"I always think about losing money as opposed to making money," he said.
"Back then, in that cotton trade, I had a vision of July going to 89 cents and I thought about all the money I was going to make on 400 contracts," he said. "I didn't think about what I could lose."After the trade, Jones was so beaten down that he almost threw in the towel. In the years following, Schwager said Jones went on to crush the market. His cotton trade served as a prime example of what could go wrong if position sizing and ego get the better of him.
Without further ado, here are the seven trading rules that Jones lives by. All quotes are from Jones.2. "Decrease your trading volume when you are trading poorly; increase your volume when you are trading well."For context, Jones says he never makes big trades before the release of "key reports."
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Drinking Budweiser in the early morning trading duetchmarks. Best part of Trader.
United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stretched Ferrari 360 Modena limousine asks $287,000 — see inside - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. 😮 Nah ! CarsInsider Rubbish!
Source: BusinessInsider - 🏆 729. / 51 Read more »
Inside the 20,000-member trading community started by college students - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Multifamily real-estate investing strategy, how to use bridge loans - Business InsiderBruce Fraser outperformed the S&P 500 by nearly 286% as a hedge fund manager before he became a full-blown real-estate investor. Here's the strategy he's using to multiply his over 1600 multifamily units Amazing Zed_Blockchain
Source: BusinessInsider - 🏆 729. / 51 Read more »
3 investing mistakes I see over and over as a financial planner - Business InsiderCertified Financial Planner Martin A. Scott says clients should always ask their advisers, 'Is the investment advisory fee just to manage my portfolio or does it also include financial planning services?' Also, are they a fiduciary. If you are a business owner, you should have a Facebook business page. It is an essential part of your marketing strategy, 80% of social media users prefer to connect with brands on Facebook
Source: BusinessInsider - 🏆 729. / 51 Read more »
Peter Thiel invested in Alexander Liegl and Layer1 - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Applied math and philosophy - a truly interesting young Man. A stoic maths nerd.
Source: BusinessInsider - 🏆 729. / 51 Read more »