Most People Give up Longterm Wealth Chasing Quick Money

In this insightful clip from Market Mondays, hosts Rashad Bilal and Ian Dunlap dive into one of the most important lessons for traders and investors: the dangers of chasing fast wins and why true wealth is built with discipline and patience. Ian shares his futures trading tip of the week, reflecting on lessons from the recent trading tournament and highlighting the importance of letting trades “breathe” and strategically planning entries on volatile market days like when Powell speaks or economic reports drop. Rashad and Ian also explore the blurred lines between trading and sports wagering, referencing Robinhood’s innovative approach and how more traders are entering the world of in-game contract trading. The conversation turns critical as they unpack mistakes young investors often make—especially when trying to score fast gains in meme stocks or speculative sectors like NFTs. Ian warns that while hitting a quick win may seem rewarding, it often breeds poor discipline and risky habits, with most quick successes not repeating themselves in the markets. Rashad reinforces the pitfalls of following hype or hearsay without understanding companies or their industries, and both stress why relying on others for entry and exit signals is dangerous. Drawing on Warren Buffett’s philosophy, Rashad recalls a conversation with Jeff Bezos about the power of getting “rich slow”—and why this tried and true method remains unpopular despite its proven results. The key takeaway? While chasing overnight success is tempting, patience, discipline, and a solid plan will always outperform reckless speculation in the long run. *Key points in this clip:*

• Why you must let your trades breathe and use longer targets strategically
• How sports wagering platforms like Robinhood are attracting futures traders
• The biggest mistakes young investors make, from chasing meme stocks to lack of market discipline
• Why fast money often leads to long-term losses
• The timeless wisdom of building wealth slowly instead of seeking quick wins

*Learn practical wisdom from Rashad Bilal and Ian Dunlap on becoming a smarter, more disciplined investor—because sometimes the slow road is the fastest way to lasting wealth.* #MarketMondays #TradingTips #Investing #WealthBuilding #IanDunlap #RashadBilal #StockMarket #FuturesTrading #Robinhood #Discipline #FinancialFreedom #GetRichSlow #MemeStocks #NFTs #LongTermInvesting #SportsWagering

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Episode Transcript

Speaker 1 (00:00):
Earners. What's up.

Speaker 2 (00:01):
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Speaker 3 (01:38):
So let's start it off with trading question Futures trading
tip of the week.

Speaker 1 (01:46):
After all, the trading tournament just end of this week.
Oh man, talk to us, talk to us.

Speaker 4 (01:51):
I'm proud of you'all of who made the top twenty five.
The live trading tournament will start January fifth, So I
want the volume to pick back up and that win
it would get fifty thousand dollars.

Speaker 1 (02:02):
But my trading tip of the week.

Speaker 4 (02:05):
Is that you have to give your trades room to breathe. Now,
some people in the tournament hated the fact that some
people were just going long and they were adjusting their stops.
But please write this down. You need to use your
big targets on big days. If that boy Pile speaks,
usually the market is going to move one way or another,
and sometimes you're going to be able to hit a

(02:28):
monthly goal.

Speaker 1 (02:28):
Inside of a day time.

Speaker 4 (02:30):
Your trades right to be able to take advantage of
those and use your long targets on days in which
rate cuts could happen, or non farm payroll or certain
report days.

Speaker 1 (02:41):
So weaponize and use your long targets when the market
is going to move in your favor.

Speaker 3 (02:48):
Okay.

Speaker 1 (02:49):
And you can also use polymarket to understand where something
could go.

Speaker 2 (02:53):
That was an interesting insight, right, like using that predictive
market to actually go inside of derivative market and use
that as an additional tool.

Speaker 4 (03:03):
So because robinhood is going weaponize it next year, yeah,
I mean you can do all for sure, yeah, legend okay.

Speaker 3 (03:14):
And I thought it was interesting too when he talked
when Vlad talked about there's sports wagering that they have
on their platform, and he said a lot of future
traders and other traders, but he's like future traders are
getting into it. And anybody that did not watch the interview,
you know, that's one of the features that Robinhood has
on their platform is sports wagering, which is essentially like

(03:35):
it's like trading contracts in the middle of a sports
game in real time.

Speaker 1 (03:38):
You can trade.

Speaker 3 (03:38):
It's a little bit more advanced in sports gambling. And
I was just saying, like, you know, as far as gambling,
you know, he was saying like, well, if you really
look at the futures market, what does somebody in Cleveland, Ohio,
really have to do with corn future price.

Speaker 4 (03:56):
Order s and p or we playedium, Yeah, little to
no impact.

Speaker 3 (04:02):
So he drew. He drew a very he drew like
a comparison from futures trading to the sports wagering that
they have now. So it's it's interesting as far as markets.
But you said a lot of people, a lot of
traders from the futures market and other markets are coming
into the sports wagering market.

Speaker 4 (04:22):
Did you get any insight if they're going to have
a different chartering than poly market.

Speaker 2 (04:32):
Uh, I can't speak on that just yet. A few
other things you can't speak on just yet. Taxingist, yes, yeah,
but Robin Hood and uh we talked about it being
him being the CEO of d A last year. It
is one of those companies that's had an amazing year
and from the things that we heard, I think growth

(04:54):
is still on the horizon for them. Sure that's fair
to say.

Speaker 3 (04:58):
Okay, what's one of the biggest mistake young in just
make when they chase fast wins instead of building wealth over.

Speaker 1 (05:03):
Tell giving up wealth. I want to be very clear.

Speaker 4 (05:07):
I know it's funnier to chase meme stocks and potential
quantum stocks like IO n Q, no shade.

Speaker 1 (05:15):
To them, but you're giving up your future.

Speaker 4 (05:18):
Literally if we go back since the inception of the show,
back to twenty twenty one or the twenty twenty.

Speaker 1 (05:25):
Two drop.

Speaker 4 (05:27):
Generational wealth we I know the term gets thrown around
so much, but those were chances to actually build it.
And I think chasing a fast win builds bad habits.
And even if you do win, I've known people that
have made two three hundred thousand off of let's let's
say game stop, and they think because they had that
one win and game stop is going to apply to

(05:48):
every other meme stop for shot. You made the post
about NFTs everyone killed me a few years ago, and
I'm like, NFTs are garbage, and here we are there
worths virtually nothing.

Speaker 1 (05:58):
So I think a lot of the things.

Speaker 4 (06:00):
We want wealth we say that we want, but we
aren't willing to build them slowly. And if you don't,
that is a huge mistake for chasing a fast win
ends up usually leading to the.

Speaker 1 (06:10):
K I summed that up.

Speaker 2 (06:13):
I just put just being undisciplined and not respecting the
market or money.

Speaker 1 (06:16):
Yeah.

Speaker 2 (06:17):
I think those those two things people forget because they
feel like the word fast money.

Speaker 1 (06:23):
But always so what speed can come error?

Speaker 2 (06:25):
Right, because you're doing things and a haste and you're
trying to have this immediate outcome, and you tend to
make mistakes in that. And I'm speaking from experience because
I've done that. I've been in a space where it's like, oh,
I got to do this, I got to do this.

Speaker 1 (06:37):
Well, I made a mistake.

Speaker 2 (06:38):
I put sell to open, not sell the little thing
little I forgot, especially in an obserctrating, Oh I didn't
mean to click market. I meant to put my limit,
and now I got the market price, and now when
I bought it, I'm down five percent. It's the little
things that you do when you're doing things fast and
you're trying to get these calls in or get your
future traders in write these pips, you'll make mistakes and

(07:01):
so with speed comes era you lose discipline when you
do things like that, So that that would be the
thing that I see most and I see it now,
especially when the market is up. People are chasing. They're
losing discipline. Shout the money. I bought to Mike earlier
in his trading journey, and before we got here, he
told me he has.

Speaker 1 (07:18):
A new strategy.

Speaker 2 (07:19):
I'm like, oh, I'm glad you're here right Like, I say, like,
what is the exit before you enter it?

Speaker 1 (07:25):
Position? He now has that. I'm like, perfect, ilad.

Speaker 2 (07:28):
It took a lot a while for us to get here,
but now with staying disciplined, having that plan and respecting
the market and respecting money, those those are important things.

Speaker 1 (07:38):
And it was funny whatever I go real quick.

Speaker 4 (07:41):
I saw a lot of people criticizing the Michigan coach
and we'll talk about that on Blackout on Wednesday. But
a lot of you are making the same mistake that
he's making. But in your trading life, you're making risky
ass bets that are going to cost your financial future.
The market just hasn't blown you up yet. So for
the people that are trading with too much leverage, too

(08:03):
much size, or you've gotten away with three or four
investments that are risky and you thought was going to
be the new in video or the new AMD and
then they're falling apart. Like, don't criticize someone's mistake because
yours hasn't been exposed yet. But I'm telling you, over
the next year, you're going to have to double down
on companies that are incredibly solid with.

Speaker 1 (08:24):
High profit margins that are going to move the GDP.

Speaker 4 (08:27):
Like that era of betting on risk or being risk going,
that's going to go away in January.

Speaker 1 (08:33):
It's overwhere I think that there's something to that.

Speaker 2 (08:36):
It's like we've seen a lot of times people will
just invest by hearsay. That also goes on being undisciplined, right,
Like I'm just doing it because I saw that stock
go up seventeen percent, or I saw it going up
thirty percent, not having a firm understanding of what that
stock is, what the sector is, what the company actually does.
None of the things that we always talk about, right
like who's the see We don't know anything. We just

(08:57):
know that the price went up, and if the price
went up, it'll probably go up tomorrow or maybe in
a month of well, or I keep hearing people talk
about it, so it must be a good start and
just investing off of here saying that goes into the
lack of discipline. We also at least understand what you're
invested in. I can't say there's a company that invested
in that. I don't know what they do, who the
CEO is, and what their purpose is inside of the market,

(09:18):
or at least.

Speaker 4 (09:19):
Know your exit, Like I got a lot of messages
today when the market was pulling back, and what about
our own que. You shouldn't have to rely on somebody
else for entries and exits if you've already planned where
to exit properly, are going to be clear that the
hospital year are done? There in there's no Christmas rally
this year. You should have got your games from post April.

Speaker 1 (09:42):
Yeah, for sure.

Speaker 3 (09:43):
All about profit, Well, we never had any land in
the metaverse, but they is. It's something that I saw
Jeff Beso say that he spoke to Warren Buffett and
he asked him. He said, look, you your investment philosophy
is not extremely complicated. Why don't you think more people
don't just following COPI exactly what you do as far

(10:04):
as investing, because it's pretty much open source, he said,
because my philosophy is to get rich slow, and he said,
nobody wants to get rich slow, So that's why a
lot of people nobody really copies what I do.

Speaker 1 (10:18):
I think that.

Speaker 3 (10:19):
That was that's insightful as far as you know, everybody's
always gonna want to try to get rich quick and
cut corners, and you know, nobody wants to take the
long road in life. So that's never going to change.
That's never going to change. It's going to be the
same to the end of the world.

Speaker 4 (10:36):
But for those of you who are willing to get
rich slow, oh my god, life will be amazing.

Speaker 2 (10:43):
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