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Ed
Seykota's FAQ
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Jan 28, 2018
Trade Paralysis
Dear Sir,
I wonder if you will spare me a moment of your experience.
In
my 20's I lost money I could afford to lose in the stock market.
Typically through inadequate research and swinging for the fences.
Now
in my late 30's and once more having a little money I can afford to
lose I entered the highly speculative cryptocurrency market.
Having lost before I knew to be cautious. Due to incredible
market growth I quickly and easily trebled my money and withdrew my
initial $1000 investment. I now have $6000 in a crypto asset I
believe in and have a reasonable belief that this position can grow to
$50,000 if able to sit on my hands for a couple of years.
I have a further $1000 to trade with. My problem is that I have trade paralysis.
After having done well in a market in which it was nigh impossible to
not make money, I see the speculative market as overvalued ... although
I admit that it will rise significantly further yet. I miss the trading
buzz and have a target of $100,000 in order to attain an amount of
money that would make a difference i.e. payoff mortgage/retire early.
I
have a twofold fear (1) My psychology is not sufficiently committed to
winning to put in the effort required to build confidence in new
positions (2) a suspicion that one does not deserve to win (why should
I have clean water yet alone deserve to retire early).
I
would appreciate any comment or question on the above but ask
specifically for your thoughts on how to reconcile ones emotions (fear,
uncertainty) with what one observes (specific trades believed likely to
succeed).
I hope you are in good health and happiness.
Sincerely,
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Thank you for sharing your process.
In
TTP we hold our feelings as having positive intentions. The
feeling of <trade paralysis> might intend for you to stop trading
- while you still have handsome profits.
You might investigate this further by taking your feelings about <trade paralysis> to Tribe as and entry point.
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Jan 26, 2018
Meeting Follow Up
Hi Mr. Seykota -
I
Thank You for the time we spent together. The experience was exactly
what I wanted - even though disappointments were long the path.
But I've learned a great deal from them and can now move forward from
here. The shake up has inspired me now that the shock has worn
off.
You're generous, insightful and just plain fun to hand around with and talk to.
I look forward to seeing you again - and doing some shooting and banjo picking together.
All the best,
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Thank you for sharing your process and for acknowledging me.
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Jan 25, 2018
Giving Up On Drugs
Hi Ed,
This is a pretty long email.
I'm currently with my psychotherapist again. A couple months ago when I write you my email and I agree not to take any drugs.
I
go back to [City] and my head really starts to hurt like kigranes I
never felt before and I start crying for no reason. I then put myself
to sleep. An di sleep for most of the day.
After a couple of
days I had a dream that I was really in a blur and I smoked some pot in
my dream. When I woke up, I felt like "damn, I promised Ed I wouldn't
smoke" and it felt that way even though I didn't take any drugs. I
think I'm getting to the point where my sensitivity is getting too
much. I took three puffs of a cigarette one time and almost felt
anxiety that I used to feel when I smoked tons of weed.
Since
then I haven't been able to get up during the daytime and I've been
staying up at night. Now I am back in [Country] and it's getting
better. I went to see my psychotherapist and then I started crying and
the tears come out and my headache/migraines come back.
Then
he tells me to go walk to get back into my body. After a walk in which
I cry and then I start thinking too much (it was a three hour walk), I
eat dinner and then go to an orphan center.
There I see a
little girl that and I sense that she knows that I will leave again. I
ask a lady who could read akashic records what my role was in that
orphanage, and she says that to them I am a dream and that they love
me, but I also leave them which leaves an imprint into their souls that
they're not good enough.
And as this little girl is
practicing her performance with the other kids, I start crying again.
Thinking about the life she will lead when she is older and having
relationships. And I think about how [ex Girlfriend] was the same way
and you noticed her pattern.
And then I also start crying
for myself because supposedly I am in my Saturn return and I get to see
beyond the matrix during this time, whether with clairyoants or
astrologer or even shamans and healers or whatever. I know there are a
bunch if them but not all are created equal.
And the past
two year and a half since I saw you I've been working with a healer and
shaman and this lady who reads the cards but I'm don't want them to
leave me, but I know they will just like the little girl know I will..
I feel like crying now. I'm sitting by myself in my room in a my
parents magical resort where I've supposedly accrued a lot of karma and
I'm teetering in schitzophrenia.
I do no drugs, even
though you often think that I do and I'm 29 years old going on 30 this
year and I haven't done much with my life, I've taken a lot and haven't
given much back. I'm too spoiled and I get what I want most the time
but it's ending soon.
I try to talk to my psychotherapist
today with what I'm dealing with but he's busy and can only see me on
Saturday. I remember reading one of your posts in which a person opens
a can of worms by doing the work but leaving the person in a state of
distress after TTP, It was an older post from ten years ago, I'm
guessing when you still had the old format. I'm thinking if this
therapist is doing the same to me.
How do I change the imprint in someone's soul? I think TTP but I need practice and a Tribe leader.
And
I've been lucky to get in touch with you and having you read my emails.
I worry that my subconscious programming will kick in if I continue to
peel the layers...
On a side note I need to get married this year.
Hoping to keep you in my life and make enough money to see you again,
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Thank you for sharing your process.
As feelings come up, you have an opportunity to write them down and to share them with your friends and with your therapist.
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Jan 24, 2018
Wants Help Going Crazy
Hi Ed,
I think I'm going crazy I need your help.
|
Thank you for reaching out to me.
If you already consider yourself crazy, I don't know what else I can do for you.
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Jan 20, 2018
Wants to Join the Austin Tribe
Hello Ed,
I
would be very interested in becoming a regular attendee of your Tribe
here in Austin. I've studied your work carefully and would be honored
to be able to attend. Thank you for sharing your wisdom with us.
Have a good weekend.
Best,
|
Thank you for showing interest in the Austin Tribe.
I can take a look around and see who else might like to play.
For now, I wonder if you might like to send me a one-page essay on "How to Conduct an Intimacy-Centric Relationship."
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Jan 17, 2018
Embracing Volatility
Ed,
I embrace volatility, and I choose to enjoy and experience disliking the drawdowns that come with it.
Before, I do not hold onto positions, even they drop a fraction of a handle.
Now,
I have feelings of annoyance when my system signals me to do another
add-on. I want to just get long, and not look at anything.
I vomit and puke so much less now, even when a huge giveback
comes. The drawup shows an even bigger magnitude at a faster rate
- and makes me not want to look at the trading screen even more.
I
get a signal today to pyramid cotton for the 15th time. I do the
add-on, turn off the trading screen, and I go have fun with friends and
eat something really great. I really enjoy not staying in front
of the screen. I now read books often.
I finish #1 for
the month of December for a performance reporting database. With
the current month performance, I might finish #1 in January, as my
returns currently exceed that of December.
I choose to
experience my one-way ticket snapshot from more than a decade
ago. April is not now, but I choose to make it come true.
I
am late. But I am right on time. I make it this way, and it
doesn't have to be this way. Now I make things happen now instead
of procrastinating. I make strong commitments to my girlfriend,
and she is so excited that she cannot believe it's true.
She
feels I'm different now than from years before. I feel
different. I don't know why my trading performance shows
remarkable improvement.
Do markets increase my luck factor because it goes one way recently? Or does my commitment level increase my luck factor?
Either way, I do a really good job embracing volatility, and thank you for your continuing support.
Sincerely,
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Thank you for sharing your process.
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Jan
17, 2018
Workshop
Dear Ed,
I've seen you mentioned in one of the FAQ answers, that you are
planning to organize TT workshops in Austin, early 2018.
Have the timing, venue, pricing and other details already been
confirmed?
I tried to search for info on TT website, but I couldn't find anything.
Thanks and best regards,
|
Thank
you for asking about the Workshop.
I have no definite plan as of this moment.
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Jan
16, 2018
Wet and Dry
Hi Ed
All is going well for me. Hope you are doing good too.
Since our visit I've noticed these improvements. Reduced trips to
urinate by appx. 35%. Reduced mouth breathing appx. 85%. Cut pill dose
down to half a pill - twice a day, instead of whole pill twice a day.
This is great because I no longer need to put Vaseline in my nose due
to it being dry from Rx medicine.
My mouth, ears & eyes are not as dry either. So between the
urination reduction & mouth breathing reduction, very
good improvement.
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Thank
you for sharing your progress.
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Jan
15, 2018
Workshop - in
Spain
Hi,
I would like to ask you when is going to be the next TT
Workshop. I am interested in participating in a trading tribe
meeting.
Is there any Trading Tribe in Spain?
Thanks and looking forward to hearing from you.
Best regards,
|
Thank
you for asking about the Workshop.
I can host a Workshop in Spain if you can come up with between 12 and
18 attendees.
Además, podemos presentar una parte del taller en
español, si lo desea.
You can consult the Tribe Directory for Tribes in Spain - and you may
also start one of your own.
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Jan
14, 2018
Psychology
and System
Ed,
I am writing to continue “Parameter Optimization & Portfolio
Selection” in FAQ (10/25/17)
Thank you for your consideration of my professional development and
your feedback to help me improve. I smile as I read your post
many times and think about how I will implement your feedback in my
trading and professional development.
What I take away from your feedback:
1) the steps behind security selection and my personal system (heat
level, commitment etc) are more important and impactful than trying to
optimize the last bit out of return through Python or C#
2) Specifically I should focus on identifying my process for selecting
cryptos & how I do that again
3) You don’t understand why I include time of draw down in the
denominator of bliss as it already has a time component in the
return/numerator.
4) I consider your Tribe ARs seriously: learning a new language,
finding the perfect system and letting go of relationships.
Security Selection (Potential New Systems)
My process in selecting cryptos as a sub-system:
1) look for instruments with large potential payoff. With
Bitcoin large potential payoff simply means that the bull market
continues (bitcoin has made no new 3 month low in the last 2.5
years).
I find the bull market most visible by looking at a long term log chart
due to the huge return and volatility, which can obscure the upward
movement.
2) Thinking about my process one thing I notice is that I accidently
select the feature of disruption in Bitcoin. But this
disruption of where/how services are delivered seems important because
it is in common with the biggest monster trades of the last decade:
Apple phones take on computer functions, Netflix mails DVDs, Amazon
delivers IT over the cloud, Bitcoin currency is created and used
without gov’t permission.
Ex ante v Ex post “discovery” of disruption opportunities is
problematic. But I think disruption with trend following the
number of opportunities is more manageable.
Also in considering potential instruments, some “+” factors,
Antifragility is a plus, Govopoly- either going with the flow or
limited but effective resistance (ie bitcoin) is a plus; liquidity is a
plus.
3) try trend following sub system parameters and look for negative
correlation of monthly returns with both total system monthly returns
and existing sub-systems monthly returns
4) optimize new sub-system parameters to get higher return and lower
draw down and correlation
5) tinker to see if new sub-system fits well with existing total system
and adjust the heat of all sub-systems to find the right portfolio
mix.
(It's really #1 and #2 I focus on for finding sub-system
adds, #4 and #5 are just what I do to optimize but if I have poor
results from those optimization and tinkering steps then I either trade
with the low heat the system defines or throw out the new sub system
entirely if the added return or lower drawdown are not significant
enough for trading costs and extra time.)
I have 2 sub systems in planning that could be good fits for “the next
monster trade”: Commodity Volatility (vega trading through options) and
Interest Rate Spreads.
Both of these systems are ones that could be profitable under
increasing “Govopoly” as the regulations and excessive debt creation of
the state will likely cause more volatility, especially in debt based
instruments and across countries, so they could meet the large
potential payoff requirement.
Government control of interest rates could be disrupted in a small way
through a new inflationary cycle. For #3-5 I believe they
both should be uncorrelated with most of the other sub systems I trade
(there may be some correlation with my existing sub-system long term
bond futures – I plan to mimimize this in system development step
#3). I work on these potential sub-systems now in Excel and
will deprioritize the mathturbation of optimizing through Python or
C#.
Security Selection (Optimization in Cryptos)
The bull market in cryptocurrencies continues. Maybe the next
monster trade is the same as the last monster trade? I make
no changes in my Bitcoin system except to drop GBTC and trade futures
as they launch in Dec, I tweak my alt coin system and add a “venture
capital” ICO approach (work in process).
A) I continue with my long term trend
following Bitcoin system
B) I back test and optimize my all time
high stock system for use on altcoins (cyptos other than
Bitcoin). My testing shows alt coins have similar price
movements to the lower cap stocks I trade successfully with this system.
C) I consider ways to add uncorrelated
return streams and one thing I remember reading is that traditional
venture capital return (ie pre-IPO investment) is slightly negatively
correlated with S&P returns over long periods. In
addition I find data that shows first day IPO performance during the
internet bubble expanded significantly. “In
the 1980s, the average
first-day return on initial
public offerings (IPOs) was
7%. The average
first-day return doubled to
almost 15% during 1990-1998,
before jumping to 65%
during the internet bubble
years of 1999-2000.” (“Why Has IPO Underpricing
Increased Over Time?”, Loughran, Ritter 2002). Though
cryptocurrency ICOs (Initial Coin Offerings) have fewer intermediaries
than 90’s internet IPOs similar market conditions exist in
cryptocurrencies today.
It is possible that pre-ICO or ICO returns could offer large returns
and also have negative correlation with cryptocurrencies (my steps #1
and 2). If this is true I would be able to optimize in
cryptocurrencies by using a small portion of capital as my own personal
venture capital firm (with trend following). I seek to take
small positions in ICOs that are most popular (the trend following
aspect) and then upon ICO launch trade the coins within my alt coin
system. If the boom in cryptocurrency securities is similar
to the boom in internet securities then it is likely that there will be
a couple homeruns (ie Amazon) and many strike outs (ie
Pets.com). I work to define system (steps 1-5 above) start
small and track return and correlation of returns.
Bliss (or RRO)
I poorly explain my personal version of a bliss calculation.
Allow me to take another try. First maybe “bliss” is the
wrong name for what I’m doing because using time in the denominator
destroys the earn-back frequency output of bliss as you pointed
out. Instead of bliss lets call it RRO (Return/Risk
Optimizer). I’m using this RRO function to optimize portfolio
selection and heat.
A) The premise for including time in the denominator of RRO is that I
believe trading failure can come through either hitting the uncle point
from the depth of the draw down or hitting the uncle point from length
of draw down.
An extreme example for depth of draw down: 80% loss from portfolio all
time high and the trader exits trading or switches systems just before
things begin to turn around. An extreme example for length of
draw down: no new high for 8 years such as Dunn Composite Performance
from '04-'12 see Dunn Composite Performance at https://www.trendfollowing.com/performance/
In Dunn's personal case he "rode the bucking bronco" as he said and
continued trading successfully, but I wonder how many customers got
bucked off and exited Dunn during that 8 year bronco ride to a new
high. I wonder if I trade his system if I can stay on the
bronco for 8 years without a new all time high… and my stomach feels
tight and a little queasy. I believe including time in the
denominator acknowledges that time since an all time high plays a
factor in the trader's willingness to commit to his or her
trading.
B) Using time since all time high in the denominator of RRO makes a 2
dimensional simulation of the "lake" of the draw down by creating a
rectangle with "width" as % draw down and "length" as time of the draw
down since the last all time high. I'm not sure how best to
represent this mathematically but in my calculation of RRO at a total
system level I use: (CAGR%/((max DD%x2)+max months of DD)) where max
DD% is a negative number and max months of DD is a positive number.
The result is a number I try to optimize (higher is better) by
adjusting system variables including instrument selection, sub system
heat, number of individual positions, total heat allowed,
etc. This is just the formula that I use which suits
me. I believe there are individual differences in sensitivity
of % and time for each trader.
C) In addition to uncle point considerations if the trader is
optimizing for their feelings (including trading willingness) and they
feel better the shorter the draw down, then including time in the
denominator may allow the trader to choose system parameters that
minimize both draw down depth and length and better optimize for the
trader's feelings. The amount of feeling preference for draw
down length vs raw CAGR/DD% preference can be adjusted by adding a
factor to either DD% or months of DD.
D) If return is y axis and time is x axis, using % draw down to budget
subsystem heat allows for something I think of as “amplitude matching”
of subsystems to minimizing the total system % drawdown. In
the same way I believe using length of time of draw down (since all
time high) to budget subsystem heat can allow for “frequency matching”
of subsystems to minimize the total system length of draw
down. Control over frequency is less direct than amplitude
and I think more useful at a total system level (not subsystem as
frequency optimization would require many parameter changes), but
including it when evaluating the heat weighting of subsystems I
believe, minimizes the amount the trader can stray from their
individual time preference. If there is a 30% CAGR subsystem
that makes new highs only every 10 years on average and a 25% CAGR
subsystem that makes new highs every 6 months on average both may be
traded but including draw down time when budgeting heat will move more
heat budget to the latter system. Maybe all this is simply
part of my “mathturbation” - or maybe this does help me as I
believe. Please excuse my imprecision. I really
want to show a mathematical proof; however, I don’t know the math to
show this accurately and so I try to explain it in my very theoretical
and imprecise tinkerer terminology.
Trading Tribe
Of the Trading Tribe ARs you give me the one that resonates is Letting
Go of Relationships. I sigh. I feel I have no
skills to address this and so no chance at success through any kind of
DIM. I don’t quite understand the other 2: Learning a
Language – I am definitely fearful about this but also willing and able
to pull the trigger. I feel a tightness in my shoulders when I think
about it, which is very similar to trades that don’t feel
good. I pull the trigger anyway. And I will
eventually pull the trigger to learn a language but your feedback on
“the next monster trade” is compelling and urgent.
Finding the Perfect System – this seems to me like the ultimate,
never-ending, always-fun puzzle. I’m looking for “my perfect”
– that highest return for the total heat and draw down (and length of
draw down) that I’m willing to take and still sleep good at night
level. I have relatively few issues trading my systems (small
mistakes), I’m having a good time, and it feels like trading could be
right livelihood for me.
But even if I don’t agree or don’t understand your suggestions about
the language/system Tribe entry points, I know you are right about
letting go of relationships. At this point there are no
tribes within 3 hrs drive of me (and the one 3hrs away doesn’t appear
to be active). I know I have the option to start a Trading
Tribe and yet I am hesitant to commit to this. I am skilled
at managing people but my experience is very different than tribe;
primarily I simply create the right incentives and help people solve
specific problems through creative thinking and logic. I have
little practice in accepting and understanding extremes in people’s
emotions – if anything this is a weakness for me. I feel the
chief would need to be a better role model than I could be and if I do
go forward with starting a tribe I need to recruit someone better than
me in this skill to be the leader.
2017 Results and New Year Commitments
For 2017 I achieve 120% return,17% max draw down. Roughly the
return is 80% driven by cryptocurrency (despite this being <20%
of the portfolio), 10% futures (mostly seasonal; reg. trend following
was ~flat), 10% stocks (this is 2x S&P return on my stock
allocation). The year is life changing and I eliminate any
reasonable doubt of not having financial freedom. I have
realistic expectations for future return and I don’t expect a
>100% return again unless there is a melt-up/down in all
commodities or cryptos continue their upward trend at the same rate.
The 17% draw down does not reveal my daily volatility - many days I am
up or down >2%, though the weekly and monthly results are much
smoother. Trading aggressive instruments with high
heat/instrument but medium total portfolio heat is working well at the
portfolio level for both return and for my sleeping at night as I am
now used to the daily volatility. I look forward to 2018 and
commit to trading with greater accuracy (I make mistakes on a handful
of trades in 2017), completing the new sub-systems under consideration
that I mention above (ICO, commodity vol, interest rate spreads), and
expanding my trading network in the Seattle area to ultimately test
willingness of potential Seattle area trading tribe leaders.
Please continue to coach me and give me your feedback.
Thank you Ed!
I am grateful for your help!
|
Thank
you for sharing your process and for raising several issues.
Roughly speaking, we might say:
R <--
P * S
Where R (0-100) stands for your trading Returns, P (0-10) stands for
your Psychology and S (0-10) stands for your system.
Now if you already have a ninety-percent (9 out of 10) System and if
you have a thirty-percent (3 out of 10) Psychology, you have a 27%
Return.
You might notice that if you work really hard on your System you might
get it from 9 to 9.5 and get your Return up to 28.5%.
If you work on your Psychology and get it from 30 to 75 you
might get your Return to 67.5%.
You might consider taking your feelings about <needing
a leader> and <running away from your feelings and into
complexity> and <this is no ordinary bubble> to
Tribe.
|
Jan
14, 2018
The Art of
Receiving
Dear Sir,
I recently met someone and I explained TTP Ideas to him. He said when
he listens to someone else negative feelings he gets involves with the
senders negative emotions.
For example when his girl said the movie they just watched is not good,
he gets angry. He then tries to analyse her feelings, and advises her
to not to feel this way.(which I know is not the right thing to do). I
said let her express her feelings and said him just acknowledge her
feelings with psychical forms.
However, I was clueless what to say to him about his anger and
resentment being built up when he receives. Could you please help me on
this?
I used to be the same like him before I heard about the TTP. I have
noticed. Thesedays, I still get occasionally resentful specially
towards personalities that project their anger, jealousy, and try to
attack and punish me for their negative feelings.
Is this something that you experienced at the beginning on your path to
become a great receiver?
What helped you along the way?
Thank you Ed
Your help is greatly appreciated.
|
Thank
you for raising these issues.
In TTP, we do not hold feelings as positive or negative. We
hold them as valuable resources that aim to help move us toward right
livelihood.
When you hold the feelings of others as gifts, you might even find them
fun to receive.
To develop your skill as a receiver, you might consider practicing a
lot and also surrounding yourself with other good receivers.
Also, you might consider taking your feelings about receiving to Tribe
as an entry point.
|
Jan
11, 2018
Wants Method
Hi Ed,
I wonder if you are able to share the filters you apply to obtain the
list of 'strong' and 'weak' trending stocks listed on your website
here:
http://www.seykota.com/TT_Chartbook/
stocks/Default.HTML
Thank you.
Kind regards,
|
Thank
you for asking about my ranking method.
In my way of speaking, a "filter" identifies objects that meet
criteria, such as "MA_1 >= MA_2, while a "ranker" generates a
flat list of objects in order of some property, such as "(MA_1 -
MA_2)/MA_2."
In any event, I do not publish, sell or otherwise share the particular
method I use to rank stocks on that page.
Nor does this site provide specific trading advice. See
Ground Rules, above.
Publishing the method would invite people to "believe in" the parameter
set and use it to trade - perhaps without proper risk control.
System vendors might even go out and try to sell it as Ed's secret
formula.
|
Jan 4,
2018
Life Above
the Speed Limit
Ed,
happy new year! Hope yours is off to a great start and that your
holidays were pleasant. We took a ski vacation to Switzerland and had a
blast. Conditions were perfect.
Remember my song? A friend of mine recently added base and electric to
it. What do you think? Do you think it would be worth it to have it
professionally recorded and if so, what does something like that cost?
The
Song
Best,
|
Thank
you for sharing your song.
You might consider pushing the vocals a bit higher and cutting back a
bit on the bass.
These days, you can find lots of music production resources on line,
for free.
|
Jan 3,
2018
50/50 Chance
of Nearing a Top
Mr. Seykota,
it seems to me, but not resting upon a completion of a system-tested,
that in my world (eg the MWI-multiple worlds interpretation of quantum
mechanics) it seems 50/50 nearing a top.
|
Thank
you for sharing your insights.
In a run-away bull market, you have a new top almost every day.
|
Jan 3,
2018
Distance
--> Zero
Hi Chief,
I realize that the distance between what I (think I) want and what I
have becomes zero when drama disappears.
I consider taking my feelings of <wanting something and not
having it> to Tribe as an entry point.
|
Thank
you for sharing your process.
Let me know how your Tribe session goes.
|
Jan 2,
2018
Workshop
Ed,
Any Workshops planned for 2018?
|
Thank
you for inquiring about a Workshop.
So far I currently have a Workshop in process, for myself, on the Finer
Points of Procrastination.
Thank you for participating in this Workshop and reminding me to put
the procrastinating on the back burner for a while.
|
Jan 2,
2018
Empty Mind
Mr. Seykota,
Empty your mind. Be formless,shapeless-like water.If you put water into
a cup, it becomes the cup. You put water into a bottle,it becomes the
bottle. You put it in a teapot, it becomes the teapot. Now, water can
flow or it can crash. Be water, my friend.
|
Thank
you for sharing your aqueous insights.
|
Jan 2,
2018
Wants Foot in
Door
Dear Sir,
I recently met someone and I explained TTP Ideas to him. He said when
he listens to someone else negative feelings he gets involves with the
senders negative emotions. For example when his girl said the movie
they just watched is not good, he gets angry. He then tries to analyse
her feelings, and advises her to not to feel this way.(which I know is
not the right thing to do). I said let her express her feelings and
said him just acknowledge her feelings with psychical forms.
However, I was clueless what to say to him about his anger and
resentment being built up when he receives. Could you please help me on
this?
I used to be the same like him before I heard about the TTP. I have
noticed. Thesedays, I still get occasionally resentful specially
towards personalities that project their anger, jealousy, and try to
attack and punish me for their negative feelings. Is this something
that you experienced at the beginning on your path to become a great
receiver?
What helped you along the way?
Thank you Ed
Your help is greatly appreciated.
Nipun
Hey Ed,
I was wondering how you were able to get your foot in the door at a
trading firm.
I have a great track record, but I am struggling to get responses back
from prop-desks, as I do not have an Ivy league education.
Any insight would be great
All the best,
P.S - I enjoy reading your material!
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I can
tell you my method.
After graduating from MIT, I go down to Wall Street and knock on the
door at Merrill Lynch.
This guy answers the door and I say, "I'd like to start working here
right away."
He says, "Hmmm ... and just what kind of work to you plan to do."
I say, "I plan to make a lot of money for a lot of people and, even
better for you, I can work for free if you want, or whatever you want
to pay me."
At this point, he doesn't know what to say, so he shows me into the
office of one of the vice presidents. The VP doesn't know
what to make of all this either and decides to hire me as the
broiler-and-eggs analyst.
My job: to publish the weekly broiler-and-egg market letter.
I find this all amazing, that someone with zero experience winds up
advising other people about something he doesn't understand.
Nevertheless, I study the broiler and egg situation and issue my
recommendation: namely, stay out of the market for a while.
This, however, does not sit well with my boss - who informs me that he
wants the letter to motivate more, not less, trading.
After a few weeks of simmering in this corporate culture, I leave MLPFS
and "trade up" to a position at CBWL Hayden Stone, a firm going through
reorganization.
My new job: to help the department head with math. The job also gives
me access to the company computer during the weekends, where I may back
test trading systems.
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Jan 1,
2018
Wants to
Aggregate FAQ
Hi Ed,
I believe you want to help people and share your message (otherwise why
bother with FAQ and the website at all).
With that said, would you would be interested in working together to
aggregate the teachings of FAQ and the various TT website resources to
create a book/trading manual?
In my mind, the end result would be similar to the Commodities Corp
book, “Amos Hostetter; A Successful Speculator's Approach to
Commodities Trading”.
In reading historical FAQ, I notice many consistencies in your message
over the years (hence the guide I sent recently). There are
also the various resources on the website (some of which appear to
never have been completed).
With some aggregation and input from you, I believe FAQ and resources
could all be turned into a cohesive linear manual (or book) that could
potentially outlive the website.
My motivation is to gain the wisdom of your experience and
teachings. I plan on doing this project for myself regardless
so figured it couldn’t hurt to potentially collaborate and gain your
additional insight and stamp of approval.
Please let me know your thoughts. If you are interested, I could send
an outline with a proposed structure to the book/manual.
Happy New Year!
Thanks,
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Thank
you for offering to aggregate FAQ.
Yes, I would like to see your outline, structure and plan for creating
the document.
You might like to note that many of the illustrations in FAQ appear
under the license of use of Internet materials for educational and
non-profit use.
You might also like to note FAQ contains very little in the way of
instrument-specific trading advice.
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Jan 1,
2018
New Listing
for New Delhi Tribe
Hi Sir,
Wish you a very Happy New Year!!
Could you please update the records on your webpage for my
Tribe.
Regards,
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Thank
you for posting your TTID (Trading Tribe Information Document) Update.
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