1 00:00:04,600 --> 00:00:07,680 Speaker 1: So the big question is this, how do investors like 2 00:00:07,880 --> 00:00:11,800 Speaker 1: us get access to the ideas, information, and most importantly, 3 00:00:12,039 --> 00:00:14,880 Speaker 1: the right people that give us the tools and information 4 00:00:14,960 --> 00:00:19,000 Speaker 1: we need to make informed and educated decisions to have success. 5 00:00:19,600 --> 00:00:22,360 Speaker 1: That is the question, and this podcast will give us 6 00:00:22,360 --> 00:00:25,480 Speaker 1: the answers. This is Mark Moss, your host. Let's get 7 00:00:25,520 --> 00:00:29,000 Speaker 1: this started. Hello, and welcome to another episode of the 8 00:00:29,000 --> 00:00:33,120 Speaker 1: Market Disruptors podcast. Today I'm joined by Jacob Canfield, host 9 00:00:33,159 --> 00:00:38,120 Speaker 1: of the Crypto Traders podcast, and we get into cryptocurrency, 10 00:00:38,280 --> 00:00:42,360 Speaker 1: bitcoin and trading and investing. He is a well known trader, 11 00:00:42,720 --> 00:00:45,400 Speaker 1: number one ranked on Trading View, and we talk about 12 00:00:45,440 --> 00:00:48,600 Speaker 1: the difference of trading and investing. We talk about how 13 00:00:48,640 --> 00:00:52,880 Speaker 1: trading seems to line up with human sentiment of greed 14 00:00:52,920 --> 00:00:57,520 Speaker 1: and fear and how actually using technical analysis and fibinaci's 15 00:00:57,560 --> 00:01:00,640 Speaker 1: can predict where the markets are. Talk what the difference is. 16 00:01:00,680 --> 00:01:03,720 Speaker 1: We talked about how the average person should look at this, 17 00:01:03,880 --> 00:01:06,000 Speaker 1: especially if they want to try and time the markets 18 00:01:06,000 --> 00:01:09,160 Speaker 1: and do some technical analysis. Some really really good information 19 00:01:09,200 --> 00:01:11,520 Speaker 1: from one of the best traders out in the space today. 20 00:01:11,640 --> 00:01:13,639 Speaker 1: So let's go ahead, just jump right into it. Hey, everyone, 21 00:01:13,680 --> 00:01:16,839 Speaker 1: Welcome to another episode of the Market Disruptors podcast. Today, 22 00:01:16,880 --> 00:01:20,280 Speaker 1: I am joined by Jacob Canfield. He is from Signal Profits. 23 00:01:20,280 --> 00:01:24,760 Speaker 1: He's also the host of the Crypto Traders podcast. Um 24 00:01:24,800 --> 00:01:26,520 Speaker 1: he's someone that I've been following a long time. He's 25 00:01:26,560 --> 00:01:29,720 Speaker 1: a master of technical analysis and trading. And so, Jacob, 26 00:01:29,760 --> 00:01:32,080 Speaker 1: welcome to the show. Thanks for having me man, I 27 00:01:32,160 --> 00:01:34,640 Speaker 1: appreciate it been uh been a while. We've been talking 28 00:01:34,640 --> 00:01:38,680 Speaker 1: about doing a podcast together for about a year now. Yeah. Yeah, 29 00:01:38,720 --> 00:01:41,120 Speaker 1: I'm glad we're I'm surprised it's taking so long. I'm 30 00:01:41,120 --> 00:01:43,840 Speaker 1: glad we're finally doing that. Uh So, Jacob, So, I've 31 00:01:43,840 --> 00:01:46,120 Speaker 1: been working with you for a year and a half 32 00:01:46,400 --> 00:01:48,040 Speaker 1: and I know you really well. But for those that 33 00:01:48,120 --> 00:01:49,680 Speaker 1: don't know who you are, why don't you just give 34 00:01:49,720 --> 00:01:52,080 Speaker 1: us a little bit of background on how you got 35 00:01:52,120 --> 00:01:54,440 Speaker 1: to this space that you're working in, what you're working 36 00:01:54,440 --> 00:01:58,360 Speaker 1: on right now. Well, I've been doing technical analysis for 37 00:01:59,200 --> 00:02:01,760 Speaker 1: about a decade, aid a little bit longer, but but 38 00:02:01,920 --> 00:02:05,000 Speaker 1: full time professionally for about the last three to four years. 39 00:02:05,640 --> 00:02:08,359 Speaker 1: I started out in options back in college. I took 40 00:02:08,400 --> 00:02:11,600 Speaker 1: an options trading course. I've always had a really really 41 00:02:11,639 --> 00:02:16,600 Speaker 1: big heart and passion for fundamental analysis. I'm i myself am. 42 00:02:16,639 --> 00:02:21,040 Speaker 1: I am a technologist, a futurist. I really love emerging technologies. 43 00:02:21,280 --> 00:02:24,320 Speaker 1: I've always been on the cutting netge as far as adoption. UH. 44 00:02:24,360 --> 00:02:27,000 Speaker 1: So you know computers, uh, the iPhone. I was like 45 00:02:27,040 --> 00:02:29,720 Speaker 1: one of the first in line for an iPhone and uh. 46 00:02:29,760 --> 00:02:33,480 Speaker 1: And so my approach is really kind of just investing 47 00:02:33,639 --> 00:02:37,560 Speaker 1: in trading things that I have intimate knowledge about. UM. 48 00:02:37,560 --> 00:02:39,840 Speaker 1: I own a mobile application development company, so I know 49 00:02:40,160 --> 00:02:44,480 Speaker 1: the ins and outs of of mobile applications, Apple, um 50 00:02:44,840 --> 00:02:47,800 Speaker 1: technology like that. But I also have a background in healthcare, 51 00:02:47,880 --> 00:02:50,320 Speaker 1: so those have kind of been like my cross hybrid 52 00:02:50,360 --> 00:02:53,799 Speaker 1: of of my paths. I love e commerce, the healthcare 53 00:02:53,800 --> 00:02:58,519 Speaker 1: wellness industry, and then on the technology and the trading side. UM. 54 00:02:58,560 --> 00:03:02,440 Speaker 1: For me, it's all about quant afiable data, back testing strategies, 55 00:03:02,880 --> 00:03:07,200 Speaker 1: and uh. Trading just boils down to finding edges that 56 00:03:07,240 --> 00:03:10,640 Speaker 1: are greater than fifty and then employing those edges over 57 00:03:11,520 --> 00:03:13,880 Speaker 1: a long period of time, because if you have an 58 00:03:13,960 --> 00:03:17,239 Speaker 1: edge that works better than essentially you're gonna make money 59 00:03:17,240 --> 00:03:19,800 Speaker 1: in the long run. It's just kind of probability and statistics. 60 00:03:20,120 --> 00:03:21,840 Speaker 1: And so that's kind of how I approached the market. 61 00:03:21,880 --> 00:03:24,800 Speaker 1: I find strong fundamental projects and then I like to 62 00:03:24,800 --> 00:03:27,600 Speaker 1: trade them um and try and outperform just a buy 63 00:03:27,639 --> 00:03:29,920 Speaker 1: and hold strategy. So that's kind of how I approach 64 00:03:29,960 --> 00:03:34,120 Speaker 1: pretty much all of my UM investing thesis or trading 65 00:03:34,160 --> 00:03:37,120 Speaker 1: the Yeah, that's good. UM, So it's you know, you 66 00:03:37,200 --> 00:03:39,960 Speaker 1: bring up the difference of investing and trading, and you 67 00:03:40,000 --> 00:03:42,520 Speaker 1: talked about how you like to have a fundamental knowledge 68 00:03:42,560 --> 00:03:45,600 Speaker 1: of it and then trade against it. UM. Maybe for 69 00:03:45,640 --> 00:03:47,920 Speaker 1: a lot of people that aren't really sure what's what's 70 00:03:47,960 --> 00:03:50,440 Speaker 1: what do you think is the difference between trading and investing, 71 00:03:50,480 --> 00:03:53,040 Speaker 1: because sometimes those lines get blurred. Yeah, I just I 72 00:03:53,080 --> 00:03:56,040 Speaker 1: just tweeted this today. I said, don't trade like an 73 00:03:56,040 --> 00:03:59,680 Speaker 1: investor and don't invest like a trader. Uh. There are 74 00:04:00,120 --> 00:04:03,839 Speaker 1: pretty big fundamental differences between the two, and I would 75 00:04:03,840 --> 00:04:08,120 Speaker 1: say the biggest one is time commitment being a trader. 76 00:04:08,160 --> 00:04:11,440 Speaker 1: And there's different variations in different degrees of trading, whether 77 00:04:11,520 --> 00:04:14,640 Speaker 1: I mean, and there's a thousand different methods and strategies 78 00:04:14,680 --> 00:04:18,360 Speaker 1: for trading, whether you're a short term, long term, scalping, 79 00:04:18,520 --> 00:04:21,560 Speaker 1: swing trading, there's all kinds of different approaches. I mean, 80 00:04:21,839 --> 00:04:26,400 Speaker 1: the approaches are infinitesimal or sorry, infinite based on all 81 00:04:26,440 --> 00:04:28,760 Speaker 1: the different angles you can take But the really big 82 00:04:28,800 --> 00:04:31,920 Speaker 1: difference is time commitment. Investing is kind of a one 83 00:04:31,960 --> 00:04:35,400 Speaker 1: time thing. You buy and then you hold for based 84 00:04:35,440 --> 00:04:38,200 Speaker 1: on your thesis if yours is correct. Like Warren Buffett, 85 00:04:38,240 --> 00:04:40,880 Speaker 1: he says, you know, I invested, I invest in all 86 00:04:40,920 --> 00:04:43,760 Speaker 1: of these companies because I believe in the American economy. 87 00:04:43,839 --> 00:04:46,040 Speaker 1: So you know, if you if you don't think the 88 00:04:46,040 --> 00:04:48,520 Speaker 1: stock market's gonna go up, your essentially don't think that 89 00:04:48,560 --> 00:04:50,960 Speaker 1: the American economy is going to go up. And so 90 00:04:51,040 --> 00:04:52,920 Speaker 1: that's his investing thesis and that's how it kind of 91 00:04:52,960 --> 00:04:55,880 Speaker 1: approaches it. But from a trader's standpoint, you don't really 92 00:04:55,960 --> 00:04:59,920 Speaker 1: care too much about the backstory, the investing all that stuff. 93 00:05:00,080 --> 00:05:02,880 Speaker 1: It's really just kind of a time frame preference. You know, 94 00:05:02,920 --> 00:05:05,159 Speaker 1: are you short term, mid term, long term? And once 95 00:05:05,200 --> 00:05:07,720 Speaker 1: you have that kind of thesis behind it, then all 96 00:05:07,760 --> 00:05:09,719 Speaker 1: else it kind of applies. But the other aspect of 97 00:05:09,720 --> 00:05:12,600 Speaker 1: trading that that I think is a really big fundamental 98 00:05:12,640 --> 00:05:16,760 Speaker 1: difference is skill set. Uh, being a skillful trader and 99 00:05:16,800 --> 00:05:20,200 Speaker 1: being a profitable trader is incredibly difficult. There was a 100 00:05:20,240 --> 00:05:22,600 Speaker 1: study done on the i Q of traders and they 101 00:05:22,600 --> 00:05:24,480 Speaker 1: say that people that go into trading have some of 102 00:05:24,480 --> 00:05:27,719 Speaker 1: the highest i q's of the world. But there's a 103 00:05:27,800 --> 00:05:31,720 Speaker 1: rule that basically traders fail. And so when you have 104 00:05:32,000 --> 00:05:34,159 Speaker 1: a group of people that have already a really high 105 00:05:34,200 --> 00:05:36,600 Speaker 1: i Q and of those group of people, only ten 106 00:05:36,640 --> 00:05:40,080 Speaker 1: percent will actually succeed. Uh. It makes it a very 107 00:05:40,160 --> 00:05:44,119 Speaker 1: very competitive marketplace. It's very fierce, and so it's really 108 00:05:44,160 --> 00:05:46,240 Speaker 1: hard to make money as a trader, and so it 109 00:05:46,279 --> 00:05:49,719 Speaker 1: takes a long time to become good and profitable at trading. 110 00:05:50,279 --> 00:05:52,880 Speaker 1: And what I also see the difference between investing in 111 00:05:52,880 --> 00:05:57,400 Speaker 1: trading is that it most people they stop trying to 112 00:05:57,440 --> 00:06:00,440 Speaker 1: trade after about a year. Most people lose all of 113 00:06:00,480 --> 00:06:02,320 Speaker 1: their money within a year, or a lot of majority 114 00:06:02,360 --> 00:06:04,400 Speaker 1: of their money after about a year, and then they 115 00:06:04,480 --> 00:06:06,839 Speaker 1: just kind of switch over to investing because it's a 116 00:06:06,839 --> 00:06:09,240 Speaker 1: lot easier, and it's you know, because trading does take 117 00:06:09,240 --> 00:06:12,160 Speaker 1: time to become good at it. But what we call that, 118 00:06:12,279 --> 00:06:14,200 Speaker 1: you know, what we call the first year to three 119 00:06:14,279 --> 00:06:17,440 Speaker 1: years is tuition. Just like anything, it takes time to 120 00:06:17,480 --> 00:06:20,440 Speaker 1: get good. And with trading, the first three years, all 121 00:06:20,480 --> 00:06:22,720 Speaker 1: the money that you give to the market, to all 122 00:06:22,760 --> 00:06:25,520 Speaker 1: the other people who have been their ten, fifteen, twenty years, Uh, 123 00:06:25,560 --> 00:06:28,000 Speaker 1: that's the tuition to really learn how to trade over 124 00:06:28,040 --> 00:06:32,400 Speaker 1: the long term. So time preference, skill set, um, and 125 00:06:32,640 --> 00:06:35,360 Speaker 1: just just I mean, I think those are the two 126 00:06:35,440 --> 00:06:41,320 Speaker 1: biggest differentiators between investing and trading. But with investing, if 127 00:06:41,360 --> 00:06:44,880 Speaker 1: you're investing in like a fundamental ideology, let's say Bitcoin, 128 00:06:45,240 --> 00:06:48,720 Speaker 1: then your time horizon is drastically different than a trade. 129 00:06:49,000 --> 00:06:51,279 Speaker 1: Your time arizing goes you know, then goes up to 130 00:06:51,360 --> 00:06:55,120 Speaker 1: maybe ten even fifty years, kind of like investing in 131 00:06:55,640 --> 00:06:59,279 Speaker 1: um Forward or Amazon or Apple. If you if you 132 00:06:59,320 --> 00:07:01,680 Speaker 1: believe that the tech chnology is here to stay for 133 00:07:01,920 --> 00:07:05,960 Speaker 1: you know, an indefinite period of time, then you're investing 134 00:07:06,000 --> 00:07:08,479 Speaker 1: these just still holds true, the fundamentals still hold true. 135 00:07:08,480 --> 00:07:11,200 Speaker 1: That's a valuable, valuable company kind of no matter which 136 00:07:11,200 --> 00:07:13,240 Speaker 1: way the market moves, no matter how far your draw 137 00:07:13,280 --> 00:07:15,440 Speaker 1: down is. And so I think that's the that's the 138 00:07:15,440 --> 00:07:18,160 Speaker 1: biggest difference between the two. But for me, I try 139 00:07:18,160 --> 00:07:21,040 Speaker 1: to try, I try to employ kind of a combination 140 00:07:21,080 --> 00:07:24,400 Speaker 1: approach of fundamental and technical. I want to trade things 141 00:07:24,960 --> 00:07:29,240 Speaker 1: that I believe are emerging technologies because a it's got 142 00:07:29,240 --> 00:07:32,080 Speaker 1: the volume, be it's got the hype, um you know, 143 00:07:32,160 --> 00:07:33,800 Speaker 1: so that that's kind of what I'm looking for. I'm 144 00:07:33,840 --> 00:07:36,240 Speaker 1: looking for things that people are buying or things that 145 00:07:36,280 --> 00:07:38,480 Speaker 1: people are going to want to buy, And I have 146 00:07:38,560 --> 00:07:41,480 Speaker 1: a I have a combination approach where you know, part 147 00:07:41,520 --> 00:07:44,720 Speaker 1: of my money is an investing strategy. But I still 148 00:07:44,760 --> 00:07:47,760 Speaker 1: think that and we talked about this before, investing and 149 00:07:47,800 --> 00:07:52,520 Speaker 1: trading has this blurred line where you know, you can 150 00:07:52,560 --> 00:07:55,520 Speaker 1: be a an investor, but you also are a trader 151 00:07:55,520 --> 00:07:58,040 Speaker 1: because a you want to have a good entry. You 152 00:07:58,080 --> 00:08:00,880 Speaker 1: don't want to invest at the top of a massive 153 00:08:01,120 --> 00:08:05,480 Speaker 1: rally um where you know, every technical indicator is showing 154 00:08:05,480 --> 00:08:08,560 Speaker 1: that it's supposed to, you know, have a correction or downside, 155 00:08:08,920 --> 00:08:12,120 Speaker 1: and I don't like to invest into uh, you know, 156 00:08:12,320 --> 00:08:18,320 Speaker 1: very very poor macro economic structure, meaning you know, what's 157 00:08:18,320 --> 00:08:20,320 Speaker 1: going on with the Federal Reserve, what's going on with 158 00:08:20,360 --> 00:08:22,920 Speaker 1: all the geopolitical stuff around the world, is showing that, 159 00:08:23,280 --> 00:08:26,080 Speaker 1: you know, the dollar might strengthen, showing stocks might be 160 00:08:26,120 --> 00:08:28,280 Speaker 1: going to I don't want to invest into a climate 161 00:08:28,320 --> 00:08:31,400 Speaker 1: like that, So I like to time it with technicals, 162 00:08:31,400 --> 00:08:34,199 Speaker 1: but I like to tie my position trades, meaning my 163 00:08:34,280 --> 00:08:39,880 Speaker 1: longer term investments into like a really strong downtrend UH 164 00:08:39,880 --> 00:08:44,440 Speaker 1: into a fundamental project, right like if if Amazon drops, 165 00:08:44,880 --> 00:08:47,839 Speaker 1: I'm not gonna blink at buying it because the fundamentals 166 00:08:47,840 --> 00:08:50,559 Speaker 1: don't change from the week before to the week after. 167 00:08:50,679 --> 00:08:54,200 Speaker 1: It's it's you know, I'd rather buy into blood rather 168 00:08:54,240 --> 00:08:58,400 Speaker 1: than buying into euphoria onto my fundamental and you know, 169 00:08:58,480 --> 00:09:01,839 Speaker 1: beliefs or my fundamental project. Yeah, so I think it it. 170 00:09:02,160 --> 00:09:04,800 Speaker 1: I think what you're saying, though, it really depends on 171 00:09:04,840 --> 00:09:07,880 Speaker 1: the specific asset class itself. So, um, when you're talking 172 00:09:07,920 --> 00:09:11,520 Speaker 1: about more broader based assets like Amazon, for example, there's 173 00:09:11,640 --> 00:09:17,679 Speaker 1: strong fundamentals, meaning assets cash flow, returns on cash flow, earnings, 174 00:09:17,760 --> 00:09:21,320 Speaker 1: things like that, and so the fundamentals, as you say, 175 00:09:21,360 --> 00:09:25,160 Speaker 1: don't change, although the price could change. So then technically, um, 176 00:09:25,200 --> 00:09:27,160 Speaker 1: that gives you good entries. But I think when you 177 00:09:27,200 --> 00:09:30,360 Speaker 1: get into stuff like cryptocurrencies, for example, you don't have 178 00:09:30,440 --> 00:09:34,160 Speaker 1: those fundamentals, so there is no cash flow, there is 179 00:09:34,200 --> 00:09:37,240 Speaker 1: no assets, earnings, et cetera. And so then do you 180 00:09:37,280 --> 00:09:41,000 Speaker 1: think that's really all more speculation or trading. I mean, 181 00:09:41,240 --> 00:09:44,800 Speaker 1: technically that's not investing, right, It's I would think it's 182 00:09:44,800 --> 00:09:47,400 Speaker 1: almost all speculation that it's going to be up, go 183 00:09:47,480 --> 00:09:50,120 Speaker 1: up and value in the future. Yeah, And I think 184 00:09:50,240 --> 00:09:54,640 Speaker 1: I think an important point is to segregate bitcoin from 185 00:09:54,640 --> 00:09:57,240 Speaker 1: the rest of the market. I think that bitcoin does 186 00:09:57,320 --> 00:10:00,880 Speaker 1: have fundamentals, It has a value prop position, and it 187 00:10:00,920 --> 00:10:04,199 Speaker 1: does have You can actually calculate how much each bitcoin 188 00:10:04,280 --> 00:10:06,959 Speaker 1: is worth based on the electricity consumption that it takes 189 00:10:06,960 --> 00:10:10,120 Speaker 1: to actually produce one bitcoin into power the bitcoin network. 190 00:10:10,200 --> 00:10:13,320 Speaker 1: So there is some there is some you know, uh, 191 00:10:13,520 --> 00:10:17,280 Speaker 1: fundamental value in what you can define with bitcoin. And 192 00:10:17,320 --> 00:10:20,360 Speaker 1: also what is bitcoin kind of competing against and what 193 00:10:20,520 --> 00:10:23,880 Speaker 1: is its long term speculative value and uh, you know, 194 00:10:23,880 --> 00:10:27,560 Speaker 1: for bitcoin, it's the entire you know, monetary supply. Any 195 00:10:27,600 --> 00:10:30,439 Speaker 1: currency can go into Bitcoin. It's an alternative asset class, 196 00:10:30,440 --> 00:10:32,400 Speaker 1: and so that has that you kind of have to 197 00:10:32,400 --> 00:10:36,680 Speaker 1: segregate that from the rest of the cryptocurrency market. But yes, uh, 198 00:10:36,760 --> 00:10:39,400 Speaker 1: you know people and in a very good example is Ripple. 199 00:10:39,960 --> 00:10:43,680 Speaker 1: Ripple the company has cash flow at has earnings, but 200 00:10:43,760 --> 00:10:46,719 Speaker 1: you're not buying equity into Ripple. You're buying the x 201 00:10:46,840 --> 00:10:48,880 Speaker 1: RP token, which used to be called Ripple but now 202 00:10:48,880 --> 00:10:52,840 Speaker 1: it's just called XRP. But x RP has really no 203 00:10:53,040 --> 00:10:57,600 Speaker 1: fundamental basis for it other than it's a use case 204 00:10:57,720 --> 00:11:02,680 Speaker 1: for maybe money remittance or money transfers across the world. Uh, 205 00:11:02,760 --> 00:11:06,160 Speaker 1: And so that one you can't really put much of 206 00:11:06,200 --> 00:11:08,960 Speaker 1: a fundamental thesis behind it. There's nothing you can really 207 00:11:09,360 --> 00:11:13,040 Speaker 1: measure it on. And especially because it's essentially controlled entity 208 00:11:13,440 --> 00:11:16,360 Speaker 1: with as far as like supply is concerned, ripple controls 209 00:11:16,360 --> 00:11:20,079 Speaker 1: six it. So with that, I base almost all of 210 00:11:20,120 --> 00:11:24,400 Speaker 1: my investing or trading decisions on technical indicators. And so 211 00:11:24,679 --> 00:11:29,480 Speaker 1: for me, technicals are the benchmark for what I should 212 00:11:29,480 --> 00:11:34,080 Speaker 1: base all of my decisions for cryptocurrency on, because who 213 00:11:34,120 --> 00:11:36,720 Speaker 1: controls the decisions of a lot of these things are 214 00:11:36,920 --> 00:11:41,280 Speaker 1: market makers and algorithms and and frequency and high frequency 215 00:11:41,320 --> 00:11:45,240 Speaker 1: traders in the market, and they use technical indicators as 216 00:11:45,280 --> 00:11:47,480 Speaker 1: a basis for almost all of their decisions. And so 217 00:11:47,559 --> 00:11:52,360 Speaker 1: a lot of these uh quant programs are programmed by humans, 218 00:11:52,400 --> 00:11:55,480 Speaker 1: and humans are looking at the technicals um and very 219 00:11:55,520 --> 00:11:59,520 Speaker 1: little if any have fundamental basis uh and they are 220 00:11:59,559 --> 00:12:03,559 Speaker 1: almost all speculative, which makes the cryptocurrency markets a beautiful 221 00:12:03,559 --> 00:12:07,600 Speaker 1: market to trade because you're basically trading on emotion. You're 222 00:12:07,640 --> 00:12:11,040 Speaker 1: trading on fear and greed and and those two emotions 223 00:12:11,080 --> 00:12:15,040 Speaker 1: and hope, right, and those two emotions are very very 224 00:12:15,040 --> 00:12:18,640 Speaker 1: profitable to trade off of and very easy to trade 225 00:12:18,679 --> 00:12:22,000 Speaker 1: off of because there's such there's such a reactive Uh, 226 00:12:22,679 --> 00:12:25,480 Speaker 1: it's such a reactive method of trading. Yeah, I want 227 00:12:25,480 --> 00:12:27,720 Speaker 1: to get into that. That's an important piece that I 228 00:12:27,720 --> 00:12:30,040 Speaker 1: wanted to touch on. But before we do so back 229 00:12:30,080 --> 00:12:32,120 Speaker 1: to your original tweet, you talked about where the best 230 00:12:32,160 --> 00:12:35,439 Speaker 1: investors are traders or traders shouldn't invest like investors and 231 00:12:35,480 --> 00:12:38,160 Speaker 1: investors not like traders. But I think, um, there's one 232 00:12:38,240 --> 00:12:41,319 Speaker 1: common trade that I like, and you talked about um 233 00:12:41,360 --> 00:12:45,040 Speaker 1: having that thesis, and so I what I like that 234 00:12:45,120 --> 00:12:48,079 Speaker 1: I see with traders as traders are getting in looking 235 00:12:48,120 --> 00:12:49,600 Speaker 1: to get in at a certain entry and out at 236 00:12:49,640 --> 00:12:53,000 Speaker 1: a certain exit. And I think a lot of a 237 00:12:53,000 --> 00:12:55,680 Speaker 1: lot of investors maybe a lot of times, like you said, 238 00:12:55,679 --> 00:12:58,240 Speaker 1: it's not it's easier maybe right, So they just buy 239 00:12:58,280 --> 00:13:00,520 Speaker 1: Amazons that's gonna go up, I'm gonna buy bitcoins is 240 00:13:00,559 --> 00:13:02,280 Speaker 1: going to go up or whatever, but they don't really 241 00:13:02,320 --> 00:13:05,240 Speaker 1: think about the exit, like at what point should I 242 00:13:05,280 --> 00:13:08,320 Speaker 1: take a profit? What's my thesis? Do I believe that 243 00:13:08,559 --> 00:13:11,760 Speaker 1: when I bought Amazon that I believe that e commerce 244 00:13:11,800 --> 00:13:13,199 Speaker 1: was going to change the world in Amazon will be 245 00:13:13,240 --> 00:13:15,960 Speaker 1: the leader? If so, I wait that long? Or do 246 00:13:16,040 --> 00:13:18,400 Speaker 1: I think I'm buying it? Bitcoin in ten thousand day 247 00:13:18,400 --> 00:13:20,000 Speaker 1: and it's gonna go to twenty tho, I'm gonna sell 248 00:13:20,040 --> 00:13:23,120 Speaker 1: out there, right, So what do you think about that, uh, 249 00:13:23,160 --> 00:13:26,520 Speaker 1: that investing thesis that that I guess investors could learn 250 00:13:26,600 --> 00:13:29,679 Speaker 1: from traitors. Well, it's that that's a that's a hard 251 00:13:29,760 --> 00:13:34,320 Speaker 1: thing to really judge. Right when is the best time 252 00:13:34,360 --> 00:13:37,160 Speaker 1: to sell? Right? Because people, people that bought it at 253 00:13:37,160 --> 00:13:39,840 Speaker 1: twenty thous what if bitcoin goes to a million dollars, 254 00:13:39,840 --> 00:13:42,320 Speaker 1: They're gonna look like a genius? Right, And I'm I'm 255 00:13:42,440 --> 00:13:46,400 Speaker 1: working on this post or this this article. Basically I did. 256 00:13:46,520 --> 00:13:49,040 Speaker 1: I did a tweet about a week ago that said, 257 00:13:49,960 --> 00:13:53,120 Speaker 1: given enough time, bitcoin is an asset that makes everyone 258 00:13:53,200 --> 00:13:55,400 Speaker 1: look like a genius, no matter where they bought it at. 259 00:13:55,840 --> 00:13:59,400 Speaker 1: And the whole concept is looking at every bubble of bitcoin, 260 00:13:59,800 --> 00:14:02,240 Speaker 1: and everybody who bought at the top, no matter how 261 00:14:02,360 --> 00:14:05,200 Speaker 1: high you know, at the very tippy top, is a 262 00:14:05,240 --> 00:14:08,600 Speaker 1: genius unless you bought it twenty But we are rapidly 263 00:14:08,600 --> 00:14:11,720 Speaker 1: approaching that. We are going to make them geniuses too. 264 00:14:11,960 --> 00:14:14,200 Speaker 1: And so if you bought it a hundred dollars before 265 00:14:14,280 --> 00:14:18,200 Speaker 1: a crash down to you know, a dollar, you're still 266 00:14:18,200 --> 00:14:21,880 Speaker 1: a genius because even if you held draw down and 267 00:14:22,200 --> 00:14:24,080 Speaker 1: it went all the way to the current price. Now 268 00:14:24,080 --> 00:14:27,000 Speaker 1: at ten thousand dollars, you still made a hundred extra 269 00:14:27,080 --> 00:14:28,840 Speaker 1: turn on your money, a hundred dollars to ten thousand. 270 00:14:29,160 --> 00:14:31,400 Speaker 1: If you bought at you know, two thousand dollars, you 271 00:14:31,440 --> 00:14:33,480 Speaker 1: bought a five thousand dollars. If you bought at twenty 272 00:14:33,520 --> 00:14:36,240 Speaker 1: tho dollars. I think in five years, if, if, if, 273 00:14:36,280 --> 00:14:39,720 Speaker 1: and when bitcoin gets to two hift dollars, you're still 274 00:14:39,720 --> 00:14:42,160 Speaker 1: gonna look like an incredible genius because you've just ten 275 00:14:42,200 --> 00:14:44,000 Speaker 1: extrar money. You've made a hundred percent on your money 276 00:14:44,400 --> 00:14:46,160 Speaker 1: in one of the fastest great asset classes. And so 277 00:14:46,200 --> 00:14:51,120 Speaker 1: that's really hard to say because holding holding bitcoin, I know, 278 00:14:51,200 --> 00:14:55,320 Speaker 1: it's become a meme is very very difficulty. They say 279 00:14:55,360 --> 00:14:58,360 Speaker 1: it's super easy, but it's actually really really difficult. You 280 00:14:58,400 --> 00:15:02,000 Speaker 1: have to have the gut in the fortitude of you know, 281 00:15:03,080 --> 00:15:05,880 Speaker 1: a mercenary right. You have to really be able to 282 00:15:05,920 --> 00:15:08,240 Speaker 1: hold through some massive draw downs. Bitcoin went from twenty 283 00:15:08,280 --> 00:15:11,600 Speaker 1: thousand to three thousand. Most people capitulated. You could see 284 00:15:11,600 --> 00:15:16,359 Speaker 1: the um. It's called the day the decay of of um. 285 00:15:16,400 --> 00:15:19,240 Speaker 1: It's like basically the time of decay for bitcoin. Hold 286 00:15:19,280 --> 00:15:22,000 Speaker 1: alurs and and it's basically the amount of new money 287 00:15:22,080 --> 00:15:24,920 Speaker 1: that comes into the amount of old bitcoin that gets exchanged. 288 00:15:24,920 --> 00:15:27,120 Speaker 1: And I had the highest volume at three thousand, two hundred, 289 00:15:27,160 --> 00:15:28,400 Speaker 1: and I said, I think a lot of the old 290 00:15:28,440 --> 00:15:31,760 Speaker 1: holdelers who bought at you know, five hundred thousand dollars, 291 00:15:31,800 --> 00:15:34,360 Speaker 1: I think they capitulated at because I thought. I think 292 00:15:34,400 --> 00:15:36,840 Speaker 1: they thought it was gonna go much much lower. And 293 00:15:36,880 --> 00:15:39,720 Speaker 1: so it's really interesting because if you believe in the 294 00:15:39,720 --> 00:15:43,400 Speaker 1: thesis and you believe that, you know, bitcoin can become 295 00:15:43,920 --> 00:15:47,520 Speaker 1: a world currency, the sky is really the limit because 296 00:15:47,520 --> 00:15:50,920 Speaker 1: now you're talking seven hundred billion dollars in derivative assets, 297 00:15:50,920 --> 00:15:53,560 Speaker 1: and you're talking, uh, the you know, the monetary supply 298 00:15:53,760 --> 00:15:56,760 Speaker 1: of the UK, the British pound, that the US dollar 299 00:15:56,760 --> 00:15:59,800 Speaker 1: and all that stuff. So having an exit in mind 300 00:15:59,840 --> 00:16:02,600 Speaker 1: for bitcoin is very tough. I think that's probably one 301 00:16:02,640 --> 00:16:05,440 Speaker 1: of the hardest assets to really kind of peg down. 302 00:16:05,840 --> 00:16:08,520 Speaker 1: As a trader, you can definitely figure out when you 303 00:16:08,520 --> 00:16:10,600 Speaker 1: want a time in and time out. And one of 304 00:16:10,640 --> 00:16:13,680 Speaker 1: my thesis that I've always held true, and one thing 305 00:16:13,720 --> 00:16:18,480 Speaker 1: that saved me in seventeen was if an investment or 306 00:16:18,520 --> 00:16:22,040 Speaker 1: a trade, if you take profits and it's enough to 307 00:16:22,200 --> 00:16:25,280 Speaker 1: change your life or change the circumstances of your life 308 00:16:25,800 --> 00:16:28,960 Speaker 1: for the better are on the table. I would always 309 00:16:29,000 --> 00:16:32,000 Speaker 1: recommend at least taking that because you never know what's 310 00:16:32,000 --> 00:16:34,840 Speaker 1: gonna happen. You never know, you know, tomorrow the whole 311 00:16:35,200 --> 00:16:38,360 Speaker 1: UH landscape could change with regulations, fadd on ramps, all 312 00:16:38,360 --> 00:16:41,040 Speaker 1: the steven things, and your investment that is, you know, 313 00:16:41,120 --> 00:16:43,280 Speaker 1: basically set you up for life, or set you up 314 00:16:43,280 --> 00:16:45,280 Speaker 1: for the next ten fifteen years to be able to 315 00:16:45,480 --> 00:16:47,440 Speaker 1: live life to the fullest, have the freedom you want, 316 00:16:47,520 --> 00:16:49,840 Speaker 1: retire from your job, you know, give you time to 317 00:16:49,880 --> 00:16:52,640 Speaker 1: find a new job. If you don't take that, UH, 318 00:16:52,680 --> 00:16:54,600 Speaker 1: then then it's always gonna It's always gonna be in 319 00:16:54,640 --> 00:16:56,120 Speaker 1: the back of your mind. It's always gonna beat you 320 00:16:56,200 --> 00:16:58,600 Speaker 1: up if it if it crashes, or if the price 321 00:16:58,880 --> 00:17:01,520 Speaker 1: turns around. And I think the biggest thing about bitcoin 322 00:17:01,520 --> 00:17:04,199 Speaker 1: and cryptocurrencies is fomo, the fear of missing out. I 323 00:17:04,200 --> 00:17:07,480 Speaker 1: see people buying at the bottoms of you know, every 324 00:17:07,480 --> 00:17:10,040 Speaker 1: single dip, every single dip, every single dip, because they're 325 00:17:10,080 --> 00:17:13,720 Speaker 1: so afraid of missing that one candle that you know 326 00:17:13,720 --> 00:17:16,880 Speaker 1: it goes up with thousands. But the markets don't move 327 00:17:16,960 --> 00:17:20,239 Speaker 1: like that. Bottoms don't form off of um you know, 328 00:17:20,840 --> 00:17:24,199 Speaker 1: off of just one single candle. Typically bottoms take you know, 329 00:17:24,280 --> 00:17:27,280 Speaker 1: time to form and so, and there's always time to 330 00:17:27,480 --> 00:17:30,439 Speaker 1: enter into an uptrending market. I think you have a 331 00:17:30,560 --> 00:17:34,040 Speaker 1: very famous quote of Rockefeller where he says he made 332 00:17:34,119 --> 00:17:36,880 Speaker 1: the most money not by getting into earlier getting out, 333 00:17:37,040 --> 00:17:38,679 Speaker 1: you know, getting into the bottom or getting out at 334 00:17:38,720 --> 00:17:40,399 Speaker 1: the top. He always made his money in the middle 335 00:17:40,520 --> 00:17:43,359 Speaker 1: by just following the trend and then exiting before the 336 00:17:43,480 --> 00:17:46,040 Speaker 1: before the top was formed. So that's kind of my 337 00:17:46,119 --> 00:17:48,920 Speaker 1: investing thesis for bitcoin. I know, you know where my 338 00:17:49,440 --> 00:17:51,680 Speaker 1: exit points are. I know where my entry points are, 339 00:17:52,080 --> 00:17:53,960 Speaker 1: and you know, for me, it's it's about you know, 340 00:17:54,080 --> 00:17:56,080 Speaker 1: making enough money to to form freedom. But I do 341 00:17:56,160 --> 00:17:58,919 Speaker 1: have a portion of it where I just never touch it, 342 00:17:59,240 --> 00:18:03,080 Speaker 1: right because my thesis is that bitcoin could eventually take 343 00:18:03,119 --> 00:18:06,359 Speaker 1: over as a global revert reserve currency. It's the best 344 00:18:06,400 --> 00:18:09,400 Speaker 1: competition we've ever seen against the dollar, and the dollars 345 00:18:09,720 --> 00:18:11,680 Speaker 1: is the best currency on in the world. And I 346 00:18:11,720 --> 00:18:13,919 Speaker 1: don't think that, and I think that bitcoin has a 347 00:18:13,920 --> 00:18:16,720 Speaker 1: good chance as long as the technology continues to evolve. 348 00:18:17,080 --> 00:18:19,920 Speaker 1: But you know, that's my thesis and I can't recommend 349 00:18:19,920 --> 00:18:23,240 Speaker 1: it for everybody. Now you mentioned um you mentioned how 350 00:18:23,640 --> 00:18:25,920 Speaker 1: people are trying to foamoin at the bottom and they're 351 00:18:25,920 --> 00:18:28,560 Speaker 1: trying to capture that candle catching knives as we like 352 00:18:28,640 --> 00:18:32,760 Speaker 1: to say. Um, it's it seems like it's really hard 353 00:18:32,840 --> 00:18:35,200 Speaker 1: for people to be either a traitor or an investor 354 00:18:35,240 --> 00:18:38,239 Speaker 1: because it goes against our own human intentions, right, Like 355 00:18:38,320 --> 00:18:40,800 Speaker 1: we just wanna we we want to we want pleasure, 356 00:18:40,840 --> 00:18:43,600 Speaker 1: we want to get away from pain. Um. And I 357 00:18:43,640 --> 00:18:47,480 Speaker 1: know you've talked a lot about how actually technical analysis 358 00:18:47,720 --> 00:18:50,600 Speaker 1: actually plays along with that human emotion you think, right, 359 00:18:50,680 --> 00:18:56,399 Speaker 1: like the mathematical formulas somehow can predict that human emotion cycle. Yeah. 360 00:18:56,520 --> 00:19:01,639 Speaker 1: So Fibonacci is a perfect example. I've studying Fibonacci just 361 00:19:01,680 --> 00:19:05,600 Speaker 1: in nature, but also apply to the markets and and sentiment. 362 00:19:05,640 --> 00:19:09,080 Speaker 1: I created my own Fibonacci UH sequence. It's called the 363 00:19:09,119 --> 00:19:12,960 Speaker 1: Canfield Fibonacci sequence. It's a it's a a sequence of 364 00:19:13,359 --> 00:19:16,600 Speaker 1: numbers that apply to long term investing thesis. Um, you 365 00:19:16,640 --> 00:19:19,920 Speaker 1: can google that online. But Fibinaci is really really interesting 366 00:19:20,000 --> 00:19:23,520 Speaker 1: because those Fibonacci levels, the sixty one point eight percent ratio, 367 00:19:23,560 --> 00:19:26,120 Speaker 1: the seventy eight point six ratio. I believe that these 368 00:19:26,119 --> 00:19:29,800 Speaker 1: are measurements of human emotion. When something is in a rally, 369 00:19:29,880 --> 00:19:32,720 Speaker 1: it shows you exactly how euphoric people can be. And 370 00:19:32,760 --> 00:19:36,520 Speaker 1: it turns around as specific um Fibonacci extension levels because 371 00:19:36,520 --> 00:19:39,399 Speaker 1: it shows you how exuberant group of people can be 372 00:19:39,520 --> 00:19:42,879 Speaker 1: or cohort or population. And then the retracements are showing 373 00:19:43,000 --> 00:19:46,280 Speaker 1: exactly how fearful people can be, how how much are 374 00:19:46,280 --> 00:19:49,480 Speaker 1: people willing to sell down? In those ratios um I 375 00:19:49,520 --> 00:19:52,800 Speaker 1: think are a direct reflection of human emotion, and and 376 00:19:52,880 --> 00:19:58,439 Speaker 1: it quantifies human emotion, It quantifies reactionary uh, reactionary into 377 00:19:58,640 --> 00:20:01,919 Speaker 1: into markets. And obviously you can say it's you know, 378 00:20:02,000 --> 00:20:05,160 Speaker 1: self fulfilling prophecy. It could be algorithms that trade off 379 00:20:05,200 --> 00:20:07,840 Speaker 1: of those levels, um, you know, chicken or the egg 380 00:20:07,880 --> 00:20:10,480 Speaker 1: type of thing. Are we measuring human emotion? Are we 381 00:20:10,520 --> 00:20:15,119 Speaker 1: measuring uh, just quantifiable data that algorithms are using. You know, 382 00:20:16,000 --> 00:20:17,560 Speaker 1: you can it can go one way or the other, 383 00:20:17,640 --> 00:20:21,320 Speaker 1: but yeah, I believe that we have the human emotion piece, 384 00:20:21,600 --> 00:20:23,800 Speaker 1: which I like to say volatility price going up and 385 00:20:23,840 --> 00:20:27,359 Speaker 1: down is the difference between perception and reality. And so 386 00:20:27,720 --> 00:20:31,439 Speaker 1: we perceived something to be like when bitcoin h we 387 00:20:31,520 --> 00:20:34,280 Speaker 1: perceived it to be way further ahead, like it was 388 00:20:34,320 --> 00:20:36,280 Speaker 1: ready to take over the world. But the reality is 389 00:20:36,320 --> 00:20:38,360 Speaker 1: it wasn't, and so perception had to come down, price 390 00:20:38,400 --> 00:20:40,920 Speaker 1: had to come down. But then it overcorrected. So then 391 00:20:40,960 --> 00:20:45,760 Speaker 1: bitcoin made massive advancements in regulation and technology and adoption, 392 00:20:46,000 --> 00:20:49,200 Speaker 1: but then the perception obceived value was really low and 393 00:20:49,240 --> 00:20:51,960 Speaker 1: so it went too far and and and it keep 394 00:20:52,000 --> 00:20:55,280 Speaker 1: going back and forth. And I guess, uh what I 395 00:20:55,440 --> 00:20:57,600 Speaker 1: like to say about that is also what you're saying 396 00:20:57,640 --> 00:21:00,840 Speaker 1: with the Fibonacci's and so um, that's how it's reacting 397 00:21:00,880 --> 00:21:06,760 Speaker 1: between perception and reality. Yeah, uh more more based on 398 00:21:07,680 --> 00:21:13,119 Speaker 1: like fear and greed and you know, euphoria, Like I 399 00:21:13,119 --> 00:21:15,239 Speaker 1: would say, I would say fear and euphoria are kind 400 00:21:15,280 --> 00:21:17,960 Speaker 1: of the two emotions that are the you know, the 401 00:21:18,000 --> 00:21:22,160 Speaker 1: most applicable to trading and investing. When everyone is euphoric, 402 00:21:22,200 --> 00:21:24,000 Speaker 1: that's when I, you know, typically like to try and 403 00:21:24,040 --> 00:21:26,879 Speaker 1: find my exit points. And when everyone is depressed or 404 00:21:26,920 --> 00:21:29,359 Speaker 1: angry or fearful, that's the best time to buy. And 405 00:21:29,960 --> 00:21:31,840 Speaker 1: we hear and we hear that all the time, like 406 00:21:31,880 --> 00:21:34,320 Speaker 1: by when people are fear by, when people are fearful, 407 00:21:34,359 --> 00:21:36,399 Speaker 1: so when people are greedy. But it's really hard to 408 00:21:36,440 --> 00:21:38,440 Speaker 1: know that. But you're saying that you think you can 409 00:21:38,480 --> 00:21:41,840 Speaker 1: track that using these fub nacis right, absolutely, well, you 410 00:21:41,840 --> 00:21:44,159 Speaker 1: can also track it based on um. You can do 411 00:21:44,359 --> 00:21:47,680 Speaker 1: you can do a quant study based on emotion. Uh. 412 00:21:47,720 --> 00:21:49,480 Speaker 1: You can do a quant study based on you know, 413 00:21:49,560 --> 00:21:52,320 Speaker 1: like the in the fear and index greed um when 414 00:21:52,359 --> 00:21:55,040 Speaker 1: to buy based on specific numbers, and you can actually 415 00:21:55,040 --> 00:21:58,120 Speaker 1: do a calculation what if you bought, you know, when 416 00:21:58,160 --> 00:22:00,480 Speaker 1: the fear in index three greed hits ten and you 417 00:22:00,480 --> 00:22:03,040 Speaker 1: know what is the price of you know x uh, 418 00:22:03,080 --> 00:22:04,960 Speaker 1: you know what is the price of bitcoin five days after, 419 00:22:04,960 --> 00:22:07,200 Speaker 1: ten days after, twenty days after And you can actually 420 00:22:07,240 --> 00:22:10,679 Speaker 1: quantify that data and build a trading thesis around it 421 00:22:10,760 --> 00:22:13,719 Speaker 1: or a trading plan or an investing plan um, just 422 00:22:13,800 --> 00:22:16,760 Speaker 1: like you can do with the way that the markets 423 00:22:16,800 --> 00:22:20,720 Speaker 1: are move up and move down. Um. So that's you 424 00:22:20,760 --> 00:22:25,840 Speaker 1: can definitely apply emotion and sentiment to markets. The problem 425 00:22:26,000 --> 00:22:30,639 Speaker 1: is when you get into liquid markets, sometimes there is 426 00:22:30,680 --> 00:22:33,200 Speaker 1: no bottom. That's what's that's what we call price discovery. 427 00:22:33,240 --> 00:22:36,359 Speaker 1: The bottom can sometimes be zero um. And we saw 428 00:22:36,400 --> 00:22:38,000 Speaker 1: this in the in the dot com era, and we 429 00:22:38,040 --> 00:22:41,240 Speaker 1: saw this in the old coin market where yes, it's 430 00:22:41,240 --> 00:22:43,879 Speaker 1: good to buy blood, but it's good to buy blood 431 00:22:43,960 --> 00:22:46,640 Speaker 1: on something that has a fundamental basis, like you said, 432 00:22:46,680 --> 00:22:49,679 Speaker 1: cash flow, assets, et cetera, where you know, if it 433 00:22:49,720 --> 00:22:54,520 Speaker 1: goes down, you know that it has a fundamental thesis 434 00:22:54,600 --> 00:22:56,400 Speaker 1: behind it. And so that's something where you can try 435 00:22:56,400 --> 00:22:58,960 Speaker 1: and buy the blood or by the by the by 436 00:22:59,040 --> 00:23:01,640 Speaker 1: the try and buy the bottoms or cost average near 437 00:23:01,680 --> 00:23:04,560 Speaker 1: the bottom, whereas some things just don't have a bottom 438 00:23:04,680 --> 00:23:07,959 Speaker 1: because there's no fundamental uh thesis that holds them up. 439 00:23:07,960 --> 00:23:11,000 Speaker 1: There's no cash flow, the project is dead, the developers 440 00:23:11,000 --> 00:23:13,760 Speaker 1: have abandoned that, there's no there's no liquidity, it gets 441 00:23:13,760 --> 00:23:16,760 Speaker 1: delisted from exchanges. There's lots of fundamental reasons why you 442 00:23:16,800 --> 00:23:19,000 Speaker 1: should not trade. And that's the problem that I see 443 00:23:19,040 --> 00:23:21,560 Speaker 1: was a lot of traders that came from the markets 444 00:23:21,680 --> 00:23:23,600 Speaker 1: is they see these all coins that went up eight 445 00:23:23,640 --> 00:23:26,399 Speaker 1: nine hundred percent, and they're just trying to buy the 446 00:23:26,440 --> 00:23:28,920 Speaker 1: bottom of a market that might not have a bottom, 447 00:23:29,080 --> 00:23:31,560 Speaker 1: or the bottoms of zero or the or the bottoms 448 00:23:31,560 --> 00:23:32,840 Speaker 1: of a zero. We saw, we saw a lot of 449 00:23:32,840 --> 00:23:36,600 Speaker 1: coins on bit tricks that used to have incredible price 450 00:23:36,680 --> 00:23:39,520 Speaker 1: reactions when you got to those all time low levels. 451 00:23:39,520 --> 00:23:41,240 Speaker 1: But it broke the all time lows, and you know, 452 00:23:41,359 --> 00:23:43,119 Speaker 1: there was like six or seven projects that went to 453 00:23:43,560 --> 00:23:46,280 Speaker 1: one SETOCE that was the bottom one SETOCE and then 454 00:23:46,320 --> 00:23:49,119 Speaker 1: they got delisted. So now there's absolutely no liquidity. So 455 00:23:49,320 --> 00:23:51,320 Speaker 1: you have to be really careful about what you're investing, 456 00:23:51,359 --> 00:23:52,680 Speaker 1: and you met you want to make sure that there's 457 00:23:52,800 --> 00:23:55,040 Speaker 1: enough liquidity to actually trade it or invest in it, 458 00:23:55,119 --> 00:23:57,399 Speaker 1: because you want to be able to exit a position. 459 00:23:57,480 --> 00:23:59,240 Speaker 1: You don't want to be stuck in a position where 460 00:23:59,280 --> 00:24:01,720 Speaker 1: you can't exit it. I made the mistake of buying 461 00:24:01,760 --> 00:24:05,720 Speaker 1: into a like a privacy project on um what's what's 462 00:24:05,760 --> 00:24:10,160 Speaker 1: it called Cryptopia, and Cryptopia got hacked in their exchangement 463 00:24:10,160 --> 00:24:12,800 Speaker 1: down and that was the only place for liquidity. So 464 00:24:13,240 --> 00:24:15,800 Speaker 1: with that investment, I couldn't or you know, with that trade, 465 00:24:15,840 --> 00:24:19,520 Speaker 1: I couldn't exit my position. So that's why now I 466 00:24:19,560 --> 00:24:22,119 Speaker 1: look for things that have four or five, six, seven, 467 00:24:22,240 --> 00:24:25,840 Speaker 1: eight exchanges and then I hold my trader, I hold 468 00:24:25,840 --> 00:24:28,720 Speaker 1: my investment if it's a longer term play onto my 469 00:24:28,800 --> 00:24:31,399 Speaker 1: wallet where then I can create an account on one 470 00:24:31,440 --> 00:24:33,720 Speaker 1: of these six exchanges, and so I'm not dependent on 471 00:24:33,560 --> 00:24:35,679 Speaker 1: one of these areas. And so that's kind of how 472 00:24:35,680 --> 00:24:38,160 Speaker 1: it applies to crypto specifically. A is you really don't 473 00:24:38,160 --> 00:24:40,560 Speaker 1: want to keep all your eggs on in one basket, 474 00:24:40,560 --> 00:24:44,520 Speaker 1: whether that's an exchange UM or you know. Yeah, yeah, 475 00:24:44,600 --> 00:24:46,960 Speaker 1: Now back to the fear and greed and the five 476 00:24:46,960 --> 00:24:51,200 Speaker 1: and Nachi's and whatnot. UM, I tend to I tend 477 00:24:51,280 --> 00:24:53,040 Speaker 1: to agree with you on that, just because I've seen 478 00:24:53,040 --> 00:24:55,239 Speaker 1: it play out over and over. But what about like 479 00:24:55,320 --> 00:24:58,840 Speaker 1: bigger macroeconomic events. Like sometimes it's almost seemed like it's 480 00:24:58,880 --> 00:25:02,280 Speaker 1: lined up with bigger events that like would be outside 481 00:25:02,280 --> 00:25:04,919 Speaker 1: of youringreed almost black swan events, but like there's like 482 00:25:04,960 --> 00:25:09,480 Speaker 1: this like unique timing or or coincidence sometimes. Jesse Livermore 483 00:25:09,640 --> 00:25:13,000 Speaker 1: arguably one of the best traders who's ever lived. He 484 00:25:13,040 --> 00:25:16,000 Speaker 1: has an incredible book that he wrote back in the 485 00:25:16,080 --> 00:25:22,280 Speaker 1: nineteen thirties nineties. UM. He believes everything is priced into 486 00:25:22,280 --> 00:25:26,680 Speaker 1: the market, even black swans. Everything is priced in UH. 487 00:25:26,720 --> 00:25:29,800 Speaker 1: And it's even more so now in the information age, 488 00:25:29,800 --> 00:25:33,919 Speaker 1: where information is transmitted you know so quickly and spread 489 00:25:33,960 --> 00:25:37,199 Speaker 1: so fast virally through social networks. But I've seen it 490 00:25:37,400 --> 00:25:40,560 Speaker 1: time and time and time again. Where you know technical indicators, 491 00:25:40,600 --> 00:25:44,520 Speaker 1: it's showing, you know, a wedge pattern or a symmetrical triangle, 492 00:25:45,240 --> 00:25:48,440 Speaker 1: or it's showing like a massive barished divergence where it's 493 00:25:48,480 --> 00:25:52,600 Speaker 1: you know, everything's lining up, and then outcomes the news 494 00:25:52,640 --> 00:25:56,600 Speaker 1: story where it then creates this catalyst that plays out 495 00:25:56,640 --> 00:25:59,760 Speaker 1: perfectly with technical analysis, and you know you're in the 496 00:25:59,800 --> 00:26:02,000 Speaker 1: right side of the trade. The market tanks, you're you know, 497 00:26:02,080 --> 00:26:05,040 Speaker 1: you're shorting the market, and it's like, you know, you 498 00:26:05,080 --> 00:26:06,960 Speaker 1: see people going, man, Wow, how the hell did you 499 00:26:06,960 --> 00:26:09,800 Speaker 1: know that was gonna happen. It's like, well, the technical 500 00:26:09,880 --> 00:26:12,320 Speaker 1: analysis showed that this was, you know, this was the 501 00:26:12,359 --> 00:26:14,520 Speaker 1: outcome that we were going to see, and sometimes it 502 00:26:14,600 --> 00:26:16,119 Speaker 1: just takes the news story to kind of push it 503 00:26:16,160 --> 00:26:19,000 Speaker 1: that way. The other the other side of that, and 504 00:26:19,040 --> 00:26:21,800 Speaker 1: I've done a lot of backs back testing research. Some 505 00:26:21,800 --> 00:26:25,119 Speaker 1: people might remember, I had a CNBC chart showing the 506 00:26:25,119 --> 00:26:30,280 Speaker 1: profitability of counter trading uh CNBC's headline tweets basically like 507 00:26:30,359 --> 00:26:33,360 Speaker 1: every time they were super euphoric was at the very 508 00:26:33,560 --> 00:26:35,639 Speaker 1: top of a peak. If you had short at every 509 00:26:35,680 --> 00:26:37,640 Speaker 1: tweet where they had posted that, you would have made 510 00:26:37,640 --> 00:26:39,400 Speaker 1: an incredible amount of money. And if you had long 511 00:26:39,880 --> 00:26:42,600 Speaker 1: on every time they said bitcoin is dead, you would 512 00:26:42,600 --> 00:26:45,159 Speaker 1: have again made a lot of money. And so I 513 00:26:45,200 --> 00:26:47,960 Speaker 1: do see times where you see like on CNBC or 514 00:26:48,080 --> 00:26:52,760 Speaker 1: Fox or CNN on the market analysis, where for whatever reason, 515 00:26:52,840 --> 00:26:57,240 Speaker 1: they are putting out news stories that are completely contra 516 00:26:57,359 --> 00:27:00,959 Speaker 1: indicators to what what's going to happen in the markets. Uh, 517 00:27:01,000 --> 00:27:03,800 Speaker 1: they put out like superbarished news stories right at the 518 00:27:03,800 --> 00:27:06,640 Speaker 1: bottom of the market where it's like the technical indicators 519 00:27:06,640 --> 00:27:09,080 Speaker 1: are showing reversal. And it's for me, it's sometimes I 520 00:27:09,119 --> 00:27:11,920 Speaker 1: wonder if if big money, smart money is just trying 521 00:27:11,960 --> 00:27:14,399 Speaker 1: to you know, build their liquidity so they have you know, 522 00:27:14,480 --> 00:27:18,120 Speaker 1: they create panic, or maybe maybe it's not so sinister. 523 00:27:18,280 --> 00:27:21,840 Speaker 1: Maybe it's that they're chasing news headlines right there, trying 524 00:27:21,840 --> 00:27:24,440 Speaker 1: to get viewers, and so they're picking up the most 525 00:27:24,560 --> 00:27:27,840 Speaker 1: ufork story to run, so like it's it's an indicator 526 00:27:27,880 --> 00:27:31,080 Speaker 1: of where fear and greed is because everyone's so greedy 527 00:27:31,119 --> 00:27:33,320 Speaker 1: that's making news. So they're finally, hey, we should run this. 528 00:27:33,400 --> 00:27:37,240 Speaker 1: Everyone's greedy right now. Um, And maybe that's why it is. Yeah, 529 00:27:37,280 --> 00:27:38,760 Speaker 1: I guess, I guess my take is a little bit 530 00:27:38,800 --> 00:27:41,320 Speaker 1: more conspiratorial or cynical, and yours is just a little 531 00:27:41,320 --> 00:27:46,159 Speaker 1: bit more uh make more logical. I guess, Uh, yeah, 532 00:27:46,200 --> 00:27:50,480 Speaker 1: that's that's definitely possibly the case. I Mean I asked 533 00:27:50,640 --> 00:27:54,359 Speaker 1: CNBC themselves, like about it, and they say, well, you know, 534 00:27:54,440 --> 00:27:57,199 Speaker 1: we're just we just tweet what's in the market, you know. 535 00:27:57,440 --> 00:28:04,000 Speaker 1: But my my issue is these are trained analysts, trained investors. 536 00:28:04,040 --> 00:28:06,920 Speaker 1: You know. Jim Kramer, he ran a hedge fund. There's 537 00:28:06,960 --> 00:28:10,240 Speaker 1: a really famous YouTube video about him talking about how 538 00:28:10,280 --> 00:28:13,760 Speaker 1: he used news stories to build positions, either short liquidity 539 00:28:13,840 --> 00:28:16,119 Speaker 1: or long liquidity UM, and he said, you know, he 540 00:28:16,280 --> 00:28:19,080 Speaker 1: would just send out a little uh tip to UH 541 00:28:19,240 --> 00:28:22,240 Speaker 1: routers or Bloomberg or one of the analysts over there 542 00:28:22,280 --> 00:28:25,200 Speaker 1: about you know, a rating that's going to happen on 543 00:28:25,320 --> 00:28:26,960 Speaker 1: you know, one of the stocks or whatever. And so 544 00:28:27,600 --> 00:28:29,720 Speaker 1: for me, just the way understanding the way that the 545 00:28:29,720 --> 00:28:32,400 Speaker 1: markets work and understanding the way that these these fund 546 00:28:32,400 --> 00:28:35,320 Speaker 1: managers kind of build positions, and everything is about profit 547 00:28:35,400 --> 00:28:38,360 Speaker 1: to them. So uh, you know, the retail trader is 548 00:28:38,400 --> 00:28:41,280 Speaker 1: insignificant to what they're trying to achieve. Their their bottom 549 00:28:41,360 --> 00:28:44,080 Speaker 1: line is to their their investors and to their shareholders. 550 00:28:44,480 --> 00:28:47,600 Speaker 1: And so I would probably I I definitely look at 551 00:28:47,600 --> 00:28:51,360 Speaker 1: the market as more of a conspiratorial Yeah. I want 552 00:28:51,360 --> 00:28:53,480 Speaker 1: to go back to something that you mentioned before. Everything 553 00:28:53,560 --> 00:28:56,880 Speaker 1: is priced into the market. UM. I had ran a tweet, 554 00:28:57,000 --> 00:29:00,640 Speaker 1: uh maybe a week ago where I basically said, everyone's 555 00:29:00,640 --> 00:29:05,160 Speaker 1: talking about the Havning coming up. Uh, they're talking about 556 00:29:05,200 --> 00:29:08,240 Speaker 1: backed coming out, which they finally released, that they're coming 557 00:29:08,240 --> 00:29:11,520 Speaker 1: out in September, UM, and and everyone's talking about this 558 00:29:11,600 --> 00:29:14,000 Speaker 1: and and then there's like a lot of talk about 559 00:29:14,680 --> 00:29:18,600 Speaker 1: front running that price UM, which maybe doesn't mean the 560 00:29:18,600 --> 00:29:21,800 Speaker 1: price is already is the price is already in the market, 561 00:29:21,800 --> 00:29:23,760 Speaker 1: but that it's coming in. And I got into a 562 00:29:23,800 --> 00:29:27,760 Speaker 1: debate with a guy about the Havning, Uh, the research 563 00:29:27,800 --> 00:29:29,840 Speaker 1: that's been done by a Plan B a hundred trillion 564 00:29:29,960 --> 00:29:32,200 Speaker 1: about UM the price going up on the Havnening, which 565 00:29:32,200 --> 00:29:35,240 Speaker 1: is coming up next year. And so with with events 566 00:29:35,240 --> 00:29:37,760 Speaker 1: like back or with events like the happening, I mean, 567 00:29:37,800 --> 00:29:40,640 Speaker 1: don't you think like everyone is front running that so 568 00:29:40,680 --> 00:29:43,440 Speaker 1: at some point that prices, like almost every price is 569 00:29:43,440 --> 00:29:45,720 Speaker 1: already in the market. Basically what you said, the question 570 00:29:45,800 --> 00:29:48,600 Speaker 1: is who is everyone? Right? So Bitcoin, the market cap 571 00:29:48,680 --> 00:29:53,080 Speaker 1: is insignificant. Gold is fourteen trillion, uh bitcoin and the 572 00:29:53,160 --> 00:29:56,360 Speaker 1: entire cryptocurrency market market cap isn't even at a trillion 573 00:29:56,400 --> 00:29:59,880 Speaker 1: dollars yet. So it's it's so small that I don't 574 00:30:00,040 --> 00:30:03,120 Speaker 1: think that. I mean, we're a small population of people. 575 00:30:03,640 --> 00:30:06,360 Speaker 1: And so yeah, maybe people that are priced in right 576 00:30:06,400 --> 00:30:10,040 Speaker 1: now are front running it. The beautiful thing about trends 577 00:30:10,640 --> 00:30:14,800 Speaker 1: is short term trends are manipulatable. You can manipulate them. 578 00:30:14,880 --> 00:30:17,880 Speaker 1: Mid term trends somewhat manipulatable, and a market like crypto 579 00:30:18,040 --> 00:30:21,080 Speaker 1: for sure. But long term trends five years, ten years, 580 00:30:21,080 --> 00:30:24,160 Speaker 1: twenty years, thirty years, fifty years, those are not manipulatable. 581 00:30:24,160 --> 00:30:26,400 Speaker 1: It takes way too much money to manipulate a trend 582 00:30:26,440 --> 00:30:30,640 Speaker 1: that goes that long. And so the data is there 583 00:30:30,760 --> 00:30:34,760 Speaker 1: that shows exactly what has happened every prior time. And uh, 584 00:30:34,880 --> 00:30:37,120 Speaker 1: you're a fan of history, it doesn't you know, repeat, 585 00:30:37,160 --> 00:30:40,600 Speaker 1: but it often rhymes. And so all you can do 586 00:30:40,720 --> 00:30:43,920 Speaker 1: is really use that data to make your best educated 587 00:30:43,960 --> 00:30:45,560 Speaker 1: guess as to what's going to happen in the future. 588 00:30:45,680 --> 00:30:48,640 Speaker 1: Nobody has a crystal ball, no analyst um especial. I 589 00:30:48,680 --> 00:30:50,760 Speaker 1: mean you can you know that's true because two thousand eight, 590 00:30:50,920 --> 00:30:53,640 Speaker 1: very very few people there was a movie, The Big Short, 591 00:30:53,680 --> 00:30:56,960 Speaker 1: where only a handful of firms made billions of dollars 592 00:30:56,960 --> 00:30:59,720 Speaker 1: off that off that short um and everybody else was 593 00:30:59,760 --> 00:31:02,360 Speaker 1: caught blindside it. The same thing is true with bitcoin. 594 00:31:02,400 --> 00:31:04,480 Speaker 1: I think bitcoin is gonna blindside a lot of people. 595 00:31:04,480 --> 00:31:08,120 Speaker 1: I think that, uh, nobody really has any clue. And 596 00:31:08,200 --> 00:31:09,840 Speaker 1: I know that because I've been in the market for 597 00:31:09,880 --> 00:31:11,760 Speaker 1: three and a half years and I've kind of rubbed 598 00:31:11,760 --> 00:31:14,920 Speaker 1: shoulders with the top developers, the top traders, the top investors, 599 00:31:14,960 --> 00:31:17,840 Speaker 1: the top hedge fund managers that are in cryptocurrencies. Nobody 600 00:31:17,880 --> 00:31:21,400 Speaker 1: really has any any clue what bitcoin is capable of, 601 00:31:21,520 --> 00:31:25,760 Speaker 1: especially in a recession, especially uh, with all these trade talks, 602 00:31:25,840 --> 00:31:30,280 Speaker 1: especially with all this stuff. So I don't know that. Sure, 603 00:31:30,320 --> 00:31:32,840 Speaker 1: you can, you know, estimate what's going to happen with 604 00:31:33,000 --> 00:31:36,280 Speaker 1: the having, but bitcoin is a deflationary currency, and it's 605 00:31:36,760 --> 00:31:38,880 Speaker 1: and as you did a podcast with Mark Usko, it's 606 00:31:38,880 --> 00:31:44,400 Speaker 1: schmuck insurance against against a against the system. And we 607 00:31:44,520 --> 00:31:46,480 Speaker 1: just we were at twenty two trillion dollars in debt 608 00:31:46,560 --> 00:31:48,760 Speaker 1: or twenty four trillion whatever. I can't even remember the number. 609 00:31:48,760 --> 00:31:51,640 Speaker 1: It's going up so fast. We just don't know what 610 00:31:51,960 --> 00:31:54,840 Speaker 1: the potential of bitcoin is. And I think the most 611 00:31:54,880 --> 00:31:59,240 Speaker 1: important thing that I've learned is it's cheaper to own 612 00:31:59,280 --> 00:32:02,240 Speaker 1: it and not need it than it is to need 613 00:32:02,280 --> 00:32:05,360 Speaker 1: it and not own it. I think that that's you know, 614 00:32:05,440 --> 00:32:07,160 Speaker 1: that that's the kind of the way that I view 615 00:32:07,160 --> 00:32:10,920 Speaker 1: bitcoin is it is insurance because you just don't know 616 00:32:11,240 --> 00:32:13,560 Speaker 1: the potential or how valuable it's going to be until 617 00:32:14,040 --> 00:32:17,400 Speaker 1: you need it. Right. So, in Statoshi's a white paper 618 00:32:17,560 --> 00:32:20,520 Speaker 1: for bitcoin, the creator of bitcoin, he wrote a white 619 00:32:20,520 --> 00:32:24,120 Speaker 1: paper and in the white paper he said, Um, not exactly, 620 00:32:24,120 --> 00:32:26,840 Speaker 1: but he said, Uh, wouldn't it make sense to get 621 00:32:26,920 --> 00:32:32,400 Speaker 1: some just in case it catches on or something like that? Yeah? Exactly. Yeah, Yeah, 622 00:32:32,400 --> 00:32:34,800 Speaker 1: wouldn't it make sense just to get some just in case? 623 00:32:34,920 --> 00:32:36,760 Speaker 1: Is what he said. And that's kind of what you're 624 00:32:36,760 --> 00:32:40,560 Speaker 1: saying the insurance. I like that. Great. Well, I know 625 00:32:40,600 --> 00:32:45,120 Speaker 1: we're running along here. Let's just ask maybe one more question. So, uh, 626 00:32:45,280 --> 00:32:47,520 Speaker 1: for those people that are listening and you know, they're 627 00:32:47,560 --> 00:32:51,680 Speaker 1: not sure where they're at investing, trading, Like you said, 628 00:32:52,000 --> 00:32:53,760 Speaker 1: in trading, it can be very difficult. It takes a 629 00:32:53,760 --> 00:32:56,440 Speaker 1: lot of i q um. But for people who think 630 00:32:56,480 --> 00:32:58,920 Speaker 1: they would want to try and do better than just 631 00:32:59,160 --> 00:33:02,480 Speaker 1: buying and holding blindly, what would you recommend for them? 632 00:33:02,520 --> 00:33:04,760 Speaker 1: I mean, should they stay away from trying to buy 633 00:33:04,760 --> 00:33:06,600 Speaker 1: in and out at all? Or is there some really 634 00:33:06,640 --> 00:33:11,440 Speaker 1: basic stuff they could do or what would you recommend? Yeah? So, um, 635 00:33:11,560 --> 00:33:14,400 Speaker 1: first off, I would recommend at least trying to learn 636 00:33:14,440 --> 00:33:18,240 Speaker 1: technical analysis because it makes investing so much easier when 637 00:33:18,280 --> 00:33:20,200 Speaker 1: you can actually, you know, be able to look at 638 00:33:20,200 --> 00:33:23,120 Speaker 1: a chary understand where the trend lines are, where where 639 00:33:23,160 --> 00:33:27,760 Speaker 1: the support and resistance is um And for me, the 640 00:33:27,840 --> 00:33:33,960 Speaker 1: easiest and most brain dead strategy is by when it's 641 00:33:34,000 --> 00:33:37,400 Speaker 1: above the two day moving average and sell when we 642 00:33:37,440 --> 00:33:41,280 Speaker 1: break the two day moving average. That strategy is just 643 00:33:41,360 --> 00:33:44,239 Speaker 1: so simplistic and obviously you don't have to sell right 644 00:33:44,240 --> 00:33:47,360 Speaker 1: when across the tunter day moving average. It's a lagging indicator, 645 00:33:47,960 --> 00:33:52,280 Speaker 1: but it's such a simplistic way to uh, to be safe, 646 00:33:52,400 --> 00:33:54,320 Speaker 1: to be on the safer side, because when it breaks 647 00:33:54,320 --> 00:33:57,720 Speaker 1: that tuorter day moving average, typically the intermediate the mid 648 00:33:57,840 --> 00:34:00,520 Speaker 1: term trend is up and one as we break that 649 00:34:00,560 --> 00:34:04,000 Speaker 1: to a moving average, typically it has you know, six 650 00:34:04,200 --> 00:34:07,680 Speaker 1: especially bitcoin, uh, you know, six to eighteen months of 651 00:34:07,680 --> 00:34:10,799 Speaker 1: of a nice up trend, and it just keeps you out, 652 00:34:11,480 --> 00:34:16,080 Speaker 1: It keeps you out of trying to buy every single bottom, 653 00:34:16,160 --> 00:34:20,040 Speaker 1: trying to time. The other aspect is um as you know, 654 00:34:20,200 --> 00:34:23,799 Speaker 1: dollar cost averaging. But my my, my strategy is not 655 00:34:23,960 --> 00:34:27,640 Speaker 1: dollar cost averaging. At any point in time, I try 656 00:34:27,640 --> 00:34:31,640 Speaker 1: and dollar cost average as close as possible to the 657 00:34:31,760 --> 00:34:36,040 Speaker 1: two hundred weekly moving average, because that is a historically 658 00:34:36,080 --> 00:34:39,759 Speaker 1: a very very strong reversal point on in any market. UM. 659 00:34:40,000 --> 00:34:42,280 Speaker 1: And so when when you look at bitcoin, Bitcoin actually 660 00:34:42,320 --> 00:34:46,000 Speaker 1: bottomed out at the level on the two hundred weekly 661 00:34:46,040 --> 00:34:50,080 Speaker 1: moving average, and so did Amazon. Amazon pulled back hundred 662 00:34:50,120 --> 00:34:53,480 Speaker 1: weekly moving averages where it bounced, uh the SMP five hundred, 663 00:34:53,480 --> 00:34:55,719 Speaker 1: two hundred weekly moving average. And so if you can 664 00:34:55,800 --> 00:34:58,879 Speaker 1: dollar cost average as close to possible as that two 665 00:34:58,920 --> 00:35:01,879 Speaker 1: hundred weekly moving average, UM, I think that's where that's 666 00:35:01,920 --> 00:35:04,879 Speaker 1: where most of the money can be captured as close 667 00:35:04,880 --> 00:35:07,279 Speaker 1: to the bottom as possible. And uh, and when you 668 00:35:07,320 --> 00:35:11,000 Speaker 1: break that, you under weekly moving average to the downside, UM, 669 00:35:11,040 --> 00:35:14,800 Speaker 1: that's where it you may be entering a price discovery mode. 670 00:35:14,840 --> 00:35:17,719 Speaker 1: And I would, UM, I would wait until that's recaptured 671 00:35:17,719 --> 00:35:19,640 Speaker 1: before I would really start putting a lot more money 672 00:35:19,640 --> 00:35:24,520 Speaker 1: in UM. Personally, So to summarize that, you think the 673 00:35:24,560 --> 00:35:27,439 Speaker 1: average person could start by just learning one simple thing, 674 00:35:27,520 --> 00:35:30,360 Speaker 1: like a moving average strategy and maybe just try to 675 00:35:30,400 --> 00:35:34,000 Speaker 1: like get good at that before they overcomplicate things. I 676 00:35:34,040 --> 00:35:37,879 Speaker 1: think that so I've I've run the gamut right when 677 00:35:37,880 --> 00:35:40,800 Speaker 1: I started. I started in options and options is pretty complex. 678 00:35:40,840 --> 00:35:43,160 Speaker 1: You have to learn all these different strategies, the straddle, 679 00:35:43,200 --> 00:35:45,640 Speaker 1: the the iron condor. I mean, there's all kinds of 680 00:35:45,680 --> 00:35:48,600 Speaker 1: different names for him hedging, you know, buying longs and 681 00:35:48,600 --> 00:35:50,319 Speaker 1: puts at the same time, breaking, I mean, all kinds 682 00:35:50,320 --> 00:35:53,280 Speaker 1: of different stuff. Then I went into you know, price 683 00:35:53,320 --> 00:35:56,560 Speaker 1: action trading. Then I went into UH indicator analysis, and 684 00:35:56,600 --> 00:36:01,040 Speaker 1: then I went into geometric sacred geometry like again, analysis, 685 00:36:01,040 --> 00:36:03,880 Speaker 1: fractal analysis, fractal energy, I mean, all kinds of stuff. 686 00:36:04,280 --> 00:36:07,080 Speaker 1: And after all that, ten years of learning all these 687 00:36:07,080 --> 00:36:09,320 Speaker 1: crazy things and pain, probably a hundred thousand dollars to 688 00:36:09,480 --> 00:36:12,360 Speaker 1: mentors and courses and all, my strategy has really just 689 00:36:12,400 --> 00:36:15,440 Speaker 1: come down to really really simple things. Our side, moving averages, 690 00:36:15,480 --> 00:36:17,719 Speaker 1: support and resistance. I mean that's basically all I use 691 00:36:17,800 --> 00:36:20,480 Speaker 1: for almost everything. And then I've just built a strategy 692 00:36:20,480 --> 00:36:22,120 Speaker 1: in a system around it that gives me a better 693 00:36:22,200 --> 00:36:25,680 Speaker 1: edge than So. Yeah, so after going through all that stuff, 694 00:36:26,000 --> 00:36:29,439 Speaker 1: really and what I would really say is find one 695 00:36:29,480 --> 00:36:33,359 Speaker 1: thing and master it. Whether it's our side, whether it's 696 00:36:33,400 --> 00:36:36,040 Speaker 1: moving averages. Find a guy who wrote a book on 697 00:36:36,080 --> 00:36:38,400 Speaker 1: moving averages. Find a guy who's made you know, millions 698 00:36:38,400 --> 00:36:41,840 Speaker 1: of dollars on just moving averages and study it. What 699 00:36:41,960 --> 00:36:44,800 Speaker 1: most people do is a hop from system to system 700 00:36:44,840 --> 00:36:48,800 Speaker 1: to system to system, and they never really take enough 701 00:36:48,840 --> 00:36:52,440 Speaker 1: time to master that one thing, um, you know. And 702 00:36:52,719 --> 00:36:55,520 Speaker 1: that's what I would say, is just focus on one indicator. 703 00:36:55,640 --> 00:36:58,680 Speaker 1: One makes me think that Bruce Lee quote right, like 704 00:36:59,320 --> 00:37:01,240 Speaker 1: a fear of the man, and who's practiced one minute 705 00:37:01,280 --> 00:37:03,920 Speaker 1: one kick ten thousand times, not ten thousand kicks one 706 00:37:03,920 --> 00:37:06,400 Speaker 1: time or something like that exactly. And that's that's the 707 00:37:06,440 --> 00:37:08,319 Speaker 1: problem that I see with most traders. They literally just 708 00:37:08,360 --> 00:37:10,759 Speaker 1: hop system to system to system the system and they 709 00:37:10,800 --> 00:37:14,919 Speaker 1: never they never master any one thing. But I think 710 00:37:14,920 --> 00:37:17,080 Speaker 1: the biggest thing is, you know, they have to all 711 00:37:17,120 --> 00:37:19,240 Speaker 1: these different systems because they're trying to find a system 712 00:37:19,320 --> 00:37:21,640 Speaker 1: that fits for them. And that's like I said, skill level, 713 00:37:21,680 --> 00:37:24,480 Speaker 1: time commitment. Um. You know, most traders they come in 714 00:37:24,560 --> 00:37:27,040 Speaker 1: and they only have an hour a day. You know, 715 00:37:27,080 --> 00:37:29,279 Speaker 1: they're part time, they're working and there you know, and 716 00:37:29,320 --> 00:37:31,279 Speaker 1: maybe some some people that are listening, you know, they're 717 00:37:31,280 --> 00:37:34,440 Speaker 1: they're they're at you know, they have job, they have families. 718 00:37:34,640 --> 00:37:36,880 Speaker 1: They can't stay in front of a trading terminal twelve 719 00:37:36,920 --> 00:37:39,160 Speaker 1: to eighteen hours a day like I can. Um. And 720 00:37:39,320 --> 00:37:43,359 Speaker 1: I think that's a big part of of finding those systems. Great. Yeah, 721 00:37:43,560 --> 00:37:45,920 Speaker 1: that's uh, that's that's good advice right there. Just look 722 00:37:45,960 --> 00:37:48,600 Speaker 1: at the moving average. Learn one thing. I know you've 723 00:37:48,680 --> 00:37:50,120 Speaker 1: you like you said, you've kind of boiled it down 724 00:37:50,160 --> 00:37:51,759 Speaker 1: to three or four things that you're good at. Now, 725 00:37:52,000 --> 00:37:54,040 Speaker 1: well ahead and wrap this up now. I know you 726 00:37:54,560 --> 00:37:57,160 Speaker 1: just put out something on trading View that rapidly rose 727 00:37:57,160 --> 00:37:59,000 Speaker 1: to the ranks number one on Trading View and it 728 00:37:59,120 --> 00:38:02,080 Speaker 1: kind of actually shows when to buy and sell using 729 00:38:02,360 --> 00:38:05,560 Speaker 1: just maybe two strategies. So recommend people to go check 730 00:38:05,600 --> 00:38:07,359 Speaker 1: that out on Trading View. I think you also have 731 00:38:07,480 --> 00:38:09,960 Speaker 1: like a real kind of like introductory course on t 732 00:38:10,160 --> 00:38:11,840 Speaker 1: A that people can jump in. Do you want to 733 00:38:11,880 --> 00:38:15,160 Speaker 1: talk about where people can find out more about you? Yeah? 734 00:38:15,200 --> 00:38:17,600 Speaker 1: I reallysed this course. It's called the twenty one Day 735 00:38:17,600 --> 00:38:20,279 Speaker 1: Crypto Trader Challenge, And what it is is it's a 736 00:38:20,680 --> 00:38:23,799 Speaker 1: it's twenty one days of of study to learn how 737 00:38:23,840 --> 00:38:26,000 Speaker 1: to trade cryptocurrencies. And what it was is it's not 738 00:38:26,080 --> 00:38:29,240 Speaker 1: designed to create to make you into this advanced trader. 739 00:38:29,280 --> 00:38:32,120 Speaker 1: It's it's really designed to just create a foundation of knowledge. 740 00:38:32,480 --> 00:38:34,120 Speaker 1: And so the biggest thing that I see is most 741 00:38:34,120 --> 00:38:37,560 Speaker 1: people they jump into trying to learn technical analysis. And 742 00:38:37,640 --> 00:38:40,440 Speaker 1: technical analysis is one part of about eight parts of 743 00:38:40,560 --> 00:38:43,200 Speaker 1: a good trader. UH. The other parts that I think 744 00:38:43,239 --> 00:38:49,320 Speaker 1: are even more important are UH psychology, discipline, risk management. 745 00:38:49,400 --> 00:38:51,719 Speaker 1: Risk management is very key. There's an entire module on 746 00:38:51,840 --> 00:38:54,279 Speaker 1: risk management. When it comes down to UH, you know, 747 00:38:54,520 --> 00:38:59,480 Speaker 1: basically win loss ratio, your position sizing, UM, all those 748 00:38:59,480 --> 00:39:02,799 Speaker 1: different things, and then tracking your trades. And so what 749 00:39:02,840 --> 00:39:04,880 Speaker 1: I did was I put this twenty one day Crypto 750 00:39:04,880 --> 00:39:07,360 Speaker 1: Trader Challenge, and I priced it very very affordably. I 751 00:39:07,400 --> 00:39:10,319 Speaker 1: wanted everybody to be able to UH to join, and 752 00:39:10,360 --> 00:39:12,680 Speaker 1: it's only a hundred bucks. And what it does, it 753 00:39:12,680 --> 00:39:14,680 Speaker 1: just gives you everything you need to know about how 754 00:39:14,719 --> 00:39:16,920 Speaker 1: to you know, how to basically build a foundation of 755 00:39:16,920 --> 00:39:18,360 Speaker 1: knowledge for trading. And then what you can do is 756 00:39:18,400 --> 00:39:20,759 Speaker 1: you can take all that information and then start to 757 00:39:20,880 --> 00:39:24,600 Speaker 1: learn the more advanced strategies like actual how to build 758 00:39:24,600 --> 00:39:27,120 Speaker 1: out a trading plan. But you at least you're introduced 759 00:39:27,160 --> 00:39:30,799 Speaker 1: to all these concepts and you can master the foundation 760 00:39:30,920 --> 00:39:33,080 Speaker 1: or the you know, the building blocks, and then you 761 00:39:33,080 --> 00:39:35,520 Speaker 1: can go out and become really really good traders. So yeah, 762 00:39:35,560 --> 00:39:39,280 Speaker 1: Crypto Trading Challenge dot com we do one once about 763 00:39:39,280 --> 00:39:41,720 Speaker 1: every three months. We take on a bunch of traders. 764 00:39:41,960 --> 00:39:43,239 Speaker 1: They go through the course and then we do a 765 00:39:43,280 --> 00:39:47,120 Speaker 1: live Q and a session afterwards. Cool and trading View 766 00:39:47,200 --> 00:39:50,160 Speaker 1: is just Jacob Canfield. I think trading View dot com 767 00:39:50,360 --> 00:39:54,840 Speaker 1: slash you slash Jacob Canfield, um, and then yeah Twitter 768 00:39:55,080 --> 00:39:58,760 Speaker 1: Jacob Canfield. Cool. All right, thanks so much, Jacob, appreciate 769 00:39:58,760 --> 00:40:02,680 Speaker 1: you coming on. It's great talking to you. Thanks guys. Hey, 770 00:40:02,760 --> 00:40:05,680 Speaker 1: if you like this episode of The Market Disruptors Podcast, 771 00:40:05,840 --> 00:40:08,239 Speaker 1: please help us take this to the top of the 772 00:40:08,280 --> 00:40:11,160 Speaker 1: podcast charts. Just please do me a favor and rate, 773 00:40:11,239 --> 00:40:14,560 Speaker 1: review and subscribe. Taking fifteen seconds to just leave a 774 00:40:14,640 --> 00:40:17,160 Speaker 1: quick review goes a long way and helping us reach 775 00:40:17,200 --> 00:40:20,360 Speaker 1: more people and disrupt more markets. I really appreciate you 776 00:40:20,400 --> 00:40:22,560 Speaker 1: listening and I'll see you next time on The Market 777 00:40:22,560 --> 00:40:23,560 Speaker 1: Distructors Podcast.