The famous shot of Paul Tudor Jones in his office mentioned in Part 2. Notice the sign behind him, “losers average losers.” It means, Losers (unsuccessful traders) average “down” their losing trades by buying more of something they already own at a higher price, thus, creating a lower average cost. It is a quick way to lose a lot of money. A Trend Follower (would leave his/her ego out of it), admit they’re wrong, and get out – thereby minimizing losses. Tudor Jones is Founder of Robin Hood Foundation.
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