That cotton trade was almost the deal breaker for me. It was at that point that I said, “Mr. Stupid, why risk everything on one trade? Why not make your life a pursuit of happiness rather than pain?
Interpretation
Focus on pursuing happiness instead of taking unnecessary risks that lead to pain.
In this quote, Paul Tudor Jones reflects on a pivotal moment in his life where he questioned the wisdom of risking everything for a single venture. He emphasizes the importance of prioritizing happiness and fulfillment over the potential pain brought about by high-stakes decisions, advocating for a life guided by meaningful experiences rather than reckless chances.
In practice
During a motivational speech to emerging entrepreneurs, you might use this quote to inspire them to avoid reckless decisions.
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. 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.
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.
I'm always thinking about losing money as opposed to making money. Don't focus on making money, focus on protecting what you have
You can not 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.
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 believe the very best money is made at the market turns. Everyone says you get killed trying to pick tops and bottoms and you make all your money by playing the trend in the middle. Well for twelve years I have been missing the meat in the middle but I have made a lot of money at tops and bottoms.
Abundance is scooped from abundance yet abundance remains.
Never let yourself think that because God has given you many things to do for Himpressing routine jobs, a life full up with duties and demands of a very practical sort---that all these need separate you from communion with Him. God is always coming to you in the Sacrament of the Present Moment. Meet and receive Him there with gratitude in that sacrament; however unexpected its outward form may be receive Him in every sight and sound, joy, pain, opportunity and sacrifice.
The foolish and wicked practice of profane cursing and swearing is a vice so mean and low that every person of sense and character detests and despises it.
There is no such thing as paranoia. Your worst fears can come true at any moment.
Keep the extent of your abilities unknown.The wise man does not allow his knowledge and abilities to be sounded to the bottom, if he desires to be honored at all. He allows you to know them but not to comprehend them. No one must know the extent of his abilities, lest he be disappointed. No one ever has an opportunity of fathoming him entirely. For guesses and doubts about the extent of his talents arouse more veneration than accurate knowledge of them, be they ever so great.
Knowledge can be communicated, but not wisdom. One can find it, live it, be fortified by it, do wonders through it, but one cannot communicate and teach it.
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