Trading for a Living: A Solid Game Plan Even if You Only Have $5,000 to Start With

Okay, so you want to trade for a living. You know, you're tired of your job, you're tired of whatever's going on. You want to be able to trade and make a living of it and have the freedom that comes with that, you know, so you can travel or just if nothing else, have control over your schedule, work when you want to and have free time. Right. Well, if you've only got five grand, gosh, what can you do? I mean, even if you jump into it and you happen to kind of figure it out and get lucky, you know, trading five grand up to a large enough amount where you can earn enough with it to actually afford a living and quit your job, that's going to take a while. Probably at least a couple of years, a few years, maybe five or ten before you can build up five grand. Up to where? Yeah, the return on your trading is making you the kind of money that pays for the lifestyle that you want. Right? Okay, so what can you do? Well, here's a solid game plan. If you're starting with just five grand, then that will actually get you there pretty fast and with a minimum of risk and actually in short order. And this is a reasonable game plan. Here's what I'm talking about. I mean, because the biggest, here's the thing, you got two big obstacles in your way right now. You need capital in order to again make enough from your trading that it affords your lifestyle. Well, you need to have a large enough account, right? I mean, even if you're, even if you're only making 10% a month off your trading and you have a $50,000 account, okay, that's five grand a month and that's with a $50,000 account pulling 10% a month, which is respectable. Okay? So you need capital. The second obstacle in your way is trading is not that easy. There are a whole lot of people selling it as, oh yeah, you know, just hey, buyers, you know, buy our strategy and you know, instantly turn your computer into an ATM and you know, be living the lifestyle. And I get the picture with the Lambos and the yachts and all that nonsense. No, it' not that easy. There's a whole set of skills that goes with being a competent, confident, consistently profitable trader. Now, so what are we talking about? Again? This is a skill based profession. And if you're trying to trade, you know, just figuring it out as you go through trial and error, that is the long hard road. The markets are not going to teach you how to trade. They're not going to tell you the markets aren't going to tell you what you're doing wrong. It's going to keep slapping you and taking your money until you're either broke, you quit, or, or you decide to quit going about it all by yourself. Okay, so what's a solid game plan again to get you past these two big obstacles? Lack of capital and lack of skill. Okay, so what can you do? If you want to trade for a living, you're tired of working a crappy day job, working for somebody else, building their dream instead of building your own. Okay, so what can you do? There are skills that you need for this job. You need more than just a strategy and psychology. You need skills. There are certain skills that you need for this job, but. Or you're just plain going to struggle. And here's the thing, if you're trying to do a job that you're not prepared for, and it's a job that requires a certain level of skills and expertise and competence, you're trying to do that job without the proper training. It's always going to be an emotional ride. Just because you're trying to do something that's beyond your skill set. And when you're trying to, when you're in that situation, it's going to be rough, odds are not going to be good, you're going to make a lot of mistakes and again, it's almost going to be impossible for it not to be an emotional experience. But when you get the right training and you have the right skills, it's a lot like any other job. You just go do your thing. Some days are better than others, but it's not that big of a deal. It's not this huge emotional ride. It's not this big mental psychological challenge. So okay, so you need money, you need skills. Okay, with five grand, what can you do? Okay, well first thing, rather than again throw your money into the markets, first thing you want to do is, is get training on the skills to be a good trader, to be a competent trader. And again, this goes beyond strategy. Buying a strategy does not make you a competent trader. That means you have a strategy you still need to focus on you. Okay, so you need the skills to, you know how to take a strategy, properly systemize it properly, deploy it so that you go to the markets knowing that it works and you're not just hoping or going off somebody else's claims. So you need that skill set as well as the business aspects of trading, the self management aspects of trading. I mean there's, like I said, there's A range of skill sets that goes with being a competent, successful trader. Okay? But you put, you put your money into the training there and you know, for 1,000, $2,000, you can get yourself some good training. Okay? So you invest in yourself, spend a few, you know, let's say 3,000 of your 5,000, you invest in yourself to get your skills up, take care of those skill deficiencies, then you take the other $2,000 and you go to a prop firm. Prop firm is one where you can go through a qualification period demonstrating that you know what you're doing. And then they will give you a live account and you get a significant cut of the profits that you make and you can get access to a pretty decent sized account. I mean 25,000, 50,000, 100,000 quarter million dollar, half million dollar accounts. There are fees that go with it. But again, if you demonstrate the skills then, and you have the skills, you can get through the qualifications because you know what you're doing. You can get the funded account now you have access to that capital and a lot of prop firms will offer a 50, 75%, some offer up to a 90% cut of the profits when you're trading the funded account. That means that you can be making decent money pretty fast. You can scale up very fast because you have access to somebody else's money. What you need to bring to the game is you need to bring to the game the skill set and the know how to be a competent trader. That's what they're looking for. If you can show that you have that competence, that skill, they will let you trade their money. But you have to prove it by doing it. You can't talk your way into it. You have to prove it. And that's okay. Again, get the training. Trading is not an occupation that is beyond you. You can learn the skills that you need in a matter of a couple months or even, you know, a matter of weeks. And so it doesn't take six months, it doesn't take a year to gain the skills that you need. It might take a little bit of time, you know, to refine them and hone them and continue to develop them. But as far as gaining the skills, getting through the training, that doesn't take that long, which is cool. Okay, so here's the game plan again. You got five grand set aside, $3,000 for training in you where you learn how to, you know, learn how to be a consistent trader who can execute consistently. You know what you're doing, you know how to select the system, you Know how to, how to hone it and refine it, you know how to manage it, you know how to test it and deploy it, you know the business aspects and managing the trading operation and managing yourself, you take care of the training for that skill set. Because again, consistency and self management is the key to trading. If you don't have consistency, you got nothing. I learned a long time ago you can have an even a mediocre trading strategy and if you can execute it consistently, you'll make more money and it will outperform a great strategy that's executed inconsistently or poorly all day long. If you can't execute consistently, it doesn't matter what kind of strategy you got. So consistency really is the key. And again, you take care of that through skills learning the skill set. When you get so your $3,000 goes toward that, then the other $2,000 will cover the fees that you need to get through the qualification period with the prop firm. Then you get the funded account, then you're looking at payouts that cover the fees and start paying you money. Cool. And this is how it works. You get leverage from, you're leveraging your resources and what's available to you in the best way possible by taking this approach. This is a solid game plan. If you only have like five grand to start with, this is a great game plan because rather than throw that $5,000 at the market, you know and learn by trial and error, hoping to start making money, that's the suckers game. That's one that a lot of people play. This is not that easy. Invest in yourself, take care of your skill deficiencies. You know, learn what you need to learn so that you become a competent trader. Then you go leverage other people's money and scale up quickly, get to making that money and you're, you're, you're really not risking anything more than your initial $5,000, which is cool. And again, you're investing in yourself. So what do you learn you benefit from for life anyway. Okay, so how do you do this? Where can you, where can you find out more about this swing by insideouttrading.com My background is quality assurance and I'm an engineer. So yes, I can teach you how to take care of the consistency part and the skills to go with trading. It doesn't take very long, takes a matter of weeks, two, three months tops. And you'll have that skill set to know what you're doing. So you have the competency to go to a prop firm, get qualified, get that funded account, and again, do it in a knowing manner because you know what you're doing and that's what's cool. Anyway, swing by Inside Out Trading.com there's some free resources there. First thing you want to do if you're already trading and you've been struggling, you know, with making money and giving it back. Making money, giving it back. Okay, first thing you want to do then go go to Inside out trading. Grab a copy of Break the cycle. So free report you can get 10 things you can do in the next 20 minutes to help you break that cycle of again, making money and giving it back. Making money, giving it back. Break the cycle. That's the report that you want to grab. There's also other trainings there on, you know, how to be a consistent trader, how to make consistent monthly profits. Science of consistency. So anyway, swing by and set out trading.com a lot of free resources for you there. This is a good starting point as far as, you know, getting the education and the skills that you need to be a competent trader. I hope this been helpful for you. If it has, you know, give me a like down below. Subscribe to the channel. Share this with your friends and you know, hey, I'm here to help you. I want to see you make it again. I hope this has been helpful. Talk to you soon. Cheers.