And so I stick to my methodology. Now, if I have a concept that does not work out, and I take a look at that idea, and I say, "Okay, existed a problem in my procedure?" Mm-hmm (affirmative). Right? Therefore if there is a problem in my procedure, or if I was subject to FOMO which has actually definitely taken place, then I say, "Okay, you got sucked in by FOMO, that's a rookie mistake, discover from it." So I would say, if I take a 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 task purchased the incorrect rate, is still a bad trade. Yeah. So it simply returns to, once again, controlling feeling. And in anything to do with money, feeling is normally the biggest culprit. Yeah, we call it riding the fear curve, right? Okay. So you wish to buy when there's a great deal of worry, and you wish to offer, or take some profit, 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've created a series of tools that will tip us off when worry is actually high. Okay. And that's when we'll make the most of trades. So three, four weeks back, China was prohibiting ICOs, and there was huge fear in the market.
We bought it, and then when the world didn't come to an end, and then we began climbing up the greed curve, it was $32 a week later on. Yes. So that's putting the fear/greed curve to work. Now, once again, I will inform you it's challenging to do. You're bucking a million years of development, of breaking the herd, breaking the trend.
Right? However so I have actually trained myself to, if the idea of putting on the trade absolutely frightens me if my insides feel like they're going into liquid, and I feel like I'm going to throw up by purchasing it, you've got to buy it! Mm-hmm (affirmative). You have actually got to purchase it.
Due to the fact that it usually suggests I'm quite high up on the green curve. Yeah. And let's speak about purchasing for a 2nd due to the fact that there are various takes on this. So there are folks that believe that typically you need Bitcoin to purchase a few of these other altcoins. You can often use on some places, purchase a few of them without Bitcoin, with dollars or something.
However how does someone prepare themselves to make the most of these fear-based chances? Due to the fact that clearly with this pullback, if I would have had, say I had $10,000 sitting there all set to go into the marketplace, however I had it stored in Bitcoin, I would have experienced it being drawn back also, still chance, however I'm losing a few of my worth.
Do you suggest people do something versus the other? See, this again, this is challenging right now, since there's a lag in between where you buy your Bitcoin and in fact 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 provide immediate purchases.
So you can buy your Bitcoin immediately and have it offered right away. I don't know when that's rolling out, or what limits they're going to put on that. However I believe that's an excellent action in the right instructions because that's a scenario where I can see something opportunistically, I can convert 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, but I truly don't wish to eliminate my Bitcoin, 'cause my Bitcoin's low-cost. Right. But 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 believe is going to move up more?" Right.
And here's what I have actually been doing, simply to kind of share with folks. This is another method, and it depends upon your accessibility of funds, and just how much you're dealing with position sizing. However what I've been doing is I do place sizing as you mentioned, so say I wished to purchase $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 that come into my account. It will not reveal up for another 7 days or two, but at least I'm getting it at the exact same cost, and I'm sort of switching the two out.
Yeah, I do the exact same thing. You understand, I have a core Bitcoin holding, and then I'll have extra Bitcoin for trading. And if I've consumed all my extra 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 constantly at this specific level that I want it to be at. Terrific, wonderful. Well again, I appreciate the time. Prior to we start to finish up here, I wished to ask you, exists any last guidance, thoughts, over the last a number of years of what you've discovered that you would encourage, simply kind of your regular, average folks who might not be early adopters yet, to comprehend about Bitcoin, Blockchain, cryptocurrency, in general? Yeah, I would say, start.
Last year, I bought my daughter for her birthday, $400 worth of Bitcoin. And it's worth $6,000 today. Yeah. Right? I suggest, just get going, just get your feet wet. Go to Google, checked out some short articles, 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." Or, "Ah, this sounds intriguing, however I believe it's kind of BS." You've got to ask yourself, what if you're incorrect? Right.
Right? What if this is Apple computer system at $5? What if this is Microsoft at $10, pre all the splits? And somebody sat down with you and stated, "Listen, this company's going to change the world, it's going to be one of the most successful business on the planet." 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 consistent, you have really 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 mean that might be actually life-altering cash.
And it doesn't even take ten years. I mean, think about where we could be in 10 years, and I look at it, you kind of stated, "What if this is another Web?" And it reminded me of my thoughts on this. And I think that this type of movement is in fact bigger than the Internet, since we're more gradually advanced, and I believe it's going to be a bigger disruptor.
I mean, extremely basic things like you mentioned with making documents no longer tamper-proof, and all the method to changing currencies. So do you feel that method? I suggest, do you sort 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 understand, I have to work out a measure of restraint.
I've seen things take place that I never ever thought would occur. And as I pull the electronic camera back, and I see the progression of this innovation, I'm with you. It will touch every single element of our life. The cryptocurrency market will become one of the world's biggest possession classes; it will match the equity market, which is over $60 trillion huge today, versus the existing $200 billion.
Yeah. And however it will unfold gradually, and there will be panics, and there will be fraud, and there will be government crackdowns, and there will be all this worry, unpredictability, and doubt throughout this process. Similar to we saw with the Web, much like we saw with the rollout even of electrical power, of automobiles, of the railroads.
However the bottom line is, if you got in at an early stage any of those major patterns, and were simply wise sufficient to do nothing but simply hold, you made a goddamn killing. And I believe that's a key thing, just recognizing the power of standing your ground. Imitate Warren Buffet, you know? Do not offer.
And it's remarkable what could begin to happen. And like you stated, in there, there's going to be so much of this disturbance. And to me that leads me to believe that there could be a brand-new front-runner, there could be a different Bitcoin, or there might be some other cryptocurrency that hasn't even been thought about yet- Hasn't even been created yet, yeah.
Which leads me to, very first I simply want to be so grateful for your time, hopefully, everybody's delighted in all this information and insight, but your journey's just starting. And I'm no expert, I've taken the time to educate myself and check out a lot about it, enjoy a lot of it.
However the next step is you can simply click on the link below to learn more about what Teeka is doing, and how you can learn from him, follow a few of his recommendations, get his insights into what's occurring within the cryptocurrency area. And I extremely suggest you do it, merely due to the fact that I have actually followed numerous of his ideas, and I know the outcomes that I have actually experienced for myself, and I see what other individuals are getting as well.
And I fully believe that you can trust Teeka and his group. Not simply because I know him exceptionally well, since I do not, 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, fulfilling the company, speaking to them.
He's not simply like a scratching the surface type person. And that's what you want. That is what you want, and most significantly I see my history, my roots of all the method since 2003 when I first found out to trade stock options, I always looked at it from, how can I protect myself? If someone states, trading alternatives are incredibly risky; they may say the exact same thing for cryptocurrency.
We spoke about some of them today. You know, diversity, uniform position sizing, securing by only investing a certain amount. All of these things are once again the tip of the iceberg of what you might be learning from Teeka and his team. So once again, take a look at the link below, take a look at his details, I highly suggest you buy 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 genuine long-term companies online and I'm the proud creator of Perfect Business Code (PB Code). I got my start online back in the early 2000's and I've seen our neighborhood grow and progress over almost decades. I'm thrilled to share my approaches, principles, method and even some strategies on creating a flourishing and long-term online service.
Palm Beach Confidential is a financial investment advisory service that focuses on cryptocurrencies and other small-cap properties. It is run by investment advisory/publishing firm Palm Beach Research study Group. In our review, you'll find out if Palm Beach Confidential is a legit newsletter with good financial investment recommendations or not. One of cryptocurrency's original aims was to produce a decentralized, peer-to-peer currency to decrease fraud, along with lower reliance on main banking systems.
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