Paul Tudor Jones – A remarkable Trader.

Do a google search for more information on this extraordinary trader and human being. I am giving some thoughts on trading from a blog. Read the full article here.

-Never play macho man with the market. Never over-trade relative to the equity in your account
-”Now I spend my day trying to make myself as happy and relaxed as I can be. If I have positions going against me, I get right out; if they are going for me, I keep them”
-Be quicker and more defensive. Always think about losing money as opposed to making money. He always has a mental stop. If it hits that number, he is out no matter what.

-Try to picking turning points. Keep trying, but cut position size down if trading poorly (after successive losing trades)
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
–If you have losing position that is making you uncomfortable, the solution is very simple: Get out, because you can always get back in.
-His investment philosophy is “I don’t take a lot of risk, I look for opportunities with tremendously skewed reward-risk”
The secret to being successful from a trading perspective is to have an indefatigable and an undying and unquenchable thirst for information and knowledge.