Acclaimed trader and hedge fund investor Paul Tudor Jones built his fortune making smart decisions that were off the beaten path of the herd.
He is also famous for having predicted Black Monday (the 1987 crash). Here are 12 great quotes from Paul Tudor Jones:
1. “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. “Intellectual capital will always trump financial capital.”
3. “Every day I assume every position I have is wrong.”
4. “Losers average losers.”
5. “You adapt, evolve, compete or die.”
6. “Trading is very competitive and you have to be able to handle getting your butt kicked.”
7. “The whole world is simply nothing more than a flow chart for capital.”
8. “At the end of the day, the most important thing is how good are you at risk control.”
9. “Always think of your entry point as last night’s close.”
10. “I will keep cutting my position size down as I have losing trades. 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.”
11. “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.”
12. “Markets trend only about 15 percent of the time; the rest of the time they move sideways.”
Thanks for reading and have a great week.
Read more from Steve on his blog NewTraderU.
Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.