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Ed Cicotta, the father of computer trading

Ed Cicotta, the father of computer trading

Everyone knows that the forex market has changed dramatically in recent decades. Technological advances have changed the way  Forex  is traded and taught, but few people recognize the individuals behind these changes. Have you ever heard of Ed Cikota, the trader who brought IT techniques to  Forex trading  ? He is in the same category as Warren Buffett, George Soros or William O’Neill in terms of the profits he made from this market. Undoubtedly, he can be counted among the gods of this market.

Edward Arthur Sikota was born in 1946 in the Netherlands, but in the early years of his life, he and his family immigrated to the United States of America. His father was a stock trader and eventually became his son’s first trading coach. Ed made his first trade at the age of five in Portland, Oregon.

His father gave him a gold medal. Ed traded the medal to his friend for five magnifiers, and by doing so, Ed felt that he had entered a new phase of life. He also became interested in technical analysis very soon. When he was nine, he had a room full of old radios, test equipment, and oscilloscopes. He was interested in creating and displaying waves. When he reached the age of 13, his father showed him how to buy stocks and explained that when the price breaks the upper level of the zone it is in, you should enter a buy trade and when the price crosses the lower level of this zone, Proceed to sell. And that’s how Ed Cicotta got his start.

In 1969, he graduated from MIT University with a bachelor’s degree in electrical engineering and management. In this situation, an article by an analyst named Richard Donshian reached him and he became very interested in it. Donshian explained in this article how to get good profits from crossing two moving average lines (moving edge) with time periods of 5 and 20.

At that time, he was hardly attracted to the idea of ​​building a mechanical and automatic money printing machine. For this reason, he bought the privilege of using a computer service and devoted his afternoons to punching the Wall Street Journals and in this way he tried to check the results of using the Doncian method. He evaluated various parameters and realized that the combination of some of them can be useful.

He also found that long-term moving averages perform very well while reducing the cost of trading short-term systems. This is how future traders got acquainted with technical analysis.

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Ed Cicotta began his trading career in the 1970s when he was employed by a major broker. It was in this company that Ed designed one of the first trading systems for capital management in the futures market. Ed also went to the company on weekends so that he could take tests using the IBM 360/65 system. He punched the cards and did the related processing in Fortran 4. He managed to test 4 different systems with 50 categories of different parameters on eight types of goods using data from a decade ago. This work lasted for six months.

Finally, the broker’s management prepared a product from his research. The problem was that his manager was not able to follow the system and at the same time was very interested in optimizing it to get more commissions. Ed told them they better be profitable for their customers. But in the end, his manager refused to pay him 10% of the commission earned from this system, so Ed decided to leave.

At the age of 23, Ed Cicotta left the company and alone managed almost 6 accounts with a capital of about 10,000 to 25,000 dollars. By mid-1988, one account under his supervision that had started with $5,000 had grown to more than 250,000 percent. If the withdrawals made from the account were balanced, the growth of the account would reach several million percent. These results are extraordinary. Keep in mind that these results came after more than a decade, so it can’t be attributed to chance or coincidence.

Ed Cicotta is a stickler for the rules. Everything he does is based on the rules he has set for his transactions. It is through following the rules that he maintains his composure and composure even in adverse conditions.

Cikota’s three important rules in trading

1- Loss reduction

Your primary task as a trader is to protect your initial capital. Profitability is the second priority. Taking a loss means accepting it as soon as the market moves against your prediction.

If you wait for the market to come back and move in your desired direction, you will fail. The best way to accept your losses is to have a trading plan. Run this program with small trading volumes and you will quickly overtake many other traders.

2- Maximum use of successful transactions

Trading does not mean having a 70 or 80% success rate in trading. Rather, it means how much profit you make in case of correct prediction and how much you lose in wrong transactions.

No two successful market traders have the same performance. Each has its own method and different opinions about the market,  technical  and  fundamental analysis  and even  capital management  . However, they all agree on one rule. All of them seek an asymmetric profit-loss ratio. In other words, the profit limit should be more than the loss limit. And the only way to achieve an asymmetric profit-loss ratio is to make the most of successful trades.

3-   Keep the volume of transactions low

One of the ways to keep your cool when trading is to keep the trading volume low. If you take too much risk in a trade, you will definitely be afraid or greedy.

Open an account with less than 10% of your net capital. Risk less than 1% of account balance per trade. With this, the amount of fluctuations in the account is limited compared to the main capital. Note that according to his rules, the risk of each transaction must be less than 1% of the account balance. In this case, you allow yourself the possibility of failure in transactions without losing the entire account balance or losing your peace of mind.

Ed Cicotta also takes into account a percentage of his total net worth, which includes cash and all liquid assets. According to his rules, each person is only allowed to open a trading account with less than 10% of his total net capital.

It is very important to trade with money and capital that you don’t worry about losing. In other words, invest part of your capital in transactions that you do not need to pay rent, utility bills, food and other necessities.

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