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.
Interpretation
Anyone can achieve their dreams if they are truly dedicated and focused.
This quote by Paul Tudor Jones emphasizes the power of determination and commitment. It suggests that both men and women have the potential to accomplish any goal they are passionate about, particularly in the context of pursuing a challenging career like macro trading. The encouragement he provides to his daughters underscores the importance of believing in one's abilities and the significance of setting one’s heart and mind on a particular endeavor.
In practice
In a motivational speech to young graduates, you could say, 'As Paul Tudor Jones said, anyone can achieve their dreams if they set their heart and mind to it.'
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.
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.
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.
I like to solve problems. I know it is a skill set, but it's also an obligation. I grew up with parents who believe that you don't simply complain: you try to find solutions and fix what's in front of you.
Regardless of how you feel inside, always try to look like a winner.
Whatever course you have chosen for yourself, it will not be a chore but an adventure if you bring to it a sense of the glory of striving.
People who make a difference never wait for just the right time. They know that it will never arrive.
You just have to keep on doing what you do. It's the lesson I get from my husband; he just says, Keep going. Start by starting.
Once practice starts, we work hard, and that's the best conditioning there is. Everything counts. Every little thing counts. Run hard, play hard, go after the ball hard, guard hard. If you play soft (what I call signing a 'non-aggression pact' with your teammates), you won't ever get into shape.
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