The Van Trump Report

My Rant for the Week…

 Again, as I’ve tried to preach for years, just like the best traders and investors I’ve had the privilege to be around, it’s all about building a plan that’s right for you and your emotional well-being then being able to stay disciplined to that plan when the waters start to get really rough. Everyone should spend a lot of time thinking about that… I constantly ask myself, did I get lucky on that trade or did I execute and stay disciplined to my well-thought-out plan? 

How about last time back in 2010 and 2012, did you actually have a plan in place that you stayed disciplined with to bank those profits? And then we’re able to continually and consistently reap good profits even after the market turned south? Remember great traders and investors make money in both bull and bear markets. It’s the plan and the discipline that makes consistent money. 

It’s great to be lucky… but as I tell my kids it’s super important in life to be able to identify if you just got lucky or have a good plan and are practicing great discipline. Why do you think so many lottery winners end up broke or killing themselves? Because they never had a plan or any discipline before they came into their windfall of money. All the money simply added gas to the fire and exposed more of the problem areas as the wheels started to turn faster and faster. Just like when you have a wheel out of balance or alignment problem on the pickup truck. It’s not much of a problem when you are only going 10mph but bring her up to 75mph on the highway and watch what happens. 

I hate to get on a rant, but I just don’t want to see good folks get hurt by thinking they have “skill” rather than just being “lucky”. And if you come to the conclusion you just got lucky and realize you don’t have much of a plan or a lot of discipline, then you best get yourself some… My granpa always said, “you can get lucky and make some big money, but it’s a well-thought-out plan and a great deal of discipline that keeps the money and builds a goodlife. Money made without discipline can often be a sheep in wolf’s clothing.”

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