My name is Esteban Echevarria. Im from Uruguay, a small country in South America, Two times Winner of the Soccer WorldCup! 🙂 I live in a small city called Montevideo, and I live for my passion.. Daytrading. I have been actively involved in the financial markets since 2009, and became a full-time trader in 2012, after 3 years of losing money, testing robots, (also called expert advisor on some platforms), many different Scam Trading Rooms, ”Holy grails”, useless Indicators, and trying many different so-called Mentors, I’m sure many people reading this are familiar with this same situation.
In 2014 I started a YouTube channel (mainly in spanish, my native language), to share my trading experience and philosophy and to help other people to become better traders for FREE. That’s how everything started and evolved into what I do today, teach others how to trade using Facebook groups, trading related forums, Skype groups and in 1on1 sessions.
This is my story.
I Graduated as a Cuisine Chef from one of the most prestigious gastronomy universities in Uruguay in 2008. I loved food, cooking and trying many different dish creations, and always dreamed of the idea of having my own restaurant. But financial markets have always been my passion. In 2009 I won first place in a cooking challenge that allowed me to go to work in the USA. I participated in a program for young chefs from South America, working and living in New Orleans, Louisiana for almost a year. I was starting to live my dream, not only making some good money from my 12 hours a day job, but also learning English, (a skill I’ve always wanted to have). It took me almost 6 months to realize that working 12 hours a day inside a kitchen, (following orders, getting skin burns, etc.), was not what I wanted for my life. I was frustrated. I Loved cooking, loved good quality food, but I hated my job. Long story short I met a guy who worked with me that was starting to trade Forex and stocks. When I saw the charts, numbers, the idea of making money from home, I knew instantly what I wanted to do. So I started to intensify my search for information and learn as much as I could, so that by the time I got back to Uruguay I could start working as a Trader, (yes, lol). I had a new dream, a new passion, something new to follow.. a new light of hope.
I soon realized ”working as a trader” was just an illusion when I finally understood how hard it was. I spent a lot of money trying different things, like paying for useless courses, trading rooms, holy grail systems and much more. I ended up using most of the savings I made working as a chef. It was a valuable but frustrating lesson, but I still wanted to trade for a living, I did not want to give up. I still had the passion, I knew it was possible, I was just going down the wrong path.
I eventually started to search for a job to get more money, and start educating myself.. no more vendors.. no more mentors. Just my intuition and reading tons of books. My chef background and CV allowed me to get a job at a big multinational company called Unilever in the food and beverage sector for restaurant products. They needed a Chef with some kind of other skills to supervise a team, so I got the job.
During my tenure with Unilever I managed to stay late, every day for 2 years to figure out how to trade, how to make money, and how to think like a professional trader. I started to participate in Trading forums, groups, etc. Until 2012. At that point I started actively trading Futures, CFD’s and Forex. The next year was very good to me. I ended up breakeven, (yes BE). I was not overjoyed, but I knew I was improving, and I was making my broker happy.
It was at the end of 2013 when I added VSA, Tom Williams and Richard Wickoff principles, techniques and ideas that I started to make some money. It was not a lot but it was consistent every month, so I decided to quit my Regular Job at Unilever too.
After trading for a few years, I became more confident, but I still had a lot to learn (I still do), I continued to test and back test new trading ideas. About a year ago I added Market profile and some footprint reading techniques and that increased my earnings a little, everything counts. Everything was a piece in the puzzle. I figured out that in order to succeed, I needed to treat trading as a business. I started reading more books, attending trading webinars, and subscribing to trading newsletters. It was an excellent learning experience.
In 2014 I became interested in meditation and how the mind and emotions worked. So I began to attend meditation and relaxation courses, and learned about binaural – isotronic frequencies, visualization, music therapy, etc. Now I teach these techniques as well. I try to apply some of these techniques to my everyday trading routines. I designed a 5 minute meditation specifically for trading and that I guide every day in the room for those interested. As Day traders the most important advice that I can give you is: Invest in yourself as much as you can, learn how to deal with your emotions and impulses, find your center, find your inner peace, and connect to what I call “The source”. It should help everything in your life to start working better.. including trading.
I have so much passion about trading that I started a YouTube channel to share some of my knowledge. I also created this website and made public and free the content for a couple of years. I finally decided to open a live trading room to continue to share my knowledge and techniques with everybody that joins us. For me having a Live trading room is a very efficient way of teaching, since I am already looking at the screens 4 hours a day. I felt I had to add it to explain about my trades. I realized at the same time I improve myself as well, (yes we learn more as we teach). I figured why not make a little bit of extra money to re-invest in my trading account. I don’t have a huge account, I have to take most of my profits out every month to cover for my living expenses. I have a nice car, a huge house and a family, all of which costs a lot of money. I have no other source of income, so my account does not increase a lot. I did not want to add more contracts to increase the risk to an unacceptable level psychologically, and the Trading Room provides that. I’ve also made good friends along the way, one of them moderates the room with me and calls spectacular trades I could never see. I have no secrets, I believe in the power of giving, and believe in it. Maybe that’s one of the reasons I have so much to be grateful for.
Since its inception, MVDtrading has provided day trading education to many traders with diverse backgrounds. From novice to full-time traders, and many different countries.
The simple truth about successful trading: It’s work. My best advice to novice traders? DON’T GIVE UP! There will be a lot of bumps along your journey, but if you are committed and determined, you can succeed!
90% of retail traders lose money in the stock/forex/futures markets. Because they give up too quickly! Success in trading requires long-term commitment, determination and discipline. Unfortunately, many people concentrate on short-term performance instead of investing in their education and building long-term goals. New traders expect to make money with a new strategy after a couple months, which is usually not realistic, and quit in frustration.
Over the years, I developed some simple rules that helped me to become a successful trader:
- Set your performance goals yearly, not months or weeks. Try to look beyond you last few trades.
- When following someone, try to understand what they are doing. If you don’t understand the rationale and the risks of the trade, don’t take it.
- Position sizing is the key. With proper position sizing, even few consecutive losers will have little impact on your account.
- Paper trade first. It takes time to get used to new strategies. When you are ready to invest real money, keep it small, and increase your allocations gradually.
- Don’t expect to become financially independent right away. It is unrealistic to expect a $2,000 account to generate consistent income to replace your regular job.
- Focus on following your trading plan not it’s short-term results. Robust strategies are profitable in the long-term.
- Don’t give up! You have to have patience, discipline, and perseverance to succeed as a trader.