5-Stage Trading Plan for Consistent Profits — Step-by-Step Guide & Transcript

[00:01] thought I was a Yahoo boy when we first met. Not until he actually witnessed what I do. So, let's talk about this in this video. [music] How do you do so well for yourself as a trader? People think you're into crime.

[00:17] And I'll begin with this iPhone 17 of the video. Now, Now, most people don't believe money is

[00:29] honestly, they are not wrong. they are not wrong. They have been hurt really, really bad. And statistics even shows that about 85% of traders lose all their money within

[00:45] [music] 90 days of trading and most never come back. So, this skepticism But, there is a 15% who are in the game

[00:58] and making a living from it. And I'm not talking about influencers and people selling [music] courses. I mean actual traders. People sitting in front of the charts and making real money.

[01:11] >> [music] >> differently? I'm about to give you given you. The difference between the 85%

[01:24] The difference between the 85% and the 15% is simply the plan. An extremely boring plan. The 15% follow this plan. The 85% don't.

[01:37] plan. Now, if you've been losing as a trader, you are probably not going to like a lot of what I'm about to say. So, you can you stay,

[01:51] month can move you into that 15%. Now, let's talk about this plan. It is so boring that most traders will not follow it.

[02:04] There are five stages to this plan. You need to follow them stage You need to follow them stage by stage. The first stage is learning.

[02:21] as simple as just buying a course. 90% of courses, mentorship, and paid are just noise. Some are outright fraud. I learned this

[02:33] the hard way. I spent over $13,000 trying to find the right knowledge. Courses after courses, indicators after indicators, private communities, mentorship. And when I look back, >> [music]

[02:48] >> I shouldn't have spent $13,000. At most, $1,800 because out of everything I bought and subscribed for, only two of them were

[03:00] worth it. One cost for $1,300 and the other for $495. And if I'm being honest, the $495 one was just all I needed.

[03:13] This is the reality of the learning stage. You could hit gold in the first month or it could take you years depending on when you find what actually works. That is stage one.

[03:28] That is stage one. Stage two is

[03:41] Once you have the knowledge, don't touch the live charts yet. You backtest the right way. just open the TradingView charts and just

[03:55] look at data and just feel that backtesting. That is not backtesting. You have to backtest the right way using proper tools like FX Replay [music] and going through at least six months of historical data across multiple assets.

[04:12] Because backtesting tells you which asset your strategy actually works asset your strategy actually works better on. Not which one looks good. confirm that. A strategy with a 40 to 50% win rate and

[04:28] a minimum risk reward of 2R is all you need to be profitable. I personally go for a minimum of 3R. If your strategy achieves this, then If your strategy achieves this, then 3 to 8% P&L a month is a realistic

[04:44] and fantastic target. This stage alone can take you up [music] to a month. Don't rush this. Once we're done with backtesting, we'll Once we're done with backtesting, we'll move to the next stage, which is

[05:05] You have to do this for two to three months minimum. Notice that at this stage you haven't even touched real money and we are already four to five months in. This is exactly why most people fail.

[05:20] of the process. But, demo trading does three things that are fundamental to your success. One is that it shows you how trading fits into

[05:32] your real life. Not the version of your life where you are free to sit in front of the chart all day. Your actual life. Work, travel, family, emotion,

[05:46] everything. Can you actually take the setup you found in the backtesting when they show up in real life or do you miss them because life gets in

[05:58] Two, in demo trading you have to journal. >> A tool like Edgewonk makes it really, really effortless. What you do with Edgewonk is that you connect your MT4, MT5, or even your Bybit account and it

[06:12] automatically does the journaling for you in real time. The data that you get from this show you exactly where you are leaking and what you need to adjust. You cannot do this by just journaling

[06:26] this in yourself or just um cramming it in your brain. My swing trading strategy, for example, gives me zero to three trade opportunities a week. So, two to three months of demo trading gives enough

[06:39] months of demo trading gives enough trades to actually see a pattern in your performance. The third thing that demo trading does, and this one is really important, is that demo trading tell you if trading is

[06:53] actually for you. If it is not, you're going to find out here before risking a single dollar. You only risk so far in this journey acquiring the knowledge and the tools like FX Replay that you bought.

[07:08] That may hurt your feeling, but it's nothing compared to losing real money to the market on top of it. If your demo trading results are good and consistent within the 3 to 8% range, then you are ready for stage four.

[07:37] account. Say $100 to $500. Say $100 to $500. Trade it for another two to three months as well. This is where real psychology kicks in. Demo trading and live trading

[07:53] feels completely different when your money is on the line. Now, if you make it through this stage, you now have four to six months of real journaled data. [music] You know your win rate, your actual win

[08:09] rate. You know which asset works for you and you know your edge. And with that, you're now ready for stage five. And the stage five is for stage five. And the stage five is where the real money is being made.

[08:23] where the real money is being made. Stage five is This is the stage that changes everything.

[08:36] You get a funded account from a reputable prop firm. Now, there are so many prop firm out there. You see ads on YouTube for so many prop firm. >> Many of them are shady. You have to look for a reputable one and I linked two of

[08:50] Now, [music] with prop firm, you pay for evaluation. Maybe say for a $20,000 account. You need to start small need to start small and you risk about 0.5 or 0.25%

[09:05] a day time you'll have confirmed from your journal data. trading with a prop firm, you can now scale up to $500,000. you can now scale up to $500,000. Now, do the math. 3 to 8% on a 200K

[09:21] Now, do the math. 3 to 8% on a 200K accounts is 6K to $16,000 a month. On a accounts is 6K to $16,000 a month. On a 500K account, it is 15K to $40,000 a 500K account, it is 15K to $40,000 a month. And you get to keep 80 to 90% of

[09:34] that. When people now see your account and see how you're living and they cannot explain it, they say I do Yahoo.

[09:47] What the >> I'm sorry. I wasn't thinking about it. But, you know exactly where it came from. A plan followed consistently for 1 to 2 years.

[10:02] But, the question is is 1 to 2 years worth it for you? Can you wait and be consistent for 1 to 2 years to actually do this? Many people cannot. But, once you get to

[10:18] this level, there are even more ways to level up, there are even more ways to level up, including scaling your accounts even more without increasing your risk and offering your services to others.

[10:32] That is actually why I am building CopyMe, a platform that lets you connect your trading accounts and automatically copy the trades of vetted professional traders. It works somewhat like a prop firm evaluation. On the trader's side,

[10:48] firm evaluation. On the trader's side, traders only go public when they meet the criterias and are removed automatically if they fall short of the criterias at any time. Copiers control their own risk, the

[11:01] number of trades they take, and even the pair they copy from the traders. We are still in development, but the wait list is open. The link is in the description of this video. Now, make sure you're subscribed and hit

[11:15] the bell icon if you have gotten value [music] from this video. To win the iPhone 17, it is really simple. Join the trading competition that I'm organizing. The link is in the

[11:27] description. The best trader wins this iPhone 17. But, even if you don't win, you still have opportunity you still have opportunity to become a trader in CopyMe if you meet

[11:41] the criteria. Being a trader actually scale up your income if copiers copy your trades. So, see you in the competition.