Mitpat - Been 18 Months Since I Retired, What Have I Missed?
02-18-2017, 01:19 AM
Post: #71
you are really inspiring sir :) viewing your old posts now.
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 Thanks given by: mitpat
02-19-2017, 02:59 AM
Post: #72
I went through entire thread, and you are seriously an inspiring person. :) welcome back here.
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 Thanks given by: mitpat
04-03-2017, 11:11 PM
(This post was last modified: 04-03-2017 11:17 PM by mitpat.)
Post: #73
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(02-17-2017 10:13 AM)devilishpsp Wrote:  Happy 2017! Hope you started off the year hard with bigger goals and are still constantly improving yourself.

I realize it's been a few months since your last post but I just had to ask. Why not go into launching products (e.g. apps, websites, etc. that serve as products) instead of doing investing/IM? It's such an area that you are propelled to keep on learning to be successful in. If you're not interested in it, do you think you could apply similar investing/IM principles to launching products and achieving similar (or more) levels of success? (ignoring obvious product examples like SnapChat, WhatsApp, etc.)

Well to give you an idea last year I tripled my wealth investing(technically speculating but lets just call it investing) in forex. To be able to make such a return in IM I would have to create a really incredible product and it would likely take years and years. Simply put the risk in forex is less and the hassle is enormously less too.

The biggest reason though is that IM became a job for me that I eventually got bored of where as investing is something I've been enjoying since I was 15. If I'd had the money from the beginning I probably never would have done IM and just gone straight into investing. My problem was I realised very quickly after finishing university that I was never going to work for someone else but I didn't have the money to do investing full time. I decided to do IM to make money quickly and then get into investing later. As it turned out I got hooked on IM but worked so much that I eventually got tired of it. When I got an offer to buy out my company I saw it as my big chance to go and do what I really wanted (though I did stretch negotiations out for a year).

Using the money I've got I probably could make a more successful product but I no longer have the desire which is why I'd fail if I tried. The biggest difference for me is that investing allows me to switch off when I finish work each day or at the weekend which never really happens in IM. The amount of money I make is a lot more down to me rather than relying a constantly changing market that is IM.

Ultimately IM was a great industry to get involved in and at the time was definitely my best option. Now however investing is a better opportunity for me so that's what I've moved onto.

Apologies for the delayed reply, I've been gone for months. I really only check in now and then.

(02-17-2017 12:54 PM)skinder Wrote:  Hey mitpat, you are so inspiring man! Is there any books you would suggest to learn about investing?

Thank you for the kinds words. Books on investing are really hard to recommend, I'd say read as much as you can. The most important part is learning and thinking for yourself.

If you're looking to get started I like all of Peter Lynch's books, Berkshire Hathaway Letters To Shareholders and Market Wizards. Note these are on stocks not forex (I've yet to find any books on forex that I actually liked).

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: alexparris
04-09-2017, 07:05 PM
Post: #74
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(04-03-2017 11:11 PM)mitpat Wrote:  
(02-17-2017 10:13 AM)devilishpsp Wrote:  Happy 2017! Hope you started off the year hard with bigger goals and are still constantly improving yourself.

I realize it's been a few months since your last post but I just had to ask. Why not go into launching products (e.g. apps, websites, etc. that serve as products) instead of doing investing/IM? It's such an area that you are propelled to keep on learning to be successful in. If you're not interested in it, do you think you could apply similar investing/IM principles to launching products and achieving similar (or more) levels of success? (ignoring obvious product examples like SnapChat, WhatsApp, etc.)

Well to give you an idea last year I tripled my wealth investing(technically speculating but lets just call it investing) in forex. To be able to make such a return in IM I would have to create a really incredible product and it would likely take years and years. Simply put the risk in forex is less and the hassle is enormously less too.

The biggest reason though is that IM became a job for me that I eventually got bored of where as investing is something I've been enjoying since I was 15. If I'd had the money from the beginning I probably never would have done IM and just gone straight into investing. My problem was I realised very quickly after finishing university that I was never going to work for someone else but I didn't have the money to do investing full time. I decided to do IM to make money quickly and then get into investing later. As it turned out I got hooked on IM but worked so much that I eventually got tired of it. When I got an offer to buy out my company I saw it as my big chance to go and do what I really wanted (though I did stretch negotiations out for a year).

Using the money I've got I probably could make a more successful product but I no longer have the desire which is why I'd fail if I tried. The biggest difference for me is that investing allows me to switch off when I finish work each day or at the weekend which never really happens in IM. The amount of money I make is a lot more down to me rather than relying a constantly changing market that is IM.

Ultimately IM was a great industry to get involved in and at the time was definitely my best option. Now however investing is a better opportunity for me so that's what I've moved onto.

Apologies for the delayed reply, I've been gone for months. I really only check in now and then.

(02-17-2017 12:54 PM)skinder Wrote:  Hey mitpat, you are so inspiring man! Is there any books you would suggest to learn about investing?

Thank you for the kinds words. Books on investing are really hard to recommend, I'd say read as much as you can. The most important part is learning and thinking for yourself.

If you're looking to get started I like all of Peter Lynch's books, Berkshire Hathaway Letters To Shareholders and Market Wizards. Note these are on stocks not forex (I've yet to find any books on forex that I actually liked).

Hi Mitpat,

A little bit out topic here. I won't ask you things about IM, but i'm interesting to know about your forex trading strategies.

So, basically, you're a daily scalper, weekly ranger or a monthly holder in forex trading?

Also, what types of technical tools you mostly use to analyze your pair's charts?

Normally, how many lots you open for 1 pip?
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