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7 Habits Of The Highly Effective Trader Named Paul Tudor Jones
The founder of Tudor Investment Corporation is worth $3.2 billion, according to Forbes. At the tender age of 32 in the late 1980s, he was already managing over $125 million.
But his most prominent feat is probably predicting the Black Monday stock market crash of 1987, and tripling his fortune in a day by shorting stocks.
There's video proof of him predicting it - on the documentary PBS filmed about him called "Trader: The Documentary." Unfortunately, Jones had a change of heart after the piece was filmed, and wanted it out of circulation (maybe he bought up all the copies?). It's now extremely rare and hard to find- with the VHS going for up to $155 on eBay and hoarded by traders who watch it in hopes of extracting trading tips.
But fortunately for us, we found a highly detailed summary of the documentary at Order Flow Forex, and gleaned some of Jones' quirky and serious habits while he trades.
Trading at odd hours.
Jones wants to catch volatility in other markets, so he'll wake up at 4 a.m. to trade gold in Hong Kong, or trade forex on a Sunday in New Zealand.
Even when he was on vacation in Switzerland, Jones traded.
Source: Order Flow Forex
Using the Godzilla
Jones likes to a place a Godzilla toy above his trading computers to ward off the bears.
Source: Order Flow Forex
Looking for volatility
Jones looks for and predicts volatility in certain markets in order to make a profit. If he can predict a trend and ride it, then it'll pay off big time. In the documentary, Jones trades Deutsche Marks and crude oil based on what he believes will happen to the markets in lieu of recent news events (an OPEC announcement) and a hunch.
Source: Order Flow Forex
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