And so I stick to my methodology. Now, if I have an idea that doesn't work out, and I look at that concept, and I say, "Okay, was there a problem in my process?" Mm-hmm (affirmative). Right? Therefore if there is a problem in my process, or if I underwent FOMO which has actually certainly taken place, then I state, "Okay, you got sucked in by FOMO, that's a novice error, gain from it." So I would state, if I take a look at where I have, a number of losers that I have actually had, I would say I was most likely a victim of FOMO, instead of it being a bad task.
Right? A great job purchased the wrong cost, is still a bad trade. Yeah. So it simply comes back to, again, controlling feeling. And in anything to do with money, feeling is generally the greatest perpetrator. Yeah, we call it riding the fear curve, right? Okay. So you wish to buy when there's a lot of fear, and you wish to sell, or take some earnings, at least, when there's a great deal of greed.
So what we've in fact 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, four weeks back, China was prohibiting ICOs, and there was huge fear in the market.
We purchased it, and then when the world didn't pertain 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, once again, I will tell you it's difficult to do. You're bucking a million years of development, of going against the herd, breaking the trend.
Right? But so I have actually trained myself to, if the idea of putting on the trade absolutely terrifies me if my withins feel like they're going into liquid, and I seem like I'm going to throw up by purchasing it, you've got to buy it! Mm-hmm (affirmative). You have actually got to buy it.
Because it typically suggests I'm pretty high up on the green curve. Yeah. And let's talk about purchasing for a second since there are various handles this. So there are folks that believe that generally you require Bitcoin to buy a few of these other altcoins. You can in some cases use on some locations, purchase a few of them without Bitcoin, with dollars or something.
However how does someone prepare themselves to benefit from these fear-based opportunities? Due to the fact that clearly with this pullback, if I would have had, state I had $10,000 sitting there prepared to enter into the market, but I had it stored in Bitcoin, I would have experienced it being drawn back too, still opportunity, but I'm losing some of my value.
Do you suggest people do something versus the other? See, this once again, this is tricky today, because there's a lag between where you purchase your Bitcoin and actually get it available. Yes. Teeka: You have actually type of got to have simply Bitcoin sitting there, prepared to opportunistically trade. Now Coinbase has said that they're going to offer immediate purchases.
So you can buy your Bitcoin right away and have it readily available right away. I do not understand when that's presenting, or what limitations they're going to place on that. But I believe that's a fantastic step in the right instructions since that's a circumstance where I can see something opportunistically, I can transform my fiat into Bitcoin and after that buy it.
I resemble, well okay, so my Bitcoin's down, I wish to buy this other thing, but I actually don't desire to eliminate my Bitcoin, 'cause my Bitcoin's inexpensive. Right. But then if I purchase Bitcoin, I have actually got to wait a week for it to clear. So then the math I have to do is I need to say, "Okay, over the next two to 4 weeks, which one do I believe is going to move up more?" Right.
And here's what I've been doing, just to kind of show folks. This is another strategy, and it depends on your availability of funds, and just how much you're dealing with position sizing. But what I've been doing is I do position sizing as you discussed, so say I wanted to buy $1,000 of some coin.
If I've got to trade the Bitcoin to do that, what I'll do is I will purchase another $1,000 of Bitcoin and have that entered my account. It will not appear for another seven days or so, but at least I'm getting it at the same price, and I'm sort of switching the two out.
Yeah, I do the same thing. You understand, I have a core Bitcoin holding, and after that I'll have additional Bitcoin for trading. And if I've consumed all my extra Bitcoin that I have for trading, and I've got to go into the core Bitcoin, I always change the core Bitcoin.
Yeah. So to keep my core position constantly at this particular level that I desire it to be at. Terrific, terrific. Well once again, I value the time. Prior to we begin to conclude here, I wished to ask you, exists any last suggestions, thoughts, over the last numerous years of what you've discovered that you would motivate, just sort of your typical, typical folks who might not be early adopters yet, to understand about Bitcoin, Blockchain, cryptocurrency, in basic? Yeah, I would say, begin.
Last year, I bought my daughter for her birthday, $400 worth of Bitcoin. And it's worth $6,000 today. Yeah. Right? I suggest, simply get going, just get your feet wet. Go to Google, checked out some articles, go on Bitcoin. com. Just comprehend this, and I would state 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 fascinating, but I believe it's kind 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 divides? And someone took a seat with you and stated, "Listen, this company's going to change the world, it's going to be one of the most lucrative business in the world." And you're like, "Eh, Nah, we'll see what happens." Right.
And if you utilize what you're speaking about with position sizing, doing it uniform, you have really little downside. 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 number of thousand dollars, I imply that might be actually life-changing money.
And it does not even take 10 years. I mean, believe about where we could be in 10 years, and I look at it, you sort of stated, "What if this is another Web?" And it advised me of my ideas on this. And I think that this type of motion is in fact larger than the Internet, due to the fact that we're more progressively advanced, and I think it's going to be a larger disruptor.
I indicate, extremely simple things like you mentioned with making documents no longer tamper-proof, and all the method to changing currencies. So do you feel that method? I mean, do you type 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 know, I need to exercise a measure of restraint.
I've seen things occur that I never ever believed would happen. And as I pull the video camera back, and I see the progression of this technology, I'm with you. It will touch each and every single aspect of our life. The cryptocurrency market will turn into one of the world's largest asset classes; it will match the equity market, which is over $60 trillion big right now, versus the existing $200 billion.
Yeah. And however it will unfold gradually, 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 process. Simply like we saw with the Internet, similar to we saw with the rollout even of electricity, of cars, of the railroads.
However the bottom line is, if you got in at an early stage any of those significant patterns, and were just wise adequate to do absolutely nothing however just hold, you made a goddamn killing. And I think that's a key thing, simply understanding the power of standing your ground. Imitate Warren Buffet, you know? Don't offer.
And it's remarkable what might start to take place. And like you said, therein, there's going to be a lot of this disruption. And to me that leads me to think that there might be a brand-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.
Which leads me to, first I just desire to be so grateful for your time, hopefully, everybody's taken pleasure in all this information and insight, but your journey's just starting. And I'm no expert, I've put in the time to inform myself and check out a lot about it, watch a lot of it.
However the next action is you can simply click on the link below to read more about what Teeka is doing, and how you can discover from him, follow some of his suggestions, get his insights into what's happening within the cryptocurrency area. And I extremely recommend you do it, simply since I have actually followed numerous of his ideas, and I understand the outcomes that I've experienced for myself, and I see what other individuals are getting also.
And I totally think that you can rely on Teeka and his team. Not merely because I understand him exceptionally well, because I do not, however because I see how he prepares research, and I see that he's doing the right things. Like, he's flying someplace, fulfilling the business, talking with them.
He's not similar to a scratching the surface area type guy. Which's what you desire. That is what you desire, and most importantly I see my history, my roots of all the way considering that 2003 when I first found out to trade stock options, I constantly took a look at it from, how can I protect myself? If someone states, trading choices are incredibly risky; they may state the exact same thing for cryptocurrency.
We talked about some of them today. You understand, variety, uniform position sizing, protecting by just investing a specific quantity. All of these things are once again the pointer of the iceberg of what you could be gaining from Teeka and his team. So once again, take a look at the link listed below, examine out his info, I highly advise you buy his items, they're incredibly inexpensive for what value you're getting, and we'll see you on the other side.
I think in building genuine long-term services online and I'm the happy creator of Perfect Service Code (PB Code). I got my start online back in the early 2000's and I've seen our neighborhood grow and evolve over almost decades. I'm excited to share my philosophies, concepts, technique and even some strategies on developing a flourishing and long enduring online organization.
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 learn if Palm Beach Confidential is a legit newsletter with excellent investment suggestions or not. One of cryptocurrency's initial goals was to develop a decentralized, peer-to-peer currency to lower fraud, as well as reduce dependence on central banking systems.
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