Apr 3, 2023
Last month I was mostly working with non-trading related matters of my business like onboarding a few more clients to my capital management service and improvement of my signals service. Onboarding of new clients for capital management is quite a boring process as it's not just about relationship building and tailoring your proposal to the exact needs of an investor, but also about navigating the difficult world of legal matters and regulations, which can be frustrating at times. Sometimes I could reach out to 20 brokers in one batch and none of them would appear suitable. But I usually persist until I find a solution and that's how it was the last month. Because no matter how boring or frustrating the onboarding matters are, I have a high value for helping people enrich their lives and that's really who I am. You can't take me away from me, so that's why I do it.
Regarding the signals service - it wasn't as good as I wanted it to be because not all of my trades can be broadcast as signals due to the very quick nature of those trades. And also I got sidetracked a bit due to the specific requirements of a new investor. It's hard when you try to please everyone as then in the end you forget about yourself and you are not successfully delivering what you promised. The last two weeks were especially hard to swallow because I brought quite a lot of profit to our internal traders group by posting my predictions as most of them were correct, but I took very little pips for myself because my mind was too distracted. So I thought about it a lot and decided to refresh my trading routine and introduce a much more relaxed, slower trading style which does not depend that much on perfect entries but more on the overall quality of my predictions. It's capitalising on my strengths and protecting myself and my investors from my weaknesses.
I also published a free ebook titled "$1000: The New Price Of Freedom". This short and easy-to-read ebook shows the raw truth on how to earn $1,000,000 in just 6 years or less with a very simple action plan. It suits everyone, doesn't matter if you work as a cleaner or as a CEO. It's not sugar coated and it doesn't involve any fantasy selling, no lambos, no boobs. I believe you cannot find a more honest book about making a million dollars on the internet. Actually if you read the classical books that are written 500 years ago or earlier, on the topic of becoming rich, you will probably find the same truths. For full disclosure the ebook is not a copy paste of anything, it comes from me and my personal observations, but it's funny how it turns to mimic the classics at times!
I also started looking into tax optimisation stuff and I became very interested about Cyprus tax residency. It's not where I'd love to live all year round because during our last trip to Cyprus in January it was so cold at every apartment or hotel where we stayed! And in summer it gets too hot. But the upside is that you don't need to live in Cyprus all year round, and not even half a year. It's enough to be there for just 2 months and you get the tax residency. Spring or autumn in Cyprus can be a great idea. Winters would be in Cabo Verde, Seychelles, Mauritius, India, SE Asia or Australia and summers in Lithuania of course. I like the islands around Africa due to timezone similarity to Lithuania/Cyprus but on the other hand Asia or Australia gives a different schedule that I'm open to trying out as well (enjoying the daytime while making business connections, holding meetings with clients or sunbathing in the beach and trading in the evenings and early nights). Lithuania/Cyprus, while it is a perfect trading timezone for 9-5 schedule, actually glues me to the screen all day which may not be the best option. On the other hand, in the evening the brain is not so efficient and it can even be harmful for trading results if I trade in SE Asia or Australia. Double edged sword.
What's so great about Cyprus taxation? Well I don't want to give tax advice here, but the main thing is that as a trader you will either be not taxed at all or you will pay relatively small taxes compared to other EU countries. It depends on your classification (domicile vs non-domicile). So that's very appealing because it gives extreme advantage to capital growth via compounding. Also, the annoying and eternal question if trading income is "income" or "capital gain" that is still a grey area in many countries, seems to be not even a question in Cyprus. Looks like they actually understand how traders operate and they don't need to hear your explanations. Which is great.
I also know one Lithuanian CEO of a major forex broker who moved to work and live in Cyprus a decade ago and he's very happy. Cyprus is a weird place to be after all, from many perspectives, but it's great that they found ways to turn this disadvantage into advantage and became a very attractive place for people looking to grow rich quicker by utilising their liberal legal and tax framework.
Remember that most governments, like most forex brokers, are crooks. Most of them are not your allies and all they are looking for is how to rob you so that you would never become financially empowered. So choose your government-partner wisely. They're mafia with big militaries and police force and they can do whatever they want. So find the one with which you can become allies and it will help you a lot in your journey to freedom. And after you picked your government, remember that after 20-40 years most likely they will become crooks like most of the others. They will increase taxes, crash the banks and extort your money in any way that they can possibly invent. So after you've picked your partner, understand that the good conditions won't last forever. It's simply part of their plan and there's no free lunch. They will come to take back what belongs to them. So always be prepared to move your tax residency to another country whenever needed.
Have a great month ahead.
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