Ed Seykota’s Net Worth
Ed Seykota, when we hear this name, we need to roll the clock back to the 1970s. You might be thinking why the 1970s? Well, the answer is quite simple, Ed Seykota was considered the pioneer of Systems trading. He was the one who started testing ideas in and around the stock market to look cool. He was the person who started using punched card computers.
Overall, in one word we can call him a legend who did a lot of crazy things in trading that paved way for more people to try and taste success in this field quite smoothly without facing any difficulties.
Over the years people actually learned the skills he pioneered to reach a great level in the stock market. This commodity trader is someone whose expertise in capital allocation is always going to be at the top even after so many changes om the trading market, not only in the United States of America but also over the world. In this post, we will talk about the net worth of Ed Seykota and with that, we will also try to know about him properly. This post has covered it all. So, let us dive deep and understand this wealthy person.
Who is Ed Seykota?
Ed Seykota is a personality who was born way back on August 7, 1946. As of now he is roughly around 76 years old but has got the mental strength of a young person. If we simply talk about where he lived and where he is living now, then one should know that he was a resident of Incline Village that is present in Nevada but now has moved to Texas. Incline Village is near Lake Tahoe. Well, to be precise one can say that this locality was around the north shore of the lake.
He was born and bought up in that locality, and now we can easily say that he must have made a lot of memories in that locality. That humble living has shaped Ed Seykota as a humble trader even though he has already accumulated huge wealth.
Ed Seykota was a young man with a bright future when he showed his initial interest in trading. He had got that risk-taking ability in an era where people used to find it quite difficult to take high-risk high-reward decisions. It seems that he got the fruits of his risk-taking ability otherwise we would not have been talking about this legendary personality in this post.
His interest was not only around the risks of the commodity market but also around the computerized system that encouraged him to punch card computers. He was heavily influenced by a top book written by Edwin Lefevre that is known as Reminiscences of a Stock Operator. After reading that book actually he tried to develop a system that is completely based on exponential movements of the averages in the commodity market. It was actually his first of many trading systems and it started on a good note for him.
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If you focus on the words of Ed Seykota then you should remember that he had said that there are no requirements to change the system as the trader should try to develop a system with which he is completely compatible. Over time you can see that this legend kept on improving the trading system to give quite an interesting look to the system that actually suited his choices and was fitting perfectly with his style and methods of trading. He never kept his system rigid as he was focusing on the market and staying flexible according to it.
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The career of Ed Seykota
When we talk about the career of Ed Seykota we can always say easily that he had got one of the most glittering careers without any doubt. He had attended his high school near The Hague which is in the Netherlands. Then he went on to do his electrical engineering at MIT and Management at MIT Sloan School of Management and completed both by getting S.B. degrees in 1969. In 1970, he started his journey of pioneering Systems trading. He tested his ideas and experimented a lot to gain success for which he is known today among the traders.
This legend even went on to write books. He wrote The Trading Tribe in 2005, and Govopolu on the 39th Day in 2013. His books can give you a simplified idea about his thought process in trading. He is a person who never made the stock market look complex as he always focused on simplifying the market to gain profits always. There is no single person like him who can understand the stock market the way he does even now. He had got a love for the stock market and always stayed optimistic about success in this market.
The net worth of Ed Seykota
The net worth of Ed Seykota is said to be around 4.2 billion USD. It is quite huge when you compare it to the regular people in the commodity market but then he is no common person out there. His unique characteristics like examining self and staying committed to studying components of the stock market, especially the psychological ones are keeping him ahead of others even at an age of 76 years old. He has got a set of rules that he has made for himself and follows these rules without getting deviated. His following these rules are helping him to achieve his goals.
He understands the fluctuation of the market and always prefers to stay calm rather than panic and that has been the secret to his ability to accumulate wealth. He is a person who once lost 100 million USD in the market and did not let it affect him. You do not find people usually like him who do not panic about loses and do not get over-excited when they make profits. He knows that sometimes things might not go his way but still, he prefers peace at that time.
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If you are following Ed Seykota and want to be a trader like him then you should know that you have to read more about him. You should rather focus on how he targets the psychological aspects of the trades rather than following mere charts. According to Ed Seykota, there is no substitute for hard work and it is something one can always trust.
He had got a huge and highly successful career which many people will love to have but will lack persistence. If you have got the persistence of Ed Seykota then you can go quite a long distance in the commodity market very easily.
The simple and yet important thing according to Ed Seykota is to try to cut losses because traders should always focus on protecting their capital. Protecting the capital should always be the primary job of a guy who is trading while making money is always secondary, and according to this legend, this is the top-most trading rule a person should always follow. You should embrace trading losses but focus on cutting losses as much as possible always. Adapting to the style of the market is important if you want to stay long.