Mitpat - Been 18 Months Since I Retired, What Have I Missed?
10-24-2016, 05:20 AM
Post: #1
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Those of you who were around back then, about 18 months ago I sold my IM company and retired from all forms of IM (effectively mandated by contract for 2 years). Originally I planned to get back into IM after the 2 year mark but that's now changed.

For the past 18 months I've been doing the following

  1. Read over 50 books on all sorts of topics (self improvement, investing etc)
  2. Discovered what it was about me that allowed me to be so successful in such a short period of time (basically habit forming, constant self improvement and a personality that readily accepts failure as lessons)
  3. Learn't to trade forex using my own money and have finished my first full year of trading (more than doubled my money :D ). This is what I now do for a living.
  4. Still haven't gone on holiday (I'm sure I'll get there eventually once I run out of things to do)

I thought I'd check in to see how everyone is doing now that I can come back and post freely, have I missed much?

Oh and feel free to ask me about anything (within reason Wink)

Please don't message me with mentoring or business proposals as I simply do not have the time. If you need any help please use the link below for the helpdesk.

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 Thanks given by: lordscarlos , D_Gates , GreeneHelp , MotherLoadDolla , xujambambam , Opeyemidy
10-24-2016, 06:00 AM
(This post was last modified: 10-24-2016 06:03 AM by Biosade.)
Post: #2
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You said you planned to get back to IM after 2 years, why did you change your decision?
Also what kind of life do you have right now? You said you are not allowed to say how much money you got for your company, do you have luxurious lifestyle atm?
btw
My dad owns a company for people who are interested in investment fonds, maybe your interested :D
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 Thanks given by: mitpat
10-24-2016, 06:06 AM
Post: #3
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Hey mate, I remember you when I was just a beginner and you were one of the best guy's in IM. Good job on that, I am glad that you are back. Hope you can earn now even more. :)
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 Thanks given by: mitpat
10-24-2016, 07:09 AM
(This post was last modified: 10-24-2016 07:12 AM by mitpat.)
Post: #4
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(10-24-2016 06:00 AM)Biosade Wrote:  You said you planned to get back to IM after 2 years, why did you change your decision?
Also what kind of life do you have right now? You said you are not allowed to say how much money you got for your company, do you have luxurious lifestyle atm?
btw
My dad owns a company for people who are interested in investment fonds, maybe your interested :D

By the time I sold my IM company I'd got to the point where I was working like a maniac to make my company as valuable as possible so I could get a higher price. I'd thought that I'd take 2 years out and then come back going at a much slower pace.

However after selling my company I was looking for an investment company to put my money into. The more I looked the more I disliked the idea as there are so many crooks or poor investors. The amount of companies which would charge you huge fees (typical was 20% of profits and a yearly 2% of whatever you invested) and yet got terrible returns (usually less than an index fund which are a lot safer and have dramatically lower fees) was astounding.

For years I've been buying and selling share in companies I've liked, so I decided to learn investing myself. At the time my thinking was if I learn to do it well myself then I'll know which investment companies to avoid and which to trust with my money. Well after getting into forex I enjoyed it so much that after 3 months I was doing it as a career.

Forex suits me much better personally and for where I am financially. I think in terms of the big picture, I've always invested in the same mindset too (I bought google, apple, tesla etc during their earlier days) and forex is all about the big picture. I typically only place 5-20 trades a week and yet I make much more money than in IM. In 1 year of forex trading I've made more money than the rest of my life put together and it scales and scales well past IM.

The biggest part for me though is the enjoyment, I read and plan trades for hours at a time and often reach the end of friday a little sad that the week is over (I'm slowly finding other things to do and I suspect the forced downtime at the weekend stops me getting burn out).

I can honestly say IM was never like that for me, IM was always about more done but it never was something that I missed. The first few weeks were an adjustment for me but I soon found that I was relieved that I was no longer doing IM. I've tried doing little things to get back in but I no longer have the desire to do so.

I'm now in the extraordinarily fortunate position where I only work for enjoyment not for need.

In terms of lifestyle I don't really spend that much (relatively). Since I finished IM I replaced my monitors with 2 40" 4k tvs (£400 each on amazon prime day :D - yes I love a bargain), bought some noise cancelling earphones (bose qc20 - worth it for the noise reduction). I drove a Tesla Model S for a week but decided against getting one as I never drive anywhere anyway. I also rented a nice house for a couple of months but honestly found living in a house by myself to be quite lonely (yeah I moved back into my parents house, my grandparents make me laugh - to them computers are basically magic :D ). I bought a Nintendo 3DS XL and modded it to play old GB and GBA games (childhood memories from playing 15 year old games was incredible).

Take it from me money doesn't make you happy, a lack of it does make you miserable though.

Thanks for the investment offer but I'm happy doing it myself (also sorry for the long post but it's my nature)

(10-24-2016 06:06 AM)Nem Wrote:  Hey mate, I remember you when I was just a beginner and you were one of the best guy's in IM. Good job on that, I am glad that you are back. Hope you can earn now even more. :)

Thanks, I'm really back just to see how everyone is doing though.

Also I think it's important for people to know that money in itself should not be your only goal and that becoming rich should not be a reason to isolate yourself.

Please don't message me with mentoring or business proposals as I simply do not have the time. If you need any help please use the link below for the helpdesk.

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 Thanks given by: Biosade , Bazingaa
10-24-2016, 07:38 AM
(This post was last modified: 10-24-2016 07:38 AM by Pachu.)
Post: #5
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(10-24-2016 05:20 AM)mitpat Wrote:  Discovered what it was about me that allowed me to be so successful in such a short period of time (basically habit forming, constant self improvement and a personality that readily accepts failure as lessons)


Hi buddy, let me quote this piece of your post becouse i think it's a key point.


Habit forming. How would u say you reached that point?

It is something that i really need to improve, REALLY. I'm used to procrastinate SO MUCH that i end up losing a lot of time without even noticing it.

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 Thanks given by: mitpat
10-24-2016, 01:25 PM
Post: #6
Did you sold a legit company that was on grounds or it was an Online website or something? I dont know much about you but would really like to know Looking forward to hear what are your future plans.
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 Thanks given by: mitpat
10-24-2016, 01:29 PM
Post: #7
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(10-24-2016 07:38 AM)Pachu Wrote:  
(10-24-2016 05:20 AM)mitpat Wrote:  Discovered what it was about me that allowed me to be so successful in such a short period of time (basically habit forming, constant self improvement and a personality that readily accepts failure as lessons)


Hi buddy, let me quote this piece of your post becouse i think it's a key point.


Habit forming. How would u say you reached that point?

It is something that i really need to improve, REALLY. I'm used to procrastinate SO MUCH that i end up losing a lot of time without even noticing it.

I didn't actually realise it until I started reading up on the power of habits but for the last 5 years I've been unknowingly forming positive habits that have transformed my life as well as getting rid of bad ones. To give you an idea 5 years ago I had all the following bad habits
  • Overweight due to mindless and unhealthy eating (solved this with calorie counting and mindfulness). I also didn't exercise (now regularly go to the gym as it helps me sleep better and I feel better doing it too, going with other people helped form this habit)
  • Didn't brush my teeth properly (never flossed and occasionally missed brushing some spots). I got sick of having fillings (pain and embarrassment) and asked the dentist how they kept their teeth clean, turns out almost everyone does it wrong. So I got an electric toothbrush and now brush each side of my teeth for 5 seconds. I also floss everyday too. I built this habit by adding it to my daily task list and listening to audiobooks whilst doing it.
  • Didn't sleep properly (I now go to bed at 8pm and wake up at 5am everyday without an alarm, I also wake up fully refreshed every time). Did this by going to the gym each day at regular times and then kept going to bed at the same time, I also set my PC to auto shutdown each day at 7:30pm.
  • Chronically procrastinated, I could go days without doing anything. This was the hardest negative trait to get rid of, it took me 6 months of constantly working and setting new goals to finally rid myself of it. Basically constantly working eventually became the new norm.
  • Had a tendency to try something without a goal in mind and then easily give up. I solved this by only doing the things that interested me and setting strict goals. I also only allowed myself to do 1 or 2 things at a time to force myself to prioritise what was important.
  • My spending was too high, I'd buy things that didn't make a huge difference to me and/or cost too much at the time. Learning the principles and doing investing changed that for me. At first I'd make myself write a list of all the pro's and cons of buying stuff which helped, now I just do it in my head.
  • Everyday I had a list of things to do (both new habits and actual work), I set myself rewards for achieving them e.g watch tv show and punishments for not e.g eat some horrible tasting healthy food. I had my brother keep track and ensure I did follow through. I paid him for it and he loved the idea of watching me eat some horrible tasting food.

I can seriously say habit forming has completely changed my life. The best part of it is that whilst it is hard to form a habit once you have it becomes easy. I do all my work without thinking or putting in any extra effort. I can't go to bed without going to the gym, brushing and flossing my teeth. I can't eat junk food without automatically checking the calories and ingredient list which immediately makes me not want it.

When I was at school there people who always insisted they didn't try and yet always did really well. I'd always assumed they were just showing off but talking to one of my high flying friends recently I found that wasn't true. He would get home, sit down and did all his homework and then go and eat and do other things. I asked him how he didn't get distracted, it turns out his parents for years made him do it and it eventually became a habit. Years later he was still doing it but he wasn't putting in any effort which is why he always insisted he wasn't trying.

I still do all the things I want but now I don't beat myself up for doing something stupid as I generally avoid doing them. When I do it's just something I add to my list of things to work on.

One thing I'd say about habit forming is that it is hard to start and that you should focus on doing only 1 thing at a time. Until you keep doing it automatically without reminders you shouldn't do anything else. Also periodically review (say weekly) to see how you're doing. You're going to mess up and that's okay as long as you get straight back on it again, don't put it off for later or tomorrow, just get back on it now.

For me changing my diet took about 6 months and I had a lot of failures along the way, but I made sure that I kept getting straight back on it and eventually the habit formed and stuck, now I eat healthily effortlessly.

Please don't message me with mentoring or business proposals as I simply do not have the time. If you need any help please use the link below for the helpdesk.

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 Thanks given by: bryan1 , Pachu , esmeralda , ςσsmiη , alexparris , EgoManiac , Antonio , LB'Decoy , herow
10-24-2016, 01:48 PM
Post: #8
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Hey mitpad, just wanted you to know that I learned a lot from your mentoring journey. Thank you.

Btw, how's your brother doing?
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 Thanks given by: mitpat
10-24-2016, 02:46 PM
Post: #9
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(10-24-2016 05:20 AM)mitpat Wrote:  Those of you who were around back then, about 18 months ago I sold my IM company and retired from all forms of IM (effectively mandated by contract for 2 years). Originally I planned to get back into IM after the 2 year mark but that's now changed.

For the past 18 months I've been doing the following

  1. Read over 50 books on all sorts of topics (self improvement, investing etc)
  2. Discovered what it was about me that allowed me to be so successful in such a short period of time (basically habit forming, constant self improvement and a personality that readily accepts failure as lessons)
  3. Learn't to trade forex using my own money and have finished my first full year of trading (more than doubled my money :D ). This is what I now do for a living.
  4. Still haven't gone on holiday (I'm sure I'll get there eventually once I run out of things to do)

I thought I'd check in to see how everyone is doing now that I can come back and post freely, have I missed much?

Oh and feel free to ask me about anything (within reason Wink)

Welcome back not much has changed besides lazy people that think it's harder to make money with CPA. I kind of like it because it's leaving more money for me to make. Really though I guess right now IG is exploding but from what I can tell it's getting harder for people to use due to account limitations but as you know there are ways around such issue. The CPA world is still going strong.
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 Thanks given by: mitpat
10-24-2016, 02:48 PM
Post: #10
hey its changed much with seo im learning this its harder cpa is here still :)
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 Thanks given by: mitpat

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