There are many other offers out there to look at. Yeah, there's excessive chance. Yeah. And speaking of opportunity, you understand, you type of mentioned at the beginning, Bitcoin and Ethereum, the majority of people have heard of these two, especially Bitcoin, because it looks like it's in the news all the time, something or the other.

Have they failed on Bitcoin? Bitcoin is trading practically upwards of $6,000 recently; it's turned up from say $3,000 not too long earlier, it's quite volatile. Do they sort of wait on a pullback, or do they simply state, "Okay, I'm going to buy some Ethereum, I'm going to purchase some Bitcoin, see you in 10 years." You know? Yeah that's a terrific concern.

You can actually utilize small stakes, and transform them into life-altering quantities of cash. So I believe the initial step is, get clear on, if I lost all this cash tomorrow, if I put it in Bitcoin, I desire to make certain that it's not going to have me asking my parents for hamburger cash, and sleeping on their sofa.

And then on the very first 50% pullback that you see in Bitcoin, purchase the second half. And that way you're not going to get the perfect cost, however you're going to get a good rate. And then just leave it alone. And to your concern, is it too late to buy Bitcoin? Absolutely not.

It went from pennies to a hundred and modification, and then back to like, 5 dollars, and now it's overcome a half a trillion market cap. Yeah. So what you'll see is a similar scenario with Bitcoin. Now we also saw Bitcoin go from cents to $1,200, pull back to $200.

It's now in its phrase of going into its mainstream stage. Now, in order for it to be a currency, you're right, the volatility has to reduce greatly. And it can't reduce significantly till it gets actually above a trillion market cap. Okay. So the question is, what takes it to a trillion market cap if it can't be utilized as a currency? And it will be speculation that gets it there.

And what I'm trying to determine is, are you more simply put something in, if there's a pullback, put some more in. Yep. If it pulls back even further, look at your position sizes. If it makes sense, perhaps purchase once again. However don't get too captured up in the plus green balance in your account, or the minus red balance, you know? Since- Yep, 100%.

You will see a 50% pullback in Bitcoin at some time. Now we might go to $15,000 first, before that next 50% pullback. But you will see one. So put your half position on, wait on the very first 50% pullback, put your other position on, and strap in for the flight, 'cause it's going to be remarkable.

Yeah. Which leads me to feeling. I trade choices myself, too, and for me, stock trading and particularly option trading, fits my character profile. I'm extremely unemotional; I'm disciplined, I search for the finest, and after that enter the better. I'm really tactical about it. However the typical individual as we understand, is reactive, when it comes to investing, they desire to buy Amazon when it's now trading over $1,000, and they want to sell it when it's at $800, and purchase it back when it's at $1,200.

And I look at the same challenge with cryptocurrency, except I see it on a more extreme level, because it has an even larger FOMO mentality. Where people have this worry of missing out on out, they believe, I could have bought Bitcoin at pennies, and if I would have bought $100, I 'd have $70 million or whatever, you see these short articles all the time.

That was most likely not very great." And I had actually done that several times in these much lower numbers. However at that time these were revenues, right? These were real earnings. And who knew that it 'd be $5,000, $6,000, $20,000, whatever. So there is even some of this internal FOMO of like, what's the next one? Oh, I've got to discover it.

And outside of position sizing, how do you encourage the folks that you educate about cryptocurrencies to protect themselves from this FOMO, psychological spiral that can take place? Yeah, so once again, a lot of the time, every other week I put out a video, and I yap about rationality, being rational.

On our journey to producing wealth, it's not the government or somebody else or our moms and dads who are holding us back, right? It's all up in here. Since money does not care what color you are, it doesn't matter what school you went to; it doesn't care if you check out well, or if you are great looking, or if you are awful.

So we bring all of our own drama to a production of wealth. So a few of the things that I do to help us safeguard ourselves from that is diversity, to be modest sufficient to state, "Look, I might suggest an idea that could go to zero." And so we require to be diversified, and the other thing that we do is we use something called consistent position sizing.

So I'll provide you a prime example. I suggested an extremely, really little cryptocurrency earlier this year at 13 cents. And I stated, "Look, if you're a little player, probably put $200 to $400, perhaps $500 max in it. And if you're a bigger gamer, you can put $1000 into it." And so that specific coin went to as high as $50.

Yeah, yeah. Right? So, I'm not going to say that every single idea I take a look at does that. There are some concepts that have not worked out. However when you have a portfolio of concepts, and you utilize consistent position sizing, a few things take place. One, you're going to get lucky, best? You're going to have a couple of trades that are just fantastic.

Even if you have ten concepts with $500 each in, $5,000, for many people, they lose $5,000, if everything went to absolutely no, yeah, it's gon na suck. It's not pleasant. But it's not going to put you in the poorhouse, right? You're not going to be sitting outside of Grand Central Station with your hat in your hand begging for burger cash.

Because of the beauty here Ryan, you understand I get passionate about this, you've got to forgive me, however the beauty here is we're so early. Mm-hmm (affirmative). We're so early, that we do not need to be that intense, ideal? We need to be brilliant enough to have a core portfolio of great names, to have rational position sizing, and after that be bright sufficient to do nothing however wait.