What does Ed Seykota mean by "everyone gets what they want from market"?

L

learner88

In the market wizards book, Ed Seykota mentioned "everyone gets what they want from the market". All market participants that I know enter the market to win and not lose. Yet, most of them lose. I'm sure I missed something that Mr Seykota can see.

Can elite traders who can see deeper share your wisdom?
 
mbondy said:
Some people win by losing.
Some people win by winning.
Win or lose, everybody gets what they want from the market.
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What about those who want to get rich from the markets but ended up poor? Lots of them around. I'm sure they are not getting what they want from the market.

I don't understand Mr Seykota. I'm sure he's a better trader than me. If Mr Seykota is on this forum, I hope he helps to answer the question.
 
learner88 said:
In the market wizards book, Ed Seykota mentioned "everyone gets what they want from the market". All market participants that I know enter the market to win and not lose. Yet, most of them lose. I'm sure I missed something that Mr Seykota can see.

Can elite traders who can see deeper share your wisdom?
More...

IMO, the quote is mostly bullshit and should be disregarded. Sure, there are certain types of people that self sabotage because of some psychological issue so that by constantly losing at trading they are in a sense getting what they "want". But as you pointed out, the vast majority prefer to win so losing is not getting what they want from the market.
 
learner88 said:
In the market wizards book, Ed Seykota mentioned "everyone gets what they want from the market". All market participants that I know enter the market to win and not lose. Yet, most of them lose. I'm sure I missed something that Mr Seykota can see.

Can elite traders who can see deeper share your wisdom?
More...

He also said “A losing trader can do little to transform himself into a winning trader. A losing trader is not going to want to transform himself. That’s the kind of thing winning traders do.” As to why so many traders subconsciously or unconsciously want to lose, that would take more than a post. But consider how comforting self-pity can be. Trading forums are often illustrations of "misery loves company".

But in the meantime, think about why traders who've been at this a year, or three years, or five, or ten, or fifteen continue to avoid putting together a trading plan, if they truly want to be winners. Consider applying the pathology of gamblers.
 
fan27 said:
IMO, the quote is mostly bullshit and should be disregarded. Sure, there are certain types of people that self sabotage because of some psychological issue so that by constantly losing at trading they are in a sense getting what they "want". But as you pointed out, the vast majority prefer to win so losing is not getting what they want from the market.
More...
I think the psycholigical reason is what Seykota was aluding to, if you can't sort out those innermost negative traits one carries, it will be reflected via your trading.
Trading is very much a mind game and one which does not come naturally to most people.
Once you trade we are pulled in the direction of what you really want. You may want to win at trading but, for example, there may be the belief lurking below which tells you that maybe it's luck this time and that good luck always runs out.
Also, some have a trait of putting themselves down, "oh stupid me" when they make a mistake, that will surely work against you.
 
learner88 said:
In the market wizards book, Ed Seykota mentioned "everyone gets what they want from the market". All market participants that I know enter the market to win and not lose. Yet, most of them lose. I'm sure I missed something that Mr Seykota can see.

Can elite traders who can see deeper share your wisdom?
More...

It's analogous to a guy who says he wants to go out with a beautiful girl but who has never actually asked one out.

Saying you want something and doing something about it are very different things.
 
When I first read “Market Wizards”, I didn’t quite understand this statement. Now after trading (and mostly losing) for a few years, I can say I finally get what Ed meant.

It’s absolutely true in my case. I realized I actually felt better when losing than winning deep in my heart. After thinking hard about this, it eventually came to me that I had a covert conviction that trading is a bad activity that does no good to the society’s well-being.

My profession is in science and technology and I have done well in my career - published a number of scientific papers and did a few technical inventions, which are all undoubtedly benefiting the society.

Once I figured this out and abandoned that secret conviction, my trading got much better. I told myself I deserved the winnings because I worked hard for it. So it seems to be a psychological phenomenon, but it can be hidden in the sub/unconsciousness and not immediately obvious.
 
;) "everyone gets what they want from the market".

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A little poetic license BS really.

Ed Seykota, a famous trader, once said, “Everyone gets what they want from the market. Some people want to win, and they win. Some people want to lose, and they lose, other people want to gamble (i.e. have fun) and they gamble.”,
 
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