Edward Arthur Seykota (born August 7, 1946) is a commodities trader, who earned BSc in Electrical Engineering and Management from MIT, in 1969. In 1970 he pioneered Systems trading by using a computer touch-card to test ideas on trading the market. Seykota lived in Incline Village-Crystal Bay, Nevada, on the north shore of Lake Tahoe.
As a young man he school near Den Haag, the Netherlands, and also lived in Voorburg.
Ed Seykota successfully changed their accounts of who was originally only $ 5000 amounted to $ 15 million within 12 years. At the beginning of his career Ed Seykota inspired by Richard Donchian who wrote a book about a trading system that can beat the market. Ed Seykota therefore also known as the pioneer of Mechanical Trading.
He's been in the beginning of the trading begins around the end of 1960, when he decided that the price of silver will had passed so he decided to open an account to get the benefits he had imagined but because of the influence of the company where he made him lose a lot of open accounts money. Then he re-entered the market with long positions but silver prices continue falling until touched stoploss. He could not believe how the market can beat fundamental news. It made him more interested in how the market actually works and at that time he read a book written by Richard Donchian who testified that a mechanism to follow the trend trading system can beat the market.
His interest in creating a trading system method based computer after he read an article written by Richard Donchian who testified about the use of mechanical systems to follow a trend that is used in the trading system and also the use of Donichian indicator moving average with a period of 5 and 20. Trading system was first developed by Ed Seykota also based on the exponential moving average.
Ed Seykota continue to develop trading system from time to time to adjust to his trading style and current conditions. With the initial version of the system is rigid, he then introduces more rules into the system to look for a pattern trigger and money management algorithms.
In 1970 he became a pioneer in the field of trading system and apply it to her clients and the results are pretty awesome until he left the company and decided to trade his own as part of the "trading for living".
In subsequent years, Seykota implement trading system in the accounts themselves and customers, and during this period account Seykota showed an increase large enough, for example, in mid-1988 account one of its customers from the initial funding of which only $ 5,000 in 1972 rising to 250000%. She worked in the home which also serves as an office. He is trading just take a few minutes to run the program, which will determine the signal for the future.
Ed Seykota has toured various cities in the world to meet with groups of traders to discuss trading issues, emotions in trading and seek a solution to the problem. In any discussions Ed Seykota always encourage group members to train their emotions and share his knowledge to everyone.
Which makes Ed Seykota unique is continuous self-evaluation of the trading system and always have a commitment to continue to study the psychological component of trading because he thought both of these is a single entity.
Seykota is a trader who in 1970 pioneered a computerized trading system (now known as the trading system / robot) for the futures market. Seykota are role models of a number of traders the world, one of which Michael Marcus. Then, he decided to mentradingkan customer funds.
Seykota success is largely due to the development and utilization of computerized trading system which he first tested on IBM mainframe computers. His interest in creating a computerized system that has given birth to a letter by Richard Donchian on utilizing mechanical trend following trading system and also Donchian's 5 and 20 day Moving average system. He was also inspired by the book Reminiscences of a Stock Operator.Sistem first trading is developed based on exponential moving averages.
Ed Seykota, in the book Market Wizards
"The system does not need to be changed. Trick is for a trader to develop systems compatible with."
Seykota improve the system over time, adapting the system in accordance with the trading style and preferences. With the initial version of the system is rigid, he then introduces more rules into the system in addition to the trigger patterns and money management algorithms.
Another aspect of his success is his genuine love for his trade and optimistic attitude. He continued to improve the system even though he never changed the system response of the system that has been set.
Some students Ed is Michael Marcus, David Druz, Dean Giordano, Michael Martin, Jason Dekker, and Jason Russell of Salida Capital broker.
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