$7500 To $50k (Part 15)- 6 Months Into The Goal (Transcript)

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[00:00] Welcome to bit better have my money. I am Mitchell Stulken and I am sunburns. Oh Man. I don’t know if you can. If you’re on the podcast, you definitely can’t see it, but oh

[00:16] my shoulders, arms had to fix some fence this weekend and we were by water and the man, the sun came right off the water. My neck is bad. I’m a face not so bad, but neck and shoulders just killing me, killing me. Forgot how hard it can be to be a rancher. I’m not a rancher. I just pretend every once in a while. But uh, so I actually was thinking this weekend while I was burning in the sun. It’s been six months now since I started with my goal. It was pretty much December, 25th I believe day after Christmas where I decided to take 7,500 and with a goal of making 50,000 off of that 7,500 and it’s been just over six months. So I thought I do kind of a check in A. I know I update every once in a while, but I’m going to focus on how, how things have been going overall, my overall feeling of it. Check it some of my coins. So I’m looking on the delta windows app right now and what’s really nice about that is it tells you how much your, you know, right now it’s the case of how much I’m down before it wasn’t like that, you know, a few months ago, but right now it’ll show you the day how much you’re down for the day. But I’m actually looking at the all time right now and right now, all times since I started this trading portfolio, I’m down zero point one, eight,

[01:53] eight bitcoin. So what is that? If we go over here and put it in on the bitcoin calculator, zero point one, eight, eight bit coin is $1,200. So right now I am down $1,257 and forty five cents. Now you might be thinking I’m could be super disappointed in that. Or you’re like, Oh man, he’s done 1200 bucks, almost 1300 bucks. Me, on the other hand, I am

[02:24] actually happy about that. Not that I’m down, but I was up to $15,500. Uh, right now it is at a cash wise. I’m at $3,200 so you know, that’s a long fall but I’m not really focused on cash wise. That’s not really my main goal. My main goal is to accumulate bitcoin. That is what my goal is and I was doing a fantastic job granted when kind of started here in December, January, even into February, you know, it was a bull market. I did keep up trading into like February, March, kind of tapered off a little bit and the market kept going down so my, my trades have have tailed off, but I was still able while the cash, the cash games weren’t as good. The bitcoin gains were still decent and that is my goal. I want to gain more bitcoin because that I think is going to be where the most profit can be made.

[03:30] I don’t really pay too much attention to USD, but for a lot of people it’s easier to talk to you about USD price. It’s obviously easier to understand. So being down $1,200 in six months, you know, granted I was up to 15, five a, which was awesome. That was pretty good. The market market’s just kind of slowly, slowly bled away. So with bitcoin going down in price, you’re obviously going to use lose cash value. So that’s why I kind of don’t pay attention to it, but over the six months and the market going down so drastically, maybe only being down point, oh, one bitcoin is not that bad considering there’s coins that are, have lost 50 percent of their value. Uh, I even have some that have lost 50 percent roughly. Uh, so overall I’m not actually down to bad, uh, over overall, I think it’s roughly between south around 30 percent or higher that it seems to be down with the but with the market the way it is that, that isn’t too terrible.

[04:45] So as far as losing money, uh, and how much I’m being down, I’m not looking at the cash value. Like I said, I’m just looking at bitcoin and I’m not down to bad in bitcoin. When bitcoin comes back up and price my value in USD is going to go up, so I have no doubts that the value is going to go up. So that’s why I’m really, really focused on, on bitcoin right now. Uh, as far as how far the market has fallen since then, you know, it went, what are we at, where are the total current market cap of 275 billion, if I remember correctly. I think that was up to like $350 billion. It was a lot and we have lost a lot of the market cap, so everything is down pretty much overall. That’s just the way the market is right now. It will come back. Looking at some of the coins here that you know, a more positive on. I’m actually, most of them I trade with. I try to be really, really confident in. I mean, that’s the best way to do, to do it. Uh, the couple that I am not right now. Or Can Kenya coin kind of picked that up on a recommendation? Um, GCR coin, that one wasn’t doing too bad until it got delisted from bittrex. So that makes me a little bit nervous. Cya Coin.

[06:25] It is what it is, but those are the only ones I’m really not too heavily like super excited about the rest of them in my training portfolio. I don’t doubt that they’re going to, they’re going to bounce up. And the market overall today is down. I’m looking at my coins and the 24 hour trend, everything is down a 20 roughly around 20 percent, but bitcoin itself is also down 11 percent today. So that’s a, that’s a big fall. Um, you know, I was up at 4,000 on my trading portfolio to what, Friday now it’s down to 3,200. So it’s been a rough day as of today, but my feelings overall about how things are going when I started, obviously it was kind of in a bull run and if I would’ve gotten into, started this idea a little bit earlier, I have no doubt that I would have been.

[07:25] I mean I went up to 15, five. I was doing a lot of trading and doing a lot of moving around. I was watching things very closely. I got up to 15, five fairly quickly, uh, people who are following along with me. I had really didn’t see any. I didn’t see any trouble. Fifty, 50 k didn’t seem out of range at all. Honestly. Twenty five. I thought I was going to hit in the next few weeks. But then the market kind of started to slide. Things tapered off, slowed down. The profits were still, they’re just not as big. You actually had to work a little bit harder, which is fine. That’s just how things go. So still able to do a lot of things lately. The market has kind of taken a turn still, you know, it’s trading more sideways now. It’s not, well did fall quite a bit today, but lately it’s been going sideways, so it’s kind of a wait and see approach.

[08:20] Um, it feels a lot like when I first started with trading and buying into all coins and things, when it first started it was a dip. So most of the things I bought I bought on a downward trend and I watched and watched and they were falling, you know, 10, 20 percent. I had one that was down I think 60 percent and I was sitting there thinking, Geez, what am I doing? This is nuts. There’s no way this is going to work. And. But that was just when I started, I didn’t know I wasn’t used to the volatility and then all of a sudden things are at least a couple of my coins. Iota for example, all of a sudden went on a huge run on a $50 investment. It was more like $70 investment. I think I made 300 and some dollars on a $70 investment. Um, I think I bought it.

[09:16] It might’ve been even more than that. It’s been a while ago. I bought in at like forty cents and it ran all the way up to $5 I believe when I sold. So that was my first hint that, okay, well this is just how this market is and that’s what it feels like a lot right now. You’re looking at it. If you’re buying in now things are just continually falling and you may be thinking like, Oh man, this is just not going to work. It is, it is going to work. It’s just this time of market. As for getting to 50,000 right now, I have no doubts I will get there. It’s just gonna take me longer than I thought. Um, when I write about the 50 k thing, I do parts like 7,500 to 50 k, part one, part two, I think this will be part 15.

[10:05] And someone was making fun of me and they’re like, wow, you’re going to be like part 300 and you’re just gonna lose all your money. No, I won’t lose all my money there. That’s just not gonna happen. But I don’t think it’ll take the 300 to get to 50 k. I honestly kind of figured it would be around maybe a year, eight months to a year and it would be up there, but I also didn’t think this downward slide would last as long as it has. So I don’t know how long it’s gonna take me now. I kind of quit thinking about that, but I do know I’m going to make it and it’s going to be an interesting, interesting journey along the process. It’s not going to be this quick skyward shot that it Kinda was in the beginning, but it’s gonna be interesting. It’s gonna be fun.

[10:57] I have no doubt I will get there. I’m, I’m kinda thinking about doing things a little bit differently as far as trading, following some different rules possibly, which I will tell you about. I just haven’t, I haven’t really submitted them in. Um, I know this has taught me a lot about what to do and what not to do. So hopefully you guys follow along with this. I think it’s going to be a really, really good learning experience for me. Both good and bad. They’re going to be bad moves I’ve made that I make and they’ll be amazing moves that I make and hopefully you guys can learn from that as well. But overall I am not sad or disappointed or worried. I am just real. What’s the word? Resigned or I’m still positive. I love this cryptocurrency. I love it. I love doing this. I have no doubt that it’s going to take off again, but you just got to be practical.

[12:00] Um, I am not looking for huge gains. I’m not going to be sitting here thinking like, Oh, if I buy into this I’m going to get 5,000 percent return that a lot of people come into this thinking I’m being more practical I guess I should say. And I still do think getting to 75 from 7,550 k is definitely a practical and realistic goal. So hopefully you guys can find something. Even if you. The 7,500 I started with is actually prophets I’ve made before. So if that tells you something, I’m still doing well overall, people still make fun of me seeing that it’s down to 3,200, but whatever. Uh, if I listen to everybody, I wouldn’t even be making a podcast. So continue following along. I just wanted to kind of give you an update. A I’m not bummed about where I’m sitting. I’m actually pretty happy with where I’m at.

[12:57] Could it be better? Yes. But it could be a lot worse. I really haven’t lost that much bitcoin. My investments are still solid and I believe in them so I have no doubt that they’ll come back, come back. Um, so I think I’m sitting in good place and a lot of people are sitting in the same place that I’m at. You know, you bought into something and it just went down. Unless you’re going to sell at a loss, you’re just going to hold onto that and that is what I’m doing right now. I’m going to hold onto them and wait. And when it starts coming back here, I’m going to figure it out and set some, some rules for when and how to take profit and that’s kind kind of where things are sitting right now. With that, I hope you guys had a good weekend on a different note.

[13:51] My parents and I was at my parents helping them this weekend. We started the show on netflix called evil genius whole man. I would. We got through two episodes, but man, the first, the first episode, something happens that I had never seen before and I was shocked, shocked. It was messed up. Anyway, I’ll keep it spoiler free. I’m going to probably finish it tonight or tomorrow. It’s only four episodes, so I only were like 45 minutes, so I’ll probably finish tonight. With that, would you kindly hit the subscribe button? Continue to follow along. I like updating the 7,500 to 50 k because gets a lot of response. Some people think I’m an idiot, whatever. I will be laughing in the end and some people really enjoy it. I hope. I hope you guys enjoy it. I like doing it. It’s somewhat nerve wracking sometimes showing exactly what I am doing, but I think that’s the best way to learn, not only for me but for you as well.

[14:58] And if I do make mistakes, whatever, I’m not really worried about it. It happens, you know, people give me crap, but if I see if I do something stupid, which probably will happen and you guys can learn from it. There we go. So when, when, because I’m going to learn from my mistake. I’ve already made some, but with that I’m going to go nurse my son sunburned skin now and I hope you guys have a good rest of the evening. Be sure to hit that subscribe button. And with that I will talk to you later.

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