Video: Trader, Paul Tudor Jones

marketsurfer · Mar 30, 2011

Quote from eudaemon:

I met PTJ once. He's paranoid.

You are an idiot for saying this.

Do you think someone paranoid ( in any way ) would do this?

<iframe title="YouTube video player" width="480" height="390" src="http://www.youtube.com/embed/GV4RJq2uiWA" frameborder="0" allowfullscreen></iframe>

eudaemon · Mar 30, 2011

Quote from marketsurfer:

You are an idiot.

All standard tests disagree. If I were an idiot, you wouldn't be capable of writing, you would be something like an amoeba or something like that.

RCG Trader · Mar 30, 2011

Quote from Gabfly1:

What is the spread you typically get for the spot Euro? Also, are you saying that the difference in your not blowing up in spot but potentially blowing up in futures is the spread? Perhaps I not reading it correctly.

0.6 pips or better in the euro.

No, if you max out on futures, at least when I traded them, and you are wrong, you have to reload if the hit is bad enuf. If I bet the farm on spot and miss badly, I know I can come back on the next set-up. Stress if eliminated. No reloading, no blowing up.

This has pros and cons. Yesterday I had a 50% day. No patting on the back tho, cause my next bet the farm trades could pull me underwater, it has not happened yet, but I never want to be "fooled by randomness"

RCG Trader · Mar 30, 2011

Quote from Pekelo:

Anybody noticed that their biggest loser (6 mill) was bigger than their biggest winner (5 mill)??

Also, that winning day was at the end of the documentary, filmed months later. It looked like they wanted to finish on an upbeat, and they called the crew: "Hey we have a huge winning position on, come out and film it."

He stated in the vid that he had recovered his 6mil loss with earlier trades and this 5 mil gain was icing on the cake, I know how he did this. If I am right, when he took that hit, he began nibbling rather than swinging for the fences, then when he was back where he needed to be, he bet the farm again, I trade exactly the same way. Just a guess of course.

RCG Trader · Mar 30, 2011

Quote from Gabfly1:

Pekelo, regardless of the circumstances, it was a video worth seeing, if only to illustrate that trading can be messier than many people believe. Also, I suspect that PTJ has grown as a trader since that time, judging by size and reputation. All told, I have serious respect for the guy. And from what I gather, he seems to be a man of notable character, with his philanthropy being one example.

(Admittedly, I'd be more than a bit surprised if he still used Gann and Elliot stuff. But, hell, who knows. In any event, as he is often cited as having said, it's largely about risk control.)

If you study Gann, he is about risk control as well. His advice is to never risk more than 10% in any one trade. That is a max loss, tho. You should know if you are wrong well before then if you use all the rules.

Gabfly1 · Mar 30, 2011

Quote from RCG Trader:

...Yesterday I had a 50% day. No patting on the back tho...

A 50% day yesterday, and 30% days are not unusual for you? May I ask how you are calculating these percentage returns?

Also, are you...God?

eudaemon · Mar 30, 2011

Quote from RCG Trader:

If I am right, when he took that hit, he began nibbling rather than swinging for the fences, then when he was back where he needed to be, he bet the farm again, I trade exactly the same way. Just a guess of course.

Exactly. You go for the jugular only when you are at your best.

RCG Trader · Mar 30, 2011

Quote from marketsurfer:

You are an idiot for saying this.

Do you think someone paranoid ( in any way ) would do this?

<iframe title="YouTube video player" width="480" height="390" src="http://www.youtube.com/embed/GV4RJq2uiWA" frameborder="0" allowfullscreen></iframe>

People are envious of others Surf. Remember the book, Envy, a theory of social behavior? A good read, btw.

Gabfly1 · Mar 30, 2011

Quote from RCG Trader:

If you study Gann, he is about risk control as well. His advice is to never risk more than 10% in any one trade. That is a max loss, tho. You should know if you are wrong well before then if you use all the rules.

I think risking 10% of pre-entry capital on a single trade as a matter of course is insane, or right next to it. Also, if you "know you're wrong well before then if you use all the rules," then that implies you get out sooner. Which means you are not actually risking 10% after all. A bit circular, don't you think?

eudaemon · Mar 30, 2011

Quote from RCG Trader:

People are envious of others Surf. Remember the book, Envy, a theory of social behavior? A good read, btw.

Who said paranoid was an insult or envy?. It was more of a compliment.

Do I envy PTJ?. Yes. Sure. A little at least.