And so I stick to my methodology. Now, if I have an idea that does not exercise, and I look at that concept, and I say, "Okay, existed an issue in my procedure?" Mm-hmm (affirmative). Right? And so if there is a problem in my process, or if I was subject to FOMO which has certainly taken place, then I state, "Okay, you got absorbed by FOMO, that's a rookie mistake, gain from it." So I would state, if I look at where I have, a number of losers that I have actually had, I would say I was most likely a victim of FOMO, instead of it being a bad project.
Right? An excellent task purchased at the incorrect cost, is still a bad trade. Yeah. So it just comes back to, again, controlling emotion. And in anything to do with money, feeling is normally the greatest offender. Yeah, we call it riding the worry curve, right? Okay. So you wish to purchase when there's a great deal of worry, and you wish to offer, or take some revenue, a minimum of, when there's a great deal of greed.
So what we've really done, and this is through my own hard-learned lessons, is we have actually created a series of tools that will tip us off when fear is actually high. Okay. Which's when we'll take advantage of trades. So three, four weeks earlier, China was prohibiting ICOs, and there was massive worry in the market.
We purchased it, and then when the world didn't pertain to 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 inform you it's hard to do. You're bucking a million years of development, of breaking the herd, breaking the pattern.
Right? However so I've trained myself to, if the concept of placing on the trade definitely frightens me if my withins seem like they're going into liquid, and I seem like I'm going to vomit by purchasing it, you've got to buy it! Mm-hmm (affirmative). You've got to buy it.
Due to the fact that it generally indicates I'm quite high up on the green curve. Yeah. And let's discuss purchasing for a 2nd because there are different handles this. So there are folks that think that normally you need Bitcoin to buy a few of these other altcoins. You can often use 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? Due to the fact that certainly with this pullback, if I would have had, say I had $10,000 sitting there all set to go into the marketplace, but I had it saved in Bitcoin, I would have experienced it being pulled back as well, still chance, however I'm losing a few of my worth.
Do you recommend individuals do one thing versus the other? See, this once again, this is difficult today, since there's a lag in 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 use instantaneous purchases.
So you can purchase your Bitcoin instantly and have it readily available instantly. I do not know when that's presenting, or what limitations they're going to put on that. However I think that's a terrific step in the ideal direction since that's a situation where I can see something opportunistically, I can convert my fiat into Bitcoin and then buy it.
I resemble, well fine, so my Bitcoin's down, I desire to purchase this other thing, however I actually don't desire 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 have to do is I have to state, "Okay, over the next 2 to 4 weeks, which one do I think is going to move up more?" Right.
And here's what I've been doing, just to type of show folks. This is another technique, and it depends upon your schedule of funds, and how much you're dealing with position sizing. However what I have actually been doing is I do position sizing as you discussed, so say I desired 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 purchase another $1,000 of Bitcoin and have that come into my account. It won't reveal up for another 7 days or two, but a minimum of I'm getting it at the exact same rate, and I'm sort of swapping the 2 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 utilized up all my additional Bitcoin that I have for trading, and I've got to go into the core Bitcoin, I always change the core Bitcoin.
Yeah. So to keep my core position constantly at this specific level that I want it to be at. Fantastic, terrific. Well once again, I appreciate the time. Before we start to wrap up here, I wished to ask you, is there any last advice, ideas, over the last a number of years of what you've discovered that you would encourage, simply kind of your normal, typical folks who might not be early adopters yet, to comprehend about Bitcoin, Blockchain, cryptocurrency, in basic? Yeah, I would say, start.
In 2015, I bought my child for her birthday, $400 worth of Bitcoin. And it deserves $6,000 today. Yeah. Right? I indicate, just start, just get your feet wet. Go to Google, checked out some short articles, go on Bitcoin. com. Simply understand 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 think it's sort 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 someone sat down with you and stated, "Listen, this company's going to alter the world, it's going to be one of the most lucrative companies 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 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 number of thousand dollars, I suggest that could be literally life-changing money.
And it does not even take 10 years. I mean, think about where we could be in 10 years, and I look at it, you type of stated, "What if this is another Web?" And it advised me of my ideas on this. And I believe that this type of movement is actually bigger than the Web, since we're more progressively advanced, and I think it's going to be a larger disruptor.
I mean, extremely simple things like you discussed with making files no longer tamper-proof, and all the way to altering currencies. So do you feel that method? I mean, do you kind of get that sense that the disturbance is that big? I do. I need to be cautious, Ryan, about being branded a zealot, and I need to be You know, I have to work out a step of restraint.
I have actually seen things take place that I never believed would take place. And as I pull the electronic camera back, and I see the development of this technology, I'm with you. It will touch every single element of our life. The cryptocurrency market will become one of the world's largest possession classes; it will measure up to the equity market, which is over $60 trillion huge right now, versus the current $200 billion.
Yeah. And however it will unfold gradually, 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. Similar to we saw with the Web, similar to we saw with the rollout even of electrical power, of automobiles, of the railways.
But the bottom line is, if you got in at an early stage any of those significant patterns, and were just smart enough to do absolutely nothing however simply hold, you made a goddamn killing. And I believe that's an essential thing, just realizing the power of standing your ground. Imitate Warren Buffet, you understand? Do not offer.
And it's incredible what might start to take place. And like you stated, therein, there's going to be so much of this disruption. And to me that leads me to think that there might be a new front-runner, there might be a different Bitcoin, or there could be some other cryptocurrency that hasn't even been believed of yet- Hasn't even been created yet, yeah.
And that leads me to, first I just want to be so grateful for your time, hopefully, everyone's enjoyed all this information and insight, but your journey's simply beginning. And I'm no expert, I have actually taken the time to educate myself and check out a lot about it, enjoy a great deal of it.
However the next action is you can just click on the link below to find out more about what Teeka is doing, and how you can find out from him, follow some of his tips, get his insights into what's happening within the cryptocurrency space. And I highly advise you do it, merely since I have actually followed numerous of his tips, and I understand the results that I have actually experienced for myself, and I see what other individuals are getting as well.
And I completely believe that you can trust Teeka and his group. Not simply because I know him incredibly well, since I don't, but due to the fact that I see how he prepares research, and I see that he's doing the best things. Like, he's flying someplace, satisfying the company, talking to them.
He's not similar to a scratching the surface type man. Which's what you want. 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 protect myself? If somebody says, trading alternatives are incredibly risky; they may say the same thing for cryptocurrency.
We talked about some of them today. You understand, variety, uniform position sizing, protecting by just investing a particular quantity. All of these things are again the idea of the iceberg of what you could be discovering from Teeka and his group. So once again, have a look at the link listed below, take a look at his details, I extremely recommend you purchase his products, they're incredibly inexpensive 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 Business Code (PB Code). I got my start online back in the early 2000's and I have actually seen our community grow and progress over nearly decades. I'm thrilled to share my viewpoints, principles, technique and even some tactics on creating a growing and long-term online company.
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