Perseverance and adaptability are crucial in trading, especially when facing challenges and learning from mistakes.
Balancing trading with other commitments, such as medical school, requires a clear mind and encouragement from mentors.
Understanding major news events and aligning fundamentals with technical analysis can increase trading success.
Deep dives
Trading Style and Challenges
Elvis shares his experience in trading, mentioning that he prefers swing trading and scalping. He emphasizes the importance of perseverance in the face of challenges and the need to adapt and learn from mistakes.
Relationship between Trading and Medical School
Elvis discusses the challenges of balancing trading with medical school. He shares his personal experience of feeling demotivated and losing focus due to the demands of both endeavors. He emphasizes the importance of having a clear mind and finding encouragement from mentors.
Fundamental Trading Approach
Elvis explains his approach to fundamental trading, highlighting the significance of understanding major news events and their impact on currency pairs. He emphasizes the need to find alignment between fundamentals and technical analysis to increase the likelihood of success.
Account Growth and Prop Firms
Elvis reflects on his account growth journey, acknowledging both losses and profits. He advises traders to understand their risk appetite and choose whether to be conservative or aggressive. He highlights the importance of effective risk and money management and recommends choosing a broker with good customer service and fair commissions.
Mindset and Advice
Elvis emphasizes the importance of mindset and encourages traders to focus on finding solutions rather than dwelling on problems. He shares his own experiences of giving up on certain ventures and pursuing what is truly fulfilling. He stresses the importance of perseverance and not being afraid to give up on pursuits that are not meant for oneself.
