And so I stick to my methodology. Now, if I have an idea that doesn't exercise, and I take a look at that idea, 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 was subject to FOMO which has actually certainly taken place, then I state, "Okay, you got absorbed by FOMO, that's a rookie error, find out from it." So I would state, if I take a look at where I have, a couple of losers that I've had, I would say I was most likely a victim of FOMO, rather than it being a bad project.
Right? A great task bought at the wrong price, is still a bad trade. Yeah. So it just comes back to, again, controlling feeling. And in anything to do with money, feeling is normally the biggest 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 want to offer, or take some revenue, at least, when there's a lot 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 worry is actually high. Okay. Which's when we'll make the most of trades. So 3, 4 weeks ago, China was banning ICOs, and there was huge worry in the market.
We purchased it, and after that when the world didn't pertain to an end, and after that we began climbing up the greed curve, it was $32 a week later. Yes. So that's putting the fear/greed curve to work. Now, once again, I will tell you it's tough to do. You're bucking a million years of evolution, of breaking the herd, breaking the trend.
Right? However so I've trained myself to, if the idea of putting on the trade absolutely terrifies me if my withins seem like they're going into liquid, and I seem like I'm going to throw up by purchasing it, you've got to purchase it! Mm-hmm (affirmative). You have actually got to purchase it.
Because it generally indicates I'm pretty high up on the green curve. Yeah. And let's speak about purchasing for a 2nd since there are various handles this. So there are folks that think that usually you require Bitcoin to purchase some of these other altcoins. You can sometimes use on some places, purchase a few of them without Bitcoin, with dollars or something.
But how does someone prepare themselves to take advantage of these fear-based chances? Because obviously with this pullback, if I would have had, say I had $10,000 sitting there ready to enter into the market, but I had it kept in Bitcoin, I would have experienced it being pulled back as well, still opportunity, but I'm losing some of my value.
Do you advise individuals do one thing versus the other? See, this again, this is tricky right now, because there's a lag in between where you purchase your Bitcoin and really get it offered. Yes. Teeka: You have actually kind of got to have just Bitcoin sitting there, all set to opportunistically trade. Now Coinbase has said that they're going to offer instant purchases.
So you can buy your Bitcoin immediately and have it readily available instantly. I don't know when that's presenting, or what limitations they're going to place on that. But I think that's a great step in the best instructions because that's a scenario where I can see something opportunistically, I can convert my fiat into Bitcoin and after that purchase it.
I resemble, well okay, so my Bitcoin's down, I want to buy this other thing, however I truly don't desire to eliminate my Bitcoin, 'cause my Bitcoin's inexpensive. Right. However then if I purchase Bitcoin, I've got to wait a week for it to clear. So then the mathematics I need to do is I need to state, "Okay, over the next 2 to 4 weeks, which one do I think is going to move up more?" Right.
And here's what I've been doing, simply to kind of show folks. This is another method, and it depends on your availability of funds, and just how much you're dealing with position sizing. But what I have actually been doing is I do place sizing as you discussed, so say I desired 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 reveal up for another 7 days approximately, however at least I'm getting it at the exact same cost, and I'm type of switching the two out.
Yeah, I do the same thing. You understand, I have a core Bitcoin holding, and then I'll have additional Bitcoin for trading. And if I've utilized up all my additional Bitcoin that I have for trading, and I have actually got to enter into the core Bitcoin, I always change the core Bitcoin.
Yeah. So to keep my core position constantly at this specific level that I want it to be at. Terrific, fantastic. Well once again, I appreciate the time. Prior to we begin to wrap up here, I wished to ask you, exists any final suggestions, thoughts, over the last a number of years of what you've found out that you would encourage, just sort of your typical, average folks who might not be early adopters yet, to understand about Bitcoin, Blockchain, cryptocurrency, in general? Yeah, I would state, start.
Last year, I bought my daughter for her birthday, $400 worth of Bitcoin. And it deserves $6,000 today. Yeah. Right? I suggest, just start, simply get your feet wet. Go to Google, checked out some short 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." Or, "Ah, this sounds interesting, but I believe it's kind of BS." You've got to ask yourself, what if you're wrong? Right.
Right? What if this is Apple computer at $5? What if this is Microsoft at $10, pre all the divides? And somebody sat down with you and stated, "Listen, this business's going to alter the world, it's going to be one of the most lucrative business worldwide." And you resemble, "Eh, Nah, we'll see what takes place." Right.
And if you use what you're talking about with position sizing, doing it consistent, you have really 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 couple of thousand dollars, I indicate that might be literally life-altering money.
And it doesn't even take 10 years. I mean, believe about where we could be in 10 years, and I look at it, you type of said, "What if this is another Internet?" And it reminded me of my thoughts on this. And I believe that this type of movement is in fact larger than the Internet, due to the fact that we're more gradually advanced, and I believe it's going to be a larger disruptor.
I suggest, extremely simple things like you pointed out with making documents no longer tamper-proof, and all the way to changing currencies. So do you feel that method? I suggest, do you sort of get that sense that the interruption is that big? I do. I need to be mindful, Ryan, about being branded a zealot, and I have to be You know, I have to exercise a procedure of restraint.
I have actually seen things take place that I never believed would take place. And as I pull the electronic camera back, and I see the progression of this technology, I'm with you. It will touch every facet of our life. The cryptocurrency market will become one of the world's largest asset classes; it will rival the equity market, which is over $60 trillion huge today, versus the existing $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 fear, unpredictability, and doubt throughout this process. Much like we saw with the Web, much like we saw with the rollout even of electrical energy, of automobiles, of the railroads.
However the bottom line is, if you got in early any of those major trends, and were simply smart enough to do absolutely nothing but just hold, you made a goddamn killing. And I believe that's a key thing, just realizing the power of standing your ground. Imitate Warren Buffet, you know? Do not offer.
And it's incredible what could begin to happen. And like you stated, in there, there's going to be a lot of this interruption. And to me that leads me to think 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 thought about yet- Hasn't even been created yet, yeah.
Which leads me to, first I simply desire to be so grateful for your time, ideally, everyone's enjoyed all this info and insight, however your journey's just getting begun. And I'm no specialist, I've made the effort to educate myself and check out a lot about it, view a lot of it.
But the next action is you can just click the link listed below for more information about what Teeka is doing, and how you can find out from him, follow a few of his suggestions, get his insights into what's taking place within the cryptocurrency space. And I extremely suggest you do it, just since I've followed numerous of his tips, and I understand the outcomes that I have actually experienced for myself, and I see what other individuals are getting as well.
And I fully believe that you can rely on Teeka and his team. Not merely since I know him incredibly well, because I do not, but because I see how he prepares research, and I see that he's doing the best things. Like, he's flying someplace, fulfilling the company, talking to them.
He's not similar to a scratching the surface type man. And that's what you want. That is what you desire, and most notably I see my history, my roots of all the way given that 2003 when I initially found out to trade stock choices, I constantly looked at it from, how can I safeguard myself? If someone states, trading options are exceptionally risky; they may state the exact same thing for cryptocurrency.
We talked about some of them today. You understand, diversity, consistent position sizing, securing by only investing a certain amount. All of these things are once again the tip of the iceberg of what you could be finding out from Teeka and his team. So again, inspect out the link below, check out his information, I highly advise you invest in his products, they're exceptionally affordable for what worth you're getting, and we'll see you on the other side.
I think in developing genuine long-term services online and I'm the happy creator of Perfect Organization Code (PB Code). I got my start online back in the early 2000's and I've seen our community grow and evolve over nearly years. I'm delighted to share my philosophies, principles, strategy and even some methods on developing a growing and long enduring online service.
Palm Beach Confidential is a financial investment advisory service that concentrates on cryptocurrencies and other small-cap possessions. It is run by financial investment advisory/publishing firm Palm Beach Research study Group. In our evaluation, you'll discover if Palm Beach Confidential is a legit newsletter with good investment advice or not. Among cryptocurrency's original goals was to produce a decentralized, peer-to-peer currency to decrease scams, as well as minimize dependence on main banking systems.
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