Do this if you want to start trading and make £10k+ a month asap [Free guide]
A trader outlines how to earn £10k+ monthly by building a rule-based strategy, backtesting it, managing risk at 1% per trade, then accessing £100k+ capital through prop firms like FTMO. Scale by running multiple funded accounts and reinvesting profits.
Chapters
What's up, troops? So in this video, I'm going to talk about exactly what I would do if I had to start all of this trading thing again, step by step. Literally everything from the start, having zero knowledge, to being able to scale to $10K a month as quickly as possible. So if I was to— this was all just to disappear and I had to start from scratch today, this is literally exactly what I would do. And listen, I, I wish this was available when I started. I mean, I started when I was 17 years old, so been trading for near on a decade now, and the industry has come along a lot way. A lot of things have changed, of course. And if this was available to me back then and I was able to do this, then I mean, it's not successful at this relatively quickly. But if I was able to do this, then I would have cut out a lot of the pain, a lot of the trial and error, a lot of the time I spent doing nothing really and just sort of going around in circles. So again, in this video I'm going to talk about exactly what I would do. And really, to boil it down, those two things are: learn a mechanical strategy that gives you an edge in the market and to get funded. Get funded. Like I said, if this was available back then when I was starting out my trading journey, I would have saved myself a hell of a lot of time and money. So this might be a bit of a longer video. I'm going to go into quite a lot of depth. I've got some stuff here that I've put together to show you, to walk around. So if you're a complete beginner, you've never ever traded before, or you're just getting started, you're not really sure what direction to go in, pay very, very close attention because this will give you everything that you'll possibly need. And it really is this simple. So let me share my screen and I'll walk you through step 1. Uh, that's the wrong page. Let's go to— there we go, perfect. So the first thing that you need is a trading platform. I mean, this should be simple, but there's a lot of different platforms that people use. But there's two trading platforms that you're going to need. Okay, so number one is tradingview.com. Now tradingview.com is pretty much the sort of universal platform that all traders use for the most part for analysis. So you won't actually be trading on TradingView, but this is where you're going to be essentially watching the charts, you'll be going to be getting your data from, and you're going to be spending most of your time here, right? Because this is going to allow you to actually find your trades. The second one that you're going to need is MetaTrader 5. This is what I personally use and have used for many years now. Used to use MT4, now I use MT5. And MetaTrader 5 is really going to be the platform you're going to be using for placing your trades, okay? So when you find the setup You're going to then go to MetaTrader 5, and this is where you're going to be placing your trades. So what you'll need for this is you'll need a broker, you need to connect your trading account to it. Again, this is where your money is going to be available to actually use, but we'll get on to that later on in the video. So once you've got these two, once you've got these two, this is literally all you need— TradingView and MetaTrader. That's literally it. Most of the time you can be on TradingView and And then when you go to place a trade, you're going to do that on MetaTrader 5. You can also get a phone app for that as well. Now, moving on to number 2, which is learning a mechanical strategy. Okay, I'll put down strategy here. So you kind of have 2 routes to go down when it comes to strategy. Number 1, you can be a discretionary trader or you can be a mechanical trader. Now, I started off in the sort of discretionary space. I was waking up in the morning, I was looking at the charts, I was going through a million different markets, a million different currency pairs. I was using indicators, moving averages, all of this other stuff. I didn't really have a plan when I came onto the charts. I was just trying to find something that I thought looked good. And the problem with that is where there is discretion, there is no edge. Okay, I did not— I didn't even know what an edge was back then, but I didn't have a statistical edge in the market. So therefore I could really not track my numbers. I couldn't understand that if I continued to do this for the long term, if I was ever actually going to see consistent results. So this is why I recommend learning/building a mechanical trading strategy. Now, what is a mechanical strategy? Well, let me just share my trading platform quickly and we can go through it. So again, this is just a EUR/USD market. Again, this is what your charts will typically look like. And a mechanical strategy is essentially a set of rules that will guide you to high probability trades. Anything that is outside of those rules you don't care about because you know that if you follow those rules based on the data that you have collected you will make money over the long term. Okay, so how do we put together a set of mechanical rules? Well, the market moves in cycles, right? The market repeats itself day in, day out, and there's certain things called price delivery cycles. So the market will do certain things. For example, here we've done this, okay? We then pulled back and then we've run to the upside. Okay, so this that what we call price delivery model will play out time and time again, day in, day out, across a load of different markets, a load of different times, a load of different sessions. So what we will then do is if we see that a, a price delivery cycle is repeating itself, we can then put together a set of mechanical rules that allow us to identify those trades. So again, for example, here we might have a break of structure run back to the downside, sweep liquidity, and then target that most recent high. Okay, very, very simple. And you can put mechanical rules together. Okay, so you'll say, I'll be on the charts at X time, I'm then looking for X to happen, when X happens I enter at Y with my stop loss here, my take profit there. And then what you can do is you can go away and you can backtest those rules. Okay, so you can use things like FX Replay, you can put together a Google Sheet anything, right? You just— you then collect the data on those rules. So you'll go back and you'll look for the last 3 years, 5 years, whatever. You'll collect the data on that and you'll conclude whether if you continuously follow those rules, will you have an edge in the market? Okay, so will your net result after following those rules for X period of time, will that be positive? Okay, and the benefit of doing this is that every single time you wake up and you check the charts you'll know what, where, and why to do something in any given time. Okay, you have a clear guidance, a clear process to find trades where the probability is in your favor. And the problem with trading with discretionary strategies is it's kind of just up to you, right? You jump on the charts, you see what's going on, and you put your opinions as to what's going to happen. Okay, we can remove all of that. We can remove all emotion, we all decision-making, all opinions about what's going to happen, because all we have to do is follow our rules. Okay. And the great thing about these rules is if you're going to go and trade discretionary, you have to build that skill set. Okay. You have to build that experience, which is going to take you years, right? You can't just jump on the charts and be a good trader in a discretionary fashion because you don't know what happens. But if you learn mechanical rules, if you collect the data on them, I mean, all you have to do is follow the rules and you're going to be profitable. It really is as simple as that. I mean, I've even worked with traders before that have been relatively inexperienced, I mean, no experience at all really, and they have been able to achieve incredible results in very, very short periods of time. I'm talking a matter of months, purely for the fact that they were on a very focused approach to finding the right trades. They weren't worried about indicators or trend lines or all of this other airy-fairy stuff that goes on in the markets. They were focused into the right opportunities, and then the margin for error there is very, very small. So you're able to actually gain an edge and follow that edge much easier. Okay, so my biggest recommendation is focus on learning or building a mechanical strategy. So let's go back to the board. Let me get rid of this. Okay, so once you've got that, once you've gained an edge in the market— I mean, this is probably one of the most important things— once you've got that down, you've got the data on a demo trading account that you'll be connecting to MetaTrader 5, and you can see that you're— you've got that edge, you're following that edge correctly, you're following and you're finding the right trades. Really, the, the second most important thing— I mean, it kind of goes hand in hand, right? I mean, you can't have an edge in the market without this, and, and that's Risk management. Even if you do have an edge in the market, if you don't— do not correctly manage your risk, then you no longer have that edge in the market because your losses are going to be inconsistent, ultimately leading to inconsistent results. Okay, so I recommend sticking to really no more than 1% risk, or 1 to 2% at any given position, and having that sort of fixed risk. It means that all of your downside is the same, and then you let your strategy do the hard work, which is obviously creating the upside. Okay, so on a, on a given position, you might risk 1% and you're looking to make 3 or 4% on that trade. And by doing so, if for example your risk to reward is, for example, a 1 to 3, so you're looking to lose 1% to potentially gain 3%, that means that if you correctly manage your risk, you only have to win I mean, listen, just over 30% of your trades and you're still going to be profitable, right? You can lose over half of your trades and you're still going to be making money. So if you do correctly manage your risk, okay, if you correctly manage your risk here, you will be able to put the odds in your favor even more so, as long as your strategy has a positive risk to reward, okay? Because you can afford to take all of those losses because you know that when you find that winner then it's going to put you back into, back into profit, right? It's going to buy you— for example, if you win 3%, it buys you 2 losing trades before you go back to break even. Okay, so very, very important. And again, often people neglect this because it is quite a laborious process, managing risk. If you're doing it manually, you have to go away, work out your lot size, look at your account balance, figure out the, the correct— I mean, sorry, you have to look at your stop loss size to then figure out what your lot size should be. So if your stop loss is hit then you're only going to risk— you're only going to lose 1 or 2%. So what you can do is you can use what I use, a plugin on MetaTrader called Trade Assistant. Okay, so what happens is you download Trade Assistant and it connects you up to MetaTrader 5. And what this will do is it will essentially allow you to manage your risk much, much more efficiently. Okay, so this tool here, I think it's like $100. Yeah, $100. It will go onto your onto your MetaTrader, and then every trade that you place, you can set it here to say I want to risk 1%. You'll drag these little lines on, on there on the charts, and every time you press buy or sell, it's going to ensure that your risk management is taken care of. Okay, so it'll work out that lot size for you. So it really does massively streamline that process of making sure that you're really watertight on the downside of your trades. Okay, again, I can't stress enough how important risk management is. I mean, listen, I've even worked with traders before that are finding the right trades. They're, they're profitable in terms of if you were to look at the R on their positions, they're net positive on their R, but because they're not correctly managing the downside, the risk is inconsistent. And again, it leads them to actually end up losing money, okay, even though they should be making money, okay? So do yourself a huge favor and don't just look at strategy, but look at risk management as well. It will save you a whole lot of heartache. Okay, and you're really going to keep yourself in the game even if you're not 100% performance and you're not performing exactly as the strategy says. You're still going to keep yourself in the game, okay? So Trade Assistant is an absolute must-have to really make sure that what you're doing is watertight. Now let me get my face on it one more time, okay? Now the final thing, okay, the final thing that you're going to need is capital, okay? Is capital. And when I first started getting access to capital, you only really had one option, right? You had to invest the money that you had saved and hope for the best. Basically, the, the path for me was I was either going to put this money in and compound it over 2, 3, 4, 5 years to start earning the money that I wanted to, or I ignore step 3, which is risk management. I try and flip my account to try and gain that advantage quickly and get to the stage where I can actually start trading professionally and properly with good risk management and be able to make the sort of money that I wanted to be making. Okay, and again, I was only young, I didn't really know the importance of risk management, but I kind of gave myself that head start because I did over-risk. I over-risked, I over-traded, I was very, very aggressive, and I got very lucky. I was able to go from something like £1,500 up to like £20,000, and then eventually up to £80,000 before losing a chunk of it. And it was a very vicious cycle, okay? But what that did, it kind of gave me a bit of a break in terms of being able to actually earn money and then being able to— okay, I've just lost a whole lot of money here, what am I missing? Risk management, okay? And then because I was then able to have that capital behind me, I was then able to sort of kick on a little bit. But the good thing is You don't have to do that anymore. You don't have to start with £300, £500, £1,000 or whatever, because we now have access to what we call proprietary funding, okay, or prop firms as they're commonly known. And you can get yourself access to six figures in capital relatively easy, right, if you follow those steps. So you gain a mechanical edge in the market with obviously the right strategy, and you can manage your risk and you can get that down and you can actually be a trader with an edge. Getting access to funding is very, very simple. Okay, so let's go back here. Okay, let's reveal this. Okay, again, the last thing is capital. Okay, so we can use what we call a prop firm, and then what happens is once you get the prop firm account, that will then connect to your MetaTrader 5. So you then do your analysis on TradingView, you then trade on MetaTrader 5, and that's where you can start making your money. So there's many, many different firms, tons of them. In fact, there's firms that come, there's firms that go, but companies like FTMO, they've been around for the longest. You're never gonna have any problems with them. Okay, now it's a very, very simple process. You come to the company, okay, you then go through a 3-stage process. So you have to pass step 1, which is making a 10% gain without seeing a 10% loss. Step 2, 10% gain without seeing a 5% loss. And And essentially what they want to see from you here is they want to see that you demonstrate your edge in the market, right? They want to see that the strategy that you're trading with and the risk management that you're doing is up to par for them to warrant giving you the account. Okay, it's as simple as that. You have to just demonstrate what you've learned is going to be profitable, right? They want to know that you can make money on these accounts. Okay, so upon completion of those two stages, you then become what we call an FTMO trader or funded trader, depends who you're with. And The great thing about these companies is you're then allowing yourself to trade properly and professionally from the get-go. You don't have to over-risk, you don't have to over-leverage, you don't have to over-trade because you are properly capitalized. For example, again, most of my clients are going to be starting at about $100,000, and the investment that you need to do this is only €540, about £460. So if we look at this in terms of a return on cash perspective, right, return on your cash, right? Let's say you take £500, you put it into a trading account, you go and make 10% in a month, okay, which is great returns, by the way. Making 10% in a month is, is very, very good. Are you going to be happy taking home 10% or taking home £50? I'm probably not. That's not going to get me out of bed in the morning to start trading. That's not going to exactly allow me to quit my job, right? So if you're somebody that is struggling on the capital side, I mean, even if you've got £10,000 to invest or £20,000 to invest it's still largely undercapitalized. Okay, but instead what you can do now is you can use that investment that you've set aside for your trading and you can allocate that towards going to get funded. So that £500, if that gets you access to £100,000 in capital, your initial risk is £500. You go and make 10% profit on that $100,000 account, you're going to keep 80% of anything you make. You're going to take home $8,000. So your investment is here, but your return is up here. So your return on cash is far, far greater doing this. Okay, obviously the only caveat here is— let me go back to, let me go back to the screen and let's go back to here. The only caveat to this is, okay, if I've got a little pen, often what people will do is they'll start here. Okay, let me make this a bit bigger. They'll start here Wrong color. Let me get a better color. Okay, let's do it again. They'll start here, okay? So get the trading platform set up. They'll open, for example, maybe they'll open a broker account or something, or, or they'll just go straight to a funding company. They'll pay for a prop firm challenge, and they'll, they'll wonder why they're not passing it, right? They're wondering why the prop firms won't give them capital. And that's because they don't have a strategy that gives them an edge in the market and they don't know how to manage risk, right? And what happens when you don't do this? You're a gambler, okay? You're a gambler. And a company that's willing to dish out funds is not going to want to work with a gambler, okay? So don't be somebody that just jumps in the deep end and tries to make money from the get-go because it will go wrong and you will lose a lot of money, right? Yes, your return on cash is better, okay, and you might get lucky and make a payout, but you're still just a beginner trader that isn't trading with an edge. So you're never going to have a long-term consistent income from your trading, right? But if you build the skill set first, you learn how to manage your risk, and you gain that edge in the market before you go to get capital, you're going to be able to pass prop firm challenges, you're going to be able to get payouts in the account, and then you're going to be able to scale. Okay, you're then gonna be able to scale because you don't just have to stop at £100,000. You can then go and get a £200,000 account, and you can get multiple of these, and then you can go to other firms and get more capital from other firms, and you'll connect all of that money up. You'll connect all of those trading accounts up to MetaTrader. Okay, so all of a sudden your investment could be in the low four figures. Again, a few thousand pounds could get you access to near on a million dollars. Even more in capital. Okay, so your return on cash is going to be far, far greater. Okay, and that's really going to allow you to get into the stage of— I mean, getting to $10K a month is going to be a fairly quick process once you've obviously completed these stages. I mean, you only need to get yourself $100K and then go make what, like 12% or something like that to hit that first $10K a month. And then you go and get yourself access to $200K in capital. I mean, the gains that you need to make on these accounts are minimal and you're making really, really life-changing amounts of money. So if I knew this, okay, and if this was something that I knew about, or that was even possible for me to do way back then, I wouldn't have had to trade with such an aggressive approach. I wouldn't have had to rely on luck and hope and best guesses for me to get to the stage where I am today. I would have been able to build the right habits from the get-go. I'd have been able to make a lot more money a lot quicker in a lot safer fashion as well.. And things would have just been a lot smoother, right? Things would have been a lot, lot smoother. And this is pretty much what I teach my clients to do within my program every single day, right? This is the route to go down. I mean, even if you're somebody there that's got £100,000 sat there in the bank and you're thinking of investing that into the markets, it's probably not worth it, right? It's probably not worth it. You can get just as much buying power for £1,000 of investment So it's like, why would you put your own capital into the market straight away, especially when you're a new trader? Right, you're far better off allocating a small, small portion of funds, learning a strategy, getting a— getting the right size capital, and then building your income that way. Okay, so again, let me just check my notes. Have I missed anything out? Okay, I don't think so. So Listen, this isn't Ribena, by the way. I'm not a child. These are Humantra electrolytes, so I'm not sipping on Ribena throughout my day. This is to keep me hydrated, okay? But if, if I was to start again, if this was all to go to zero and I had no knowledge and whatever happened to me and I had to start again, this is what I would do. Because number one, learning a mechanical strategy is the right way to go about it, but primarily it's going to allow you to get results a lot quicker because you're blocking out a lot of the noise. You've got the blinkers on and you'll be immediately guided to the right trades. Okay, so the margin for error is much lower. Once I've got the skill, once I know how to manage risk and I've demonstrated I've got that edge in the market on a demo, instead of me going and investing a small amount of money into the market and spending the next 2, 3, 4, 5 years trying to compound that money. I'm just going to go and get funded. I'm going to go and get access to capital from a third party. I'm going to give them their 20% split. I'm going to keep my 80% split. But what this is going to do is it's going to allow me to really increase my income a lot, lot quicker. And that's then going to give me the additional leverage to then reinvest those profits back into prop firms to build more capital again, massively duplicating my income pretty much on, on every new account I get. I'm gonna be able to double my income, double my income, okay? I'm then gonna be able to drop down the risk and I'm gonna be able to trade a bit more safe, okay? And I'm gonna be able to preserve my capital at that point and keep things nice and safe, okay? And then that increased income is going to allow you to build your own personal capital as well, okay? So then long term, you've got your funded accounts here, maybe 4, 5, 600,000 that's giving you your monthly income, okay? So that can fund your lifestyle. You're then building your personal capital on the side, which you're trading in the same way, but you don't necessarily have to draw down from. And then that's going to build your wealth over time because you're going to just allow that to compound, but you're not going to be drawing down from it, okay? Because you're drawing from your, your prop firm payouts, okay? And this— I'm going to do a video on this separately, but this is really how you build real long-term wealth from your trading. Okay, so if you're a beginner trader or if you're an unprofitable trader, strip everything back, focus on following this process, and you will be able to get to $10K+ per month very, very quickly. So that's it for me for this video. As always, any questions, stick them in the comments below. Make sure you like make sure you subscribe. I'm going to be keeping these videos up, so let me know if you enjoy them. Let me know if there's anything that you want me to make a video on specifically. I'm doing this to, to clear all of the bad information that gets put out in the trading space, so give me a heads up if you want anything. But I hope you've enjoyed it, and I'll see you in the next one.
