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.
The present moment is the substance with which the future is made. Therefore, the best way to take care of the future is to take care of the present moment. What else can you do?
I say don't overreact; cool your jets. Focus on things that you can control: your business, your employees' welfare, your guests, and the quality of the product that you dish up. Do that, keep your chin down, pay attention to business, and the sun will come up tomorrow. That's the way I figure it.
There's no such thing as turning back the hands of time, and it makes me crazy that we live in a society where that's sold to women—that we're supposed to believe that if we're getting older, we've failed somehow, that we have failed by not staying young. I wish that women would let other women age gracefully and allow them to get older and know that as we get older, we become wiser.
Even when we cannot see the why and wherefore of God's dealings, we know that there is love in and behind them, and so we can rejoice always.
You possess only whatever will not be lost in a ship wreck.
Even the knowledge of my own fallibility cannot keep me from making mistakes. Only when I fall do I get up again.
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