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Paul Tudor Jones: Best Quotes

I always believe that prices move first and fundamentals come second

– Paul Tudor Jones

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.

– Paul Tudor Jones

“One problem with failure. It can stay with you for a very long time.”

– Paul Tudor Jones

The most important rule is to play great defense, not great offense. Everyday I assume every position I have is wrong. I know where my stop risk points are going to be. I do that so I can define my maximum drawdown.

– Paul Tudor Jones

I’m always thinking about losing money as opposed to making money. Don’t focus on making money, focus on protecting what you have.

– Paul Tudor Jones

I think one of my strengths is that I view anything that has happened up to the present point in time as history. I really don’t care about the mistake I made three seconds ago in the market. What I care about is what I am going to do from the next moment on. I try to avoid any emotional attachment to a market.

– Paul Tudor Jones

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

Fundamentals might be good for the first third or first 50 or 60 percent of a move, but the last third of a great bull market is typically a blow-off, whereas the mania runs wild and prices go parabolic… 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

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.

– Paul Tudor Jones

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?

– Paul Tudor Jones

Ninety-percent of any great trader is going to be the risk control.

– Paul Tudor Jones

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.

– Paul Tudor Jones

Intellectual capital will always trump financial capital.

– Paul Tudor Jones

“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.”

– Paul Tudor Jones

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

“A good system may be able to trade more markets effectively than a good trader because it has the advantage of unlimited computing power.”

– Paul Tudor Jones

“Losers average losers.”

– Paul Tudor Jones

I always believe that prices move first and fundamentals come second.

– Paul Tudor Jones

“Always maintain your sense of confidence, but keep it in check.”

– Paul Tudor Jones

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.

– Paul Tudor Jones

“The idea that you can’t beat the markets is a frightening prospect. That is why my guiding philosophy is playing great defense.”

– Paul Tudor Jones

“By watching my first boss and mentor Eli Tullis, I learned that even though markets look their very best when they are setting new highs, that is often the best time to sell. He instilled to me the idea that, to some extent, to be a good trader, you have to be a contrarian.”

– Paul Tudor Jones

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.

– Paul Tudor Jones

“Don’t be too concerned about where you got into a position. The only relevant question is whether you are bullish or bearish on the position that day.”

– Paul Tudor Jones

Every day I assume every position I have is wrong.

– Paul Tudor Jones

First of all, never play macho man with the market. Second, never overtrade.

– Paul Tudor Jones

“Every trade decision is the product of some problem-solving process – human or otherwise.”

– Paul Tudor Jones

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

Trading is very competitive and you have to be able to handle getting your butt kicked.

– 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

You learn more from your losses, than from your gains.

– Paul Tudor Jones

When you get a range expansion, the market is sending you a very loud, clear signal that the market is getting ready to move in the direction of that expansion.

– Paul Tudor Jones

“Everything gets destroyed a hundred times faster than it is built up. It takes one day to tear down something that might have taken ten years to build.”

– Paul Tudor Jones

“I’ve done really well on the short side. There’s nothing more exciting than a bear market. But it’s not a wonderful way for long-term health and happiness.”

– Paul Tudor Jones

Trading gives you an incredibly intense feeling of what life is all about.

– Paul Tudor Jones

“Everything happens for a reason.”

– Paul Tudor Jones

After awhile size means nothing. It gets back to whether you’re making 100% rate of return on 10k or 100 million dollars. It doesn’t make any difference.

– Paul Tudor Jones

“When I trade, I don’t just use a price stop, I also use a time stop. If I think a market should break, and it doesn’t, I will often get out even if I’m not losing any money.”

– Paul Tudor Jones

The whole world is simply nothing more than a flow chart for capital.

– Paul Tudor Jones

“I said, ‘Mr Stupid, why risk everything on one trade? Why not make your life a pursuit of happiness rather than pain?’”

– Paul Tudor Jones

“Failure will give you a tattoo that will stay with you your whole life, and sometimes it’s a really good thing.”

– Paul Tudor Jones

Markets trend only about 15 % of the time; the rest of the time they move sideways.

– Paul Tudor Jones

“While I spend a significant amount of my time on analytics and collecting fundamental information, at the end of the day, I am a slave to the tape and proud of it.”

– Paul Tudor Jones

At the end of the day, the most important thing is how good are you at risk control.

– Paul Tudor Jones

“I attribute my own success to the Elliott Wave approach.”

– Paul Tudor Jones

Sometimes failure is merely chasing you off the wrong road and onto the right one.

– Paul Tudor Jones

“I can’t say that I have been successful because I am better than anybody else. I was in the right place at the right time.”

– Paul Tudor Jones

“If investing was easy, if there was one formula, one way to do it, we’d all be zillionaires.”

– Paul Tudor Jones

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.

– Paul Tudor Jones

“I don’t risk significant amounts of money in front of key reports, since that is gambling, not trading.”

– Paul Tudor Jones

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.

– Paul Tudor Jones

“I have a mental stop. If it hits that number, I am out no matter what.”

– Paul Tudor Jones

I believe that great success is possible in any field — from music to mathematics to macro trading.

– Paul Tudor Jones

“I have always been a big believer in leverage.”

– Paul Tudor Jones

You cannot 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.

– Paul Tudor Jones

“I know from studying history that credit eventually kills all great societies.”

– Paul Tudor Jones

You adapt, evolve, compete or die.

– Paul Tudor Jones

“The single most important things that you can do is diversify your portfolio. Diversification is key, playing defense is key, and, again, just staying in the game for as long as you can.”

– Paul Tudor Jones
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