As Paul Tudor Jones Says...

Discussion in 'Psychology' started by Money Trust, Sep 11, 2014.

  1. Wise words indeed, but what about focusing too much on what you could lose and focusing very little on the potential reward? How does one go about finding the balance that would allow them respect risk enough to not be reckless in their trading but at the same time, to not focus so much on what could be lost that it stops one from taking trades at all?
     
    Last edited: Sep 11, 2014
  2. Al_Bundy

    Al_Bundy

    That's a great quote. In my view, you have to focus on what you could lose because that's the part that you can control. If for example you buy a stock for $10, indeed it might go to $40 or $50 and make you a lot of money, but you can't bet your whole account on that hope. First and foremost you protect what you have by putting in a stop loss.
     
  3. its a problem. Im the king of limiting loss. Make Jones look like a drunken spendthrift.

    but finding the balance is damn near impossible
     
  4. %%%%%%%%%%%%%%%%%%%%%%%%%%%
    Good question,Money T
    I like this Paul Tudor Jones quote, even though i dont agree mostly with his politics/redemption;

    ''I read an article on Richard Dennis + it made a big impression on me.....PT Jones told Jack Schwager.

    In other words while i still enjoy ''digesting'' Rich Dennis -jack schwager '' trend info, for many years;
    i also enjoy Remington Farms plan............................................................................................................[Cash grains, cash metals for example will never have the [Rich dennis]returns or risk of leveraged Chicago wheat]. Hope these wise word help
     
  5. Redneck

    Redneck

    Trading…, every person is a one man / one woman team

    We must lean to play offense & defense with equal competency

    Takes time... concerted effort..., and baby steps



    Play defense mode till the trading is working

    Switch to offense mode to get the as much out what the mkt offers - as your current skill allows

    Accepting every day is a work in progress toward improvement

    RN
     
    Turveyd likes this.
  6. There is only one thing you need know from PTJ, one thing only and that is spelled

    VPIN
     
  7. Elaborate
     
  8. Sounds like really simple but sound advice.
     
  9. Banjo

    Banjo

  10. #10     Sep 18, 2014