Donโt 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 donโt have control. For example, I donโt risk significant amounts of money in front of key reports, since that is gambling, not trading.
Paul Tudor JonesIf life ever ceased to be an educational experience. I probably wouldn't get out of bed in the morning.
Paul Tudor JonesIf I have positions going against me, I get right out; if they are going for me, I keep them Risk control is the most important thing in trading. If you have a losing position that is making you uncomfortable, the solution is very simple: Get out, because you can always get back in.
Paul Tudor Jones