Crypto Investing #125 – How To Ask The Right Questions To Improve Your Trading Skills – By Tai Zen



what's up guys my name is Tyson welcome to cryptocurrency market this is a trading investing entrepreneurship channel our goal here is to make life-changing profits our goal here is not to be a political channel or be politicians or a bunch of techies okay our goal is learning that kind of stuff and make money that can give a positive change to our families okay in this video guys I want to share with you guys some of the mistakes I made on learning how to trade and I want to share with you guys how to go about asking the right questions when you are learning to improve your trading skills okay when I first started okay many of you guys already know that I came from Vietnam as a Vietnamese refugee worked in the fruit and vegetable field when I was in elementary school in America and then Islay worked in the sweatshops you know in my middle school years and I worked in the fishing boat docks in my high school years grew up in a ghetto-ass black neighborhood ended up selling drugs you know and ended up in prison for nearly fourteen years and came out and had to rebuild my life in my mid-thirties okay and I was able to learn how to trade and then retire early and now I want to share with you guys some of the things that the mistakes that I made along the way and why it took me so long to learn how to become a consistently profitable trader okay the questions that that I asked we're wrong whenever I met a trader okay in a separate video I will make a video on how to determine if someone is a real trader or not okay and then in but in this video I just want to focus on asking the right questions okay because if you don't ask the right questions it will take you a really long time to learn how to become a consistently profitable trader okay it's very important that when you ask a question in trading or investing that the question requires a numbered answer you want to do that as much as possible there's a small minority of time or a small percentage of time where the answer will not be a numbered answer but the majority of the time especially when you are a beginner it's extremely important that you ask questions that require a numbered answer and I will give you examples of all the wrong questions a lot of the wrong questions I ask and then I'm gonna share with you guys the right questions to ask now that I know how to trade right and be consistently profitable I want to share with you guys the right questions that I should have been asking in the past okay and I want to also make a note guys that it's easy to be a profitable trader okay anybody can go out there and learn how to trade and be a profitable trader what's hard is to become a consistently profitable trader that's the key guys there's a lot of people that make money on this trade or that trade or this trade of that trade but over a large sample size of like 300 trades 500 trades a thousand trades it's very hard to find somebody that can be consistently profitable over a large number of trades or over a long period of years okay so here's an example of the wrong questions I used to ask okay what stocks should I trade what Forex currencies should I trade what options contracts should I buy or sell right all these questions are all the wrong questions to ask and let me tell you why okay because those questions require an opinion from another human being from another trader so when if I ask you if you ask me right like hey ty what stock should I buy okay it's very easy for me to answer that yeah you should buy Apple stock so you should buy Microsoft stock so you should buy tesla stocks okay very very simple but that's an opinion that's that has nothing to do with trading has nothing to do with investing so I'm wasting my time asking you something of your valuable time for something that cannot really help me make a buy sell or hold decision okay every question that we ask they're in trading has to help us make the right decisions to buy sell or hold it's one of those three actions because those are the only three actions that we can take in the markets that we have control of we cannot control it the market goes up we cannot control it it goes down we cannot control the market go sideways but we can control when we click the mouse and hit the Buy button or the sell button or just don't do anything and just hold and wait on the sidelines okay so if I ask you know if you guys ask me hey what Forex pair should I buy or what cryptocurrency should I buy those are all the wrong questions to ask the reason why is because I cannot it does not require me to give you a numbered answer okay so if you ask me hey ty well what's the secret to trading and I say the secret to trading is managing your risk the words managing your risk is very vague like when you hear that whatever well what am I supposed to do like I have $100 am I supposed to put $100 into that stock into that Forex in pair into gold into silver into Bitcoin into 18 what should I do with that hundred thousand dollars and and and what does managing your risk or controlling your risk or reducing your risk what does all that mean that means absolutely nothing it means garbage it means okay what the answers that you look for have to have a numbered answer when you ask question trading the reason why is because when someone gives you a numbered answer it forces if you ask a question that requires a numbered answer then now you can take that answer and make a buy sell or hold decision on it okay so if you ask me instead of asking me hey ty how do you manage risk right the question should be hey I have ten thousand dollars here how much of that money should I put into crypto how much of that money should I put it two two two two stocks or bonds or Forex so that if I'm wrong I don't lose everything okay then that's gonna prompt me to answer you guys hey if you're a beginner do not risk more than a quarter of one percent so if you have a hundred thousand dollars right one percent is $1,000 that would be $250 so don't risk more than $250 on a single trade because even if you're wrong which you will be the majority of the time when you make a trade the majority of time you're wrong you never write the majority of time you only write the minority of the time okay especially when you are a trend trader expect to be right about a third of the time the other 2/3 of the time you're gonna be wrong and you're gonna lose money on it so the question should be hey if I'm a trend trader right how much of my portfolio should I risk on a single trade and then now I can then I have okay he's a trend trader I know that a 1/4 of 1% is very very safe because based on my experience of working with many many students in the stock market the futures market in the forex market I have not seen someone go broke right I've not seen someone go broke as long as they are a beginner and they risk a very small portion of their portfolio on that trade or on that stock on that cryptocurrency pair that they thought might potentially go in their favor okay so that you ask a numbered question and it requires a number answer and it will dramatically guys dramatically increase your ability to become a better trader and a better investor let me give you another example okay should I trade stocks futures Forex options or crypto currencies okay see that number really does not that that question does not require me to give you a numbered answer okay I can just say yeah you should trade stocks or you should trade Forex okay or you should trade cryptocurrencies that that really is vague those are very very vague and very harmful and very dangerous questions to ask because they do not get allow you to make the right decisions on to buy sell or hold now here's a better way to ask that question hey ty I have never traded stocks before I've never traded or invested in any financial markets before and I just saved up a thousand dollars right which market what is the best market for me to invest that money into right based on a zero experience in a thousand dollars okay so now I am required to give an answer right that require a number so based on zero experience and based on $1,000 startup right the ideal places would be here if I was starting with that much money right and zero experience I would start in the cryptocurrency market okay and the reason why is because the barrier to entry is very little if you want to be successful in stocks right the minimum is at least 2,500 for a decent broker okay that's not to be affected just just so you can get access to a decent broker requires about twenty five hundred US dollars okay and in order to be a a day trader where you can buy and sell as many times as you want in a single day you need a minimum of the law requires a minimum of twenty five thousand but the reality is you need about thirty thousand US dollars so if you only have a thousand dollars the best place to start that with it's in the crypto market well why not in the forex market time you can start with a much smaller account in the forex market the answer is yes that's true but it's not effective it's more you get more bang for the buck and you can learn faster easier and much lower risk by doing it in the cryptocurrency market see so if you ask the right questions it forces the other trader or the investor that that you're talking to to give back a numbered answer and that helps you a lot more right then then then then just asking random opinion questions hey ty do you think the markets gonna go up hey ty do you think the market is gonna go down hey ty do you think that the bear market is gonna last another year all that is irrelevant to trading guys all that is irrelevant to trading and I'm gonna say it again I'm going to say until the day I go to the grave okay the two skills that you need to make you a consistently profitable trader is one knowing how to control your bet size and number two is knowing how to increase and decrease your bet size when that trade goes in your favor okay if you want to learn more about that you need to go to www.qcnet.com our cryptocurrency investing blueprint we talked about it in depth in there in the different scenarios in which those cases happen okay else outside of knowing how to control your bed size and knowing when and how to increase and decrease your bed size all that other stuff is just fluff the bulk of what makes you a consistently profitable trader is knowing how to control your bed size okay on each stock on each Forex pair on each cryptocurrency and knowing when to increase and decrease that bed size at the appropriate times okay all the other stuff that you guys hear people talk about is just bunch of fluff okay they make a very very little difference and makes very little impact in you becoming a consistently profitable trader so go get the copy of the cryptocurrency investing blueprint and check it out and stop trying to figure that stuff out on your own okay the other thing to guys is that on top of asking the numbered questions okay it's also important when you ask the questions that you ask it based on your skill level and your experience level so for example if you ask hey ty you know what Kryptos do you have in your portfolio right now that is the absolute wrong question and incorrect question and very damaging question to ask okay because where I'm at right now I'm managing a big portfolio so the things that I put my money into and the way that I manage it is completely different in how I would instruct someone that is complete beginner new to cryptocurrency is not a consistently profitable trader yet they aren't and there's managing a much smaller portfolio they have to do different things to protect that risk right I'm at a point where in America they would call it fat and happy so because of that I can afford to take less risk okay if someone is a beginner and they're a doctor they're an engineer they're professional and they make an a good income and they have five ten twenty thirty fifty thousand dollars on the side and they want to risk that in the cryptocurrency market my what I would do is I would take as much risk as I could that still protects my money I would take all the risks I could because the more risks that I take the more we potential reward I have and if I am a professional I'm single and have no wife no kids I can afford to take that risk because if something happens right you know for one if I do correctly I'm not gonna lose everything and the risk that I take right is worth it because the rewards could let me retire much earlier okay so the question the correct question to ask is hey ty based on my profession okay I'm an XYZ profession and I I have this much that I can put into the markets right where what would you do what Kryptos would you put in your portfolio if you were in this position and you had this much to put into crypto okay then that requires me to give you an answer in which I what I would do knowing in the experience that I have and know what I know today what I would do if I was in that same scenario okay but if you asked me hey ty which in your portfolio now or hey Leon phu kham what's in your portfolio right now it's not that's not a good question that asked simply because what we are doing now is much more conservative than what we did five six years ago when we first started because we've gotten our portfolios to a point where it's more important for us to protect what we have than it is to grow it even more if we just protect what we have and not lose it and not get hacked okay just just sitting there waiting for the market to go back up we will make a ton of money already okay so we don't need to do any fancy footwork however when you are a beginner and you have very little to work with then it's worth it you need to take that risk like we did okay so make sure I want to summarize this video is that two things right is ask a numbered question and ask the numbered question based on your current experience level and your portfolio size so that whoever answers you understands it okay now be careful about that too don't just randomly go out there to people and say hey man I got a million dollars and you know I'm a beginner what should I do with it because more than likely somebody will try to rip you up or try to scam you or try to steal your money somehow or another okay so be very careful about that and make sure that you ask a reputable source and reputable people on what to do okay so don't just randomly just go out there and some random knucklehead on the streets you know that's selling ramen noodles on the street corner or something or selling egg rolls on the street corner and ask him how to manage your portfolio make sure you ask it to qualify people okay so thanks for watching this video guys I hope that by sharing the mistakes that in answering the wrong types of questions to become a successful trader that now that you know go out there ask the right questions so that it can help you become a successful trader much quicker okay so thanks for watching this video guys if you like this type of videos and you will learn how to become a consistently profitable trader in a serious trader go check out our cryptocurrency investing blueprint at www.bluepmedia.com and in this video I got lots of bright light here guys my eyes are squinting like a real Asian okay it's squinty enough already but I'm swinging like I feel like I'm squinting like a real Asian now okay but I am looking at cross the landscape of Bangkok here guys on top of Bangkok I am grateful guys that I had an opportunity to come to the US when I was younger learn how to trade learn the financial system in America learn how to have a mentally tough mindset learn how to have the entrepreneur the American entrepreneur mindset and become successful today and retire early guys if you guys are living in America there's absolutely no excuses guys there's absolutely no freaking excuses okay America is a great country if you are there take advantage of the system learn what you need to learn and to become successful and take care of your family and retire early guys alright thanks for watching this video and don't forget to follow me on Twitter at hey tides in and many of you guys are watching this video but I'm not sure why you guys are not subscribed to our channel if you guys like our videos like a content make sure you pound that subscribe button and I'll see you guys in the next video

7 thoughts on “Crypto Investing #125 – How To Ask The Right Questions To Improve Your Trading Skills – By Tai Zen”

  1. ZelCash is a really good project. With a great team. They also have a multi asset wallet one of the best I have used. Its called ZelCore. They are releasing nodes at the end of the month. Also they will be releasing a DeX and dApps later this year. I love ZelCash ๐Ÿ˜๐Ÿ˜๐Ÿ˜๐Ÿ˜๐Ÿ˜๐Ÿ˜๐Ÿ˜๐Ÿ˜

  2. What a great video about your story and where you are today. It is cool to discover to ask the right question with a specific number in mind!

  3. Thanks for the video, Tai. I have a 'Number' question for you. Just based of your experience as a trader.

    Suppose we have a 2-year long bear market worldwide in all markets. Then what is an estimate ROI-per-month that a profitable fulltime trader can get starting with 10k budget ? (for each market: stock, forex, crypto etc… while following proper trading principles; like correct size and risk management )

  4. This is pure gold. Also love the video on when to buy crypto during a bear market. Can you do a video covering the other end of that? eg. When do you take profits during a bull market?

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