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Market Wizard Paul Tudor Jones Trend Following Wisdom

Paul Tudor Jones was featured in Market Wizards and is one of the successful trend followers. In the Market Wizards book there are some interesting quotes & trading tips that are important for all stock traders & trend followers.

Quoting Paul Tudor Jones

“I become quicker and more defensive. I am always thinking about losing money as opposed to making money.”

“Risk control is the most important thing in trading.”

“Don’t be a hero”.

“Don’t have an ego.”

“Always question yourself and your ability”.

“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.”

“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.”

“I never apologize to anybody, because I don’t get paid unless I win.”

“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.”

“Advice: don’t focus on making money; focus on protecting what you have.”

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

Past performance is not necessarily indicative of future performance. The risk of loss in trading futures contracts, commodity options or forex can be substantial, and therefore investors should understand the risks involved in taking leveraged positions and must assume responsibility for the risks associated with such investments and for their results. You should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources.

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