How to Make $10,000 a Month Trading from Home

May 29, 2024

Lecture Notes: How to Make $10,000 a Month Trading from Home

Introduction

  • Presenter: Brett Go (Trading Gig)
  • Goal: Share strategies to earn $10,000/month trading from home.
  • Transparency: Shows both wins and losses, provides real-life trading examples.

Personal Journey

  • Trading Experience: 4 years.
  • Milestones: Made six figures in the third year, earned $1M before 21.
  • Motivation: Improve financial freedom, retire his father.
  • Lifestyle Changes: Transitioned from being broke to living a financially free lifestyle.

Trading Basics

Problems Faced by New Traders

  1. Market Manipulation: Big banks and financial institutions manipulate prices.
  2. Emotional Trading: Trading based on emotions rather than plans leads to losses.
  3. Losses vs. Wins: Losses often bigger than wins for new traders.

Changing the Approach

  1. Understanding Smart Money: Learn how financial institutions trade.
  2. Creating a Trading Plan: Essential for consistent profits.
  3. Capital Management: Manage trading capital to minimize losses.

Five-Step Framework to $10k/month

1. Trade Like Smart Money

  • Market Controllers: Big banks, hedge funds, financial institutions.
  • Retail Trader Mistakes: Focus on chart patterns, support/resistance, and trend lines without solid backing.
  • Smart Money Tactics: Use liquidity manipulation to trigger retail traders' stop-losses.
  • Liquidity Swip: Common method for big institutions to gain liquidity.

2. Understand Economic News

  • Fundamental Analysis: Analyze economic forces impacting currency prices.
  • Key Economic Factors: Interest rates, inflation, CPI, GDP, NFP, central bank comments, economic disruptions.

3. Manage Risk Properly

  • Risk Management: Crucial for long-term survival and profitability.
  • Trade Example: Differences in risk-to-reward ratios demonstrate the importance of managing risk.
  • Golden Rule: The amount risked should be small to avoid large losses.

4. Develop a Millionaire Mindset

  • Biological Challenge: Human brains wired for survival, not trading.
  • Fight or Flight: Brain's quick reaction to negative stimuli can lead to poor trading decisions.
  • Emotional Control: Recognize emotions in trading and stick to the process.
  • Five Laws of Successful Traders:
    1. Focus
    2. Discipline
    3. Patience
    4. Adaptability
    5. Humility

5. Join a Trading Community

  • Community Benefits: Support, accountability, shared knowledge.
  • Trading Tribe: Over 5,500 members striving towards trading mastery.
  • 1% Club: Exclusive mentorship program offering detailed trading lessons, strategies, and live coaching.

Invitation to the 1% Club

  • Benefits: Live trading sessions, personal coaching, weekly webinars, private community events, trading tools.
  • Price Point: $47/month with limited spots.
  • Conclusion: Encouraged to invest in the program to master trading and achieve financial freedom.

Summary

  • Action Steps: Follow the provided framework, manage risks, develop a proper mindset, join the community for continued support.
  • Final Message: One trade away from financial freedom, make use of available resources and mentorship.