How to Make $10,000 Per Month Trading

Jul 18, 2024

How to Make $10,000 Per Month Trading

Introduction

  • Purpose: Help traders make $10,000/month from home.
  • Speaker: Brett Go (The Trading Geek)
  • Key Points: Transparency in trading, live trades and profits, importance of patience and focus.

Speaker's Background

  • Trading for 4 years, made first six figures in year 3.
  • Documented trading journey on YouTube.
  • Retired his father, achieved financial freedom.
  • Focus on transparency and showing both wins and losses.

Market Mechanics

  • Million dollar strategy: Market Mechanics.
  • Trading like smart money, not retail traders.
  • Importance of understanding market manipulation by big banks.
  • Key Focus: Emulating trading style of financial institutions.
  • Liquidity and Smart Money Tactics: Triggering stop losses and capturing liquidity.

Key Issues for Failing Traders

  • Trading based on emotions.
  • Lack of a proper trading plan.
  • Losses bigger than wins.
  • Market manipulation by big banks.

Solutions

  • Create a trading plan.
  • Manage trading capital better.
  • Understand Smart Money strategies.

Five-Step Framework to $10,000/Month

  1. Think and Trade Like Smart Money:

    • Understand and emulate smart money tactics.
    • Avoid retail trading patterns (trend lines, support/resistance).

  2. Understand Economic News and Announcements:

    • Fundamental analysis: Analyze economic forces affecting currency prices.
    • Combine fundamentals with technical analysis for a holistic approach.
    • Key economic factors: Monetary policy, interest rates, CPI, GDP, etc.

  3. Manage Risk Properly:

    • Importance of risk management for long-term success.
    • Example: Traders A vs. B and the impact of risk-to-reward ratios.
    • Risk small percentage (e.g., 1-2%) to ensure survival.

  4. Develop a Millionaire Mindset:

    • Undo evolutionary wiring for survival; focus on rational decision-making.
    • Importance of discipline, patience, focus, and adaptability.
    • Build mental resilience through daily challenging tasks and discipline.

  5. Join a Trading Community:

    • Benefits: Support, accountability, interaction, and networking.
    • Free trading community: The Trading Tribe.

The 1% Club

  • Exclusive trading mentorship for aspiring top 1% traders.
  • Includes live trading sessions, coaching calls, community access, and tools.
  • Focused on results and practical execution.

Conclusion

  • Opportunity to join the 1% Club for $47/month.
  • Emphasis on the value and exclusive nature of the program.
  • Encouragement to take immediate action to secure a spot and commit to trading success.

Note: This summary focuses on key points and strategies discussed in the lecture. It aims to provide a concise overview of the concepts for review and study purposes.