I was massively inspired by Ed Seykota's story when I read market wizards. Does anyone know what he's up to now? I heard that he's left Galt Capital. Is he still trading? Is he still acheiving the returns that were outlined in the Wizards books? Jo
It's true, Ed Seykota is no longer with Galt Capital. I'm not sure how actively he's currently trading. He still does seminars and coaches. I cannot speculate on his fees, but I do know that he only takes on clients who are interested in working with him over a longer period of time.
I had never seen a picture of ed seykota before... now I have even seen him sing a great song. You do get what you want out of ET.
He uses a 2 part fitness function to select an optimal equity curve. It scores results by rewarding trades which contribute profits. While bliss simultaneously penalizes a sub group of profitable trades, as undesirable for creating variance from a straight line.
Proven fact: your trading account will grow fastest using the Kelly fraction, which is based on trade returns, not 'bliss' in any form. Most traders get it wrong by using the conventional formula (average gain, average loss, winrate). The formula you need is much more detailed than that. Furthermore it can be updated with each new trade (adaptivity), making it much more powerful than the conventional formula.