Paul Tudor Jones: At the end of the day, the most important thing is how good are you at risk control.
“Every day I assume every position I have is wrong.” – Paul Tudor Jones
“Don’t ever feel that you are very good. The second you do, you are dead.” – Paul Tudor Jones
“Never trade in situations where you don’t have control.” – Paul Tudor Jones
“Where you want to be is always in control, never wishing, always trading,
and always, first and foremost protecting your butt.”
Paul Tudor Jones’ “Do the trade that makes you puke”
“The secret to being successful from a trading perspective is to have an indefatigable
and an undying and unquenchable thirst for information and knowledge.”
Paul Tudor Jones: “I missed all the meat in the middle, and made money on market turns.”
“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.”
Paul Tudor Jones: Failure was a key element to my life’s journey.
“Failure, a lot of times, is the fire that forges the steel for success,” @RobinHoodNYC’s founder Paul Tudor Jones.
Paul Tudor Jones: “Losers average losers” ……..NEVER NEVER NEVER NEVER NEVER add to a losing trade
Submitted by Ian Whyte UK
Risk small amounts of losses to make large amounts in profits.
Long hours and a strong work ethic are keys to being a successful trader.
The stock market moves in patterns and in cycles. Past price patterns repeat themselves due to human emotions.
It is okay to skip a trade if you can’t get your entry price.
A momentum move does not just stop, it takes time to roll over.
It is possible to trade successfully by gaming the actions of other traders.
Be aggressive at high probability moments.
Always stay in control of your trading and manage risk.
Focus on risk management as the #1 priority in trading.
Having the right mindset during a big loss that it is just temporary is the key to coming back and being successful.
Letting profits run is a great plan at times.
Great money managers trade with passion.
Even Market Wizards are never sure if they will win when entering a trade.
When the top in a market is hit, there is a lot of money to be made shorting as panic selling sets in.