Vince Lombardi is perhaps the most famous coach in American sports history. In 1959 he took over as a coach and general manager of the Green Bay Packers and in a few short years created a football dynasty that would win five championships in the next decade. Vince Lombardi has many famous quotes attributed to him. When you read a collection of Lombardi quotes a picture is painted of a man that was relentlessly driven, was willing to make sacrifices to obtain success and one that would persevere through all hardships to obtain his goal.
“The price of success is hard work, dedication to the job at hand,
and the determination that whether we win or lose, we have
applied the best of ourselves to the task at hand”
“The greatest accomplishment is not in never falling, but
in rising again after you fall.”
“Practice does not make perfect. Only perfect practice
makes perfect.”
As Lombardi said, it is not just about putting in hard work and practice. If you truly want to “catch excellence” then as you are learning and preparing you will use this time to become the best investor you can be. Become serious about your chosen field and each time you sit down to study or practice a technique then approach it with the goal of becoming perfect at what you are studying. If there is something you don’t quite understand, take the time to dig deeper until you do understand. If you are practicing a stock trade, then do it time and time again until it becomes second nature to you. If you are going to make a presentation to potential investors then take the time to make your presentation perfect. At times this may grow tedious but it is a small price to pay for the potential rewards that await you.
One could analyse the life of Lombardi and argue that winning was secondary to the process of preparation and the dedication, perseverance, and discipline that went into this process. One could also argue that success is the inevitable outcome of this process. Achieving financial freedom may be your end goal and by preparing for each of your game day moment like Lombardi would, makes you far more likely to reach that goal.
Chart of the Day
SPY
After the sell-off on Friday, the broad markets find themselves in the middle of a short-term range. Baring unexpected events, it would not be terribly surprising to see the markets trade within this range for the rest of the week.
Video of the day
Trading Within a System
Coach T explains why trading within a system is so important.
Today’s Lineup
Coaches Lounge -11:00am EST
Join the coaches in this live lounge, ask questions, discuss ideas or just sit back and listen to veteran traders discuss market conditions.
Halftime Report – 12:30pm EST
The Halftime Report starts at 12:30 EST and covers what news is driving the market, chart analysis from the movers and shakers of the day and fun in a way that only Matt and Tim can deliver.
Market Recap – 4:30pm EST
The Market Recap is designed to give you a quick overview of the day that was. While brief, this report is designed to cover all of the major events that drove the markets that day and help you plan for the trading day ahead.
