ED SEYKOTA Interview by Jack Schwager (Market Wizards) Best stock traders.

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Күн бұрын

ED SEYKOTA Interview by Jack Schwager (Market Wizards)
The Market Wizards - Interviews with Top Traders.
Ed Seykota is classed by some as one of the best stock traders in the world alive today. Jack Schwager provides a great interview in his book to unravel the mind and trading strategy of Ed Seykota.
In this animation we provide key points discussed, and determine Ed's stock trading strategy which is a simple trend following, breakout strategy with some other simple moving average criteria.
Ed Seykota proves that a trading strategy does not need to be complex, the opposite is quite true. The concept relies on trend following and good risk management to create a great risk reward ratio, fundamental to a successful stock trading strategy.
The discipline and patience required to follow such a trading strategy is however the most difficult part, Ed shows hows he endures under performing periods, sometimes lasting 3 years. Novice stock traders would likely discard such a system during these periods, and as a consequence lose out on trading returns of 60% + per year.
I hope you enjoy these insights into the mind of Ed seykota.
Links:-
My Brokerage Account (Interactive Brokers) - bit.ly/3UGvn1U
25% Off Stockopedia - bit.ly/2YIcAIn
Risk/Reward trading spreadsheet - bit.ly/3ea6sl8
My Trading Spreadsheet/Calculator - bit.ly/3ea6sl8
Technical Screener - bit.ly/40S034v
Back test software - bit.ly/3oO1exN (20% Discount code)
My Breakout Scanner - bit.ly/40S034v
My Forum - bit.ly/40S034v
FREE Trading Tools/Software/Stuff - bit.ly/3ea6sl8
My Strategy Blueprint - bit.ly/40S034v
Edgewonk Trade Analysis Software - bit.ly/3xS6S7s Coupon Code = FWISDOM
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As a professional trader I have consumed hundreds of financial books and endured countless hours of self education. My hope is that this channel will reduce the learning curve duration of many aspiring traders by providing the key information in a concise and enjoyable manner.
I also offer a paid subscription service for those looking to see all my investment decisions.bit.ly/40S034v

Пікірлер: 94

@edel1605 4 жыл бұрын

Market wizard series, thank you!

@FinancialWisdom 4 жыл бұрын

Our pleasure!👍

@williamkz 4 жыл бұрын

Another good one. Thanks Gareth. Plenty of reinforcement of good practice. Key message for me: you have to be passionate about trading. It's not a job or a hobby, it's a way of life.

@FinancialWisdom 4 жыл бұрын

Absolutely! Thanks William

@devinsmusicroom4441 3 жыл бұрын

Great info on Ed's trading style. Thank You

@FinancialWisdom 3 жыл бұрын

Glad you liked it!👍

@MegaMegaminecrafter 3 жыл бұрын

Thank you so much :-) all of these are so great.

@FinancialWisdom 3 жыл бұрын

Thanks a lot 🙏

@diggiedog548 3 жыл бұрын

Great video again Gareth. Thanks 👍🏻

@FinancialWisdom 3 жыл бұрын

Thanks Anthony 👍

@MandhanAcademy 3 жыл бұрын

thanks

@FinancialWisdom 3 жыл бұрын

You're welcome!

@j.karvindbusinessconsultan4327 4 жыл бұрын

Awesome bro thanks for new one

@FinancialWisdom 4 жыл бұрын

Welcome 😊

@drjems 4 жыл бұрын

Excellent choice market wizards ... Yet to see....But I'm very happy with the choice...🙂👍

@FinancialWisdom 4 жыл бұрын

Thanks Jemin👍

@katrina9993 Жыл бұрын

Thank you ever so much for your valuable advice, the videos are perfectly done and help me a lot 🎉

@FinancialWisdom Жыл бұрын

You are so welcome!

@jameswang4706 2 жыл бұрын

Another great one. Thank you,.

@FinancialWisdom 2 жыл бұрын

Glad you enjoyed it

@umutalper9822 4 жыл бұрын

THANKS A LOT

@FinancialWisdom 4 жыл бұрын

Always welcome

@ouch1226 4 жыл бұрын

Ed and myself has something in common when it comes to EMA strategy..the 80/90EMA are the breakout averages..once price enters it never goes back unless there's a black swan to gap down the price.

@FinancialWisdom 4 жыл бұрын

Likewise although i use the weekly chart, not the daily. Thanks for commenting👍

@skesno309 Жыл бұрын

What EMA crossover are you using?

@cagrikanik2403 2 жыл бұрын

As far as I know Ed also is an engineer and for sure he is so clever and beyond other traders. The only thing he do not want to explain so much his systems :) Thanks to FW we discovered a little bit more!

@FinancialWisdom 2 жыл бұрын

Thanks again

@Amitkumar-gh7wc 2 жыл бұрын

very soon there will be 100k subs. as a newbie, I learned much more than any other youtube video. keep uploading. thanks

@FinancialWisdom 2 жыл бұрын

Thanks, I hope so....

@FlintBEAGLE 4 жыл бұрын

Definitely deserved more subscribers! Your content are very helpful especially for us newbie traders. Keep uploading please

@FinancialWisdom 4 жыл бұрын

Thanks Christian, i'll keep trying....

@africa8125 6 ай бұрын

100❤❤

@lakhangangurde190 3 жыл бұрын

Very very nice video sir 👌 I love your video's Please make video on Richer Wiser Happier book summary

@FinancialWisdom 3 жыл бұрын

Will try

@Matlacha_Painter Жыл бұрын

Your video is a great service to those who are ready to make riches beyond the dreams of Babylon trading in financial markets but are unable to read. By letting them know what a book says (synopsis) but still unable to understand it allows their losses to flow to my account. Thank you. Bring them suckers in.

@FinancialWisdom Жыл бұрын

😫

@DanielFlores-no9wc 2 жыл бұрын

Thanks a Lot man

@FinancialWisdom 2 жыл бұрын

You're welcome!🙏

@datageek9132 2 жыл бұрын

5) Know when to break the rules.

@FinancialWisdom 2 жыл бұрын

Yes, subjective...

@coupezz 4 жыл бұрын

ขอบคุณครับ

@FinancialWisdom 4 жыл бұрын

👍

@chauhanvinayak123 10 ай бұрын

Hello Gareth. Great work. Care to explain the ATR mentioned. How to use it or how was it used by Ed? It went over my head. Thanks in advance.

@FuzzyAason 2 жыл бұрын

Did he also mention the period of the ATR? 4x ATR of a >> 14-day period?

@hedu5303 Жыл бұрын

done

@Jackson_heights94 2 жыл бұрын

🙏

@user-zh3jg1fc4n 12 күн бұрын

Where is interview??

@edelrivera7765 3 жыл бұрын

Hi, waiting for other wizard like bruce kovner and others. Ty

@FinancialWisdom 3 жыл бұрын

Thanks Edel, in the future no doubt 👍

@ariefaulia885 11 ай бұрын

Please make a video for ride the winners

@FinancialWisdom 10 ай бұрын

We have done some trend following...

@mitchdehotte 3 жыл бұрын

Just a question please : 4:48 4 x times the ATR, : it mean closing below a line who represent price minus 4 time athe ATR or 4 close under the price minus one time ATR ?

@kaseystube 3 жыл бұрын

I am a little confused on this as well. ATR is an indicator, not a moving average. I think a chandelier exit would be the closest thing to work. Thoughts? Love the videos!

@shavyasharmasharma5486 2 жыл бұрын

Super trend is the ATR points plotted on the chart. Use it and you will know

@seamaster50 4 жыл бұрын

The trading code - Jason Cam Please review this one

@FinancialWisdom 4 жыл бұрын

I can take a look, thanks 👍

@charlesc3618 3 жыл бұрын

I would LOVE to see the chain of trades that took that 5 grand to 15 million. Would be inspirational, as well as give a big aha moment!

@FinancialWisdom 3 жыл бұрын

I agree, if you ever find that detail let me know and ill present it 👍😉

@charlesc3618 3 жыл бұрын

Financial Wisdom: Believe me, I have searched the internet, but I think Mr. Seykota would never release those records. The closest that I can come to understanding what must be involved with such exponential gains over a sixteen year time period, is when I tried my hand in the futures markets when I was only 22 years old back in 1993. I opened an account with a paltry $2,000, and went on to go long one silver contract (5,000 ounces!), barely having the margin required, at the super-bargain price of $3.725/oz. in mid-March 1993. My plan was to double my position size with my unrealized profits at every 50 cents/ounce increase. (A fools endeavor) Well, to get to the core of my story, I added 1 more contract to my position at $4.25/oz., and went on to endure a bumpy,-emotional roller-coaster ride all the way to about $5.25/oz. at the beginning of August ‘93. My account had an unrealized value of over $10,000 at that point, which equates to a 400% return in 4-1/2 months. On Aug. 5th, I woke up to a major sell-off, and my account was sitting at $5,500, cut almost in half over just one weekend. Even though I still had a great return, I was emotionally devastated, and quit trading futures right then and there. So, moral of my story is to have a strict trading plan, such as Ed Seykota’s, and do those trades that I did, over and over again, without fail, and without emotion.

@wkr999 4 жыл бұрын

I hope the next one will be master the markets by tom williams

@FinancialWisdom 4 жыл бұрын

Hi Waleed, I'll certainly add it to the list, thanks 👍

@Franzzss 3 жыл бұрын

what is the name of animation program, is very good

@FinancialWisdom 3 жыл бұрын

Hi Fran - Videoscribe

@FinancialWisdom 4 жыл бұрын

My Brokerage Account (Interactive Brokers) - bit.ly/3UGvn1U My Breakout Scanner - bit.ly/3ea6sl8 My Forum - www.financialwisdomTV.com/forum My Strategy Blueprint - www.financialwisdomtv.com/plans-pricing Edgewonk Trade Analysis Software - bit.ly/3xS6S7s Stock Screener & Backtesting - bit.ly/3oO1exN (20% Off Code = FWSDM) Stockopedia - bit.ly/2YIcAIn (25% Discount)

@drjems 4 жыл бұрын

Excellent What's your final take away... Any Systems will eventually change , and that's the growth of the trader... Please explain...

@FinancialWisdom 4 жыл бұрын

Thanks Jemin - In my experience...there are a huge array of systems, each with their own merits and profit feasibility. The bottom line is the Risk/Reward/Expectancy metrics. No matter which system you opt for so long as you have a positive expectancy (aka edge) the system is viable. However, the psychology/discipline to be able to stay with the system for the edge to materialise is another matter, hence why most top traders suggest having a system that suits your personality, thus making the psychology aspects easier to control. Hope that helps?

@drjems 4 жыл бұрын

@@FinancialWisdom Yes. Thats a great reply ... That's why I have chosen options ..🙂👍

@FinancialWisdom 4 жыл бұрын

Great!👍

@MrMattandy3 Жыл бұрын

Cut your losses! Maybe you have a chance!!

@albertlabos8400 2 жыл бұрын

The letter that follows is an E.👽

@albertlabos8400 2 жыл бұрын

If, to date, 36,169 viewers have seen it and none have solved it before me, what does this show you ? It shows that 36,168 are wired differently and not suited for the mission.👽

@FinancialWisdom 2 жыл бұрын

Very true!

@albertlabos8400 2 жыл бұрын

Yes, exactly, not correctly wired for the mission. They think it is a game of snakes and ladders even children can amuse themselves with. Not DRIVEN either. I will give you one example. On another commentary related to market history more than one subscriber asks if the presentation is available as a printed text. Of course it isn't. But it would not occur to either of them to play it with interruptions so they can TAKE DICTATION. Taking dictation of a topic that attracts their interest is too much of an effort, you see ? Or is it that nowadays reading, writing, spelling, punctuation and taking dictation is no longer taught in schools, or what izzzitt ? Obviously it is laziness.....entitlement....god help us all....if not...our other friends who are properly wired 👽may come to the rescue....but not me.

@AG-kb4st 3 жыл бұрын

Cut Losers Run Winners Priceless but how many Times Losers become Multibaggers & Winners become Losers much easier said than Done

@FinancialWisdom 3 жыл бұрын

Hi A G, We have to look at it based on probability over a large sample of trades, not all will win and not all will lose, some times we miss out but cutting too early and sometimes we reduce losses by getting out at the right time. But in terms of probability, if we skew the odds in our favour to promote positive risk/reward, you can achieve great returns.

@ckg6387 3 жыл бұрын

Traders make lot of money, but the value investors make wealth.

@FinancialWisdom 3 жыл бұрын

I guess...

@lakshay534 Жыл бұрын

@@FinancialWisdom He does not watch your videos. I guess ...

@philosophyze Жыл бұрын

Algos, passive investors, dark pools, Govt/Central Bank/regulator interference, etc... have changed the way markets function. Fundamental investing alone w/o risk management, position sizing, etc... is a fool's errand. You can't predict the future. Even a global macro approach w/o price consideration can't time the markets. The opportunity cost is huge! Sometimes it takes months or years for obvious issues to be reflected in the price.

@kingkong1040 Жыл бұрын

Who is narrating this? Anyone know?

@FinancialWisdom Жыл бұрын

Ummmm me 😃

@kingkong1040 Жыл бұрын

@@FinancialWisdom subbed, excellent stuff

@umeshchandra4723 3 жыл бұрын

I don't know why misleading title of interview...

@FinancialWisdom 3 жыл бұрын

Sorry Umesh, the book reviewed was based on interviews.

@bumandy 3 жыл бұрын

I love your channel but Ed is a futures (not stock) trader

@FinancialWisdom 3 жыл бұрын

Very true, principles no doubt similar..

@MartinSage 2 жыл бұрын

I thought so. If you look at the best Forex traders the returns are in the 50 to 100% area. Meanwhile Future traders will be in the 90 to 1000% and more.

@UnbenutzerKanalname 2 жыл бұрын

you must already be pretty wealthy to weather a 3 year sideways-streak...

@zorba81674 3 жыл бұрын

Good stuff, new subscriber here. Question: Wouldn't a $1,000 initial investment that averages 60% returns a year end up ~$110,000 after 10 years? How are you coming up w/ 350K? Thanks.

@FinancialWisdom 3 жыл бұрын

Hi Zorba, you are absolutely right, just under 110k.. not sure what i did there?? doh

@zorba81674 3 жыл бұрын

@@FinancialWisdom No worries, you're added value in this space.

@albertlabos8400 2 жыл бұрын

Now look at this....don't just see it...like a cow watching a train go by....I mean look at it properly..... Again, with 78.1 thousand subscribers and 36,325 views everybody except me obviously overlooks the significance of the obvious.....OTTFFSSE...the letter that follows is E. Why ? The letters represent rises and falls in a price sequence.= rising 5 points - falling 14 points - rising 13 points and then falling 14 points...So what does it indicate ? It indicates a price sequence in a falling market doesn't it ? Simple...but no one ventures to crack it. 👽

@MARKCRASTO Ай бұрын

What?