And so I stay with my methodology. Now, if I have a concept that doesn't exercise, and I look at that concept, and I say, "Okay, was there an issue in my procedure?" Mm-hmm (affirmative). Right? Therefore if there is an issue in my procedure, or if I underwent FOMO which has certainly happened, then I state, "Okay, you got absorbed by FOMO, that's a novice error, gain from it." So I would state, if I look at where I have, a number of losers that I've had, I would state I was most likely a victim of FOMO, rather than it being a bad job.
Right? An excellent project purchased the incorrect cost, is still a bad trade. Yeah. So it just comes back to, again, managing emotion. And in anything to do with money, emotion is normally the most significant perpetrator. Yeah, we call it riding the worry curve, right? Okay. So you wish to buy when there's a lot of worry, and you want to offer, or take some revenue, a minimum of, when there's a great deal of greed.
So what we've actually done, and this is through my own hard-learned lessons, is we've created a series of tools that will tip us off when fear is actually high. Okay. Which's when we'll make the most of trades. So 3, four weeks ago, China was banning ICOs, and there was huge fear in the market.
We bought it, and after that when the world didn't come to an end, and then we began climbing up the greed curve, it was $32 a week later on. Yes. So that's putting the fear/greed curve to work. Now, again, I will tell you it's challenging to do. You're bucking a million years of evolution, of going versus the herd, breaking the trend.
Right? However so I've trained myself to, if the idea of putting on the trade definitely terrifies me if my withins seem like they're entering into liquid, and I feel like I'm going to throw up by buying it, you have actually got to buy it! Mm-hmm (affirmative). You have actually got to purchase it.
Since it typically suggests I'm pretty high up on the green curve. Yeah. And let's discuss buying for a second due to the fact that there are different takes on this. So there are folks that believe that normally you require Bitcoin to buy a few of these other altcoins. You can in some cases use on some places, buy a few of them without Bitcoin, with dollars or something.
But how does somebody prepare themselves to benefit from these fear-based opportunities? Because undoubtedly with this pullback, if I would have had, say I had $10,000 sitting there ready to go into the market, but I had it saved in Bitcoin, I would have experienced it being pulled back as well, still opportunity, but I'm losing a few of my value.
Do you advise people do one thing versus the other? See, this again, this is tricky today, due to the fact that there's a lag between where you buy your Bitcoin and in fact get it available. Yes. Teeka: You have actually kind of got to have simply Bitcoin sitting there, all set to opportunistically trade. Now Coinbase has said that they're going to offer immediate purchases.
So you can buy your Bitcoin instantly and have it offered right away. I don't understand when that's rolling out, or what limitations they're going to put on that. But I believe that's a great action in the ideal instructions since that's a situation where I can see something opportunistically, I can transform my fiat into Bitcoin and after that purchase it.
I'm like, well okay, so my Bitcoin's down, I desire to purchase this other thing, but I truly don't wish to eliminate my Bitcoin, 'cause my Bitcoin's cheap. Right. However then if I purchase Bitcoin, I've got to wait a week for it to clear. So then the math I need to do is I need to state, "Okay, over the next 2 to 4 weeks, which one do I believe is going to go up more?" Right.
And here's what I have actually been doing, just to sort of share with folks. This is another method, and it depends upon your schedule of funds, and just how much you're handling position sizing. But what I've been doing is I do position sizing as you pointed out, so say I wanted to buy $1,000 of some coin.
If I have actually got to trade the Bitcoin to do that, what I'll do is I will acquire another $1,000 of Bitcoin and have that entered into my account. It won't appear for another 7 days or two, but a minimum of I'm getting it at the exact same cost, and I'm kind of switching the 2 out.
Yeah, I do the exact same thing. You know, I have a core Bitcoin holding, and after that I'll have extra Bitcoin for trading. And if I've consumed all my additional Bitcoin that I have for trading, and I've got to enter into the core Bitcoin, I always replace the core Bitcoin.
Yeah. So to keep my core position always at this certain level that I want it to be at. Fantastic, wonderful. Well once again, I appreciate the time. Prior to we start to finish up here, I desired to ask you, is there any last advice, thoughts, over the last several years of what you've found out that you would encourage, just sort of your normal, typical folks who might not be early adopters yet, to understand about Bitcoin, Blockchain, cryptocurrency, in general? Yeah, I would say, start.
Last year, I purchased my daughter for her birthday, $400 worth of Bitcoin. And it's worth $6,000 today. Yeah. Right? I mean, just get going, just get your feet damp. Go to Google, read some articles, go on Bitcoin. com. Simply comprehend this, and I would state if you're sitting there and you're listening to this, and you're stating, "Oh, I'll do it later on." Or, "Ah, this sounds interesting, however I think it's type of BS." You've got to ask yourself, what if you're incorrect? Right.
Right? What if this is Apple computer system at $5? What if this is Microsoft at $10, pre all the divides? And somebody took a seat with you and stated, "Listen, this business's going to change the world, it's going to be among the most profitable business worldwide." And you resemble, "Eh, Nah, we'll see what happens." Right.
And if you utilize what you're talking about with position sizing, doing it uniform, you have extremely little downside. Correct. So at the end of the day, I imply if it is Apple at $5, or Microsoft or whatever, and you're putting in an overall of $5,000, of a number of thousand dollars, I suggest that could be literally life-altering money.
And it doesn't even take 10 years. I mean, think of where we could be in 10 years, and I take a look at it, you type of stated, "What if this is another Web?" And it reminded me of my ideas on this. And I believe that this type of movement is actually bigger than the Internet, since we're more gradually advanced, and I believe it's going to be a larger disruptor.
I mean, very basic things like you mentioned with making files no longer tamper-proof, and all the method to altering currencies. So do you feel that way? I imply, do you type of get that sense that the disruption is that big? I do. I need to be careful, Ryan, about being branded a zealot, and I have to be You understand, I need to work out a procedure of restraint.
I've seen things happen that I never ever believed would take place. And as I pull the video camera back, and I see the progression of this technology, I'm with you. It will touch every element of our life. The cryptocurrency market will end up being one of the world's biggest asset classes; it will equal the equity market, which is over $60 trillion big right now, versus the present $200 billion.
Yeah. And but it will unfold with time, and there will be panics, and there will be fraud, and there will be government crackdowns, and there will be all this fear, uncertainty, and doubt throughout this procedure. Similar to we saw with the Internet, much like we saw with the rollout even of electricity, of cars, of the railroads.
But the bottom line is, if you got in early on any of those significant trends, and were just smart enough to do nothing however simply hold, you made a goddamn killing. And I believe that's a crucial thing, just understanding the power of standing your ground. Imitate Warren Buffet, you understand? Don't offer.
And it's incredible what might start to occur. And like you said, in there, there's going to be so much of this disruption. And to me that leads me to believe that there might be a new front-runner, there could be a different Bitcoin, or there could be some other cryptocurrency that hasn't even been believed of yet- Hasn't even been developed yet, yeah.
And that leads me to, first I simply wish to be so grateful for your time, ideally, everyone's delighted in all this information and insight, however your journey's simply getting going. And I'm no specialist, I have actually taken the time to educate myself and read a lot about it, watch a great deal of it.
But the next step is you can just click on the link below to discover more about what Teeka is doing, and how you can find out from him, follow some of his suggestions, get his insights into what's taking place within the cryptocurrency area. And I highly advise you do it, simply since I have actually followed several of his recommendations, and I know the results that I've experienced for myself, and I see what other individuals are getting as well.
And I totally believe that you can trust Teeka and his team. Not merely due to the fact that I know him incredibly well, because I don't, however because I see how he prepares research study, and I see that he's doing the ideal things. Like, he's flying someplace, fulfilling the business, speaking to them.
He's not simply like a scratching the surface type guy. And that's what you desire. That is what you desire, and most notably I see my history, my roots of all the way since 2003 when I first found out to trade stock alternatives, I constantly looked at it from, how can I secure myself? If somebody states, trading alternatives are exceptionally dangerous; they might state the exact same thing for cryptocurrency.
We discussed some of them today. You know, diversity, consistent position sizing, securing by only investing a particular amount. All of these things are once again the suggestion of the iceberg of what you might be learning from Teeka and his team. So once again, take a look at the link below, have a look at his details, I highly advise you invest in his items, they're exceptionally low-cost for what value you're getting, and we'll see you on the other side.
I think in constructing real long-lasting businesses online and I'm the proud developer of Perfect Organization Code (PB Code). I got my start online back in the early 2000's and I have actually seen our community grow and evolve over nearly decades. I'm thrilled to share my viewpoints, principles, strategy and even some techniques on producing a thriving and long-term online service.
Palm Beach Confidential is a financial investment advisory service that focuses on cryptocurrencies and other small-cap assets. It is run by investment advisory/publishing firm Palm Beach Research study Group. In our evaluation, you'll discover if Palm Beach Confidential is a legitimate newsletter with good financial investment guidance or not. One of cryptocurrency's original objectives was to create a decentralized, peer-to-peer currency to minimize fraud, along with decrease dependence on central banking systems.
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