In layman’s terms: Discipline and planning are key.

🌰 In a nutshell: Once you set your best plan, don’t lose your perspective relative to the changing market. Be disciplined in making the timely move to keep your plan relevant to the current market in order to meet your end goal.

Understanding planning and discipline🧐

Think of your favorite athlete, musician, dancer, scholar, or someone who has accomplished something of value. Regardless of their fields, we all know that discipline and planning are required of all of them.

Becoming a successful investor is the same! You need to exercise your discipline and plan your move strategically to get to your financial goal!

What are planning and discipline in investment?

Before moving further, let’s first get the big picture.

We will first list what is included in each of these principles. Then, we are going to hammer down one concept at a time.

Planning

Investment planning often includes the following:

Know your goal and set a realistic time frame.
Set the best plan that fits your investment persona.

Discipline

Staying disciplined means keeping the market’s trend in perspective and deciding on your moves accordingly in a timely manner. To do that, you need to do the following.