The guy Ed is probably a fake cause he would of started an Investment Firm/Private Equity long ago if he was real, and there seems to be no sign of that... But calling TF dead is astoundingly ignorant to current times, please explain your point of view why you think riding trends before they happen is not profitable
How is he doing now? re: A former manager at Target became a millionaire
- Thread starter silveredge
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The guy Ed is probably a fake cause he would of started an Investment Firm/Private Equity long ago if he was real, and there seems to be no sign of that... But calling TF dead is astoundingly ignorant to current times, please explain your point of view why you think riding trends before they happen is not profitable
Starting a firm is an entrepreneurial endeavour. Not all successful traders want or/and like to do that or even have the attributes to be a successful entrepreneur even if they want to. Maybe they love trading/investing too much to start a firm. I doubt Mr Seykota is a fake since many good traders I know look to him as a mentor.
I don't think his Trading Tribe charges fees for education. He is getting old, so lower level of activity is expected at his age.
My point is a different one. Seykota made a lot of money at a time the futures markets were suitably aligned for his style if trading. Later he gave paid seminars. Covel never traded but presumed to "educate" on the basis of no trading experience anyway. The subject of this thread may have made money but now relies on income from instructing others. Perhaps he was once skillful. Perhaps he was once lucky. But if he was still skillful or lucky he might not bother with the peanuts his instructing provides.
Wow! this pricing from Ed Seykota is very high. USD3499 for workshop. Might as well learn from books and forums like elitetraders. I didn't know he has switched to training to earn money instead of trading. This says something about his recent trading performance.
http://www.seykota.com/tt/workshops/pricing.html
Wow, you guys have no respect for traders who let you learn from them - successes and failures! It's always ... Oh that time was easy. BS, its always hard ... Only hindsight is easy.
Once you have a name (brand), you start getting invitations around the world to give lectures. Why wouldn't you agree to that!? Thousands of wide eye wanna be traders clinging to your very word. Some people have nothing left to prove to the market and find more satisfaction elsewhere. Why is it so hard to believe?
Once you have a name (brand), you start getting invitations around the world to give lectures. Why wouldn't you agree to that!? Thousands of wide eye wanna be traders clinging to your very word. Some people have nothing left to prove to the market and find more satisfaction elsewhere. Why is it so hard to believe?
Wow, you guys have no respect for traders who let you learn from them - successes and failures.
Correct!
Perhaps that is because traders only let you learn from them a) if they are not traders (like Covel) or b) they can no longer make money from the markets or have lost their nerve.
No one who can still milk the markets would bother to tell you how to do so.
Correct!
Perhaps that is because traders only let you learn from them a) if they are not traders (like Covel) or b) they can no longer make money from the markets or have lost their nerve.
No one who can still milk the markets would bother to tell you how to do so.
Milk the market? I don't think anyone can. By your logic, retired athletes have nothing useful to share? Covel was the most successful of all the Turtles (if I remember correctly). So you don't think he had something "special" that others lacked? His performance was documented unlike yours or mine.
I am afraid that Michael Covel was never a Turtle, never traded and has no knowledge of trading other than through his conversations with real traders. "Milk the market" is the exact expression I wished to use since it is correct. HFT "milks" the market by trading ahead with knowledge of other peoples orders. Many hedge funds still do the same. Inside information. I used to milk the IPO market in its heyday. None of these things are real trading in any useful sense. None of these techniques rely on true prediction. What they do rely on is the die being loaded in your favour. You are buying stuff at prices no one else can. You receive information denied to others.
Mr Covel's trading was never documented since he never did any.
Seykota is intelligent, apparently made serious money trend following when that was still possible, and is enjoyable company. I had lunch with him in Cambridge (England) many years ago. The demise of JW Henry and the almost demise of Bill Dunn bear witness to the near death of trend following. Those people are at least bright and engaged in real trading. The likes of Mr Covel are perhaps different kettles of fish. Marketing people, salesmen. Not traders, not investors, not quants.
Once you have been around markets for 30 + years you develop a sixth sense around forums like these. Smokes and mirrors mostly.
Mr Covel's trading was never documented since he never did any.
Seykota is intelligent, apparently made serious money trend following when that was still possible, and is enjoyable company. I had lunch with him in Cambridge (England) many years ago. The demise of JW Henry and the almost demise of Bill Dunn bear witness to the near death of trend following. Those people are at least bright and engaged in real trading. The likes of Mr Covel are perhaps different kettles of fish. Marketing people, salesmen. Not traders, not investors, not quants.
Once you have been around markets for 30 + years you develop a sixth sense around forums like these. Smokes and mirrors mostly.
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I stand corrected ... Confused him with Curtis Faith (whose books councidently got me into trading).
Agreed!