Hubert Senters here.
Got a question I believe from Jim. Let me go grab really quick. So let’s see what Jim’s got to say here.
Hi Hubert, I love your teaching and videos. Thanks Jim, appreciate it.
How would you go about going from a small account of ($3,800) to a large account.
After that I would like
consistent income per month not to become rich fast but to support my family 4 to 5 thousand per month eventually.
Thanks very much for all your help. P.s if there is anything I can join to be with you on a low cost let me know. Jim.
So Jim, I’m going to make assumptions here that i got to pick whatever market. Now, there’s two different ways to approach this.
I’m just going to round it up to $4000 because it’s easier for my head to do Math. What you have to do is you have to figure out how important that $4000 is worth it to you. It’s worth obviously $4000.
But here’s what I’m thinking in these mades. If you would have put $100 in Bitcoin 10 years ago. I think its $5 million. Let me check my Math.
So I had to check my Math. So I had to check my Math a couple of times and check all the sources so if you’ve invested $100 in Bitcoin 10 years ago you basically had a thousand Bitcoins which would now be worth $48 million.
Heads up, you’re just selling and now it’s going to be about 40 percent of it that’s still pretty good to leak.
I’m going to assume that you don’t want to put it in Bitcoin but you might want to put it in Bitcoin or Ether because Etherium they both will probably go up over time.
But that’s a big risk. So the second best bet if you’re really tight to that $4000 first you have to figure out what’s your risk reward ratio.
Are you willing to do that like go all in on a cryptocurrency and just pray that it moons and keeps on continuing and it goes higher?
If you’re okay with that it’s not a bad strategy. And then if you’re not going to go faster you have to figure out like how many increments are you going to be willing to lose that $4000.
Let me show you what I mean. So in this slide what we’re taking a look at is a risk reward ratio on a trade that risk about a $150 in order to make a thousand.
If you’re right one 1 out of 10 times you’re going to lose $1,400. And this was considering we’re going a sample size of 10 trades. Obviously, you’re going to do more trades in this I would hope.
Now, if your string of trades if you were only right 2 times out of 10 and you’re risking a $156 you would make $755.
If you’re right 3 times out of 10 times and you’re risking $150 to make a thousand each time you would turn that into $1,909.
Now, this is on top of the $4000 that you already have. If you’re right 4 times out of 10 which is only 40 percent you would take basically your $3800 and you would almost double it not quite but close with $3000.
So that depends on are we going we’re going to risk it all? Are we going all in on cryptocurrencies? Are we going to do something that’s a little easier and steady and consistent and cool common collected like the bond market.
So really you have to figure out like which way you’re willing to potentially burn this cash. In other words, risk it to see if you can potentially make more.
Both are valid strategies and I have done both and I like both. It all just depends on which way you’re willing to slice and dice that $4000 up. Or are you going all in to cryptocurrency and praying to God that it continues to go higher.
I’ve been asked to speak at the Wealth 365 online trading summit. I’m going to show How to Find New Trend Trades in Two Simple Steps.
Heads up, this is like 27 days to get you over there. You should register right now because these things fill up.
There’s always so many room in Zoom rooms and GotoWebinar’s at some point they load up and stop working and you’re no longer allowed to come in. This is how the stuff works like you can’t have unlimited people on these bad boys. I wish you could but you can’t.
I’m going to HYPERLINK you to the registration page.
Good luck. Hope it helps. See you on the next video.
Hubert.
