Here I am extremely excited about because somebody has just asked me you know and we teach both of these which one should we start with you know which one do we start with stocks first versus cryptocurrency well my background is stocks that’s really what I’ve been trading for over 20 years it’s my bread and butter you know, and this is where we’re making our money and then stocks vs cryptocurrency came along you know about four years ago.
Where we really started focusing on it and we started making more money in cryptos than we did in stocks. Why though because of the mass of volatility compared to the relatively small volatility in stock and this is what’s so interesting people say the stock market you know really listen. Why don’t you spend a day looking at this and then you’ll think this is nothing this is nothing, but you know you’ve got to start somewhere so I say to people well. You know you know what’s your risk tolerance. What would you know are you okay to take on a little bit of risk because even when you put money in the bank you are taking a little bit of risk the bank could go you know could go bankrupt you know so? There’s always when you’re investing.
There’s always a risk but the point is it’s this is more volatile. So, therefore, that doesn’t make it riskier but your reaction to that volatility makes it riskier let me give you an example. Let’s say you’re in a trading crypto and stocks and it shoots up and you’re supposed to let it run that’s one of the two golden rules is your profits run as long as possible but you’re like my it’s you know it’s gone up seven percent in an hour. I don’t know what to do and you kind of you panic and you take your profit now you bank seven percent. It was the wrong thing to do because the strategy says let your profits run what you should have done is taken a stop loss and put it boom right underneath it and then if it would have carried on going up you can follow it up and you could have made another seven eight nine ten percent.
It would have gone down, and you would have gotten your seven percent and that is that is risky because you need those winners to really go up, I mean we have to people who made 68 on one trade just one trade you know actually that was on stocks a lot more on cryptos one of my positions is up over 3,000 right now and this isn’t back in 2017. Where and I show people my account all the time on the webinars and there was 14 000 on my neo position so you can see the difference between volatility between cryptos and stocks let me give you another example.
