Before you doubt the legitimacy of the title, note that thousands upon thousands of traders before you have replaced their 9-5 incomes with trading and some of whom have gone on to produce massive wealth with full time trading being their primary source of income.
It may sound like a pipe dream if you’re new to trading or you’ve been at it for a period of time but have yet to experience breakthroughs to the point where you are producing consistent returns month over month (however small).
Please note though, here at Phantom Trading alone we’ve mentored 1000’s of traders, many of whom have gone on to not only replace their 9-5 incomes, but have far surpassed what they were making at their day jobs while also now enjoying the time freedom that comes with working from home and trading on a schedule of their design.
In this article, we’ll break down how those traders have done it, and what the process looks like as you learn to trade, become skilled at it, and go on to start generating returns that not only match, but surpass your day job income. If you’re someone who’s not particularly interested in sticking out your current career until retirement and you see yourself doing more, earning more and having more freedom available, this article is for you! Read on!
Most Traders Over Complicate The Process
Here at Phantom Trading, we harp on the idea that everything you do, whether it’s trading or not, needs to be simplified as much as possible to keep things clear in your mind. Oftentimes people are led to believe that dreams and realities are outside of their reach because those who see success and join the top 1% are gifted with something that they do not have. The truth is, those that see results in whatever field, trading alike, they pick on path and they see it through to completion. What holds success back from most people is that they try something for a few weeks, a few months, in some cases a year or two, and then they give up when they aren’t seeing the results they see flashed on social media platforms like instagram or youtube. Reality check, most things require more time for mastery.
If your goal is to replace your 9-5 income with trading, you need to select one mentor, one trading strategy, one community, and use the information provided until you hit your goals. Hopping from one money making strategy to the next every 6-12 months is only going to hurt you and leave you feeling confused and burnt out.
Remember that it takes years in most cases to complete a degree, get into a job and climb the ranks, become great at a sport or learn to play an instrument well enough that you can actually make out the song being played. Great things take time and trading is no different. The sooner you can wrap your head around this reality, the better off you’ll be and the greater your chances of achieving success over those around you.
On the subject of simplification, note down how much you currently make per month at your 9-5 job, and once done, you’ve got your target for trading earnings that you must reach for you to be in a position to consider going full-time.
How To Match And Surpass Your 9-5 Income With Trading
Now that you’ve got your monthly income jotted down, let’s assume you earn about $4000 per month gross income. That equates to roughly what the average earner in the USA earns per month. With trading, the fastest way to match that income is to learn the skill and be able to produce a % return month over month on funded capital. There are prop firms available these days to talented traders that allow you to get access to 10k, 50k, 100k, 400k, 1m+ in capital simply by proving through a series of challenges and verifications that you are able to produce such returns consistently and reliably. The math is quite straightforward. When you’re working with a prop firm such as FTMO for example, you’ll be paying a small fee up front to start your funding challenge, and then when you acquire the funds you will pay a commission split of about 80% or 90% to you and 20% or 10% to them to trade those funds.
How this looks:
10k account @ 10% returns per month = 1k per month earned
50k account @ 10% returns per month = 5k per month earned
100k account @ 10% returns per month = 10k per month earned
400k account @ 10% returns per month = 40k per month earned
1m account @ 10% returns per month = 100k per month earned
The numbers above can be interchanged as well. Some months you may perform better and earn 15%. Some months you may perform worse and do 5%. If you can trade the markets consistently, profitably, you’ll be paid. Simple as that.
While it’s not easy to become a consistently profitable trader, the process is simple. It’s a matter of learning from someone who’s already walked the path and gets proven results and doing as they do until you’re at the same level. We’ve had students here at Phantom report 5 and 6 figure profit months and receive large payouts over and above $50k in one month. Some of our students are trading high 6 figure capital sums on their funded capital alone (not including personal capital accounts that they have linked) and this is all within about the last 2 years since we’ve been open as a trading community. Surely we’ll see many more success stories like this as well as many that are much larger and more impressive as time goes on.
You can see how through acquiring funded capital and knowing how to trade it well can generate over and above the average annual income. One of the best things about trading is the infinite leverage that you have available to you. There is no cap to how much you earn. It simply comes down to your ability to trade and your ability to acquire more capital and multiply it. The better you become, the more fun it becomes.
All that remains is that you hone your skill to the point that you’re operating at the bottom end of the above example where you’re trading 6 and 7 figure capital sums and consistently producing positive returns each month. The longer you keep at the game, the better you become and the more you earn. Most of us can’t say that about our 9-5 jobs. There is no cap on how much we can earn, how far we can go, the time freedom available to us. This is why we transitioned to full time trading and why so many of our students have done the same. Are you going to be next?
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FX Trader & Analyst
Writer & Editor
Rob is a funded trader from Toronto, Canada, and has been trading currencies, commodities, stocks, and cryptocurrencies for over 7 years. Outside of trading he enjoys making music, boxing, and riding his motorcycle.