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Quote by Paul Tudor Jones

“That cotton trade was almost the deal breaker for me. It was at that point that I said, “Mr. Stupid, why risk everything on one trade? Why not make your life a pursuit of happiness rather than pain?”

Quote by Paul Tudor Jones

Author

Paul Tudor Jones

Paul Tudor Jones, born on September 28, 1954, is a renowned trader in the global financial market. Known for his unique trading strategies and risk management techniques, Jones founded Tudor Investment Corporation in 1980, which has grown into one of the largest hedge funds globally over the years. more

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“And then at the end of the day, the most important thing is how good are you at risk control. Ninety-percent of any great trader is going to be the risk control.”

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“If life ever ceased to be an educational experience. I probably wouldn't get out of bed in the morning.”

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“Don't be a hero. Don't have an ego.”

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“First if all, never play macho man in the market. Second, never overtrade. My major problem was not the number of points I lost on the trade, but that I was trading far too many contracts relative to the equity in the accounts that I handled.”

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“Don’t ever average losers. Decrease your trading volume when you are trading poorly; increase your volume when you are trading well. Never trade in situations where you don’t have control. For example, I don’t risk significant amounts of money in front of key reports, since that is gambling, not trading.”

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“Most people are completely unaware of their breath. They violate your space, they have no idea that they have halitosis.”

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“The most important rule is to play great defense, not great offense. Everyday I assume every position I have is wrong. I know where my stop risk points are going to be. I do that so I can define my maximum drawdown. Hopefully, I spend the rest of the day enjoying positions that are going in my direction. If they are going against me, then I have a game plan for getting out.”

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“Fundamentals might be good for the first third or first 50 or 60 percent of a move, but the last third of a great bull market is typically a blow-off, whereas the mania runs wild and prices go parabolic... There is no training, classroom or otherwise, that can prepare for trading the last third of a move, whether it's the end of a bull market or the end of a bear market.”

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“Failure was a key element to my life’s journey.”

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