And so I stay with my approach. Now, if I have a concept that doesn't exercise, and I take a look at that concept, and I state, "Okay, existed a problem in my process?" Mm-hmm (affirmative). Right? And so if there is a problem in my process, or if I underwent FOMO which has definitely taken place, then I state, "Okay, you got sucked in by FOMO, that's a novice mistake, gain 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 probably a victim of FOMO, instead of it being a bad job.
Right? An excellent project bought at the incorrect rate, is still a bad trade. Yeah. So it simply returns to, again, controlling emotion. And in anything to do with money, emotion is normally the most significant perpetrator. Yeah, we call it riding the fear curve, right? Okay. So you wish to buy when there's a great deal of worry, and you want 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 produced a series of tools that will tip us off when fear is truly high. Okay. And that's when we'll take benefit of trades. So three, four weeks back, China was prohibiting ICOs, and there was massive worry in the market.
We purchased it, and after that when the world didn't come to an end, and then we started 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 development, of going against the herd, going versus the pattern.
Right? But so I have actually trained myself to, if the idea of putting on the trade definitely terrifies me if my insides seem like they're going into liquid, and I seem like I'm going to vomit by purchasing it, you've got to purchase it! Mm-hmm (affirmative). You've got to buy it.
Because it generally implies I'm quite high up on the green curve. Yeah. And let's talk about purchasing for a 2nd due to the fact that there are various takes on this. So there are folks that think that generally you require Bitcoin to purchase some of these other altcoins. You can in some cases use on some places, buy some of them without Bitcoin, with dollars or something.
But how does somebody prepare themselves to make the most of these fear-based chances? Since certainly with this pullback, if I would have had, state I had $10,000 sitting there all set to enter into the marketplace, but I had it stored in Bitcoin, I would have experienced it being drawn back also, still opportunity, but I'm losing a few of my worth.
Do you recommend individuals do something versus the other? See, this again, this is tricky right now, due to the fact that there's a lag between where you buy your Bitcoin and actually get it offered. Yes. Teeka: You have actually kind of got to have simply Bitcoin sitting there, all set to opportunistically trade. Now Coinbase has stated that they're going to provide immediate purchases.
So you can purchase your Bitcoin right away and have it available right away. I don't understand when that's presenting, or what limitations they're going to place on that. However I think that's an excellent action in the right instructions because that's a scenario where I can see something opportunistically, I can transform my fiat into Bitcoin and then purchase it.
I resemble, well fine, so my Bitcoin's down, I desire to purchase this other thing, however I actually don't want to get rid of my Bitcoin, 'cause my Bitcoin's inexpensive. Right. But then if I buy Bitcoin, I've got to wait a week for it to clear. So then the mathematics I have to do is I need to say, "Okay, over the next 2 to four 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 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 position sizing as you discussed, so state 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 will not appear for another 7 days approximately, however a minimum of I'm getting it at the exact same rate, and I'm kind of switching the 2 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 go into the core Bitcoin, I constantly replace the core Bitcoin.
Yeah. So to keep my core position constantly at this certain level that I want it to be at. Fantastic, terrific. Well once again, I appreciate the time. Prior to we begin to finish up here, I wanted to ask you, is there any final suggestions, ideas, over the last numerous years of what you've found out that you would motivate, simply kind of your typical, average folks who might not be early adopters yet, to understand about Bitcoin, Blockchain, cryptocurrency, in basic? Yeah, I would state, start.
Last year, 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 understand 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 fascinating, however 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 splits? And somebody took a seat with you and said, "Listen, this business's going to alter 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 discussing with position sizing, doing it uniform, you have extremely little disadvantage. 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 mean that might be actually life-altering money.
And it does not even take ten years. I imply, consider where we could be in 10 years, and I look at it, you type of said, "What if this is another Web?" And it advised me of my ideas on this. And I believe that this kind of movement is actually larger 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, really simple things like you pointed out with making files 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 disruption is that huge? I do. I need to be mindful, 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 take place that I never ever thought would occur. And as I pull the video camera back, and I see the development of this innovation, I'm with you. It will touch each and every single element of our life. The cryptocurrency market will end up being one of the world's largest property classes; it will equal the equity market, which is over $60 trillion huge today, versus the existing $200 billion.
Yeah. And but it will unfold in time, and there will be panics, and there will be fraud, and there will be federal government crackdowns, and there will be all this worry, uncertainty, and doubt throughout this process. Just like we saw with the Web, much like we saw with the rollout even of electrical power, of vehicles, of the railways.
However the bottom line is, if you got in early on any of those significant patterns, and were just wise sufficient to do absolutely nothing but just hold, you made a goddamn killing. And I believe that's an essential thing, just understanding the power of standing your ground. Act like Warren Buffet, you understand? Don't sell.
And it's fantastic what might begin to happen. And like you stated, in there, there's going to be so much of this disturbance. And to me that leads me to believe that there could be a new front-runner, there might 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 just wish to be so grateful for your time, hopefully, everybody's delighted in all this information and insight, however your journey's just getting begun. And I'm no professional, I've made the effort to inform myself and check out a lot about it, view a lot of it.
But the next action is you can simply click the link below to read more about what Teeka is doing, and how you can gain from him, follow some of his ideas, get his insights into what's occurring within the cryptocurrency space. And I highly suggest you do it, just because I've followed several of his ideas, and I know the results that I've experienced for myself, and I see what other individuals are getting as well.
And I fully believe that you can trust Teeka and his team. Not simply since I understand him exceptionally well, because I don't, but because I see how he prepares research study, and I see that he's doing the right things. Like, he's flying somewhere, satisfying the company, talking with them.
He's not simply like a scratching the surface type man. And that's what you desire. That is what you desire, and most significantly I see my history, my roots of all the method given that 2003 when I first discovered to trade stock alternatives, I constantly took a look at it from, how can I secure myself? If someone says, trading choices are exceptionally dangerous; they might say the same thing for cryptocurrency.
We spoke about some of them today. You understand, variety, consistent position sizing, protecting by just investing a specific quantity. All of these things are once again the suggestion of the iceberg of what you might be gaining from Teeka and his group. So again, check out the link below, take a look at his information, I highly suggest you buy his products, they're incredibly affordable for what worth you're getting, and we'll see you on the other side.
I think in building real long-term companies online and I'm the happy developer of Perfect Business 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 decades. I'm excited to share my philosophies, principles, technique and even some tactics on creating a growing and long lasting online organization.
Palm Beach Confidential is a financial investment advisory service that focuses on cryptocurrencies and other small-cap assets. It is run by financial investment advisory/publishing firm Palm Beach Research Group. In our evaluation, you'll discover if Palm Beach Confidential is a legitimate newsletter with good financial investment suggestions or not. Among cryptocurrency's initial goals was to produce a decentralized, peer-to-peer currency to lower scams, in addition to reduce reliance on central banking systems.
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