Paul Tudor Jones, or PTJ as he is fondly known as, is one of the most famous and successful traders of all time. He rose to fame during the financial market crash of October 1987, where he made an incredible return of 62 percent whereas traders around him lost big. His success and fame has a small, but important role in the rise in popularity of hedge funds.
He went on to become a founder of the hedge fund Tudor Investment Corporation. His trading philosophy is to never take big risks and never leverage’s up substantially. He believes that the key to success in trading is sound money management. He decreases his position size when he is doing poorly and increases it, when he is trading well and making money.
“At the end of the day, the most important thing is how good you are at risk control” – These are wise words to live by for a trader. He is also as seasoned trader with just the right amount of risk management skills.
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