Ed Seykota

Card Essentials

Ride Your Winners
Cut Your Losses
Manage Your Risks
Use Stops
Stick to The System
File the News

Whipsaw Song:

You get a whip and I get a saw, honey
E7
You get a whip and I get a saw, babe
A A7
You get a whip and I get a saw
D7
One good trend pays for ‘em all.
A E7 A
Honey, trader, ba-by mine.
Banjo (Ride Your Winners):
What do we do when we catch a trend, honey … etc.
We ride that trend right to the end.
Mandolin (Cut Your Losses):
What do we do when we show a loss, honey … etc.
We give that dag-gone loss a toss.
Fiddle (Manage Your Risk):
How do we know when our risk is right, honey … etc.
We make a lot of money and we sleep at night.
Guitar (Use Stops):
What do we do when the price breaks through, honey … etc.
Our stops are in so there’s nothing to do.
Bass (Stick to the System):
What do we do when a draw down comes, honey
What do we do when it gets real big, babe
What do we do when it’s even bigger …
We stick to the plan and pull the trigger.
Banjo (File the News):
What do we do with a hot news flash, honey … etc.
We stash that flash right in the trash