in my email. In the proposal, I outline the General Principles around which I intend to organize this Tribe: - We meet regularly via a web conferencing tool like skype on a schedule that we agree to stick with. - We conduct our meetings in the spirit of our in‐person Tribe and Lab meetings. ‐ We document and report our meetings to FAQ. - We commit to doing the work, following process and supporting one another through rapport, honest feedback and encouragement. - We follow TTP principles and hold ourselves and each other to a high standard. I discus the plans and receive feedback with everyone I share the proposal with. I receive commitment to participate from three Tribe members that choose to join me and we set our first meeting. A few days later, we convene online in a video conference the designated time and begin our first meeting. All four participants arrive within a minute or two of the scheduled start time. Initially we spend some time addressing specifics of how our Tribe and Lab will function and the various issues that seem specific to the remote meeting format. SETTING UP THE NEW MEETING FORMAT: - Members arrive and confirm we can see/hear each other. - Speaking order: We establish and agree to speaking order that emulates seating order at a physical meeting in order to proceed in turn, like we do at in-person meetings. - We review the the proposed meeting schedule and confirm our agreement with the general principals. - We start with a feelings only check - in and some things come up: 1. Check in without drums feels different. One member wants to find a way for us to drum in our virtual meeting. 2. We have a connection issue, one member disappears for a while. While he is offline, remaining members briefly discuss how we want to handle this kind of thing. 3. A member reminds me that we usually have a "street news" kind of check in where we share what we have been up to, working on and the issues that have been coming up for us. He would like to have another check in. - The missing member reconnects and I fill him in on our brief discussion about points 1-3. We agree on the following: - Technical Problems: We establish a protocol for lost connectivity: A. We will all have a redundant devices to connect with. B. If a member is unable to join/rejoin after being disconnected, the meeting continues with remaining participants. C. A member that gets disconnected may follow up with the others after the meeting to catch up on what they missed. - Privacy: We agree that we will use headsets in order to prevent the video conference from being overheard in our respective locations. We are each attended the meeting from our respective homes where family or friends may also be present. We notice that the prospect of being overheard ourselves may be impacting our experience of the meeting. This feeling seems to subside as we get further along in process later in the meeting. - FAQ: We agree to report to FAQ and focus on process and feelings content in our reporting. We agree not to share the specifics of other member's projects to FAQ. - Schedule: I share the proposed meeting schedule. We agree on a sequence dates for meetings, FAQ updates, sharing projects, sharing feedback, "in-person" presentations and "off" weeks. Everyone is clear and in agreement with the plan. - Rocks Process: I share my thoughts on how we might implement Rocks Process in a remote meeting format. We have a brief round of feedback that takes place out of order. A Tribe member asks for clarification on the agreed speaking order and we resume taking turns speaking in accordance with the order we agree to. I feel glad that he addresses this and helps maintain the standards we agree to. We are able to enjoy an orderly sharing/feedback flow for the remainder of the meeting. We arrive at agreement on each of the points we discuss. I feel commitment to the process and a sense of confidence in the process of deciding together. I also feel connection with the members of theTribe as we share our views and feelings and come agreement on the processes we choose. The set up portion of the meeting takes about an hour or so. FEELS LIKE TRIBE Once the administrative discussion is complete we check in again. The second check in feels a lot more like an in-person check in. I get a sense of what each Tribe member is feeling and connect with their issues on an emotional level. There is a feeling of rapport and everyone seems engaged. I check in last and experience a technical problem while checking in. When I rejoin the group a few moments later they tell me that they see me frozen in a form on their screens. Someones says " I was about to tell you to do more of that". We laugh. LAB After checking in, we proceed to sharing our Lab projects. Each member presents their project to the group. Each member of the group provides feedback. The process is as follows: - The presenter presents their project. - Tribe members provide feedback one at a time, in order. - Presenter thanks each member for the feedback before the next Tribe member shares their feedback. - Once all members have shared feedback, the presenter confirms the feedback he has received. The presenter confirms the feedback one Tribe member at a time, first , by repeating the feedback he receives form that Tribe member and then, asking if he has captured the feedback correctly. - The Tribe member who gave the feedback has an opportunity to clarify. - The presenter thanks the Tribe member then moves on to confirming feedback with the next Tribe member. -This process repeats until all feedback has been confirmed. The presenter thanks the Tribe for the feedback and then the next presenter begins. I feel really surprised and pleased with how efficiently we execute this process and how automatic the process feels. The efficiency and familiarity I feel with the process makes it easy for me to feel the underlying feelings connected to the presentations and really connect with the presentations. There is consensus within the group that the process works and we each comment on our experience with the process and noticing that feelings are coming up. CHECK OUT After we finish with Lab presentations and feedback, I notice that I feel like I am "with" the other Tribe members and nearly forget that we are not in the same room. The feelings that come up in Lab are palpable for each of us. Someone comments that they feel like we are in the same place. Someone else comments that it feels like an in person meeting. We seem to all be experiencing and noticing similar feelings. It feels familiar and cohesive. It feels like having rapport as a Tribe. We take turns checking out. I feel a sense of gratitude towards our Tribe and a feeling of satisfaction and surprise as I reflect on how quickly we are able to develop rapport and acclimate to the new format. I feel motivated and supported. In summary, it feels like a great start with room for improvement. |
Thank you for reporting on your process for running a Tribe meeting from remote locations. |
| Mar
14, 2016 Wants to Attend a Workshop Ed, I am interested in your workshops, and I am willing to travel to another area to attend. Please contact me if there are any workshops in the near future. Thanks, |
Thank
you for raising this issue. I generally announce Workshops via this site. |
| March
14, 2016 Wants to Study Models and Systems Good Afternoon Mr. Seykota, I am writing you to ask to join/attend your Trading Tribe in Austin to continue my journey in the study of models and systems. I began my study of trend following as a junior high school (2008) via (The Turtle Traders/Way of the Turtle/Trend following) where I first learned about your success. Today, I am stationed in San Antonio as an Air Force Officer. I look forward to hearing from you on how to begin the journey. Sincerely, |
Thank
you for reaching out to me about models and systems. I occasionally host a series on system design. |
| March
14, 2016 Syndney Tribe Update I attach an updated document for the Sydney Tribe, which reflects the changes we make to the tribe. We plan to resume meeting in April 2016. Regards, |
Thank
you for updating your TTID - Trading Tribe Information Document. You may find it online at the Directory, at Resources, above. |
| March
13, 2016 Tribe Meeting Report - Personifying Feelings / Pain in the Neck Hi Ed, Thank you for hosting the Tribe meeting. I hope you are recovering well from your operation. I arrive at the meeting feeling tired. We check in and go through a couple of processes. I get a sense that one process is only going half way, and this is confirmed by another Tribe member who is playing the role of a Hotseat’s feeling. I do not have a memory of a Tribe member role playing a feeling. The Tribe member gives voice to the Hotseat’s feeling. Part of the process is about “getting it wrong.” I mention the process only seems “half way” complete and offer a way forward. The process manager manages the process and offers guidance. I get it right about the “half way” and I get it wrong about how to move forward. The process moves forward and the Hotseat sticks with the process and gets results. The Hotseat offers powerful insight on finding a way forward by “getting it wrong” all the way until right up to the point he gets success. I feel emotionally invested in all the processes and drained after the first two processes. I have a slight pain in my neck. The Tribe works with me and I learn the pain in my neck is a feeling indicating that I’m holding back some feelings I need to share—some things I need to say. I am grateful for the Tribe, the process manager, and the Tribe member that role plays my father-in-law. I gain a lot of insight. The Tribe notices I’m expressing some forms. I feel exhausted and appreciate their willingness to conduct an inventory. I’m not willing. We don’t have an agreement to conduct an inventory and we make an agreement to conclude my process. I notice that I have an issue not wanting to feel “hate” or the feelings I associate with hate. I make a note of the feeling “hate” as a new entry point. During the last process, I feel tired and am having a hard time focusing. I feel a sense of relief that another Tribe member is managing the process. The Hotseat goes for it, and we all contribute to the process. It is a 9-rock process. The Hotseat takes a big step forward. Today: I meet with my father-in-law and mother-in-law. We share feelings. I stick to the feelings. I gain some insight into their process. No drama. I notice there’s no pain whatsoever in my neck. |
Thank you for sharing your process. |
| March
11, 2016 Tribe Meeting Report: On Getting In - and Staying In Ed, First of all, thank you for holding the Tribe meeting and thank you to the Tribe for supporting each other. The processes you run continue to amaze in their fluidity and efficacy. I have a cluster of issues that need work around not trusting myself and my play. This cluster of issues manifests in two primary ways -- missing plays and cutting profits. The essential exit rules of trading are to let profits run and cut losses. I have improved my game on cutting losses run by using stops, but my improvement on letting profits run has been much slower. Similarly, on the entry side, two related areas that need work are missing plays and playing against direction. I have improved my game on not playing against direction but my progress on missing plays has been much slower. These are the issues I take to the Tribe meeting. At the meeting one of my fellow tribe members begins working on an issue that is seemingly unrelated to my issues but during the course of the process it becomes clear that the feelings I am unwilling to feel are the same feelings that he is unwilling to feel---the feeling associated with getting it wrong. As I feel a great sadness come over me and know this is true and can see the connection. Being willing to feel the feelings of getting it wrong restores some balance in my universe with the feelings of getting it right. They are the same path. I am now working on developing an awareness of, and creating a better working relationship with, that part of myself that tries to keep me from feeling the feeling of getting it wrong. By making it ok to feel those feelings I can now take the actions that are called for by the market rather than those that are called for by that part of me that was unwilling to feel the feelings associated with getting it wrong. Thank you, |
Thank you for sharing your process. |
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