Thread by @TraderLion

Paul Tudor Jones ( @ptj_official ) has amassed a wealth of over $5 Billion, making him one of the most successful traders of all time.

Here are 10 lessons from #PTJ to help you grow & succeed in the market 💪

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@ptj_official “I’m always thinking about losing money as opposed to making money. Don’t focus on making money, focus on protecting what you have.”

When risk management is our main goal in the market, we can make it through any rough periods no matter what.

@ptj_official “Don’t be a hero. Don’t have an ego. Always question yourself and your ability. Don’t ever feel that you are very good. The second you do, you are dead."

Understanding that the market is always right will push you further along than 99% of participants.

@ptj_official “And then at the end of the day, the most important thing is how good are you at risk control. Ninety-percent of any great trader is going to be the risk control.”

It is not a coincidence that the most successful traders are focused on Risk Management. They keep what they make!

@ptj_official “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.

@ptj_official For example, I don’t risk significant amounts of money in front of key reports, since that is gambling, not trading.”

@ptj_official “First of all, never play macho man with the market. Second, never overtrade.”

Overtrading is one of the easiest ways to slowly bleed out any gains you have in the market. Avoiding this bad habit will put you ahead of most.

@ptj_official “It is not that we had any unfair knowledge that other people didn’t have, it is just that we did our homework. People just don’t want to believe that anyone can break away from the crowd and rise above mediocrity.”

True success is built in the nitty gritty, everyday work.

@ptj_official "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.”

@ptj_official “If life ever ceased to be an educational experience. I probably wouldn’t get out of bed in the morning.”

Passion to learn is often times what separates the good from the great.

@ptj_official "I think one of my strengths is that I view anything that has happened up to the present point in time as history. I really don’t care about the mistake I made three seconds ago in the market.

@ptj_official What I care about is what I am going to do from the next moment on. I try to avoid any emotional attachment to a market.”

@ptj_official The main takeaways from this thread should be that to succeed in the market, we need to manage risk first. Without risk control, we will not find consistent returns.

@ptj_official If you found this thread to be helpful and would like to see more, follow @TraderLion_

Let us know what your favorite quote/concept from PTJ is and how you implement it in your trading/investing! 🔽