Dedicated to Freedom and for Reaching Your Full Trading Potential!
None of the contents within this page should be considered professional advice.
It is merely for entertainment purposes only.
I help Traders reach their full trading potential.
The aim is to be the bridge between who Traders currently are and who they want to become.
After studying the ICT YouTube Mentorship relentlessly, you should be able to plan, enter and manage a trade.
“Ends” is a YouTube series that provides a more practical approach to how trading can impact your real-life situation.
This series will give you a practical approach to trading with Live Funds.
The Problem: Ends need to be met
Making ends meet can be a difficult task, especially when your income is the only working resource you have to rely on.
Every month, you have bills and expenses to pay, and it can be a struggle to make sure that everything is covered.
But, by understanding your expenses and creating a budget, you can make sure that you are living within your means and not putting unnecessary stress on yourself.
One of the biggest expenses that we all face is living expenses.
These are the expenses that are necessary for survival, such as rent, food, and transportation.
Unfortunately, many times these expenses are built on bad decision-making, such as overspending on unnecessary items or choosing an expensive apartment to live in.
Another type of expense that people often struggle with is lifestyle expenses.
These are expenses that are not necessary for survival, such as expensive clothes, luxury vacations, and high-end gadgets.
Many people tend to live above their income, even though they cannot maintain it.
This is the number one reason why people struggle to make ends meet.
When it comes to making ends meet, it’s important to understand what your ends are.
This means figuring out what your life costs each month and determining a monthly budget.
By writing down every expense that needs to be met by the end of the month and sorting them into “required expenses” and “excess expenses,” you can gain a better understanding of where your money is going and make changes where necessary.
It’s also important to note that excess expenses can cause unnecessary stress, which can impact your decision-making in other areas of your life, such as trading.
Poor decision-making can lead to entering bad trades that you regret seconds later.
To make sure that you are living within your means and not putting unnecessary stress on yourself, it’s important to categorize each expense as a “need/must” or “excess and trim it.”
Create small achievable goals:
Small, achievable goals is key to success as an aspiring trader.
Instead of focusing on unrealistic promises of becoming a millionaire overnight, set your sights on making progress in baby steps.
A great place to start is by paying off your least demanding expenses.
By setting a specific goal, such as paying off $3000 worth of rent, utilities and food by September 2022, and breaking it down into manageable weekly increments of $750, you can slowly but surely build positive reference experiences for a promising trading career.
By staying focused and consistent in the same efforts used, you’ll be well on your way for a full-time professional trader.
As traders, we all dream of financial freedom and the ability to trade for a living.
However, the journey to achieving this goal can often feel overwhelming and unattainable.
The key to success is to break down the process into small, achievable steps.
By setting incremental goals, we can gradually build towards our ultimate objective while keeping our motivation and focus intact.
The first step in this process is to consistently meet a single end, such as paying food expenses.
This may seem like a small accomplishment, but it is a critical foundation for success.
Once you are able to meet these expenses consistently, you can move on to the next step, which is to strive for meeting every end on the list. This includes expenses such as car payments, credit card bills, and other debts.
After consistently meeting every end on the list, the next step is to strive for doubling that sum in profits.
This means that instead of just meeting your expenses, you are now able to generate enough profits to double your income.
This is a significant accomplishment, and it’s a sign that you are on the right track.
The final step is to strive towards building a trading account with $100,000.
This is the point at which you can realistically trade for a living.
This may seem like an ambitious goal, but by following the incremental steps outlined above, you will be well on your way to achieving it.
It’s important to remember that this is a long-term process and that setbacks and failures are part of the journey.
Keep your focus, stay consistent, and remember to celebrate your small wins along the way.
With time and dedication, you’ll be trading for a living before you know it.
As an aspiring trader, John set a small, achievable goal for himself to pay off his student loans.
Instead of focusing on unrealistic promises of becoming a millionaire overnight, he set his sights on making progress in baby steps.
He started by paying off his least demanding expenses first, such as his $200 monthly car payment.
Then with more time and experience and confidence in the markets, progressed onto tackling the “student loans end”.
By setting a specific goal, such as paying off $10,000 worth of student loans by December 2023, and breaking it down into manageable monthly increments of $500, he can slowly but surely make progress towards meeting his goal.
Once John achieved his goal to pay off his student loans, he gained the confidence to trade with larger funds and strive for larger goals.
By staying focused and consistent in his efforts, John is well on his way to achieving professional trader status.
Consequences of Not Following a Trading Process
If we FAIL to follow this process, it can lead to serious consequences.
One of the most significant risks is impulsive trading and poor decision-making skills. Not knowing your monthly budget and expenses leads to a lack of clarity in your profit-taking objectives.
This can result in not knowing how to “pay yourself” and feeling like all profits are never enough. As a result, you may find yourself chasing trades impulsively for the next win, just to “feel” like you are doing things correctly.
Real-life pressures can also play a significant role in this problem.
These pressures can force you to make decisions that are not rational.
For example, you may find yourself:
- Not following your trading model
- Over-leveraging your trades
- Not following your rules
- Not holding for profit-taking objectives
- Impulsively entering trades
By understanding the potential consequences of not following a trading process, traders can take steps to prevent falling into this trap and stay on track to achieving financial freedom.”
The Solution: Secure an additional income source
The solution to make “Ends meet” is with an additional income stream. ICT created the YouTube 2022 Mentorship Model for this reason.
It is important to understand the different potential income streams that can be built to make a sustainable total income. These income streams include Employment Income, Investment Income, and Business Income.
Employment Income is obtained through a job and is often the main source of income when starting out as a trader. However, the ultimate goal should be to replace this income with income from trading.
Be patient when learning this skill and to keep your job until you are consistently able to double your employment income and expenses.
For example, if your monthly expenses are $3000, your goal should be to generate $6000 per month from trading.
Investment Income comes from both speculative trading accounts and tax-deferred accounts.
Speculative trading accounts are focused on giving you money that you can withdraw and spend, while tax-deferred accounts are focused on building a nest egg for retirement.
It is suggested to take a sober approach when trading speculative accounts and a more aggressive approach when trading tax-deferred accounts in order to reap the rewards of compound interest.
Business Income is another potential income stream that can be obtained by knowing how to read charts and identify opportunities in the financial markets.
This can manifest into business opportunities such as YouTube ad revenue, trade signals, affiliate programs, broker partnerships, and sponsorships.
These opportunities can provide additional income and diversify your income streams.
By understanding the different potential income streams and focusing on building them, you can create a sustainable total income as a trader.
The Plan: Determining the starting point
When it comes to trading, having the right mindset is crucial to success.
One way to ensure that you’re in the right state of mind is to have a separate account created specifically to make “ends meet.”
This means that you are not trading to grow this account exponentially, but rather solely for the purpose of covering your basic living expenses such as rent and food.
Once you can consistently cover these required ends, it will place you in a better state of mind for trading.
You will start to be more patient, more risk-averse, and make higher quality decisions.
You will also feel less pressure to force trades, which can often lead to poor decisions.
Forex Trading Model for “ends”
To keep things simple, our goal is to make $1000 a month from trading Forex. We will be using a trading equity of $25,000, and risking $250 (1%) per trade.
Our stop loss size will be 10 pips, and our take profit will be 10 pips.
We will be trading during the New York session.
Our weekly goal is to make $250 (10 pips) and our monthly goal is to make $1000 (40 pips).
We are looking to make 4 intra-day trades a month, and one A+ setup per week. By keeping things simple and focusing on our goals, we can work towards consistently covering our basic living expenses through Forex trading.
Step 1: Conditions
Step 2: Timing
Step 3: Opportunity
This model is designed to be simple and straightforward.
By limiting the number of trades and the amount of risk taken on each trade, the model helps to reduce the pressure and stress of trading.
This will ensure that you stick to your goals and you don’t risk losing the gains you have made.
The account will be reset the next month, and this will help you to stay focused on the goal of covering food expenses again.
Once the gains are met, you stop trading.
By targeting a specific weekly and monthly profit, while focusing on a specific type of trade setup and limiting the amount of trades and risk taken on each trade, this model can help you to be more patient and to make higher quality decisions.
Additionally, by resetting the account and starting fresh each month, this model ensures that the focus remains on the primary goal of covering food expenses.
The Process: Making ends meet.
This last section bridges “The Plan” with “The Process”. How to pursue the goal and over take it.
In conclusion, we’ve covered the critical aspect of gaining clarity with your income and expenses, identifying necessary “ends to be met”, and setting realistic goals that can benefit your life through trading, without getting caught up in the pursuit of material possessions.
By utilizing the knowledge and tools provided through the ICT 2022 Mentorship program, you now have the ability to identify profitable trades in the markets and apply practical, real-life strategies to your trading endeavors.
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