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I always believe that prices move first and fundamentals come second

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
Second
Move
Moving
Firsts
Come
First
Believe
Prices
Always
Fundamentals

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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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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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I believe the very best money is made at the market turns. Everyone says you get killed trying to pick tops and bottoms and you make all your money by playing the trend in the middle. Well for twelve years I have been missing the meat in the middle but I have made a lot of money at tops and bottoms.
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You adapt, evolve, compete or die.
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Trading gives you an incredibly intense feeling of what life is all about.
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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.
Paul Tudor Jones
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The whole world is simply nothing more than a flow chart for capital.
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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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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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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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There is no more compassionate and effective way to help poor people in New York City than to give to Robin Hood.
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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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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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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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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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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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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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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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First of all, never play macho man with the market. Second, never overtrade.
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I believe that great success is possible in any field — from music to mathematics to macro trading.
Paul Tudor Jones