Following

A struggling, unemployed writer, known as The Young Man, begins following strangers around the streets of London in search of inspiration for his first novel. He imposes strict rules about who to follow and for how long, but those rules falter when he spots a well-groomed man in a dark suit.

The man in the suit notices he is being followed and confronts him, introducing himself as Cobb. He explains that he is a serial burglar and invites the Young Man to accompany him on robberies. Cobb argues that his true passion is using the shock of robbery to cause victims to reexamine their lives.

Thrilled by Cobb's lifestyle, the Young Man agrees to learn the trade and tag along on burglaries. Cobb guides him and gradually loosens his initial rules, showing him the thrill of the crime.

Under Cobb's direction the Young Man alters his appearance and adopts the name Daniel Lloyd. He begins pursuing a blonde woman whose flat they had burgled and starts a relationship with her.

The Blonde is the girlfriend of a small-time gangster known as the Bald Guy, who is blackmailing her with incriminating photos. This creates a volatile situation as they plan further burglaries.

On Cobb's instruction, the Young Man breaks into the Bald Guy's flat and reaches his safe. He is confronted by a guard, bludgeons him with a claw hammer, and escapes with money and photos. He later discovers the photos are innocuous modeling shots.

Back at his own flat, the Young Man finds that the incriminating photos are harmless modeling shots, undermining the Bald Guy's blackmail plot. He begins to sense Cobb's manipulation and irony.

The Young Man confronts the Blonde about their partnership with Cobb and the manipulation of his actions. She explains that Cobb had recently found a murdered woman's body during a burglary and is using the idea of multiple burglars to deflect suspicion.

Feeling used and under suspicion, the Young Man resolves to surrender to the police and end the cycle of manipulation. He hopes to salvage some semblance of his life.

The Blonde reports the turn of events to Cobb, who then finally reveals that he actually works for the Bald Guy. The murder plot is part of a larger plan to entangle both the Blonde and the Young Man.

Cobb bludgeons the Blonde to death with the same claw hammer and leaves the scene. The murder is framed to appear connected to the Young Man.

Police investigate the Young Man's story and find the Blonde murdered with the hammer bearing his fingerprints. The Young Man is implicated in the crime while Cobb disappears into the crowd.