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  • #2,601
  • Jan 27, 2010 3:40am Jan 27, 2010 3:40am
Hello All,
I haven't yet bought Hector's course - still busy getting set up to view the markets in the most efficient way possible, and reading and digesting the education in this thread. Thanks to you all.
I note maforexcity is still too busy to post their strategy on this thread or their own.
Thanks for the wisdom re ECh and AN, Custos and Entropy Lad.
There has been mention that Hector views the best time to trade as roughly 0600 - 1200 GMT. I note your comment, Custos, re BPCs turning back on you in a GMT afternoon. Night Moves lives at GMT -6 but he seems to do very nicely without starting to trade at what, for him, would be midnight. Any comments please?
I am frustrated that I missed the AU trade just after 0700 GMT this morning.
Kan
Thanks for your help, warmth and straight talking Heather.
  • #2,602
  • Jan 27, 2010 3:44am Jan 27, 2010 3:44am
Quoting Kanderpro
Hello All,
I haven't yet bought Hector's course - still busy getting set up to view the markets in the most efficient way possible, and reading and digesting the education in this thread....
Where do I find this course and how much is it?
  • #2,603
  • Jan 27, 2010 3:49am Jan 27, 2010 3:49am
Quoting Scratch99
Where do I find this course and how much is it?
Hi Scratch 99,
Night Moves posted a link to it somewhere in the first 50 pages of this thread. Sorry I can't be more precise. I hope someone else can. $200 ish.
Kan
Thanks for your help, warmth and straight talking Heather.
  • #2,604
  • Jan 27, 2010 3:50am Jan 27, 2010 3:50am
Quoting Kanderpro
Hello All,
I haven't yet bought Hector's course - still busy getting set up to view the markets in the most efficient way possible, and reading and digesting the education in this thread....
I can only tell you that getting frustrated is not GOOD ... many good trades to come in the next days and weeks.
It's my price or no price at all!
  • #2,605
  • Jan 27, 2010 3:50am Jan 27, 2010 3:50am
Quoting Kanderpro
Hi Scratch 99,
Night Moves posted a link to it somewhere in the first 50 pages of this thread. Sorry I can't be more precise. I hope someone else can. $200 ish.
Kan
www.hectortrader.com
Thanks for your help, warmth and straight talking Heather.
  • #2,606
  • Edited 4:41am Jan 27, 2010 4:08am | Edited 4:41am
Quoting Scratch99
Where do I find this course and how much is it?
plse send me an email and I will forward discounted link to you

ok I see we can post links to Hectors site here:
http://www.hectortrader.com/coursein...1potuitQiM.s7P
$97
  • #2,607
  • Jan 27, 2010 4:10am Jan 27, 2010 4:10am
Quoting 4extool
I can only tell you that getting frustrated is not GOOD ... many good trades to come in the next days and weeks.
Well said, 4extool. Thanks.
Thanks for your help, warmth and straight talking Heather.
  • #2,608
  • Jan 27, 2010 4:32am Jan 27, 2010 4:32am
Hi NightMoves and the rest of the gang here.

Firstly I'd like to say good work to you on starting this thread to talk about a very straightforward and profitable method. I've been using Hectors method for over 2½ years and have found it to be a very simple and effective tool. I've since developed a number of other strategies which I use on a daily basis, but this method has one of the best R:R ratios when it comes to setups.

My favoured timeframe when using this method is the 4H charts. In my experience, the larger timeframe a setup occurs on, the more people are watching it. That means when it breaks, it does so with momentum. I don't like trades that tend to faff around and not make their mind up what they are doing. If a setup is top notch with plenty of levels of confluence, then it will reach the target pretty quickly. The 4H timeframe also tends to suit my working schedule, a quick check of the charts at the top of every hour tells me whats going on.

We had a perfect example of an A+ trade this morning on AUDUSD. The previous wedge that had formed on the 4H was broken yesterday morning and then was retested to the pip early this morning (If we'd got some nice PA (price action) at that level I'd have shorted then). Price then moved down to our trend line, gave us a nice BPC and obvious target levels. The other factor I liked with this trade, was that we had the backing of a BIG round number behind us, the 0.9000 level. On triggering the trade we broke that level again which added as fuel to the momentum. If you didn't exit the trade near the bottom of the swing, price made a pin bar at the bottom, which was an indication that a reversal might have been coming. You could have covered your position on a break higher of this bar.

If I only get 2 of these setups a month I'm happy. As others have said in this thread and elsewhere: Trading is about minimising your losses. The easiest way to do this is by taking only the best looking setups.

Best
Chris
Attached Image(s) (click to enlarge)
Click to Enlarge Name: audusd 1h 270110.gif Size: 18 KB
Click to Enlarge Name: audusd 15 270110.gif Size: 18 KB
  • #2,609
  • Jan 27, 2010 4:34am Jan 27, 2010 4:34am
I closed my trade 40+ and I'm happy with it.

I wanna do some movie watching and ps3 gaming. Can't do that with an open trade i think (not really relaxed anyway.)

My rules say to only take 1 trade (win or lose) a day, so hast tomorrow.

good luck to you all
It's my price or no price at all!
  • #2,610
  • Jan 27, 2010 5:52am Jan 27, 2010 5:52am
Quoting Paulette
plse send me an email and I will forward discounted link to you

ok I see we can post links to Hectors site here:

$97
Please read the posting rules at FF. Advising or selling products/courses etc... Could get you banned.
  • #2,611
  • Jan 27, 2010 6:12am Jan 27, 2010 6:12am
Quoting Kanderpro
Hello All,
I haven't yet bought Hector's course - still busy getting set up to view the markets in the most efficient way possible, and reading and digesting the education in this thread....
I never said that I trade only the london session. What I meant is that I only trade 3 to 4 hours into a session. Which means, I will trade london 3-4 hours, then ny 3-4 hours and then asian 3-4 hours.
If a setup happens at london lunchtime and ny didn't open yet, I would not take it, however if it happens at the start of ny, then it's good.
But I really gotta say, that in my experience asian and london give me most of the moves. The thing is, if the price already moved big in asian or london session, then there is nothing left for america, except retracements.

Don't be frustrated about not catching a move. Thing is you should be happy that you didn't get into a crappy trade, that thing might have as well turned on you. aud/usd is in my opinion very good during ny and australian session for the obvious reason that the traders and institutions care more about those currencies during their own session. But other than being in the wrong session, it was a very good setup.
  • #2,612
  • Jan 27, 2010 6:15am Jan 27, 2010 6:15am
Quoting Chris P
Hi NightMoves and the rest of the gang here.

Firstly I'd like to say good work to you on starting this thread to talk about a very straightforward and profitable method. I've been using Hectors method for over 2½ years and have found it to be a very simple and effective tool. I've since developed a number of other strategies which I use on a daily basis, but this method has one of the best R:R ratios when it comes to setups.

My favoured timeframe when using this method is the 4H charts. In my experience, the larger timeframe a setup occurs on,...
well done chris, overall a good trade!
For me it was a touch too aggressive, but that's just me. US FOMC statement coming out today, and aud/usd should have triggered in the asian session in my opinion, but other than that, was a really good trade.

best regards
  • #2,613
  • Jan 27, 2010 6:20am Jan 27, 2010 6:20am
Quoting Custos
I never said that I trade only the london session.
Thanks for the clarification, Custos. I would never wish to misrepresent you, so apologies for the inexact reference.
Kan
Thanks for your help, warmth and straight talking Heather.
  • #2,614
  • Jan 27, 2010 6:26am Jan 27, 2010 6:26am
Quoting Kanderpro
Thanks for the clarification, Custos. I would never wish to misrepresent you, so apologies for the inexact reference.
Kan
no worries , I think I didn't make myself clear enough the first time, that's why please don't hesitate to ask a question again or for more details!
  • #2,615
  • Jan 27, 2010 6:29am Jan 27, 2010 6:29am
Quoting Custos
well done chris, overall a good trade!
For me it was a touch too aggressive, but that's just me. US FOMC statement coming out today, and aud/usd should have triggered in the asian session in my opinion, but other than that, was a really good trade.

best regards
I agree Custos. Normally I wouldn't be taking any positions when interest rate announcements are due, same with NFP etc. However, the fact that there was so much confluence going on made this a no brainer for me. It was also very early in the trading day, at least 12 hours away from the rate decision.

I'll be enjoying watching from the sidelines for the rest of the day

Best,
Chris
  • #2,616
  • Jan 27, 2010 6:46am Jan 27, 2010 6:46am
Possible setup forming for tomorrow...

EURNZD swinging on the daily.

Confluence factors:
38.2% fib from large move down
61.8% fib from recent swing
2.0000 BIG round number
Area between 30 and 50 sma

4H chart:
1-2-3 formation
Break of retracement trendline
Wait for confirmation of BPC...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurnzd d 270110.gif Size: 34 KB
Click to Enlarge Name: eurnzd 4h 270110.gif Size: 28 KB
  • #2,617
  • Jan 27, 2010 7:04am Jan 27, 2010 7:04am
Quoting Chris P
Possible setup forming for tomorrow...

EURNZD swinging on the daily.

Confluence factors:
38.2% fib from large move down
61.8% fib from recent swing
2.0000 BIG round number
Area between 30 and 50 sma

4H chart:
1-2-3 formation
Break of retracement trendline
Wait for confirmation of BPC...
looks good to me
  • #2,618
  • Jan 27, 2010 7:17am Jan 27, 2010 7:17am
Hi, attached are two charts, the gbp/jpy h1 and m15.
This is a typical touch trade. By the way, if you are getting sick of my touch trades, just tell me, then I only post hector style trades.

The h1 shows more or less the general S/R level I want a bounce off. Now a zoom into the m15 to find the exact point of my bounce. And here we have such big confluence 50 fib very close, a round number, couldn't get any better than that, entry would have been at 145.5, stop at 145.62. I know, incredibly small stop but, that's a hit or miss kind of trade. First target already hit at 145.25, stop at B/E. now waiting to hit my other 2 targets: 144.05 and 142.60
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpjpy h1 27.1.2010.gif Size: 66 KB
Click to Enlarge Name: gbpjpy m15 27.1.2010.gif Size: 63 KB
  • #2,619
  • Jan 27, 2010 7:45am Jan 27, 2010 7:45am
hi, e/u 4h format a down triangle, wait for bpc on 1h
  • #2,620
  • Jan 27, 2010 7:47am Jan 27, 2010 7:47am
Nice trade Custos!

Great minds

Again, I don't want to clutter this thread with other strategies, but will post this one setup as I saw it. (for lower timeframe stuff see here: http://www.forexfactory.com/showthread.php?t=163972)

I was watching the same area, but with a trendline confluence as well. Once we've got an area to watch, I'm not happy with just taking a touch trade. I need more tip offs to tell me that price is going where I anticipate, that's just my approach. In this case there a lovely 5min pin bar, with divergence which was the trigger for the entry. The hourly bar has finished as a pin bar too, which is good news for the continuation of this move. Just watching the round 145 level now to see what sort of reaction we get there. TP there would return a 3:1 profit:loss
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpjpy 1h 270110.gif Size: 17 KB
Click to Enlarge Name: gbpjpy 5min 270110.gif Size: 13 KB
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