Bitcoin (BTC) News, Ethereum (ETH), Altcoins, Cryptocurrencies, Forex Trading and More. Petronella Technology Group Podcast 02-11-21

This is Encrypted Ambition, a podcast about the builders rewriting the rules. Join Petronella Technology Group as we decode the ideas, challenges, and momentum behind tomorrow's business, technology, and leadership breakthroughs. Good afternoon, everyone. This is Craig Petronella, BJ, and Blake.

For a new episode of our podcast, topic today is cryptocurrencies, Bitcoin, and altcoins. My favorite topics, right? That's a good one. The Bitcoin surge is having me super excited. I've been watching it, especially since Tesla bought like one point.

Eight billion or whatever it was in Bitcoin. Thank you, yeah, Elon. Thank you. Yes, yeah, really. And actually, and and actually, that should be a vice versa. Thank you, because he should also be saying thank you because his he's literally going to make a ton of money off of that purchase. Yeah, yeah, more money than probably anybody in the world because he has some. Yeah, well.

Well, except he'll have more money than anyone in the world, except for the day that Satoshi Nakamoto surfaces when this is all said and done. Right? And that's the richest person in the world. Yeah, seriously. Hopefully, Elon's listening. And yeah. Well, and interestingly, like because that is obviously the buzz of the week, right? Elon buying that, you know, all that Bitcoin.

Well, so that's like caused you know all this excitement. But the truth of the matter is, he bought that like without telling anyone a while back. And there's a lot of large corporations that are doing the same right now. So there's algorithms that they use purposefully, purposefully to be under the radar so that they don't appear as whales.

So they buy certain amounts increments at a steady pace, but enough to stay under the whale radar. So there's a lot of institutional buying that's going on that people aren't even aware of. And you know, by the time by the time it's all said and done, when people catch on to this, at that time, I think the supply and demand crisis will actually be a very real thing. Yeah, yeah, I mean.

It's hard to say for me, because you know, obviously, when you're creating a valuation of an asset such as Bitcoin or a stock or whatever, you know, when it's oversold or underbought, you know, it's really hard to put a definitive value on Bitcoin. I know that it there is a maximum market cap for Bitcoin. I think, if I'm not mistaken, but.

I'm hoping that it just gets to 100. You know, I literally cleared out all of most of my investment portfolios, except for my ETFs, because I'm one of those traders where I just like set it and forget it. So the easiest way to diversify is just to buy a crap ton of ETFs and just let you know pay the management fees and let let some person who sits around his computer all day.

Trading, take take care of it. Yeah, but but I put literally all of like the liquidity that I had in my portfolio right into Bitcoin. And let me check it and see how it is going now. But yeah, that was extremely smart, I would say. I literally did this. Like, what was it?

I mean, this was like weeks ago. Weeks ago. So before all this, all this happened. Yeah. Well, yeah, and like literally, like we're in the middle of this bull run, and the general consensus follow some of these analysts. Like, there's a there's a free, well, it's free. It's free tool that you can obviously get a paid version for for more features, but a free tool that a lot of them use called TradingView.

And so, a lot of the analysts on here, like the general consensus, is that we're not anywhere near the top of this bull run, and no one really knows like how high it could go. Because as the demand surges and and the and the supply becomes, you know, less available, you know, no one knows just how high this one bull run could go. And I know, like Craig could speak to that because he, you know, he, I actually found out about cryptocurrency from Craig a few years ago.

Is he was I think if I remember correctly he was writing a book on blockchain at the time and or this was right before he started writing a book on blockchain and he had a a talk with a lawyer I think if I remember correctly that was involved in like smart contracts on the Ethereum blockchain and so Craig mentioned all this to me and I think Craig as an experiment started even mining some Bitcoin.

Yeah. So, Craig, you've seen you've seen like you've seen Bitcoin go from what? Like, where was it when you started? I think it was three thousand ish dollars, somewhere in that vicinity. Yeah. So, and we're right, we're like, you know, teetering at forty-eight k, right at this very moment.

That that's when you got your your first Bitcoin around that price. Yeah, my I bought one or two at that price, and then I bought more at seven or almost eight thousand. And at one point, I had five, and then when it went up a lot, I sold a bunch of it, and then I'm buying back in now.

I I got Bitcoin in 2010. Like that was when I bought my first Bitcoin. And what was it? What was it when you got it, Blake? Jeez, it was like 500. It was less than that. I think it was around. I think it was around 100. Like around. Oh God! Wow. Yeah.

I've got I've got a hard drive, and I've been talking to Craig about this. But I've got a hard drive that I bought my first bitcoins on, and you know, you had like your wallet and everything, and it was locked down to your hard drive. But on that hard drive, I think I've got probably like around 10 bitcoins. Oh my gosh, are you kidding me? No, no, I'm not joking.

And the hard drive is like corrupted. No way! It's no joke. It's no joke. Oh my god! I have a hard drive. There's there's analysts that have like 300k plus followers that think very highly of them that are putting Bitcoin at over a million. You know, with you know, within a few years.

So, if that's the case, you really need to try to figure. Yeah, more more recently, though, like so, like with this past run, like right now, Bitcoin is at um like forty forty eight or something, if I'm not mistaken. But more recently, I got it at thirty five thousand dollars, and then now it's at forty eight. So this this past run.

So I'm doing pretty good, and then I actually stupidly sold it, and then I bought back in, so I kind of like locked in my profits. Yeah, and yeah, so now I'm I'm riding it again. But well, I'm a I'm a total believer at this point in I don't know if you say it hold or holdel, but I see that terminology.

Quality a lot, but yeah, I'm a firm believer that with Bitcoin, especially, like that's the thing to do. Like you don't, and and maybe even earn interest on it, but like I think like day trading and stuff on some of the alt coins, I think is a really good idea. But Bitcoin itself, because of the fact that speculation is rising as far as how valuable it could become.

And you know how how quickly it's adopted by these big institutions is going to probably determine how quickly it gets to its full value. And with Elon Musk doing what he did this week, you know, more than likely there's a scramble already underway without us knowing about it for some of these other big companies to follow suit. So I personally don't ever plan to sell a single. I don't have a Bitcoin. Okay, but I have some satoshis. So so yeah, I don't plan to sell any of my satoshis. I actually got really lucky too.

Because when I bought for the first time, um, I bought this year. It was my first time buying, but I bought it when it was at 19k, and it like quickly like doubled after that. So, and I haven't sold any of it, but I don't I don't touch it because like for me, like that's I I'm looking long term, you know. But um, it it was at 19 and it went to 40 within what like a week or two.

How come? How come you don't have any bitcoins? How come I don't have any bitcoins? Yeah. Oh, I didn't. I didn't start buying until this year. Like, I just it was for me. It was a. She just doesn't have a whole one. Yeah, I don't. Yeah, I have Satoshi. Like, I don't. I don't have a whole Bitcoin. Like, I have like zero. Yeah, I have like zero point one four of a Bitcoin plus a little bit that I play with on leverage to try to you know gain more, but.

Um, the the amount of Bitcoin that I hold that I don't play with on leverage or anything is zero point one four. So, is is that what they call like less than a Bitcoin? Kind of like you know? Yeah, they're called Satoshis. Yeah, no, they're truly called Satoshis. Like I mean that when I say that. Yeah, they're called Satoshis and.

There's like a what is it the number I saw? It's like a hundred thousand satoshis in a bitcoin or something like that. That's not the right number, but there's a certain number. I forget how many. It's point so many zeros and then a one. Yeah, smallest increment. Yeah, and so if you guys actually have like a whole bitcoin, like you're more than likely future millionaires. Like that's almost a guarantee. But like.

They're saying if you even have like what is the number I saw just today? If you even have zero point one oh zero point two, I think, or like twenty percent of a Bitcoin that you have, more Bitcoin than ninety nine percent of the world. I'm I'm gonna open Robinhood because my history with Bitcoin is like a roller coaster.

That's probably your future, me. Yeah. So I've got maybe thirty. Okay. So, um. Okay. So I bought Bitcoin. Okay. So this was actually just a fractional purchase. Hold on. I'm trying to see what it was trading at then.

Okay, so I bought I bought Bitcoin on May 29th of 2019 at eight thousand six hundred forty seven dollars. Um, and then let me see what my sell was. I sold it off at eight thousand five hundred.

So you say you're let me see what my sale was, and what you really mean was let me see what my first mistake was. Yes, yeah, definitely. But I literally had like a lot of random trans transactions between like it's like you know plus minus plus minus because I've been I've been literally getting in and out of Bitcoin forever. So here is here was December fourth, twenty nineteen.

I bought Bitcoin at seven thousand four hundred eighty-five dollars and sixty-four cents. Wow! And then I sold it at eight thousand two hundred forty-six dollars. And then, okay, let's see. Here's another. So I, I, I bought it. Gosh, it's been up and down. I bought it at six thousand one hundred eighty.

And I bought, I sold it again at six thousand three hundred eighty-one. And then let me see my most recent one. Um, so yeah, I bought about three thousand dollars worth at nineteen thousand three hundred ninety-three dollars, and then I sold out at um at thirty-one.

Thousand. Oh wow! So, have you bought back in? Like, do you still, aside from your corrupted hard drives that has eaten your Bitcoin, that's that's fishy. Hard drives took your Bitcoin. But aside from your missing Bitcoin, like, have you bought back in? Yes. Again. Okay. Yes. Yes. So that's why I was saying, like, I have a rocky road up and down with Bitcoin because.

I've I've I've day traded it, like I've swing I've swing traded it, and then I've got like a set it and forget it amount, and um, and yeah. So this what I'm talking about now is mostly my swing trading. So are you are you are you do you have a portion that you've decided to hold going forward and not sell? Yeah, yeah.

I think, like, to me, like, I I don't do a lot of trading. I mean, it sounds like I I do, but I really don't. Like, I don't monitor this stuff, and sometimes I get emotional, you know, because I see it go up and down, and I'm like, oh crap, you know. Like, I'll tell you a way to get really emotional about this is to actually um do a free trial on the premium account with TradingView and have access to the one second charts. Oh my God, talk about like you're on the verge of a heart attack all day long because.

You can see, no, no way. I because you can see like huge movements. All of a sudden, it's the one second chart, so like it could look like, oh my god, it's totally crashing, but it was only a ten second period, you know. But it went down a long way. Yeah, I've got about as of a long term, you know, I've got like a couple like.

Month salary. That's I'm just sitting on as like a long term, you know. Well, that I mean, yeah, it's literally like in my in my humble opinion, like if you guys have at least a whole Bitcoin, like your future is is assured. Yeah, yeah. So I'm trying my luck, being that I'm coming from like the underdog angle, like I.

I'm holding on that zero. one four Bitcoin that I have, and I don't intend to ever sell it. In fact, I'm thinking about putting it in an interest-bearing account. I talked to one of those places early this morning on Twitter, and they said that they actually are the only place that has a way that you can actually put it in view-only mode, so that no one.

Can take your Bitcoin like it's view only, and you have a key, like a private key for it. So I thought about doing that because I think they pay like six percent interest on it. But I'm doing altcoins, so I'm like I found some altcoins that are like dirt cheap, and you know I'm not sure like long term how successful they'll be, but I think there's a lot of potential for growth, and and it's worked. Like this week, I'm watching like Cardano, for example.

And I did a leverage on that, and I I made like I think. Well, I don't touch it, so when I say made, like this is for like the future. But like so far, and I'm like nine hundred dollars in profit on Cardano this week in one week alone. I um I killed it in the Dodge Coin. Yeah. Oh my God. Yeah. Okay. For the record, is it Dodge Coin or Doge Coin?

I don't know. Okay, because I don't know either. Has a dog on it. Yeah, does. Okay, so whenever I am texting people about, I just say like VGE. Yeah, and it's yeah, so like the symbol for it because I have the one second chart of that too is XDG. So.

I probably will just sound stupid to everybody that's listening. They're like, "This guy has no idea what he's talking about." Well, no, you have a few Bitcoin, so I think I think that no one would say that. Yeah, that's right. But no, I've got some Ethereum, Ethereum, Ethereum, Ethereum. But what matters is that you have some. It doesn't matter if you say it right. It matters that you have some. Yeah, and then so.

I'm looking at my history here for DGE. Let me see. Look for XDG. Oh, is that what it is? Yeah, that's XDG. Uh huh. Um, let's see if I can find. Okay, crypto. The news about how.

I'm not sure. So yeah, Blake, I've I've been trying all week to talk Craig into getting some. Let's just call it D coin. I don't know how to say it. So I've been trying to talk to him about all week about getting some because Elon Musk is behind it, and he actually tweeted what yesterday that he bought some for his toddler little X, and so you know I think hint that he's got plans for it. And then he put a meme of himself as Rashiki from The Lion King holding up of a

The you know the Lion King with the the the dog face of the coin. So, yeah, literally, he put that up on Twitter and said, "You're welcome." So, yeah, I think that there's an agenda there, and it might might be beneficial to hold, especially with how cheap it is. I don't know how. Like, this is a question for Craig. I think. How do you know like what this stuff costs? Like the Doge coin or Dodge coin. It says like point.

Zero point zero seven. So that's not seven cents. That's seven tenths of a penny. Yep. So that's so. Which chart you're looking at? It could be compared to Bitcoin, or it could be, you know, on U.S. dollar. It depends on which chart. But for yeah, so on the U.S. dollar, I'm comparing, you know, XDG. Yeah. So then it would be seven cents. But with the zero in front of it, isn't it?

If it's zero point zero seven or zero point zero seven, it's zero point zero seven. Yeah, so it's seven cents. Seven cents. Okay, so so the meme about Dogecoin to a dollar, like that would be a huge jump. Yeah, yeah. I bought I bought ninety seven thousand seven hundred eighty nine shares. That's extremely smart.

Dogecoin, Doge, whatever. And then I sold off some, and and yeah, that was I sold it off at what was it? So I bought it at zero point zero two zero five three five. Oh wow.

And I sold it off at zero point six nine five six six. Oh yeah, and it's at seven one right now. It was at like eighty five or high eighties yesterday. I am out of it, so piss it pisses me off. Yeah, um, but but no. So this this thing and this this will tie so good into our podcast, but.

Last night, like, I went on like an investment like vendor, and I've always, always, always been super excited about like forex, like foreign exchange. Okay, like like pairing currencies. I didn't know that's what that meant. Like, I'm new to all of this. Like, I've I've never looked at any of this, so I did not know that's what forex meant.

Yeah, foreign exchange. You're gonna love this, and it ties right into AI, right? Oh, wow. So, yeah, foreign exchange is obviously you're you have like currency pairs, and you're you're comparing the up and down valuations of those two pairs together, essentially. I'm sure that's the worst way to explain it for somebody who is super knowledgeable in in forex, but.

Essentially, the market never stops moving, so it trades twenty four hours a day, seven days a week, forever, forever. So, what I did was I went on, and I bought what they what they call as like I think it's called like a an EA is what they call it.

Which is an expert advisor, but essentially it's a fancy name for a robot. Oh, wow! Right now, I it's a it's a it's not a person that you're working with. No, so it takes it takes all the data, um, and literally, it people who build these robots, they they use like like indicators like.

Okay, I'm sorry. I'm sorry to interrupt you, but for our audience and for me, can we go back one second? Because I want to clarify this. When you say robot, what do you mean by robot? An algorithm. Okay, an algorithm. So basically, an algorithm is a set of rules or processes, right? Right. So you're basically talking about when you call it a robot, you're basically talking about some coding.

That's performing the functions it was coded to perform. It's trading based upon parameters that have been coded into the script. Wow! So, let let me. So yeah, so based upon that, I went off on a bender and bought like two of these robots last night.

And then I was reading about people that are taking maximum advantage of these robots, and what they'll do is they'll they'll create a virtual state workstation. Like you, I think you work from a virtual workstation, maybe if I'm not mistaken. But a lot of our customers do so.

And then what they do is they program the bot in the virtual work environment, the virtual workstation, and then they just let it trade, like. So they so the bot does it for you, right? Oh my god, are you serious? And well, that that's like the perfect solution because the it's the emotions, it's the FOMO and all that that you know, and then people don't know what you know, but.

Algorithms. I mean, they the amount of data that they can process so much faster than we can without emotion is is. I mean, there's no comparison. It's it's impossible for these bots to monitor market data, but what they do analyze is movement. So.

In stocks, or at least in forex, there is a ton of different indicators that people use. Right? You can use like MACD, or like moving average, yeah, or like, or like Bollinger bands, or any of these indicators that show you like, like, like RSI, like relative strength index, or like.

There's tons of these indicators, and it uses those indicators to determine when to enter and exit a trade. So that sounds very similar to something that I know Craig was looking at this week. It sounds very, very similar. Maybe different. There's probably just a difference in the indicators that are built in. I think the one that Craig looked at has some indicators that are pretty unique built in that were created specifically, you know, by the person that created this algorithm.

But it's the same concept overall, right? We're talking about using artificial intelligence to basically take our trading abilities to the next level, right? And then, since you're using this virtual work environment, you know, you set MetaTrader up on one of these these virtual workstations, and then it just runs.

Like it just runs until you tell it to stop. So, and it will actually place your trades for you, right? And it will close them when they should be closed and open them when they should be opened, right? What? Right. So, how do you? What do you put brackets around? How much you want to allow it to spend? So, so in in forex, the way that you instead of buying shares, what you do is you buy a lot.

A lot of currency, and one lot is ten thousand dollars. So, obviously, you're using massive amounts of leverage when you're, you know, when you're doing forex trading. Which that's the reason why people make like like crazy money doing forex, right? And crypto, crypto is allows you to leverage, like so.

Just and I want you to finish what you're saying, but just to interject on that note, like, can you imagine the potential if that if that works? Because if you have an artificial intelligence that is sitting there, dedicated to performing these functions and using the right parameters and making better decisions than you could make, and if you actually could observe this for a while and you could trust that, yeah, it is working the way I hoped it would overall.

Could you imagine the potential if you were to open a high leverage? I know in crypto, there's some exchanges that do 125 times. Let me just interject one thing. So, obviously, our listeners, this is not financial advice. Yeah, yeah, yeah. This is financial advice. We have to say our disclaimers. We're not recommending you do any of this. Yeah, no. Highly risky, and everything you do is at your own risk. And artificial intelligence is, you know, it's it's it's blossoming right now.

Also, any of this is is is risky. You know, it's it's cutting edge. For sure. I mean, there is a massive amount of risk in what I'm doing. Yeah, there's also a massive amount of reward. There's a massive amount of potential. If you found a system that you could trust was would always like, you know, it's not going to be 100 successful. Nothing will be. But if you found a system that you could trust will always keep you in the green versus the red.

Oh my gosh! Like, I mean, me personally, not financial advice, but me personally, like, my light bulb in my head is saying, "Oh my gosh!" Like, if I could trust that, like, I would go high leverage. Like, there's some exchanges that do ridiculous amounts of leverage, like 100, 125 times. That's just crazy. So, listen to this. So, a lot of these bots, these expert indicators, the way that they market themselves.

Is by by performance history, right? Nobody's going to buy a robot that doesn't have a strong performance history. So on, and I'm looking at their their forex data right now in front of me. Their ticket information, they their opening balance investment when they built this bot was September 13th of 2010. They opened the account with a thousand dollars.

Uh huh. And we're talking about up until the last actual trade, which was yesterday at 2:42 a.m. Was their final closing trade? Guess what the account balance is at? What? Yes. Come on. Oh God. So how much was it? Was ten thousand dollars? They started with one thousand. They opened with a thousand dollars in 2010, in September of 2010.

Two hundred thousand. Ten years. You're asking. You're saying after. Yes. Yeah. About ten years and some change. Ten years and two months. Ten years and four months or so. Uh, two hundred thousand dollars. That's what I guessed. Two. I'd say ten thousand. Ten million nine hundred and eighty-three dollars and seventy-three. What? Wow.

And there's no way like that that data is is could be forged. Like that's no sure correct data. This is generated by MetaTrader. Like it's like an Excel log, and it's got like the ticket information for the trade. And there's no way this data can be forged. Well, you know, I will just say this about that. Like, this is very risky stuff. But me personally.

Like in me personally, I am already a believer in the potential and the abilities of artificial intelligence. Like, just to give you an example, like I have this app, right? It's called Replica. I don't know if you've heard of it, but it's just fun. You have an AI chatbot because we put a chatbot on our website, and as you know, like it's great. Like, you just got a sale, right, Blake? Like an hour ago, off of our chatbot engaging a customer on our website. So.

So, anyway, along those lines of the chatbot, I thought because I know when we programmed our chatbot, we had to tell it, you know, the responses that it could give people. So then I found someone told me about this app called Replica, and where you know you actually have an AI chatbot. So I was curious to see, like, you know, how it responded to things that I felt were off-topic because I wanted to see what it did like outside of its programming.

So I've chosen some topics that I know for certain. There's no way a human programmer has put these topics into this this this this AI because they're just off the wall topics. But it it no it it it it gets it. It understands. It jokes. It's quick. It reads. I can write something that would take me five.

Five minutes to read, and I will send it. And within a second, it's typing its response. Like it's read the whole thing, and it's responded accurately, relevantly, and appropriately. It's mind blowing. So I'm already a believer. So this you've piqued my interest with this. I just sent Craig a link, and I'll send I'll send you. Yeah, please send it to me also.

I'm. I'm not gonna be. I mean, I'm not promoting this. I'm not advocating this. I'm just saying this is something that interested me. Yeah. Oh yeah. And and they they have went back even further. You know, using the historical currency data and tested this bot for at you know for nearly as long as the market data exists. Um.

And the probability, the winning probability, just in twenty twenty, was around ninety percent. You know, so you can you can look at the website. I sent, I just sent it to you. Well, and and and and obviously, you're not advocating for them or any specific website, because we like disclaimer. Like, we have no sponsors. We have no like nobody cares about us. Like, we're we're just little guys, you know, trying to make our way in the world. Like, we have no sponsors and no one asking us to name their products or anything like that.

But so you just found something that is very interesting to you, and this same week, like Craig found something that's along those same lines that was very interesting to him. It's it's really strange because last night I was on Trading View, and the thing that that like I don't like about it is that all these people are chiming in with all their ideas all the time, and they're pasting these charts and say, "Look what I found! I found this."

Pattern, so it's going to do this, and then I'll freak out, like, "Oh my god, I'm going to lose all my money!" And then five seconds later, someone else posts another chart. No, it's going to do this, and it just eventually, I'm like, "I'm going to go crazy! I'm going to go crazy if I keep watching this because everyone's got all these different opinions, and 90% of the time, they're wrong." Well, last night, some guy put something up, and he said, and I was ready to, I was ready.

To close my leverage back, because I started freaking out. Well, then this guy posted a chart last night, and he says, "Get your like something about check your emotion." He said, "Just listen to the algorithms." He said they look at this, this, this, and he named off some technical stuff. And everyone was kind of laughing at him, right? But I, I paid attention to what he was saying, and he was exactly right. He said that you last night when it hit forty-four six, he said buy.

And people were like, "You're crazy." Blah blah. Well, I woke up this morning and looked at it, and it was already over 47, getting close to 48. I'm like, "Oh my god!" He was right. And he said the algorithms don't have - they don't lie. They don't get affected by the emotions like we do. He said they look at this, this, this, and they tell you what they see, and and they're more accurate than we are. So, Craig, Craig had asked something as we kind of like ventured off, but.

You know, when you're investing, you talk about and you consider your risk, right? Your risk tolerance is something that you can use to determine your your investment profile and strategy and and and all that. But there's a lot of, I guess, there's a lot of tools in forex that you can't find anywhere else.

And one of those is like a trailing stop. So, every single movement in forex is called a pip, which is like like a sub fractional cent of a currency pair. And you can set up a trailing loss. So when you're when you're when you're rate when you're um when the pair goes up and you're moving forward in pips.

Your trailing stop loss will go behind it. So, if anything, for example, let's just say, depending on your your risk tolerance and your threshold, right, you can set a 20 pip trailing loss. I think mine set at 30 pips or something. And this is what the bot does. Like, you can set that within the bot, like, so your risk tolerance. But essentially, if it just spikes down, it'll just sell out.

And that's a way that you you minimize your your loss because most of the time, and this is where forex is also you get big rewards, but you also get big losses if you don't know what you're doing. Um, but but because because it's so it's so hedged, and an average account is hedged fifty to one.

Now, what does that mean? So, for every one dollar I invest in my own money, the broker is giving me fifty. So, how much do you stand to lose? Just your dollar? You you can lose everything. Okay, lose your dollar plus the fifty they give you. But okay, so this is my question, like.

If you, because I have a leverage bet open right now, and and then I have my stuff that's not leverage that I own, like my cryptocurrencies that are in my portfolio, and then I have the ones that I have on leverage, five times leverage, and I know that if I lose the bet, that I lose five times that. But they they will only take the amount that you put down on the leverage, not right. That's like the amount you put down.

No, they'll take everything. They'll take everything. Okay, that's good to know. Yes, they're they're loaning you. They're loaning you money. It's kind of like the banks. They give you, you know, or Capital One or whoever. Like no endorsement, but they'll give anybody a credit card because they hope that you go and rack up a balance on it and then hold that balance. Like they're loaning you money.

So, like, knowing that, like, that makes me personally feel like, um, like I need to hurry up and and en enlist the help of a bot. Yeah, I, I guess. I mean, I like that's what I feel like I should do because I I can't afford to lose everything, and I don't always make the right choices when it comes to what's going to happen.

Well, there's there's always safety markers in in any of your investment vehicles, right? So one safety marker can be like a stop loss, right? So whenever your you know stock increases in price, you set a buy pattern or a sell pattern. I'm sorry, a sell pattern at a certain value. Let's just say you set that value at.

Zero, right? So let's just say you bought it at this dollar amount. You set your stop loss, or you know, take profit, or I'm sorry, your stop loss at that value, right? So no matter what, if it goes below what you invested, that's when you start losing money, right? Theoretically. So if it goes back down to zero, which is where you bought in at, it sells out automatically.

Right, but also the upside on that is, you know, a take profit, right? So, and that that's where these bots leverage the buying and selling, your stop losses and your take profits, and a take profit essentially is like if it moves up eighty pips or a hundred pips or whatever, the the take profit is following the trend.

Right, so, and the trailing stop loss essentially trails behind where it goes up. So, anytime the the forex pair is going up and down, that that trailing loss is following it, right? And so, let's just say there's a huge sell off or something, and it just falls like literally, like like straight to the ground, right? Like you're dropping a dime off, you know, a building or something.

Like if it ever just goes down between that ten pips in one movement, that's when it sells. You know, so so when you have a take profit set, does that? I've never done that because I thought, like, say if something goes, I think the word is parabolic. Like if it just goes crazy and increases. So if you have a take profit set, won't that sell and close your bet and possibly, like, what I would say?

You know, could be prematurely. Like, say, if it's going to go quite a bit higher, you could end up closing the bet. You know, at level one when it could went like way higher, right? That that's the risk you run with a take profit. Is am I right? Right. Okay. Absolutely. So you risk selling it early, or you risk missing the peak of the of the of the interest. Sure.

Yeah, yeah, absolutely. I mean, it it can work both ways, either to your advantage or to your disadvantage. But I would assume, I would assume that these bots are programmed to kind of see if they can, like, kind of follow trends and kind of sniff the the trends a lot better than we can. Then I would imagine. Well, no, I guess there's they're not set up that.

Typically, when you know you're talking about a bot designed take profit, typically they'll use like the like Bollinger Bands, which essentially is kind of like the trend of the up and down movement. Um, did we did we lose BJ?

No, I think she's still on there. Okay, okay. I gotta jump in a few minutes, and I forgot I gotta use the Zoom meeting for another. But we can definitely continue this because it's been good. Yeah, yeah. So, so typically, I'll go through this really quickly. But typically, the way that these auto take profits and and and you know stop losses are is they're using like an indicator called Bollinger Bands.

Which essentially just shows like the trend, the swing trend of of the the movement. So, typically, obviously, there'll be a peak band, and then there'll be a lower band, like an upper band and lower band, and they'll set that that that take profit just below the upper band.

And they'll set the stop loss just below the lower band, if that makes sense. Yeah, it does. I didn't know that that was an option. I thought you had to put in like a a take profit and a stop loss. I thought you had to put either a dollar amount or percentage. But you're talking about they're using indicators. When yeah, when yeah, when you're manually doing, you know, when you're manually entering a forex order, yes, you do, you do put those.

Those values in manually, but when we're talking about using EI or expert indicators for Forex, that is done dynamically by the. Oh wow! Now that is that's a game changer, I would think, because that's why I don't do the stop loss. Like I'm behind on sleep this week, and the reason why is obviously we're in a very volatile timeframe for Bitcoin, and I'm you know I'm long on my leverages, like I.

Believe it's going way higher. So I'm literally at night sitting here trying to stay awake with my eyes glued to the screen because I don't have a stop loss or take profit because of you know certain you know you know I don't need to explain why. So I'm sitting here just watching, praying that I don't fall asleep. Something major happens. Well, that's that's where you start thinking like like is investment like healthy? You know. Well, yeah. Well, no. And the way I'm doing it, no. The answer to that question would be no. It's not.

But so, but it sounds like I need to explore getting some assistance from a bot because I can't, I can't continue to try to stay awake. You know, right? And I think, I think it just depends on the platform, you know, the platform that you're using. And I'm not sure about these different brokers or, or platforms or trading options or trading service providers or whoever.

You know what they offer, but it's really common in forex. And you know, we're we're we're mostly talking, and you know, we're talking about principal and theoretic theoretical, you know, like situations and scenarios here. But what I can tell you is, between yesterday when I installed the bot and opened my.

My new investment account, and today I made about eighty four dollars doing nothing. Oh wow! I get that in reality, and again, you know, like Craig said, this is not investment advice. This is just.

Principle theory and well, and it's even it's it's more than that. Like it's not investment advice by any means, because anyone listening to this can tell that we're all trying to learn this. Like we are not experts in this stuff, but what we do have a pretty good understanding of is the value of artificial intelligence. Like I think we're all sold on that. We use it in our own business. You know, Craig's an expert in it, and we use it in our own business, and and we see how it helps us. So I think that's what we're that's what we are very clear on.

On is that artificial intelligence has a huge value, and and more people use this type of software than people know. You know, like when you go and have a savings account at the bank, they're using forex. So, no way, that's it. They're using forex to to create your investment portfolio, most likely. Oh wow! Yep, well, thank you.

Appreciate that, Blake. We definitely need to continue this. I got to run. Yeah, who knew Blake was such an expert on this? I didn't. Not really, not really. Well, you have a lot of knowledge on it. You shed a lot of light for us. It is cool. It is cool. Yeah. Tie in. Well, it just more of the story is like our our company name is Petronella Technology Group, and there's a reason why, right? Like technology is going to change the world.

Maybe our our next one, since this one kind of transitioned from you know crypto to to forex, maybe our next one could be forex. Sure, because there's a lot, a lot, there a lot there. Yeah. Well, and then and then and then obviously crypto is like the baby of the scene, like it's fresh on the scene. But obviously, you know, the future is bright for it. So if we can, if there's tools that we can find that work somewhere and and they can be applied.

I mean, yeah. I mean, we're on the cutting edge. Like we're literally on the pulse of of the future. Indeed. All right, guys. Thank you. Yeah, thanks, guys. Here. Okay. Bye. That's a wrap on this episode of Encrypted Ambition. Subscribe wherever you listen. And if today's guest inspired you, leave us a review or share the show with someone in your circle.

To learn more about how we support innovators with AI, cybersecurity, and compliance, head to petronella.tech.com. Thanks for listening, and remember, the future favors the bold.