Key Points
• Trend followers are right for the trend and wrong at each end. • Seykota: “A system should support and reflect the attitude of a trader.”
• Seykota: “There is no best system any more than there is a best car. There might however be a best car for you.”
• Seykota: “If you can’t afford to lose, you can’t afford to trade.”
• Money is only a means of keeping score.
• Taking losses should be easy. You should have them quantified before ever entering the market.
• Trust your trade. If you can’t trust it, don’t trade.
• The exact turning point, the top or bottom, can’t be known until it is over and a matter of record.
• After you take your signals and enter, trading becomes a waiting game.
• The more volatile the market, the less you risk. The less volatile the market, the more you risk.
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