【美麗總有消逝時，成就永留人世間； 追求成功，自我成就 。 - (阿拉伯)諺語 】
「投資界交易經典」電子書-中英文CW版 連載↓↓↓
編譯：CopyWinner富智贏家-Smith Pan
THE BEST TRADING
ADVICE FROM 25 TOP
TRADERS
25位頂級交易大師的”交易忠告”：第8位 Paul Tudor Jones
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Quotations：大師語錄
Risk control is the most important thing in
trading. 風險控制是交易中最重要的事情。
- PAUL
TUDOR JONES保羅•都鐸•瓊斯
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Paul Tudor Jones II (born September 28,
1954),
is the founder of Tudor Investment Corporation,
a private asset management company and hedge fund. As of March 2014, he was
estimated to have a net worth of $4.3 billion by Forbes Magazine. 保羅·都鐸·瓊斯二世（生於1954年9月28日），是都鐸投資公司、私人資產管理公司和對沖基金的創始人。福布斯雜誌報導顯示，截至2014年3月，他估計有身家4.3個十億美金。
Markets have consistently experienced
“100-year events” every five years . While I spend a significant amount of my
time on analytics and collecting fundamental information, at the end of the
day, I am a slave to the tape and proud of it .
I see the younger generation hampered by the need to understand and
rationalize why something should go up or down . Usually, by the time that becomes
self-evident, the move is already over . 每五年市場會經歷持續的“百年賽事”。雖然我花顯著大量的時間去分析和收集基礎信息，在一天結束的時候，我過的是運轉磁帶盤般的奴隸生活，但我以此為榮。行情捉摸不定，為什麼它要上升或下降的原因這件事，我看到了年輕一代思考被阻礙了，僅為了尋求合理化解釋並因自身需要而去理解市塲行情。通常情況下，行情待時間經過昭然若揭之際，走勢悄然移動而行情業已經結束。
That cotton trade was almost the deal
breaker for me . It was at that point
that I said, ‘Mr . Stupid, why risk everything on one trade? Why not make your
life a pursuit of happiness rather than pain?’ If 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 . 棉花交易幾乎對我來說是大忌。正是在這一點上，我說，傻先生，為什麼要投入一切去冒風險在一個交易上呢？為什麼不能讓你的生活追求幸福，而不是痛苦“如果有人不苟同我的堅定立場，則我馬上離塲。如果他們要我，我讓他們知道...風險控制是交易中最重要的事情。如果你有一個讓你不愉快的一個失敗的倉位，解決的方法很簡單：砍倉退出市塲：因為你依然可以回到市塲上重新出發。
I look for opportunities with tremendously
skewed reward-risk opportunities . Don’t
ever let them get into your pocket – that means there’s no reason to leverage
substantially . There’s no reason to take substantial amounts of financial risk
ever, because you should always be able to find something where you can skew
the reward risk relationship so greatly in your favor that you can take a
variety of small investments with great reward risk opportunities that should
give you minimum draw down pain and maximum upside opportunities . 我期待著極大化投報風險的機會。永遠不要讓他們進入你的口袋裡 - 這意味著我們沒有理由大幅地利用槓桿交易。也沒有理由冒著大量的財務風險，因為你應該總是能夠找到的東西在這裡你可以對你有利，所以大大扭曲了風險和收益的關係，你可以冒著有很大的交易風險和收益機會而採取各種槓桿化的小額投資，市塲給予你操作績效低下的最小損失痛苦和績效上升的最大的投報機會。
I believe the very best money is made at
the market turns . Everyone says you get
killed trying to pick tops and bottoms and you make all your money by playing
the trend in the middle . Well for twelve years I have been missing the meat in
the middle but I have made a lot of money at tops and bottoms . 我相信最好的金錢報酬是在市場流通輾轉賺來的。大家都說你試圖猜頭和摸底而差點陣亡，然而你卻賺走了整個波段走勢之間所有的錢。好了，曾經有十二年之久，我一直錯過在波段震蘯中間的良機，但我已經在頂部和底部賺了很多錢。
to
be continued ...待續...
REFERENCES : ivanhoff.com, wikipedia.org, forbes.com,
forbes.com
EditEd by brandon Clay布蘭登·克萊
( Chinese
translation & Editor中文翻譯&編輯者：CopyWinner富智贏家-Smith Pan)
