Have you heard the controversy over the remarks of Paul Tudor Jones about women traders? In the interview Paul Tudor Jones raises several points about what he sees as essential traits for successful traders. Unfortunately while getting his message across he uses little tact with regard to women traders and makes some sweeping generalisations.
You can see the brief interview that’s causing all the fuss here:
“The Next Decades Will Prove Paul Tudor Jones Wrong” on TraderPlanet
In an article on TraderPlanet I respond to some of the issues he raises, particularly with regard to women.
“As a young girl I was taught to “never say never.” Times are changing and we can’t foretell or project the future with certainty. The most incredible discoveries are constantly being made. The rate of change is speeding up and it’s an advantage to accept change, be adaptive and to capitalize as it happens.” Read more at TraderPlanet.
What Paul Tudor Jones Did Get Right
Paul Tudor Jones raises two points that I agree are essential for forex trading success. They are:
- Controlling your emotions and not letting them impact your trading.
- The need for “repetitions” to get the probabilistic skill set ingrained so that you have the right trading temperament for trading success.
Where my beliefs differ is that I believe controlling emotions is a skill that can be learnt and developed. Every trader, both men and women, can learn to have even level-headed emotions when trading, accompanied with a high level of concentration.
When we’re very young children we wear our emotions on our sleeve, so transparent they are. As we age we become much more balanced and controlled with our emotions as adults. This process shows that we can improve our emotional control and we can further.
It takes acknowledgement that a change is needed, determined practice (Paul calls them “reps”) and a strong determination to change.
Becoming a successful trader is a journey and a process that happens over time. Along the way, YOU will change.
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Let’s get thinking
- What do you think about the comments by Paul Tudor Jones?
- Do you think you can improve your emotional control?
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About the Author: I’m Rachel Hunter, TraderRach, a Forex Trader who helps traders achieve the life they love with forex. Be strategic and design your trading business for sustainable success and have fun! That’s my mission. Join many traders’ gaining the edge with “10 Powerful Lessons for Forex Trading Success” plus other goodies. Years of precious learning specially packaged up for you. My background before trading is as a Chartered Accountant and Chief Financial Officer. I know what it takes to make a trading business rock on. It would give me great pleasure to make a difference to your success.