Quote

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.

Paul Tudor Jones

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Paul Tudor Jones
Age: 70
Born: 1954
Born: September 28
Businessperson
Hedge Fund Manager
Stockbroker
Trader
Memphis
Tennessee
Paul Tudor Jones II
Ends
Market
Bulls
Bears
Trading
Training
Classroom
Move
Prepare
Lasts
Third
Last
Thirds
Whether
Bear
Traders
Moving
Otherwise
Bull

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As I've told my three daughters, all of whom I've at one time encouraged to go into macro trading, any man or woman can do anything to which they set their heart and mind.
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You can not have significance in this life if it is all about you. You get your significance, you find your joy in life through service and sacrifice - it's pure and simple.
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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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Don't be a hero. Don't have an ego. Always question yourself and your ability. Don't ever feel that you are very good. The second you do, you are dead.
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If I have positions going against me, I get right out if they are going for me, I keep them Risk control is the most important thing in trading. If you have a losing position that is making you uncomfortable, the solution is very simple: Get out, because you can always get back in.
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I spend my day trying to make myself as happy and relaxed as I can be. If I have positions going against me, I get right out if they are going for me, I keep them.
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The secret to being successful from a trading perspective is to have an indefatigable and an undying and unquenchable thirst for information and knowledge.
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The concept of paying one-hundred-and-something times earnings for any company for me is just anathema. Having said that, at the end of the day, your job is to buy what goes up and to sell what goes down so really who gives a damn about PE's?
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We have ripped the humanity out of our companies. It's threatening the very underpinnings of our society.
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There's such an emphasis on making money that we've really taken the humanity out of business.
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It is not that we had any unfair knowledge that other people didn't have, it is just that we did our homework. People just don't want to believe that anyone can break away from the crowd and rise above mediocrity.
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I am more scared now that I was at any point since I began trading, because I recognize how ephemeral success can be in this business. I know that to be successful, I have to be frightened. My biggest hits have always come after I have had a great period and I started to think that I knew something.
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The whole world is simply nothing more than a flow chart for capital.
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First of all, never play macho man with the market. Second, never overtrade.
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I'm always thinking about losing money as opposed to making money. Don't focus on making money, focus on protecting what you have
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I believe that great success is possible in any field — from music to mathematics to macro trading.
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