And so I stick to my methodology. Now, if I have an idea that does not work out, and I look at that concept, and I say, "Okay, was there a problem in my procedure?" Mm-hmm (affirmative). Right? And so if there is a problem in my procedure, or if I went through FOMO which has certainly occurred, then I say, "Okay, you got absorbed by FOMO, that's a novice mistake, gain from it." So I would state, if I look at where I have, a couple 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? A good task purchased at the incorrect cost, is still a bad trade. Yeah. So it simply returns to, once again, controlling feeling. And in anything to do with cash, feeling is usually 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 fear, and you wish to offer, or take some revenue, a minimum of, when there's a lot of greed.
So what we've really done, and this is through my own hard-learned lessons, is we have actually created a series of tools that will tip us off when worry is really high. Okay. And that's when we'll take benefit of trades. So 3, 4 weeks back, China was prohibiting ICOs, and there was enormous worry in the market.
We bought it, and then when the world didn't pertain to an end, and after that we began climbing the greed curve, it was $32 a week later. Yes. So that's putting the fear/greed curve to work. Now, again, I will tell you it's hard to do. You're bucking a million years of advancement, of going versus the herd, breaking the pattern.
Right? But so I have actually trained myself to, if the concept of placing on the trade definitely horrifies me if my withins feel like they're entering into liquid, and I seem 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 buy it.
Because it generally means I'm pretty high up on the green curve. Yeah. And let's discuss buying for a 2nd due to the fact that there are various takes on this. So there are folks that think that normally you need Bitcoin to purchase some of these other altcoins. You can often utilize on some places, purchase some of them without Bitcoin, with dollars or something.
However how does someone prepare themselves to make the most of these fear-based opportunities? Due to the fact that obviously with this pullback, if I would have had, say I had $10,000 sitting there prepared to enter into the marketplace, but I had it stored in Bitcoin, I would have experienced it being drawn back also, still opportunity, however I'm losing a few of my value.
Do you advise people do something versus the other? See, this once again, this is difficult right now, due to the fact that there's a lag in between where you purchase your Bitcoin and in fact get it available. Yes. Teeka: You've kind of got to have simply Bitcoin sitting there, ready to opportunistically trade. Now Coinbase has stated that they're going to offer immediate purchases.
So you can purchase your Bitcoin immediately and have it readily available instantly. I do not understand when that's presenting, or what limits they're going to put on that. But I believe that's a fantastic action in the best direction because that's a scenario where I can see something opportunistically, I can transform my fiat into Bitcoin and after that buy it.
I'm like, well alright, so my Bitcoin's down, I want to purchase this other thing, but I truly do not desire to get rid of my Bitcoin, 'cause my Bitcoin's cheap. Right. However then if I buy Bitcoin, I have actually got to wait a week for it to clear. So then the math I need to do is I have to say, "Okay, over the next two to 4 weeks, which one do I think is going to move up more?" Right.
And here's what I have actually been doing, just to kind of share with folks. This is another method, and it depends on your availability of funds, and how much you're handling position sizing. But what I have actually been doing is I do place sizing as you pointed out, so state I desired to purchase $1,000 of some coin.
If I've got to trade the Bitcoin to do that, what I'll do is I will acquire another $1,000 of Bitcoin and have actually that entered into my account. It will not appear for another seven days or so, but at least I'm getting it at the very same rate, and I'm sort of swapping the two out.
Yeah, I do the same thing. You know, I have a core Bitcoin holding, and then I'll have extra Bitcoin for trading. And if I have actually utilized up all my extra Bitcoin that I have for trading, and I've got to enter into the core Bitcoin, I constantly change the core Bitcoin.
Yeah. So to keep my core position constantly at this specific level that I want it to be at. Wonderful, terrific. Well once again, I value the time. Before we start to conclude here, I wished to ask you, is there any last advice, thoughts, over the last several years of what you've found out that you would motivate, simply kind of your normal, average folks who might not be early adopters yet, to comprehend about Bitcoin, Blockchain, cryptocurrency, in general? Yeah, I would state, get going.
In 2015, I bought my daughter for her birthday, $400 worth of Bitcoin. And it's worth $6,000 today. Yeah. Right? I indicate, just begin, just get your feet wet. Go to Google, read some posts, go on Bitcoin. com. Just comprehend this, and I would say if you're sitting there and you're listening to this, and you're saying, "Oh, I'll do it later on." Or, "Ah, this sounds interesting, but I think it's sort of BS." You've got to ask yourself, what if you're incorrect? Right.
Right? What if this is Apple computer at $5? What if this is Microsoft at $10, pre all the splits? And someone took a seat with you and stated, "Listen, this business's going to change the world, it's going to be among the most successful companies on the planet." And you're like, "Eh, Nah, we'll see what occurs." Right.
And if you use what you're discussing with position sizing, doing it uniform, you have extremely little disadvantage. Correct. So at the end of the day, I mean if it is Apple at $5, or Microsoft or whatever, and you're putting in an overall of $5,000, of a couple of thousand dollars, I suggest that could be literally life-altering cash.
And it doesn't even take ten years. I indicate, think of where we could be in 10 years, and I look at it, you kind of stated, "What if this is another Internet?" And it reminded me of my thoughts on this. And I believe that this type of movement is really larger than the Web, since we're more progressively advanced, and I believe it's going to be a bigger disruptor.
I suggest, extremely basic things like you mentioned with making files no longer tamper-proof, and all the method to changing currencies. So do you feel that method? I mean, do you kind of get that sense that the disruption is that huge? I do. I have to beware, Ryan, about being branded a zealot, and I have to be You understand, I have to exercise a step of restraint.
I have actually seen things occur that I never thought would take place. And as I pull the camera back, and I see the development of this innovation, I'm with you. It will touch every aspect of our life. The cryptocurrency market will turn into one of the world's biggest property classes; it will rival the equity market, which is over $60 trillion huge today, versus the current $200 billion.
Yeah. And but it will unfold over time, and there will be panics, and there will be fraud, and there will be government crackdowns, and there will be all this worry, unpredictability, and doubt throughout this process. Similar to we saw with the Internet, just 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 patterns, and were simply smart enough to do absolutely nothing however simply hold, you made a goddamn killing. And I think that's a crucial thing, simply recognizing the power of standing your ground. Act like Warren Buffet, you know? Don't sell.
And it's fantastic what might begin to happen. And like you said, in there, there's going to be a lot of this disturbance. And to me that leads me to think that there might be a new front-runner, there could be a different Bitcoin, or there might be some other cryptocurrency that hasn't even been considered yet- Hasn't even been produced yet, yeah.
Which leads me to, first I simply wish to be so grateful for your time, ideally, everybody's taken pleasure in all this info and insight, however your journey's simply starting. And I'm no expert, I have actually made the effort to inform myself and read a lot about it, see a great deal of it.
However the next step is you can simply click the link listed below for more information about what Teeka is doing, and how you can gain 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, merely due to the fact that I have actually followed several of his recommendations, and I understand the results that I've experienced for myself, and I see what other people are getting as well.
And I totally think that you can trust Teeka and his group. Not merely since I understand him extremely well, since I don't, but since I see how he prepares research, and I see that he's doing the best things. Like, he's flying someplace, satisfying the company, talking to them.
He's not simply like a scratching the surface area type guy. And that's what you want. That is what you desire, and most significantly I see my history, my roots of all the method because 2003 when I initially found out to trade stock options, I always took a look at it from, how can I protect myself? If somebody states, trading choices are incredibly dangerous; they may say the very same thing for cryptocurrency.
We talked about a few of them today. You know, diversity, uniform position sizing, safeguarding by just investing a particular amount. All of these things are again the pointer of the iceberg of what you could be gaining from Teeka and his group. So once again, take a look at the link below, have a look at his information, I highly suggest you buy his items, they're extremely low-cost for what worth you're getting, and we'll see you on the other side.
I believe in constructing genuine long-term businesses online and I'm the proud developer of Perfect Company Code (PB Code). I got my start online back in the early 2000's and I have actually seen our neighborhood grow and develop over nearly years. I'm excited to share my philosophies, concepts, method and even some methods on developing a flourishing and long-term online organization.
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