Therefore I adhere to my method. Now, if I have a concept that does not exercise, and I take a look at that idea, and I state, "Okay, was there an issue in my process?" Mm-hmm (affirmative). Right? And so if there is a problem in my procedure, or if I underwent FOMO which has certainly taken place, then I say, "Okay, you got absorbed by FOMO, that's a rookie mistake, gain from it." So I would state, if I look at where I have, a couple of losers that I have actually had, I would say I was most likely a victim of FOMO, instead of it being a bad project.
Right? A good job purchased the incorrect cost, is still a bad trade. Yeah. So it simply returns to, once again, controlling emotion. And in anything to do with cash, feeling is generally the most significant perpetrator. Yeah, we call it riding the fear curve, right? Okay. So you wish to purchase when there's a lot of fear, and you desire to offer, or take some profit, at least, 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 produced a series of tools that will tip us off when fear is truly high. Okay. And that's when we'll benefit from trades. So three, four weeks earlier, China was prohibiting ICOs, and there was massive fear in the market.
We purchased it, and after that when the world didn't come to an end, and after that 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 difficult to do. You're bucking a million years of evolution, of going versus the herd, breaking the pattern.
Right? However so I have actually trained myself to, if the idea of putting on the trade absolutely frightens me if my insides seem like they're entering into liquid, and I seem like I'm going to vomit by purchasing it, you have actually got to buy it! Mm-hmm (affirmative). You have actually got to purchase it.
Because it normally implies I'm pretty high up on the green curve. Yeah. And let's talk about purchasing for a second due to the fact that there are various takes on this. So there are folks that believe that generally you need Bitcoin to buy some of these other altcoins. You can in some cases utilize on some locations, buy a few of them without Bitcoin, with dollars or something.
However how does someone prepare themselves to benefit from these fear-based opportunities? Because obviously with this pullback, if I would have had, state I had $10,000 sitting there ready to go into the market, however I had it stored in Bitcoin, I would have experienced it being pulled back too, still chance, but I'm losing some of my worth.
Do you recommend individuals do one thing 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 readily available. Yes. Teeka: You've type of got to have just Bitcoin sitting there, prepared to opportunistically trade. Now Coinbase has said that they're going to provide instantaneous purchases.
So you can purchase your Bitcoin right away and have it available immediately. I do not understand when that's rolling out, or what limitations they're going to place on that. However I believe that's a great step in the ideal instructions since that's a situation where I can see something opportunistically, I can transform my fiat into Bitcoin and then buy it.
I'm like, well fine, so my Bitcoin's down, I want to buy this other thing, however I really don't desire to get rid of my Bitcoin, 'cause my Bitcoin's inexpensive. Right. However then if I buy Bitcoin, I've got to wait a week for it to clear. So then the math I have to do is I have to state, "Okay, over the next two to 4 weeks, which one do I think is going to go up more?" Right.
And here's what I have actually been doing, simply to kind of share with folks. This is another strategy, and it depends upon your schedule of funds, and how much you're dealing with position sizing. But what I have actually been doing is I do place sizing as you mentioned, so state I desired to purchase $1,000 of some coin.
If I have actually 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 into my account. It won't appear for another seven days or two, however at least I'm getting it at the very same rate, and I'm kind of swapping 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 have actually used up all my extra Bitcoin that I have for trading, and I have actually got to enter into the core Bitcoin, I constantly change the core Bitcoin.
Yeah. So to keep my core position constantly at this particular level that I desire it to be at. Fantastic, terrific. Well once again, I value the time. Before we begin to finish up here, I wished to ask you, exists any last suggestions, thoughts, over the last numerous years of what you've found out that you would motivate, just type of your normal, typical folks who might not be early adopters yet, to comprehend about Bitcoin, Blockchain, cryptocurrency, in general? Yeah, I would state, get going.
Last year, I purchased my child for her birthday, $400 worth of Bitcoin. And it deserves $6,000 today. Yeah. Right? I suggest, simply get going, just get your feet damp. Go to Google, read some short articles, go on Bitcoin. com. Simply 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." Or, "Ah, this sounds interesting, but I believe it's sort 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 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 rewarding business worldwide." And you're like, "Eh, Nah, we'll see what occurs." Right.
And if you utilize what you're speaking about with position sizing, doing it uniform, you have extremely little disadvantage. Correct. So at the end of the day, I indicate if it is Apple at $5, or Microsoft or whatever, and you're putting in a total of $5,000, of a couple of thousand dollars, I indicate that could be actually life-altering money.
And it does not even take ten years. I indicate, consider where we could be in 10 years, and I look at it, you sort of said, "What if this is another Internet?" And it reminded me of my ideas on this. And I believe that this type of motion is really bigger than the Web, due to the fact that we're more gradually advanced, and I believe it's going to be a larger disruptor.
I suggest, extremely easy things like you pointed out with making documents no longer tamper-proof, and all the method to changing currencies. So do you feel that way? I indicate, do you sort of get that sense that the interruption is that huge? I do. I need to beware, Ryan, about being branded a zealot, and I need to be You understand, I have to work out a procedure of restraint.
I have actually seen things happen that I never thought would occur. And as I pull the video camera back, and I see the progression of this technology, I'm with you. It will touch every single aspect of our life. The cryptocurrency market will turn into one of the world's largest possession classes; it will equal the equity market, which is over $60 trillion big today, versus the present $200 billion.
Yeah. And however 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, unpredictability, and doubt throughout this procedure. Simply like we saw with the Web, much like we saw with the rollout even of electrical power, of cars, of the railways.
But the bottom line is, if you got in early on any of those significant patterns, and were simply smart enough to do nothing but simply hold, you made a goddamn killing. And I believe that's a key thing, just realizing the power of standing your ground. Act like Warren Buffet, you understand? Don't sell.
And it's remarkable 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 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 considered yet- Hasn't even been developed yet, yeah.
And that leads me to, very first I simply desire to be so grateful for your time, hopefully, everyone's enjoyed all this details and insight, however your journey's just starting. And I'm no expert, I've taken the time to educate myself and read a lot about it, enjoy a great deal of it.
However the next step is you can just click the link below to discover more about what Teeka is doing, and how you can gain from him, follow some of his suggestions, get his insights into what's happening within the cryptocurrency space. And I extremely advise you do it, simply due to the fact that I have actually followed several of his recommendations, and I understand the results that I have actually experienced for myself, and I see what other individuals are getting as well.
And I completely believe that you can trust Teeka and his group. Not simply due to the fact that I understand him incredibly well, since I do not, however due to the fact that I see how he prepares research, and I see that he's doing the best things. Like, he's flying someplace, fulfilling the company, speaking to them.
He's not similar to a scratching the surface area type man. And that's what you want. That is what you desire, and most importantly I see my history, my roots of all the way given that 2003 when I initially discovered to trade stock options, I always took a look at it from, how can I safeguard myself? If somebody says, trading alternatives are extremely dangerous; they might say the exact same thing for cryptocurrency.
We talked about a few of them today. You understand, diversity, uniform position sizing, protecting by only investing a certain amount. All of these things are once again the suggestion of the iceberg of what you could be learning from Teeka and his group. So again, take a look at the link below, have a look at his info, I extremely advise you invest in his products, they're extremely inexpensive for what value you're getting, and we'll see you on the other side.
I believe in constructing genuine long-term services online and I'm the proud creator of Perfect Business Code (PB Code). I got my start online back in the early 2000's and I have actually seen our community grow and develop over nearly decades. I'm thrilled to share my viewpoints, principles, method and even some techniques on producing a flourishing and long-term online service.
Palm Beach Confidential is an investment advisory service that concentrates on cryptocurrencies and other small-cap assets. It is run by investment advisory/publishing firm Palm Beach Research Group. In our evaluation, you'll learn if Palm Beach Confidential is a legitimate newsletter with good financial investment suggestions or not. One of cryptocurrency's original aims was to develop a decentralized, peer-to-peer currency to lower fraud, as well as minimize dependence on main banking systems.
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