Legendary trader Ed Seykota took a $5,000 account and turned it into $15M in 16 years. He shares the 5 trading rules that contributed

Wow that is insane !!

Wow that is a good result.

nice click bait, rules are for risk management and not the actual trading rules, sorry guys

here's a simplified example, headline says, Legendary Gambler beats the Casino, the story says how did you do it? I always play Roulette, wow, that's awesome, thanks for sharing. Nothing about HOW he plays roulette FFS

I do not like this news this month and less at the beginning of the month, when everyone must deleverage, it is an explosive month, and that is why what I do not like is that it says with 5000 it went up to 15000000

FOREX FACTORY NEWS MANAGERS SHOULD CARE ABOUT THEIR TRADERS AT LEAST THE NEWS HOLDERS

Even there is a clear info for how many years he struggled to do that yet some of us here commenting like this guy have turned that in a short period of time. It's 16 years folks. If this guy has an incredible money management and we don't but let us appreciate him instead of getting jealous. Nobody succeed in anything if its all jealousy and hatred in our hearts. I have lost around $10,000 dollars in accummulations for five trading years and still its bumpy road right now. But I will never give up on this, somehow If one of us is listed because we turned a small amount into 6 to 7 figures in a span of 5-10 years and then we go down to the comment section and bash that person even probably we knew him before he became like that, just an example anyway. But attitude is an attitude unless we change to be better person. I am 34 years old and I will try grow a small account and we will see in ten years by the age of 44. My accounts are all in RED MODE right now since in the past years and the TE are all public and so it can be seen anytime. I don't know how much I could make or how much I could lose in ten years from now. The only thing that this guy being on the headline of the magazine and we have divided reactions among us is that we didn't know him before and he just pop up in the web and so it might create suspicions for many of us but the picture here might change if this guy is a member of Forexfactory before he got there at that figures or we will still bash him because of Jealousy or something like that. Why we could not appreciate his money management for 16 years even without looking at the figures. Being a consistent profitable trader in 16 years it's something remarkable and if we are still far from it. Why don't we work and study hard to develop our money management skill for the better of our trading performance?

Just wondering here if are we reading the whole article or just the headline and then lay down all our sophiscated ideas and opinions from nowhere. Just a cent.

I read the full article, I'm only talking about the headline of the news, the article is a very good article with 5 guidelines that are highly recommended

The rules are so obvious, it's really strange that some readers find this to be 'new'. You need to get a set of moving averages that work, you follow them and when they start consolidating at some point showing some familiar pattern you need to watch out, its decision time!! In that pattern (I prefer to call it a formation) you will find a "main ingredient" that will show you whether to get out or stay on. You will be amazed what a single bar can show you!!

You act like you know how he was trading but I don't think he trades like that at all. Many people have surmised that he trades with Ma's or donchian channels or this or that...but is there any real proof of how he's traded? He, himself has given clues but that's about all...can you reproduce his results with your MA system? MA systems have been beaten to deaths with all types of optimization backtesting algo's and any profitable setup just squeeks by with a profit and doesn't dominate the market like Ed supposedly does...