#1 He has a strong work ethic based on passion for the business.
“The secret to being successful from a trading perspective is to have an indefatigable and an undying and unquenchable thirst for information and knowledge.”
#2 He followed price action not fundamental valuations.
“At the end of the day, your job is to buy what goes up and to sell what goes down.”
#3 He was able to stay humble and stay flexible. He was always ready to admit he was wrong and exit any trade.
“Every day I assume every position I have is wrong.”
#4 He did not believe in adding to a losing trade.
“Losers average losers.” (Posted on the wall of his office).
#5 PTJ adapted, evolved, and stayed competitive in his trading process.
“You adapt, evolve, compete or die.”
#6 He learned the lessons of early failure instead of quitting or repeating the failures.
“Failure was a key element to my life’s journey.”
#7 Paul Tudor Jones was a risk manager first and a trader second.
“At the end of the day, the most important thing is how good are you at risk control.”
#8 “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 simple:Get out,because you can always get back in
#9 Paul Tudor Jones traded smaller during losing streaks.
“When I am trading poorly, I keep reducing my position size. That way, I will be trading my smallest position size when my trading is worst.”
#10 “I look for opportunities with tremendously skewed reward-risk opportunities. Don’t ever let them get into your pocket – that means there’s no reason to leverage substantially. There’s no reason to take substantial amounts of financial risk ever.” 👇
“You should always be able to find something where you can skew the reward risk relationship so greatly in your favor that you can take a variety of small investments with great reward risk opportunities that should give you minimum draw down pain & maximum upside opportunities.”
