And so I adhere to my methodology. Now, if I have a concept that does not exercise, and I look at that concept, and I say, "Okay, existed an issue in my procedure?" Mm-hmm (affirmative). Right? Therefore if there is a problem in my process, or if I was subject to FOMO which has actually definitely happened, then I state, "Okay, you got absorbed by FOMO, that's a novice error, learn from it." So I would state, if I look at where I have, a number of losers that I've had, I would say I was probably a victim of FOMO, instead of it being a bad task.
Right? A great task purchased the incorrect price, is still a bad trade. Yeah. So it simply returns to, once again, controlling feeling. And in anything to do with money, feeling is typically the most significant perpetrator. Yeah, we call it riding the fear curve, right? Okay. So you want to buy when there's a lot of fear, and you wish to offer, or take some profit, a minimum of, when there's a great deal of greed.
So what we've actually done, and this is through my own hard-learned lessons, is we have actually developed a series of tools that will tip us off when fear is actually high. Okay. And that's when we'll benefit from trades. So 3, 4 weeks ago, China was prohibiting ICOs, and there was huge fear in the market.
We purchased it, and after that when the world didn't pertain to an end, and then we started climbing 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 inform you it's difficult to do. You're bucking a million years of evolution, of breaking the herd, breaking the trend.
Right? But so I have actually trained myself to, if the concept of placing on the trade definitely terrifies me if my insides seem like they're entering into liquid, and I feel like I'm going to throw up by purchasing it, you have actually got to purchase it! Mm-hmm (affirmative). You have actually got to purchase it.
Due to the fact that it usually indicates I'm quite high up on the green curve. Yeah. And let's talk about purchasing for a 2nd because there are various takes on this. So there are folks that believe that usually you require Bitcoin to purchase a few of these other altcoins. You can often 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? Because clearly with this pullback, if I would have had, say I had $10,000 sitting there all set to go into the market, however I had it saved in Bitcoin, I would have experienced it being drawn back as well, still chance, but I'm losing a few of my value.
Do you recommend individuals do one thing 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've type of got to have just Bitcoin sitting there, ready to opportunistically trade. Now Coinbase has said that they're going to provide instantaneous purchases.
So you can buy your Bitcoin immediately 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 great step in the right instructions since that's a circumstance where I can see something opportunistically, I can convert my fiat into Bitcoin and after that purchase it.
I'm like, well alright, so my Bitcoin's down, I wish to buy this other thing, however I really don't want 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 mathematics I have to do is I need to say, "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've been doing, just to kind of share with folks. This is another method, and it depends upon your availability of funds, and how much you're handling position sizing. However 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've got to trade the Bitcoin to do that, what I'll do is I will buy another $1,000 of Bitcoin and have actually that entered into my account. It won't appear for another 7 days or so, but a minimum of I'm getting it at the exact same price, and I'm type of switching the two out.
Yeah, I do the same thing. You know, I have a core Bitcoin holding, and after that I'll have extra Bitcoin for trading. And if I've consumed all my additional Bitcoin that I have for trading, and I have actually got to go into the core Bitcoin, I constantly change the core Bitcoin.
Yeah. So to keep my core position always at this particular level that I want it to be at. Terrific, fantastic. Well again, I value the time. Prior to we start to conclude here, I desired to ask you, is there any last advice, thoughts, over the last numerous years of what you've learned that you would encourage, just sort of your regular, average folks who might not be early adopters yet, to understand about Bitcoin, Blockchain, cryptocurrency, in general? Yeah, I would state, get started.
In 2015, I bought my daughter for her birthday, $400 worth of Bitcoin. And it's worth $6,000 today. Yeah. Right? I imply, just start, simply 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 saying, "Oh, I'll do it later on." Or, "Ah, this sounds interesting, however 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 system 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 change the world, it's going to be one of the most lucrative companies worldwide." And you resemble, "Eh, Nah, we'll see what takes place." Right.
And if you use what you're speaking about with position sizing, doing it uniform, you have extremely little drawback. 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 imply that could be actually life-altering cash.
And it doesn't even take 10 years. I suggest, think of where we could be in 10 years, and I take a look at it, you type of stated, "What if this is another Web?" And it advised me of my ideas on this. And I think that this type of movement is in fact bigger than the Internet, because we're more progressively advanced, and I think it's going to be a bigger disruptor.
I suggest, really basic things like you mentioned with making files no longer tamper-proof, and all the method to altering currencies. So do you feel that way? I mean, do you kind of get that sense that the interruption is that big? I do. I need to be cautious, Ryan, about being branded a zealot, and I have to be You know, I have to work out a measure of restraint.
I have actually seen things happen that I never thought would occur. And as I pull the electronic camera back, and I see the development of this innovation, I'm with you. It will touch every element of our life. The cryptocurrency market will end up being one of the world's biggest asset classes; it will rival the equity market, which is over $60 trillion big right now, versus the present $200 billion.
Yeah. And but it will unfold over time, and there will be panics, and there will be scams, and there will be government crackdowns, and there will be all this fear, unpredictability, and doubt throughout this process. Similar to we saw with the Web, similar to we saw with the rollout even of electrical power, of cars, of the railroads.
But the bottom line is, if you got in early any of those major trends, and were simply clever adequate to do 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. Imitate Warren Buffet, you know? Don't sell.
And it's remarkable what might start to take place. And like you said, in there, there's going to be so much of this interruption. And to me that leads me to think that there might be a new front-runner, there might be a different Bitcoin, or there might be some other cryptocurrency that hasn't even been believed of yet- Hasn't even been created yet, yeah.
Which leads me to, first I simply wish to be so grateful for your time, hopefully, everyone's enjoyed all this information and insight, but your journey's simply starting. And I'm no specialist, I have actually taken the time to educate myself and check out a lot about it, see a lot of it.
But the next step is you can simply click on the link listed below to find out more about what Teeka is doing, and how you can gain from him, follow a few of his suggestions, get his insights into what's taking place within the cryptocurrency area. And I highly recommend you do it, just because I've followed several of his suggestions, and I understand the results that I've experienced for myself, and I see what other people are getting as well.
And I totally believe that you can trust Teeka and his team. Not just since I understand him exceptionally well, because I don't, but due to the fact that I see how he prepares research, and I see that he's doing the ideal things. Like, he's flying somewhere, meeting the company, speaking to them.
He's not similar to a scratching the surface area type person. And that's what you desire. That is what you desire, and most importantly I see my history, my roots of all the way given that 2003 when I first learned to trade stock choices, I always took a look at it from, how can I secure myself? If someone says, trading choices are extremely risky; they may say the very same thing for cryptocurrency.
We talked about a few of them today. You understand, diversity, uniform position sizing, safeguarding by just investing a certain quantity. All of these things are once again the idea of the iceberg of what you might be discovering from Teeka and his team. So again, have a look at the link listed below, examine out his information, I highly advise you invest in his items, they're incredibly affordable for what worth you're getting, and we'll see you on the other side.
I believe in developing real long-term organizations online and I'm the happy creator 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 evolve over nearly decades. I'm thrilled to share my viewpoints, principles, technique and even some strategies on developing a thriving and long-term online business.
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