A Quote by Paul Tudor Jones
First if all, never play macho man in the market. Second, never overtrade. My major problem was not the number of points I lost on the trade, but that I was trading far too many contracts relative to the equity in the accounts that I handled.
Related Quotes
First of all, never play macho man with the market. Second, never overtrade.
Too many countries that do not play by the free trade rules of the World Trade Organization - including, notably mercantilist China and monopolist Saudi Arabia - have been allowed in, to the detriment of both the WTO and the liberal trading environment it is supposed to sponsor.
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.
I was in the equity-trading department at Merrill Lynch. I was there in 1987 when the market crashed.
The last thing a Trump administration plans is a trade war. The issue simply is getting a decent trade deal with each of the major trading partners.
It is foolhardy to make a second trade, if your first trade shows you a loss. Never average losses. Let this thought be written indelibly upon your mind.
I think the customers that Robinhood will get at the beginning are younger, smaller accounts that are too hard for Schwab and E-trade to make money off anyway. They've neglected that market.
The Googly thing is to launch products early on Google Labs and then iterate, learning what the market wants - and making it great. The beauty of experimenting in this way is that you never get too far from what the market wants. The market pulls you back.
I'd never trade my old girl for all the money in the world. I'd never trade my daughter Toya for all the money in the world. I'd never trade my only boy for all the money in the world. I put my last name first!
The first principle of the market economy is that it is comprised of many small buyers and sellers, which implies a substantial degree of equity. Another fundamental market principle is that costs are internalized in the producer's price.
I was a chief justice. And before that, I was a district court judge, handled major felonies, including capital murder cases; and I handled major civil litigation.
I formed, in early life, two purposes to which I have inflexibly adhered, under some very strong pressure from warm personal friends. They were, first, never to be a second in a duel; and, second, never to go security for another man's debts.
The banking business is no favorite of ours. When assets are twenty times equity - a common ratio in this industry - mistakes that involve only a small portion of assets can destroy a major portion of equity. And mistakes have been the rule rather than the exception at many major banks.
Women have always had equal importance onstage, and working with them must have altered my sensibilities. I've never felt sensitive to the whole issue, because being macho has never been a problem with me.
If a betting game among a certain number of participants I played long enough, eventually one player will have all the money. If there is any skill involved, it will accelerate the process of concentrating all the stakes in a few hands. Something like this happens in the market. There is a persistent overall tendency for equity to flow from the many to the few. In the long run, the majority loses. The implication for the trader is that to win you have to act like the minority. If you bring normal human habits and tendencies to trading, you'll gravitate toward the majority and inevitably lose.
Every time a player goes out to ply his trade he's got to play from the ground up - from the soles of his feet right up to his head. Every inch of him has to play. Some guys play with their heads. That's O.K. You've got to be smart to be Number One in any business. But more important, you've got to play with you heart - with every fiber of your body. If you're lucky enough to find a guy with a lot of head and a lot of heart, he's never going to come off the field second.
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