There are so numerous other offers out there to look at. Yeah, there's too much opportunity. Yeah. And speaking of opportunity, you understand, you type of mentioned at the beginning, Bitcoin and Ethereum, many individuals have heard of these two, particularly Bitcoin, since it appears like it's in the news all the time, something or the other.

Have they missed the boat on Bitcoin? Bitcoin is trading almost upwards of $6,000 just recently; it's shown up from state $3,000 not too long ago, it's quite unstable. Do they kind of await a pullback, or do they just state, "Okay, I'm going to purchase some Ethereum, I'm going to buy some Bitcoin, see you in 10 years." You understand? Yeah that's a terrific question.

You can literally use small stakes, and transform them into life-altering quantities of money. So I believe the primary step is, get clear on, if I lost all this money tomorrow, if I put it in Bitcoin, I wish to make certain that it's not going to have me begging my moms and dads for hamburger money, and sleeping on their couch.

And after that on the very first 50% pullback that you see in Bitcoin, buy the second half. Which method you're not going to get the best price, however you're going to get a great cost. And then simply leave it alone. And to your question, is it far too late to buy Bitcoin? Definitely not.

It went from pennies to a hundred and change, and after that back to like, five bucks, and now it's got over a half a trillion market cap. Yeah. So what you'll see is a comparable scenario with Bitcoin. Now we also saw Bitcoin go from pennies to $1,200, back down to $200.

It's now in its phrase of entering into its mainstream stage. Now, in order for it to be a currency, you're right, the volatility has to lessen greatly. And it can't diminish significantly up until it gets truly above a trillion market cap. Okay. So the concern 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 figure out is, are you more just put something in, if there's a pullback, put some more in. Yep. If it draws back even further, look at your position sizes. If it makes sense, possibly purchase once again. But don't get too caught 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 eventually. Now we may go to $15,000 first, before that next 50% pullback. But you will see one. So put your half position on, await the very first 50% pullback, put your other position on, and strap in for the ride, 'cause it's going to be amazing.

Yeah. And that leads me to emotion. I trade choices myself, too, and for me, stock trading and specifically option trading, fits my character profile. I'm very unemotional; I'm disciplined, I search for the finest, and after that enter the better. I'm really tactical about it. But the average individual as we understand, is reactive, when it comes to investing, they wish to purchase Amazon when it's now trading over $1,000, and they wish to sell it when it's at $800, and purchase it back when it's at $1,200.

And I take a look at the same obstacle with cryptocurrency, other than I see it on a more severe level, since it has an even larger FOMO mindset. Where individuals have this fear of missing out on out, they believe, I could have bought Bitcoin at cents, and if I would have purchased $100, I 'd have $70 million or whatever, you see these posts all the time.

That was most likely not excellent." And I had done that multiple times in these much lower numbers. But at that time these were profits, right? These were genuine earnings. And who understood 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 find it.

And beyond position sizing, how do you advise the folks that you inform about cryptocurrencies to safeguard themselves from this FOMO, emotional spiral that can take place? Yeah, so once again, a great deal of the time, every other week I put out a video, and I talk a lot about rationality, being reasonable.

On our journey to producing wealth, it's not the government or somebody else or our parents who are holding us back, right? It's all up in here. Due to the fact that money doesn't care what color you are, it does not matter what school you went to; it doesn't care if you read well, or if you are good looking, or if you are ugly.

So we bring all of our own drama to a development of wealth. So a few of the things that I do to help us protect ourselves from that is diversification, to be humble enough to say, "Look, I might suggest a concept that might go to no." Therefore we need 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 a very, very small cryptocurrency earlier this year at 13 cents. And I said, "Look, if you're a little player, most likely put $200 to $400, perhaps $500 max in it. And if you're a bigger player, you can put $1000 into it." Therefore that specific coin went to as high as $50.

Yeah, yeah. Right? So, I'm not going to say that every idea I take a look at does that. There are some concepts that have not exercised. But when you have a portfolio of concepts, and you use consistent position sizing, a couple of things occur. One, you're going to get fortunate, best? You're going to have a couple of trades that are simply fantastic.

Even if you have 10 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 draw. It's not pleasant. However 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.

Due to the fact that of the beauty here Ryan, you know I get passionate about this, you've got to forgive me, but the beauty here is we're so early. Mm-hmm (affirmative). We're so early, that we do not have to be that bright, best? We have to be intense adequate to have a core portfolio of great names, to have reasonable position sizing, and then be brilliant enough to do absolutely nothing however wait.