And so I stay with my methodology. Now, if I have an idea that doesn't exercise, and I take a look at that idea, and I state, "Okay, was there an issue in my procedure?" Mm-hmm (affirmative). Right? And so if there is an issue in my process, or if I underwent FOMO which has certainly occurred, then I say, "Okay, you got sucked in by FOMO, that's a rookie mistake, find out from it." So I would say, if I take a 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 project.
Right? A great job purchased the wrong cost, is still a bad trade. Yeah. So it simply returns to, once again, controlling feeling. And in anything to do with cash, feeling is typically the most significant offender. 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, at least, when there's a lot of greed.
So what we've in fact 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 really high. Okay. Which's when we'll make the most of trades. So three, 4 weeks back, China was banning ICOs, and there was massive fear in the market.
We purchased it, and then when the world didn't come to an end, and after that we started climbing up the greed curve, it was $32 a week later. 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 against the herd, going against the pattern.
Right? But so I have actually trained myself to, if the idea of placing on the trade definitely horrifies me if my insides seem like they're entering into liquid, and I seem like I'm going to vomit by buying it, you've got to purchase it! Mm-hmm (affirmative). You've got to buy it.
Because it normally means I'm quite high up on the green curve. Yeah. And let's talk about buying for a 2nd due to the fact that there are various handles this. So there are folks that think that typically you need Bitcoin to buy some of these other altcoins. You can often use on some locations, buy some of them without Bitcoin, with dollars or something.
However how does somebody prepare themselves to benefit from these fear-based opportunities? Since undoubtedly with this pullback, if I would have had, state I had $10,000 sitting there ready to enter into the marketplace, but I had it kept in Bitcoin, I would have experienced it being pulled back too, still chance, however I'm losing a few of my value.
Do you suggest people do something versus the other? See, this again, this is difficult right now, because there's a lag between where you purchase your Bitcoin and actually get it available. Yes. Teeka: You have actually kind of got to have simply Bitcoin sitting there, prepared to opportunistically trade. Now Coinbase has said that they're going to offer instant purchases.
So you can purchase your Bitcoin instantly and have it available immediately. I do not know when that's presenting, or what limits they're going to place on that. But I believe that's a great step in the ideal direction because 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 desire to buy this other thing, however I truly don't want to get rid of my Bitcoin, 'cause my Bitcoin's low-cost. Right. However then if I purchase Bitcoin, I have actually got to wait a week for it to clear. So then the mathematics I need 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, simply to type of show folks. This is another strategy, and it depends upon your accessibility of funds, and how much you're handling position sizing. However what I have actually been doing is I do place sizing as you mentioned, so say I wished 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 acquire another $1,000 of Bitcoin and have actually that come into my account. It won't appear for another seven days approximately, but at least I'm getting it at the exact same price, and I'm kind of switching the 2 out.
Yeah, I do the exact same thing. You know, I have a core Bitcoin holding, and then I'll have additional Bitcoin for trading. And if I have actually used up all my additional Bitcoin that I have for trading, and I've got to enter into the core Bitcoin, I constantly change the core Bitcoin.
Yeah. So to keep my core position always at this certain level that I desire it to be at. Fantastic, wonderful. Well again, I value the time. Prior to we begin to wrap up here, I wanted to ask you, is there any final guidance, ideas, over the last several years of what you've found out that you would encourage, just sort of your normal, average folks who might not be early adopters yet, to understand about Bitcoin, Blockchain, cryptocurrency, in basic? Yeah, I would state, begin.
In 2015, I bought my daughter for her birthday, $400 worth of Bitcoin. And it deserves $6,000 today. Yeah. Right? I imply, simply get going, simply get your feet damp. Go to Google, checked out 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 on." Or, "Ah, this sounds fascinating, 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 splits? And somebody took a seat with you and stated, "Listen, this business's going to alter the world, it's going to be among the most rewarding companies on the planet." And you resemble, "Eh, Nah, we'll see what happens." Right.
And if you utilize what you're speaking about with position sizing, doing it consistent, you have very 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 literally life-altering cash.
And it doesn't even take 10 years. I mean, think of where we could be in ten years, and I look at it, you kind 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 in fact larger than the Internet, due to the fact that we're more progressively advanced, and I believe it's going to be a bigger disruptor.
I indicate, extremely basic things like you pointed out with making documents no longer tamper-proof, and all the way to changing currencies. So do you feel that way? I suggest, do you kind of get that sense that the disturbance is that big? I do. I need to be careful, Ryan, about being branded a zealot, and I have to be You know, I need to exercise a step of restraint.
I've seen things take place that I never ever thought 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 each and every single element of our life. The cryptocurrency market will turn into one of the world's largest property classes; it will match the equity market, which is over $60 trillion big right now, versus the present $200 billion.
Yeah. And however it will unfold over time, and there will be panics, and there will be scams, and there will be federal government crackdowns, and there will be all this worry, uncertainty, and doubt throughout this process. Much like we saw with the Internet, just like we saw with the rollout even of electrical energy, of vehicles, of the railroads.
But the bottom line is, if you got in early on any of those significant trends, and were just smart enough to do absolutely nothing but simply hold, you made a goddamn killing. And I think that's a crucial thing, simply understanding the power of standing your ground. Act like Warren Buffet, you know? Don't sell.
And it's fantastic what might begin to happen. And like you stated, in there, there's going to be a lot of this disruption. And to me that leads me to believe that there might be a new front-runner, there might be a various Bitcoin, or there might be some other cryptocurrency that hasn't even been thought about yet- Hasn't even been produced yet, yeah.
Which leads me to, very first I simply want to be so grateful for your time, ideally, everyone's enjoyed all this info and insight, however your journey's simply getting going. And I'm no professional, I've made the effort to inform myself and read a lot about it, view a great deal of it.
But the next step is you can just click on the link below to discover more about what Teeka is doing, and how you can discover from him, follow some of his tips, get his insights into what's happening within the cryptocurrency area. And I highly suggest you do it, simply since I've followed numerous of his tips, and I know the outcomes that I have actually experienced for myself, and I see what other people are getting also.
And I completely believe that you can rely on Teeka and his team. Not simply due to the fact that I know him incredibly well, because I do not, but since I see how he prepares research study, and I see that he's doing the right things. Like, he's flying someplace, meeting the business, talking with them.
He's not similar to a scratching the surface area type man. And that's what you want. That is what you want, and most notably I see my history, my roots of all the way given that 2003 when I initially learned to trade stock choices, I always looked at it from, how can I safeguard myself? If somebody says, trading choices are extremely dangerous; they might state the exact same thing for cryptocurrency.
We discussed a few of them today. You know, variety, consistent position sizing, safeguarding by just investing a particular quantity. All of these things are again the pointer of the iceberg of what you could be discovering from Teeka and his group. So once again, check out the link listed below, check out his information, I extremely advise you invest in his items, they're exceptionally affordable for what worth you're getting, and we'll see you on the other side.
I believe in constructing genuine long-lasting companies online and I'm the happy creator of Perfect Business Code (PB Code). I got my start online back in the early 2000's and I have actually seen our neighborhood grow and progress over nearly decades. I'm excited to share my approaches, concepts, technique and even some strategies on developing a flourishing and long enduring online company.
Palm Beach Confidential is a financial investment advisory service that concentrates on cryptocurrencies and other small-cap properties. 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 legitimate newsletter with excellent investment suggestions or not. Among cryptocurrency's initial objectives was to create a decentralized, peer-to-peer currency to reduce scams, as well as lower dependence on central banking systems.
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