Most traders lose their money trying to multiply their capital. There are thousands of techniques to "predict" price behavior, and novice traders don't know where to start or how to choose the "best" strategy. In most cases, the result is the same, no matter their approach. Is there a strategy that works, and it's just a matter of time to find it? Do all strategies work, and the problem lies in the trader's psychology? Do successful traders even exist?
Becoming a professional trader requires balancing emotional management and a trading model that allows for consistent profits, turning trading into a profitable business. Over the past 15 years, I have had the wonderful opportunity to train thousands of traders, and it has been a rewarding experience. I can say that most of them have succeeded or at least gained a realistic understanding of the business.
Building a trader from scratch or poor habits is a challenge. Every detail I can instill in my clients' minds to help them move forward is crucial because the sum of all these details leads them to success.
In this video, we explore combining the MACD with Elliott Wave theory to increase objectivity when applying the rules and guidelines. I invite you to watch the video and leave your comments.
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Editors’ Picks
AUD/USD stays pressured near 0.6500 as Trump tariffs threat outweighs upbeat data
AUD/USD stays under pressure near 0.6500 in Asian trading on Monday. The pair remains weighed down by a flight to safety in the US Dollar amid US President-elect Trump's fresh tariffs threat on BRICS, which offset better-than-expected Australian Retail Sales data and Chinese Caixin Manufacturing PMI.
USD/JPY retakes 150.50 on trade war fears-led US Dollar rebound
USD/JPY stages a goodish recovery from over a one-month low to test 150.50 in Monday Asian session. The pair rebounds amid a pickup in the USD demand. Trump's tariff threats and geopolitical risks benefit the safe-haven US Dollar while the Japanese Yen struggles amid BoJ's rate hike uncertainty.
Gold turns south below $2,650 as US Dollar jumps on Trump tariffs threat
Gold price edges lower below $2,650 in the Asian session on Monday. A recovery in the US Dollar weighs on the precious metal. Persistent geopolitical tensions and Trunp's fresh tariffs threat on BRICS revives the US Dollar's haven demand, weighing on the USD-denominated bright metal.
Week ahead: Traders lock gaze on NFP after Thanksgiving holiday
Will the NFP data corroborate bets of a Fed pause? Loonie traders await employment numbers as well. Australia’s GDP to verify whether bets of May RBA cut are realistic. Euro could take directions from ECB President Lagarde.
Eurozone PMI sounds the alarm about growth once more
The composite PMI dropped from 50 to 48.1, once more stressing growth concerns for the eurozone. Hard data has actually come in better than expected recently – so ahead of the December meeting, the ECB has to figure out whether this is the PMI crying wolf or whether it should take this signal seriously. We think it’s the latter.
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