Beware of "PDFs" promising "100% win rate backtests." Global macro is not alchemy; it is statistical inference. If a PDF does not contain a chapter on drawdown analysis (how much you lose before you win), discard it.
Theory is useless without execution. The "practice" section of any global macro manual focuses on how to structure a portfolio to survive "fat tails" (Black Swans). global macro theory and practice pdf
The single biggest mistake novices make is ignoring volatility. A macro thesis can be right, but if volatility doubles, you will be stopped out. Beware of "PDFs" promising "100% win rate backtests