I'm always thinking about losing money as opposed to making money. Don't focus on making money, focus on protecting what you have
Interpretation
Prioritize safeguarding your existing resources over solely aiming to acquire more wealth.
This quote by Paul Tudor Jones emphasizes the importance of risk management and preservation of capital in the pursuit of financial success. Rather than being consumed by the desire to make new money, one should concentrate on protecting their current assets and minimizing potential losses, which is a strategic approach in the world of investments and wealth building.
In practice
In a financial seminar about investment strategies, you could remind participants of the importance of capital preservation.
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.
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.
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?
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.
It has been just so in all my inventions. The first step is an intuition-and comes with a burst, then difficulties arise. This thing that gives out and then that-"Bugs"as such little faults and difficulties are called show themselves and months of anxious watching, study and labor are requisite before commercial success-or failure-is certainly reached.
The more I help out, the more successful I become. But I measure success in what it has done for the people around me. That is the real accolade.
It never entered my father's mind nor my mind ever to do a job other than at one's best ability.
Become a millionaire not for the million dollars, but for what it will make of you to achieve it.
Start out by making 100 users really happy, rather than a lot more users only a little happy.
Living as we do in an age of noise and bluster, success is now measured accordingly. We must all be seen, and heard, and on the air.
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