After you have EP, you need to find a partner to do the trick with. What will happen is, you kill your partner for 26K until you run out of EP, and then your partner gets to kill you for 26K until he runs out of EP. If you both get to 50 EP, you both should be able to get around 4 turns each. It's best to do the trick with a friend so that you don't get killed 4 times and have your partner run off on you, basically stealing 104k from you.
When it's your turn to kill your partner, it's recommended to wear as much wealth as you can. Some people risk up to 40 million gp, and I am sure some even more. This is supposed to help get you a better drop, but personally I only wear like 5 million (the gear you can see im wearing in the picture) and I've gotten 20 million gp in the past 5 days, so I don't think it matters as long as you have over 75k wealth risked.
When it's your turn to die with the 26k, the recommended amount to use is actually 26,003 gp. All you have to do is have the 26,003 gp in your inventory and get a skull. Then, just let your partner kill you to get their drops.
Many people in Runescape say that if you risk 76K, you will get a better drop. From my experience and from many players I talk to on Runescape, those people are just wasting their money. Keep the extra 50K for you to buy items with and risk 26k. Of course you will get some 100K-300K drops from your total 50 EP used, but when you get that 5 million gp + drop, you will never stop doing this method.
Remember to protect item when getting EP, risk 26,003 gp with a partner that’s a friend, and don't waste your money trying to get better drops by risking more money like 76K, as it won’t do much for you in the end. Have fun and gain the wealth from the 26K trick while it lasts!