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.
Stop telling people how far they have left to go. Instead tell them how far they’ve come.
If you find yourself saying 'I can't do something', but you know it in your heart of hearts that if you do it, you're going to grow, you're going to be a better person, it's going to contribute to your family or to your kids or to something that matters, and you keep saying 'I can't do it,' there is no question—you must do it. You don't discuss it anymore. You just take immediate action... You do what's necessary.
The only limits to the possibilities in your life tomorrow are the buts you use today.
My father could have been a great comedian, but he didn't believe that that was possible for him, and so he made a conservative choice. Instead, he got a safe job as an accountant. When I was 12 years old, he was let go from that safe job, and our family had to do whatever we could to survive. I learned many great lessons from my father, not the least of which was that you can fail at what you don’t want, so you might as well take a chance on doing what you love.
Hard work is a prison sentence only if it does not have meaning. Once it does, it becomes the kind of thing that makes you grab your wife around the waist and dance a jig.
I work extremely hard doing what I love, mainly to ensure that I don't have to work extremely hard doing what I hate.
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