Therefore I adhere to my method. Now, if I have an idea 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? Therefore if there is an issue in my process, or if I was subject to FOMO which has actually certainly happened, then I say, "Okay, you got absorbed by FOMO, that's a rookie error, gain from it." So I would say, if I look at where I have, a couple of losers that I have actually had, I would state I was probably a victim of FOMO, instead of it being a bad job.
Right? A good job purchased the incorrect cost, is still a bad trade. Yeah. So it just comes back to, once again, controlling feeling. And in anything to do with cash, feeling is typically the biggest offender. Yeah, we call it riding the fear curve, right? Okay. So you desire to buy when there's a great deal of fear, and you want to offer, or take some revenue, a minimum of, when there's a lot of greed.
So what we've actually 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. Which's when we'll take benefit of trades. So 3, 4 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 concern an end, and after that we began 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 tell you it's tough to do. You're bucking a million years of development, of going against the herd, breaking the trend.
Right? But so I've trained myself to, if the idea of placing on the trade absolutely frightens me if my insides seem like they're going into liquid, and I feel like I'm going to throw up by buying it, you have actually got to buy it! Mm-hmm (affirmative). You have actually got to purchase it.
Since it usually means I'm pretty high up on the green curve. Yeah. And let's discuss purchasing for a second because there are different takes on this. So there are folks that think that normally you require Bitcoin to buy a few of these other altcoins. You can in some cases utilize on some places, buy some of them without Bitcoin, with dollars or something.
But how does someone prepare themselves to take advantage of these fear-based opportunities? Because clearly with this pullback, if I would have had, state I had $10,000 sitting there all set to enter into the market, however I had it kept in Bitcoin, I would have experienced it being drawn back as well, still opportunity, however I'm losing some of my value.
Do you recommend individuals do one thing versus the other? See, this once again, this is tricky right now, due to the fact that there's a lag between where you buy your Bitcoin and really get it offered. Yes. Teeka: You have actually kind 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 buy your Bitcoin immediately and have it offered immediately. I don't know when that's presenting, or what limits they're going to put on that. However I think that's an excellent step in the right direction since that's a circumstance 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 wish to purchase this other thing, but I truly don't want to get rid of my Bitcoin, 'cause my Bitcoin's low-cost. Right. But then if I purchase Bitcoin, I've got to wait a week for it to clear. So then the mathematics I need to do is I have to say, "Okay, over the next two to 4 weeks, which one do I think is going to move up more?" Right.
And here's what I've been doing, simply to kind of show folks. This is another strategy, and it depends upon your accessibility of funds, and just how much you're handling position sizing. But what I've been doing is I do place sizing as you pointed out, so say I wished 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 come into my account. It won't show up for another 7 days approximately, however at least I'm getting it at the same cost, and I'm type of switching the 2 out.
Yeah, I do the very same thing. You know, I have a core Bitcoin holding, and after that I'll have additional Bitcoin for trading. And if I've consumed 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 constantly at this certain level that I desire it to be at. Wonderful, wonderful. Well again, I value the time. Before we begin to finish up here, I wished to ask you, is there any final guidance, thoughts, over the last numerous years of what you've found out that you would motivate, just type of your regular, average folks who might not be early adopters yet, to comprehend about Bitcoin, Blockchain, cryptocurrency, in general? Yeah, I would say, get going.
Last year, I bought my child for her birthday, $400 worth of Bitcoin. And it's worth $6,000 today. Yeah. Right? I imply, just start, just get your feet damp. Go to Google, read some 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 wrong? Right.
Right? What if this is Apple computer at $5? What if this is Microsoft at $10, pre all the divides? And somebody sat down with you and stated, "Listen, this company's going to alter the world, it's going to be one of the most successful business in the world." 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 very 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 a total of $5,000, of a couple of thousand dollars, I indicate that could be actually life-changing cash.
And it doesn't even take ten years. I indicate, think of where we could be in 10 years, and I take a look at it, you sort of said, "What if this is another Internet?" And it advised me of my ideas on this. And I think that this kind of motion is in fact larger than the Web, due to the fact that we're more gradually advanced, and I think it's going to be a bigger disruptor.
I suggest, really simple things like you discussed with making documents no longer tamper-proof, and all the way to altering currencies. So do you feel that way? I indicate, do you kind 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 know, I have to exercise a measure of restraint.
I've seen things occur that I never ever thought would happen. And as I pull the cam back, and I see the progression of this technology, I'm with you. It will touch each and every single facet of our life. The cryptocurrency market will become one of the world's largest possession classes; it will equal the equity market, which is over $60 trillion big today, versus the existing $200 billion.
Yeah. And however it will unfold with time, and there will be panics, and there will be scams, and there will be federal government crackdowns, and there will be all this fear, unpredictability, and doubt throughout this procedure. Simply like we saw with the Web, similar to we saw with the rollout even of electricity, of cars, of the railways.
However the bottom line is, if you got in at an early stage any of those major trends, and were simply wise enough to do nothing however just hold, you made a goddamn killing. And I believe that's an essential thing, simply recognizing the power of standing your ground. Act like Warren Buffet, you know? Don't sell.
And it's incredible what could start to take place. And like you said, therein, there's going to be so much of this disruption. 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 want to be so grateful for your time, hopefully, everyone's taken pleasure in all this information and insight, however your journey's just getting going. And I'm no expert, I've made the effort to inform myself and check out a lot about it, enjoy a lot of it.
But the next step is you can simply click the link below to find out more about what Teeka is doing, and how you can learn from him, follow some of his tips, get his insights into what's happening within the cryptocurrency area. And I highly recommend you do it, merely due to the fact that I have actually followed numerous of his suggestions, and I know the outcomes that I have actually experienced for myself, and I see what other individuals are getting too.
And I completely think that you can rely on Teeka and his group. Not just since 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 best things. Like, he's flying someplace, meeting the company, talking with them.
He's not simply like a scratching the surface area type guy. Which's what you want. That is what you desire, and most importantly I see my history, my roots of all the way because 2003 when I initially discovered to trade stock options, I always looked at it from, how can I safeguard myself? If someone states, trading options are exceptionally risky; they might state the very same thing for cryptocurrency.
We talked about a few of them today. You understand, diversity, uniform position sizing, protecting by only investing a certain quantity. All of these things are once again the idea of the iceberg of what you might be gaining from Teeka and his team. So once again, have a look at the link below, have a look at his information, I extremely suggest you buy his products, they're exceptionally economical for what value you're getting, and we'll see you on the other side.
I think in constructing genuine long-lasting services online and I'm the happy creator of Perfect Service 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 thrilled to share my philosophies, concepts, method and even some methods on creating a growing and long-term online organization.
Palm Beach Confidential is a financial investment advisory service that concentrates on cryptocurrencies and other small-cap assets. It is run by investment advisory/publishing company Palm Beach Research study Group. In our evaluation, you'll discover if Palm Beach Confidential is a legit newsletter with excellent financial investment advice or not. Among cryptocurrency's initial objectives was to create a decentralized, peer-to-peer currency to lower scams, along with lower reliance on central banking systems.
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