How I'd Replaced My 9-5 Job With Day Trading (Starting from Zero) — Transcript

Full transcript

1. 0:00You've clicked on this video, so I'm
2. 0:01guessing you want to know how to ditch
3. 0:03your job and trade for a living. And I'm
4. 0:05guessing part of you is hoping that I'm
5. 0:07going to tell you that it didn't take
6. 0:09too long. It wasn't that hard and you
7. 0:11can do it on a sho string. I'm not going
8. 0:13to tell you that. What I'm going to do
9. 0:15is walk you through what it actually
10. 0:17takes, the real account size you need to
11. 0:20achieve your income target, how long it
12. 0:22actually took me, and one move that I
13. 0:26made to cut my timeline in half. Some of
14. 0:29this you'll be glad to hear. Some of it
15. 0:32[music] you won't. But if you're serious
16. 0:34about this, you need to get the honest
17. 0:37version, not some story that's been
18. 0:39polished up to look better than it
19. 0:40actually is. As I go through this video,
20. 0:43I'll tell you [music] how long it
21. 0:45actually took me and some of the
22. 0:46shortcuts I took to become a full-time
23. 0:48trader.
24. 0:52Hi there, and welcome back. Let's be
25. 0:54straight about the title. Starting from
26. 0:57zero, because 0 pounds or 0 doesn't
27. 1:01actually get you trading. That's the
28. 1:03plain and simple truth of it. What I
29. 1:05mean by zero is zero income from
30. 1:07trading, zero skill, zero track record.
31. 1:11And if you've got a job right now, a
32. 1:13wage coming in every month, and you've
33. 1:16not yet made consistent money from
34. 1:18trading, that's your zero. That's where
35. 1:21this whole thing starts. So, the very
36. 1:24first thing you need to sort out before
37. 1:25you look at a single chart, before you
38. 1:27pick a broker, before any of that is
39. 1:30what number you're trying to hit every
40. 1:32month, because if you don't know your
41. 1:34target, you're just going to be
42. 1:36drifting. The average monthly income in
43. 1:38the UK right now is $2,900.
44. 1:42So, I'm told that's roughly £3,800.
45. 1:47I'm going to use that as our number for
46. 1:49this video. It's realistic for the
47. 1:51majority of people watching. If trading
48. 1:53is producing that every single month,
49. 1:55you can probably walk away from salary.
50. 1:58Here's the thing that most people never
51. 2:00actually do before starting trading.
52. 2:02Seriously, they go straight into
53. 2:04strategy setups, which pairs to trade,
54. 2:06and they completely skip the maths that
55. 2:08tells them whether any of this is
56. 2:10possible on the account size they have.
57. 2:12So, let's do it. Now, if I want £2,900
58. 2:16a month from trading, it's around
59. 2:19£3,800.
60. 2:20I'm going to average this on a 7% return
61. 2:24per month, which is a little less than I
62. 2:26was producing when I first became
63. 2:27consistent and profitable. So, we said
64. 2:29$2,900
65. 2:31divided by 0.07.
66. 2:34That's £41,500
67. 2:37or around £50,000. 41 12K sitting in
68. 2:41your account producing your monthly wage
69. 2:46before you touch any of it. 41.5,000
70. 2:51around $50,000. And that's assuming
71. 2:54you're hitting 7% per month on average,
72. 2:57which in reality with the losing months,
73. 3:00with the slow periods, the psychological
74. 3:02pressure of trading your own money can
75. 3:05be pretty tough. This is the number most
76. 3:07people never work out before they start.
77. 3:10And it's why so many people give up.
78. 3:13They're on a small account expecting big
79. 3:15returns. And when it doesn't happen
80. 3:17fast, they think the whole thing doesn't
81. 3:19work. It does work. They just didn't
82. 3:22understand what the actual journey
83. 3:24looked like. So, let's talk about how
84. 3:26you actually get to £415,000
85. 3:29because most people aren't starting with
86. 3:31that. They're starting small and
87. 3:33compounding up. So, I want to show you
88. 3:35three different starting points and what
89. 3:37the realistic timeline looks like for
90. 3:39each. We're going to look at starting
91. 3:41with £1,000, £5,000, and £10,000 and see
92. 3:45how long it takes to compound each of
93. 3:47those up to that 41.5K target at 7% per
94. 3:51month. Okay. So, starting with £1,000,
95. 3:54about $1,300 at 7% per month, no
96. 3:57withdrawals, you hit $41.5,000 in about
97. 4:0155 months, just under 5 years. And
98. 4:05that's with everything going perfectly.
99. 4:07Add a year to 18 months for reality. And
100. 4:11you're looking at 6 to 6 1/2 years. Now,
101. 4:14let's up the game a bit. Starting with
102. 4:16£5,000, it's around $65,000.
103. 4:20You're there in about 31 months, just
104. 4:23over two and a half years if everything
105. 4:25goes to plan. Call it three and a half
106. 4:27to four years to give you some leeway.
107. 4:30Now, moving up even further and starting
108. 4:33out with £10,000,
109. 4:35roughly $13,300.
110. 4:38You're hitting your target in around 21
111. 4:40months. Just under 2 years of perfect
112. 4:43compounding. So, call it 3 years just to
113. 4:45factor in how things can occasionally go
114. 4:47astray. I know those timelines sound
115. 4:50long, and yeah, they are. But that's the
116. 4:54honest answer. This isn't a six-month
117. 4:56project. It's not even a year for most
118. 4:58people. But here's the question I'd ask
119. 5:00you. How long have you already been
120. 5:03doing a job that you don't want to be
121. 5:04doing? How many more years of that are
122. 5:07you prepared to sit through? 3 or 4
123. 5:09years of proper focused work, sometimes
124. 5:12even less than that, to get to a point
125. 5:15where you never have a boss again. You
126. 5:17trade when you want. You live where you
127. 5:21want. That's not a bad deal when you
128. 5:24actually look at it. The problem is
129. 5:26everyone wants it done in 3 months. And
130. 5:29that's where it all goes wrong. Let me
131. 5:32tell you how this actually went for me.
132. 5:34It wasn't neat and tidy and all plain
133. 5:36sailing. I didn't sit down, crunch the
134. 5:38numbers, and follow the plan perfectly.
135. 5:41Doesn't really work like that for most
136. 5:43people. From the age of 17, I began
137. 5:45building, running, and selling companies
138. 5:48back in the UK, Southeast London. So, I
139. 5:51wasn't short on work ethic or the drive
140. 5:53to figure things out. The turning point
141. 5:55for me was deciding that I wanted to
142. 5:56move away from the UK permanently. I
143. 5:59started trading in 2014. When it came to
144. 6:01trading, I was starting from scratch.
145. 6:04And to be honest, was like nothing else
146. 6:06that I'd ever attempted in the past. No
147. 6:08knowledge, no edge, nothing. just the
148. 6:11belief that I could learn it. And that
149. 6:13lifestyle on the other side was worth
150. 6:16going after. And my early trading
151. 6:18exactly as you'd expect. Too much risk,
152. 6:21not enough patience, taking trades that
153. 6:23weren't really there because I felt like
154. 6:26I should be doing something. All the
155. 6:27stuff I now tell people not to do. Then
156. 6:30I began working with a method that was
157. 6:33showing consistency. The first couple of
158. 6:35years are the hardest. Not because the
159. 6:37markets are some impossible puzzle, but
160. 6:39mostly because you're battling against
161. 6:42yourself. You're learning to do nothing
162. 6:45when there's nothing to do. You're
163. 6:47learning to take a loss, close the
164. 6:49laptop, and not let it follow you around
165. 6:51for the rest of the day. You're learning
166. 6:53that the boring, disciplined version of
167. 6:55trading is the one that actually works.
168. 6:57And I want to be straight with you.
169. 6:59There wasn't one big moment where it all
170. 7:01clicked and off I went. It was slow. It
171. 7:04was gradual. There were months when I
172. 7:06genuinely wasn't sure if this was going
173. 7:08to come together the way that I thought
174. 7:10it would. The moment I knew that I could
175. 7:12actually do this for a living wasn't
176. 7:14some massive winning trade or a record
177. 7:17month was far less dramatic than that.
178. 7:19It was looking back over three or four
179. 7:21months in a row where the results were
180. 7:23consistent, not huge, but steady and
181. 7:26repeatable and thinking, "Right, the
182. 7:29process is working. I've got an edge. I
183. 7:32can do this again next month." That's
184. 7:34the real sign you're ready. Not one big
185. 7:36win. When your results stop surprising
186. 7:38you. When you're just expecting to be
187. 7:41profitable because you've done the work
188. 7:43and you trust the process. That's when
189. 7:46you know. And then comes the hardest bit
190. 7:49because knowing you can trade and being
191. 7:52confident enough to walk away from your
192. 7:54usual income stream are two completely
193. 7:57different things. The scary part for me
194. 7:59wasn't the markets, it was the income.
195. 8:02going from being able to gauge my
196. 8:04monthly income, money that I knew that I
197. 8:07could control and see going into my
198. 8:09account each month no matter what to a
199. 8:12situation to where what I earned
200. 8:14depended not only on my performance but
201. 8:17also on what the markets offered me.
202. 8:20That's a massive shift in how you think
203. 8:22and how you feel about every single
204. 8:24trading day. You have a bad week and
205. 8:27it's not just annoying, it's your rent,
206. 8:29your food, your bills. That kind of
207. 8:32pressure sits on you differently. And
208. 8:34most people massively underestimate it
209. 8:37until they're actually living it. Right?
210. 8:39So, here's the part of the story where I
211. 8:42decided to bite the bullet and actually
212. 8:43go for it. And it's an option that in
213. 8:46many different forms can be open to many
214. 8:48different traders who are trying to
215. 8:50reach their let's call it their their
216. 8:52freedom target. A way to get there much
217. 8:54faster. And it's something most trading
218. 8:56educators never talk about. It's not for
219. 8:58everyone, but it's worth considering. If
220. 9:01you really want this, look at ways to
221. 9:03reduce your living expenditure. If
222. 9:05[laughter] you can do that, you'll be in
223. 9:07a position to inject more into your
224. 9:09trading capital, which in turn will get
225. 9:11you to where you need to be much
226. 9:13quicker. I went full on. I moved to
227. 9:16Thailand, specifically to the Isan
228. 9:18region up in the northeast. Not Bangkok,
229. 9:21not a tourist island, just a normal
230. 9:24everyday part of Thailand where the cost
231. 9:27of living is a fraction of what it was
232. 9:30back in the UK. And what that did was
233. 9:33simple. My monthly trading income target
234. 9:35dropped from £2,900.
235. 9:38It's around £3,800
236. 9:41down to around £1,400,
237. 9:44which is roughly $1,900.
238. 9:47That's it. One decision target cut in
239. 9:50half. Remember that £415,000
240. 9:53account, the one that produces your
241. 9:56income at 7%. At £1,450
242. 10:00a month, the account I needed dropped to
243. 10:02around £20,500.
244. 10:04That's around £275,000.
245. 10:07Half the account reached in roughly half
246. 10:10the time. More of my profit stayed in
247. 10:12the account and kept compounding. Less
248. 10:14pressure on every single month. And when
249. 10:16your need is less, you get there faster.
250. 10:20It's as simple as that. Now, look, I'm
251. 10:22not sitting here telling you all to move
252. 10:24to Southeast Asia. Obviously, that's not
253. 10:27realistic for most people watching this.
254. 10:29I'll get that. But the idea behind it is
255. 10:32achievable for almost everyone watching
256. 10:35this. Reducing what you need while
257. 10:37you're building is something anyone can
258. 10:39apply in some form. Could your partner
259. 10:42cover more of the bills for a year while
260. 10:43you focus on growing your account? Could
261. 10:46you cut back, downsize, move to
262. 10:48somewhere less expensive in your own
263. 10:51country, cancel some stuff, reduce your
264. 10:53outgoings? Everyone always asks, "How do
265. 10:56I make more from trading?" But the
266. 10:58smarter question when you're still
267. 11:00building is, "How do I need less?"
268. 11:03Because the smaller the gap between what
269. 11:05trading is producing right now and what
270. 11:08you actually need to live on, the
271. 11:10quicker you'll get to where you want to
272. 11:12be. If I was starting all over again,
273. 11:15knowing what I know now, here's what I'd
274. 11:17actually do differently. First, I'd sort
275. 11:20the numbers out before I did anything
276. 11:22else. I'd sit down with exactly the kind
277. 11:25of maths we've gone through today. I'd
278. 11:28know my monthly target. I'd know the
279. 11:30account size that I need to produce it.
280. 11:32I'd know realistically how long it's
281. 11:34going to take from where I'm starting
282. 11:36because in those early years when it
283. 11:38feels like progress is barely moving.
284. 11:41Having that road map makes a real
285. 11:43difference as to whether you stick with
286. 11:45it or not. Second, I'd focus on
287. 11:48consistency before I worried about
288. 11:49account size. The temptation when you're
289. 11:52starting out is to get more money into
290. 11:54the account as fast as you can, thinking
291. 11:57that's what solves it. It doesn't. If
292. 11:59your process isn't solid, a bigger
293. 12:02account just means bigger losses. I'd
294. 12:05have kept the risks small for longer and
295. 12:07only scaled once the results were
296. 12:09genuinely there month after month.
297. 12:11Third, I'd have made sure that I had a
298. 12:13financial buffer before I actually quit
299. 12:15and went full-time trading. 6 months of
300. 12:18living expenses set aside before walking
301. 12:21away from a wage or an alternative
302. 12:23income because trading under financial
303. 12:26pressure is a different beast. When
304. 12:28you're stressed about money, you start
305. 12:30making bad, bad decisions. It affects
306. 12:34every trade. Having that cushion means
307. 12:36you can trade the process, not the P&L.
308. 12:39And fourth, I'd have thought about
309. 12:41reducing my outgoings from the very
310. 12:42start, not as an afterthought. The
311. 12:44Thailand move came later for me. But the
312. 12:47thinking behind it, cutting what I
313. 12:49needed so I could grow the account
314. 12:51faster should have been built into the
315. 12:53plan from day one. So, let me pull all
316. 12:57of this together. Trading for a living
317. 12:59is genuinely possible. I'm doing it.
318. 13:02Plenty of people that I've worked with
319. 13:04are doing it, but it's not fast. It's
320. 13:07not easy. And it doesn't happen on a
321. 13:10tiny account in a few months. If
322. 13:12someone's telling you it does, they're
323. 13:14either lying or they got very lucky and
324. 13:18they're confusing that luck with skill.
325. 13:20Here's what it actually looks like. You
326. 13:22need a clear monthly income target. We
327. 13:26use $2,900.
328. 13:28That's around £3,800.
329. 13:31You need to know the account size that
330. 13:33produces that realistic return. We
331. 13:36worked that out at £415,000,
332. 13:39roughly $55,000 at 7% a month. You need
333. 13:43a starting point and a timeline that's
334. 13:45honest about how long the compounding
335. 13:48journey actually takes. And we're
336. 13:50talking anywhere from two to six plus
337. 13:52years depending on where you start. And
338. 13:55you need to be thinking what you can do
339. 13:57to reduce what you need while you're
340. 13:59still building because that lever is
341. 14:02just as powerful as growing the account.
342. 14:04If you're at the start of this journey,
343. 14:07the most useful thing you can do right
344. 14:09now isn't find a better strategy. Do the
345. 14:12maths for your own situation.
346. 14:14Work out your number. Work out your
347. 14:17account target. Build an honest road map
348. 14:21and then get your head down and commit
349. 14:23to the process, not the end result. One
350. 14:26month at a time. For me, I started with
351. 14:28a $500 account. That's all. I let the
352. 14:32account compound as it grew.
353. 14:34Additionally, I worked hard outside of
354. 14:37the trading sphere and injected more
355. 14:39money into my account for it to grow.
356. 14:41With the relocation to reduce our living
357. 14:44costs, I became a full-time trader
358. 14:46within approximately 2 years. It wasn't
359. 14:49easy, but then again, anything worth
360. 14:51doing usually isn't. Right now, I'm
361. 14:54working on a course covering every part
362. 14:56of my day trading method. If you want to
363. 14:58be notified when it goes out, click the
364. 15:00link below and enter your details.
365. 15:02You'll also receive full details of how
366. 15:04to use ETN strategy for free. I hope
367. 15:06this video gave you a more honest
368. 15:08picture of what the actual journey looks
369. 15:10like. Remember to subscribe and be sure
370. 15:13to leave a comment below and let me know
371. 15:15how your trading journey is going and
372. 15:17how far you've got to go before reaching
373. 15:19where you want to be. I'll see you in
374. 15:22the next one.