[00:00] and I lost that $10,000 so fast it made&nbsp; me sick to my stomach. I was panicking.&nbsp;&nbsp; I didn't know what to do. I didn't know how&nbsp; to recover from a loss like that. All right,&nbsp;&nbsp;
[00:13] so I've got this thing on my brain and I've&nbsp; been thinking about it for the last two hours&nbsp;&nbsp; while I've been driving. This is a huge misnomer&nbsp; by people. Okay. How much do you need to make&nbsp;&nbsp;
[00:27] good income? Where you live. This is the most&nbsp; important part of that statement. Where you&nbsp;&nbsp; live. Do you live in America? Do you live in&nbsp; South Africa? Do you live in central Europe?&nbsp;&nbsp;
[00:41] What is the currency that you are transacting with&nbsp; every single day? What are the cost of goods sold&nbsp;&nbsp; in that specific area? What is the price of gas&nbsp; where you live? There's a difference between the&nbsp;&nbsp;
[00:54] cost of living in somebody in California versus&nbsp; somebody in rural Kansas. There's a difference&nbsp;&nbsp; between the cost of living of someone in&nbsp; Thailand versus somebody living in Paris,&nbsp;&nbsp;
[01:07] France. So, a lot of people don't understand what&nbsp; they actually need to be a profitable day trader.&nbsp;&nbsp; They don't understand that depending on how much&nbsp; capital they start with, they could potentially&nbsp;&nbsp;
[01:21] replace their full-time jobs income quite easily.&nbsp; But they're always shooting for the moon. They're&nbsp;&nbsp; always trying to get $60,000 a month in profit.&nbsp; It's absolutely absurd that people think this&nbsp;&nbsp;
[01:36] way. And the thing that irritates me is&nbsp; that nobody really sits down and does the&nbsp;&nbsp; calculations for themselves. I remember when I&nbsp; started out day trading and I live in Poland,&nbsp;&nbsp; okay? And my goal was to make $1,500 per month&nbsp; because with the multiplier to my currency, it&nbsp;&nbsp;
[01:57] was one to four. So $1 equal four Polish currency.&nbsp; If I made $1,500, I'd be pulling in 6,000 Polish&nbsp;&nbsp; currency a month. And that is livable income where&nbsp; I live. So that was my entire beginning. How do&nbsp;&nbsp;
[02:15] I make 1,500 bucks a month? What account type or&nbsp; account size do I need to have? And what success&nbsp;&nbsp; rate do I have to have in my day trading to get&nbsp; that $6,000 or 6,000 Polish currency per month?&nbsp;&nbsp;
[02:31] And that's when my grow your small Forex account&nbsp; strategy or tactic started because a lot of people&nbsp;&nbsp; when they start day trading, they don't have a lot&nbsp; of capital. They don't have thousands of dollars&nbsp;&nbsp;
[02:46] they could just toss into a trading account and&nbsp; you know shoot for the moon and make millions&nbsp;&nbsp; of dollars. It doesn't work that way. The whole&nbsp; concept of day trading is risk management. How&nbsp;&nbsp;
[02:58] can you manage your risk? Because every time you&nbsp; put money into the market, you are saying to the&nbsp;&nbsp; market, "This is what I'm willing to put up in&nbsp; order to get my reward if I'm good enough." So,&nbsp;&nbsp;
[03:12] I made the huge mistake of depositing $10,000 into&nbsp; my first funded like actual live account after&nbsp;&nbsp; demo trading for an extended period of time.&nbsp; I thought I was the bee's knees, the best in&nbsp;&nbsp;
[03:28] the industry on my demo account. And then I put&nbsp; real money into a live account and I lost that&nbsp;&nbsp; $10,000 so fast it made me sick to my stomach. I&nbsp; was panicking. I didn't know what to do. I didn't&nbsp;&nbsp;
[03:44] know how to recover from a loss like that. And I&nbsp; didn't want to experience that pain again. So, I&nbsp;&nbsp; was very timid moving forward. I would only put in&nbsp; small chunks of money and that was my payto-play&nbsp;&nbsp;
[04:00] entrance fee. And then I started thinking about&nbsp; like compounded interest and how much you could&nbsp;&nbsp; make over time. And then that's when the 20 pip&nbsp; grow your small forex account challenge thing&nbsp;&nbsp;
[04:14] started. You know, I would put in 20 bucks and&nbsp; I would obviously overlever and over risk, but I&nbsp;&nbsp; would have successful trades and I would grow that&nbsp; account rapidly. And you have to think about the&nbsp;&nbsp;
[04:28] macro and micro aspect of this. On a macro scale,&nbsp; it's a very small risk because overall you only&nbsp;&nbsp; put in 20 bucks. But on a micro scale, you're&nbsp; let's say here, let me put up the spreadsheet.&nbsp;&nbsp;
[04:45] uh this side. This is the spreadsheet. You're&nbsp; basically trying to get 30% profit on every single&nbsp;&nbsp; trade to like go up in these levels. So, let's say&nbsp; you're around level 10. The risk per trade is an&nbsp;&nbsp;
[04:59] absurd amount of money. When you're at level 20,&nbsp; it's an absurd amount of money. That's the micro&nbsp;&nbsp; level. But if you're looking at the macro, you&nbsp; only risked 20 bucks for this account. And so,&nbsp;&nbsp;
[05:11] I did this challenge and I failed. I didn't keep&nbsp; track so many times it hurts to think about,&nbsp;&nbsp; but I knew that eventually if I got to that level&nbsp; 30, I'd have enough capital for a traditional, you&nbsp;&nbsp;
[05:25] know, personal trading account. And I would just&nbsp; trade that with the lower risk, half a percent&nbsp;&nbsp; per trade, 1% per trade per on the risk side with&nbsp; the reward 1 to 1.5, 1:2. And so I eventually did&nbsp;&nbsp;
[05:40] it. And I told myself I would never do that again.&nbsp; And it was absolutely stupid. But what I learned&nbsp;&nbsp; through the process was that I was able to get to&nbsp; level 10, 12, 15 [&nbsp;__&nbsp;] consistently. And that was&nbsp;&nbsp;
[05:56] the breakthrough that I had for most people. Most&nbsp; people can mentally fit in their head. It's that&nbsp;&nbsp; shoot for the stars and you land amongst the&nbsp; clouds type of scenario. So, let's say you're&nbsp;&nbsp;
[06:11] shooting to complete this thing to get $20 to&nbsp; $52,000, but you got to level 10 and it was easy,&nbsp;&nbsp; but after that it was hard. Look at the dollar&nbsp; amount for level 10. Okay, now this is where&nbsp;&nbsp;
[06:25] the fun part comes. Let's say you took your 20&nbsp; bucks, you got it to level 10, you now have $212.
[06:37] That's massive. you have money that you&nbsp; made from the markets day trading $212. Now,&nbsp;&nbsp; if you were to just stop doing that grow your&nbsp; small Forex account challenge right then and there&nbsp;&nbsp;
[06:49] and you have $212. Okay, you just take that money&nbsp; and you put it to the side for just a second and&nbsp;&nbsp; you run the numbers. Okay, where do you live&nbsp; on planet Earth? What is the average cost of&nbsp;&nbsp;
[07:01] living to have a sustained, comfortable lifestyle&nbsp; where you live? Is it $1,500 like I had or do you&nbsp;&nbsp; live in America where if you had five grand a&nbsp; month, you'd be comfortable. You'd be able to&nbsp;&nbsp;
[07:14] pay your rent. You'd be able to buy groceries.&nbsp; You'd be able to buy gas. All of the above. Now,&nbsp;&nbsp; you need to work backwards. I made a previous&nbsp; video on this, but you need to work backwards. So,&nbsp;&nbsp; let's use my example. I needed 1,500 bucks a&nbsp; month. Now, if I broke that down into trading&nbsp;&nbsp;
[07:31] days and I took those results from my back testing&nbsp; and my forward testing and my demo account and I&nbsp;&nbsp; saw that consistently I was able to make five&nbsp; or six% profit on my trading account per month,&nbsp;&nbsp;
[07:44] what total account size would 6% get me to that&nbsp; 1500? Right? And so if you do the math, if you&nbsp;&nbsp; take a $25,000 trading account and you make 6%&nbsp; per month, you will make 1,500 bucks a month. Now,&nbsp;&nbsp;
[08:04] you need to come up with a way to make $25,000&nbsp; to fund your trading account. Right? Wrong. There&nbsp;&nbsp; are other methods to do this. The whole goal,&nbsp; I'm going to keep drilling this into your head.&nbsp;&nbsp;
[08:16] The whole goal is to risk as little amount of&nbsp; money as possible for the maximum amount of&nbsp;&nbsp; reward. That's the name of the game of all of day&nbsp; trading. And it will always be this way. So, you&nbsp;&nbsp;
[08:30] did your grow your small forex account challenge,&nbsp; right? You took 20 bucks and you made it to $212.&nbsp;&nbsp; Awesome. Good job. Now, take that 212 bucks and&nbsp; how do you turn that into a $25,000 account? You&nbsp;&nbsp;
[08:45] use a prop firm. That's what these prop firms are&nbsp; for. It's an interview process to the company that&nbsp;&nbsp; is willing to give you money. You interview with&nbsp; this company that you want to work for. And you&nbsp;&nbsp;
[08:59] prove to them, hey, I'm good at my job. It would&nbsp; be a good idea for you to invest money into me and&nbsp;&nbsp; we can split the profits. That's the whole concept&nbsp; of prop firms. So, you take your 212 bucks,&nbsp;&nbsp;
[09:15] you go to FunderPro, that's the company that I&nbsp; use, you buy the $25,000 funded account challenge,&nbsp;&nbsp; right? And then you prove to them with your skill&nbsp; set that you are able to pass that challenge. Once&nbsp;&nbsp;
[09:29] you've passed that challenge, they give you a&nbsp; live account with real capital in it that is&nbsp;&nbsp; $25,000. You trade that, you make the profit, and&nbsp; you get your 6%. You get your 1,500 bucks a month&nbsp;&nbsp;
[09:43] and that's the solution. And guess how you got to&nbsp; that solution? You started with $20 and now you're&nbsp;&nbsp; making $1,500 a month. That's an insane return on&nbsp; investment. All you need to do is first practice.&nbsp;&nbsp;
[10:03] Practice with paper money. practice on a demo&nbsp; account so that you don't risk any of your capital&nbsp;&nbsp; until it is a sure thing that you can pass, that&nbsp; you can take that $20 to level 10. The goal is&nbsp;&nbsp;
[10:20] to practice before you implement because again,&nbsp; it's a risk game. If you put in real money and&nbsp;&nbsp; you're a brand new trader, you will fail because&nbsp; you don't know the ins and outs. You don't know&nbsp;&nbsp;
[10:34] the routine. You don't know the the strategy, the&nbsp; entry points, the best risk management. You have&nbsp;&nbsp; to practice those things. But you only need to&nbsp; do that for a few months. Take the time. Do it&nbsp;&nbsp; for a few months. Get the certainty and confidence&nbsp; inside of you and then deposit that 20 bucks. Try&nbsp;&nbsp;
[10:51] to get it to level 10. The goal obviously is 30,&nbsp; but just push knowing that the goal is 30. Push&nbsp;&nbsp; it. And then once you get to level 10 and you feel&nbsp; like, ah, I can't get past level 10, then stop.&nbsp;&nbsp;
[11:04] Take that money, buy a funded account challenge,&nbsp; and trade that thing, you have forever. There's no&nbsp;&nbsp; time limit anymore. It used to be 30 days. You had&nbsp; that pressure. Now there's no pressure. Get the&nbsp;&nbsp;
[11:16] $25,000 account, pass the challenge, and get the&nbsp; funding. Then make 6% a month. If you have a 1 to2&nbsp;&nbsp; risk-to-reward ratio, that's three good trades per&nbsp; month. That's it. So, if you have a 100% win rate,&nbsp;&nbsp;
[11:30] you only need to win three trades. If you have&nbsp; a 50% win rate, you need to trade six times.&nbsp;&nbsp; The numbers do not lie. It's your brain that gets&nbsp; in the way. So, what I've done for you guys on my&nbsp;&nbsp;
[11:42] website, there is a free link to download the Grow&nbsp; Your Small Forex account challenge. Get started&nbsp;&nbsp; on that, but practice on a demo account first.&nbsp; Then, once you've gotten comfortably to level 10&nbsp;&nbsp; numerous times, deposit 20 bucks. Do the Grow Your&nbsp; Small Forex account challenge. Take your $212. Go&nbsp;&nbsp;
[12:01] to Funder Pro. Use my coupon code here. Yeah, the&nbsp; normal price of the $25,000 account challenge is&nbsp;&nbsp; $239. But if you use my coupon code TMA15 and then&nbsp; click apply, you will get a 10 to 20% discount on&nbsp;&nbsp;
[12:20] this. So, it'll bring it to that 212 bucks. This&nbsp; is just my rant. I've been thinking about it and&nbsp;&nbsp; like how do people get to the point where they&nbsp; can make money but risk the most the least amount&nbsp;&nbsp;
[12:32] of money, right? Just take that as it is. Sorry&nbsp; for ranting. Hope you guys enjoyed this video.&nbsp;&nbsp; If you got some value out of it, drop&nbsp; a like and we'll see you in the next