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.
Simplicity, patience, compassion._x000D_ _x000D_ These three are your greatest treasures._x000D_ _x000D_ Simple in actions and thoughts, you return to the source of being._x000D_ _x000D_ Patient with both friends and enemies, you accord with the way things are._x000D_ _x000D_ Compassionate toward yourself, you reconcile all beings in the world.
Guilt is only another way of avoiding informed action.
You are not now to think what's best to do, _x000D_ As in beginnings, but what must be done, _x000D_ Being thus enter'd; and slip no advantage _x000D_ That may secure you. Let them call it mischief; _x000D_ When it is past, and prosper'd , 'twill be virtue.
Later, she would remember these years, and realize with astonishment that she had, by fifteen, decided on most of the assumptions she would carry for the rest of her life: that people were essentially not evil, that perfection was death, that life was better than order and a little chaos good for the soul. Most important, this life was all. Unfortunately, she forgot these things, and had to remember them the hard way.
You are your own highest authority. Do not place your source of authority outside of you. Go within to see if the truth you've found is in harmony with the truth you find in your heart.
My whole life I have been complaining _x000D_ that my work was constantly interrupted, until I discovered _x000D_ that my interruptions _x000D_ were my work.
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