Take a set of armor - ANY ARMOR WILL DO - Armor rating does NOT matter (but tatoos are always prefered). It helps if your head peice is +1 to smiting, but this does not matter too much.
Major Runes ALWAYS cost 100g. Buy 1 of each monk attribute and 1 more of any atribute you like (except vigor) and put them on each of your 5 armor peices.
With 5 major runes (all monk runes - no vigor) you get your base health down to 230 AND you boost all your monk atts by 2.
Go on the Cities of Ascelon quest for the -50 offhand, and voila you have 180 health.
Get 3 encrusted loadstones (I could be wrong on the collector item) and pick up a Firey Flame Spitter south of Serenity Temple.
Go to Lions Arch and say "WTB Axe Grip of Enchanting 10-17%" and get someone to sell you, say a 15% one for 1-2K.
Optional: Next collect some Charr Carvings and go outside of Nolani and pick up the collectors fire wand for +5 energy, it will be useful in the future and is always nice when you're in a pinch for energy.
You now have a monk with:
"Halves Spell Recharge (chance: 10%)"
"Enchantments last 15% longer"
180 Health
+2 Devine Favor, Healing, Protection
+3 Smiting
You will need the "core 55 skillset" to be effective, even from the beginning.
It is highly advised that you get the following skills:
Balthazar's Spirit, Essence Bond, Mending, Devine Boon (to offset your high health), Blessed Aura, Protective Spirit, Blessed Signet, Healing Breeze,
You will need to cap Shield of Judgement in Mineral Springs.
Once you have all of that done, you will have spent approximatly 2-3K and have a pretty nice farming setup for the money.
Probably the easiest thing to do at this point is farm minotaurs at Elona for some cash and get used to the monk farming build. You won't need to worry about interrupts or knockdowns here.
With what you have, this build should work nicely for the minotaurs:
Healing Breeze
Protective Spirit
Shield of Judgement
Blessed Signet
Devine Boon
Mending
Balthazar's Spirit
Blessed Aura
You will have 0 energy regen, but every time you take damage you will gain 1 energy and when you use Blessed Signet you will gain 12 energy.
Throw up all of your enchantments (the last 4 in the list) and use Blessed Signet until you have full energy.
Get close (but not within agro) to some minotaurs and throw up Protective Spirit and Healing Breeze. Agro about 4 or 5 at first to get the hang of things.
Once they are all attacking you, use Shield of Judgement and watch them take damage and get knocked down.
Make sure Healing Breeze and Protective Spirit are up at all times. SoJ should be on you as often as possible, if you are being attacked.
Use Blessed Signet religiously if energy seems to be a problem.
At any point if you are in a pinch for energy, switch to the Nolani wand for a +5 energy boost.
If you are losing health too fast, cast Protective Spirit or Healing Breeze for a nice Devine favor/boon boost.
After you get the hang of minotaurs, move on to Griffons and Hydras.
Once you have enough money saved up, buy Droknar's Tatoos and Superior Monk Runes!
Questions and comments welcomed
