If you want to become a successful trader, you need to study the best traders, understand exactly which strategies, markets, and edges they are exploiting to reap their trading profits, and how they do that.
How do they enter trades, how do they exit, and how much risk do they allocate per trade…
Once you understand how the competition is working their trading success, then you need to figure out your own way to eliminate the effect this competition has on your own trading returns so that you can reach your own trading goals.
The financial markets are a zero sum game: for every winner there is a loser. If you are not winning, by definition you are either breaking even or losing. To win, you must be doing things better than 95% of all other traders in the market.
Paul Tudor Jones is widely considered one of the worlds greatest traders alive today with an incredible track record spanning close to 30 years. Tudor is not only a great trader but also is regarded as one of the most astute strategists in sizing up future opportunities through radically shifting market conditions.
There have been many articles written about Tudor Jones and about what makes him so good at Trading. The consensus is he has a very different way of looking at the markets from the vast majority of market participants. By understanding different models, being adaptive to changing conditions, he can instantly size up the markets and opportunities and apply his edge to making money.
If you really want to be a leading trader, a leading authority in the financial markets, and to get all the benefits that this entails: more money, more confidence, more respect… you can’t be a second league player.
You need to understand the construct of what’s out there, what’s really going on in the financial markets, and then you have to find a superior way to resolve these conflicts so that you can break away from what everyone else is doing.
The most interesting thing is most people will not do this: they will not break away from the crowd, they won’t take the time to research and apply new strategies.
If you want to have a successful trading operation, if you really want to get to the top, then you must do things differently…
Why most people won’t be different:
- They don’t have the confidence to stand apart
- Fear the potential for failure
- Fear the potential for negative feedback
