In 1952, Ed Wood is struggling to enter the film industry. Upon hearing of an announcement in "Variety" magazine that producer George Weiss is trying to purchase Christine Jorgensen's life story, Ed meets with Weiss to direct a now fictionalized film titled "I Changed My Sex!" but isn't hired. Ed then meets his longtime idol, horror film actor Bela Lugosi, with whom he becomes friends. Ed persuades Weiss to let him direct the film by convincing him that having a star in the film would sell tickets, and they could sign Lugosi for a low price. During production for "Glen or Glenda", Ed and Weiss argue over the film's title and subject matter but Weiss eventually plays by Ed's rules, albeit reluctantly. Filming gets going, with the story now about a transvestite. Ed takes to film production with an unusual approach; shooting only one take per scene, giving actors very little direction and using stock footage to fill in gaps. The movie is released to critical and commercial failure, preventing Ed from getting work at Weiss' Screen Classics or making a partnership with Warner Bros. executive Feldman. On the advice of his girlfriend, Dolores Fuller, Ed decides to finance his next film independently. Ed is unsuccessful in finding money for "Bride of the Atom", but is introduced to a psychic called The Amazing Criswell who gives him advice on how to sell himself better. During this time, Ed has discovered that Lugosi has developed a morphine addiction.