. +36 pips on EURJPY 30m setup chart. Unfortunately, I was not at my PC so I could not let it run for another couple of pips
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I had my first profitable trade with the Hector system
Attached are the charts - 30m and 5m - taken few minutes after entry.
I had my first profitable trade with the Hector system
Attached are the charts - 30m and 5m - taken few minutes after entry.
you nailed everything 100%. y0u also entered at "2" instead of "1".(chart attached below) Which makes sense because the RN 102.50 is in the way. You entered at 102.43 below the RN. this is how you trade hector 3sma system. You see the alignment of the trends on daily and h4? reinforcing your trades from m30? with the fib levels. That is it. look at this EUR/JPY TRADE...and trade everything that looks just like it. If nothing looks like it(e.g eur/cad trade, dont trade it.) Make sure the h4 and d1 are in one direction, with the sma pointing...
.Hi dddd,
thank you for commenting. I highleted the BPC in the 1h EURCAD chart by the letters B, P and C in the original post. Please have a look. Wasn't this a valid BPC formation?
On the other hand, I agree with you that the 4h TF just started to trend. Moreover, Hector does not recommend trading the first swing.
However, as far as I can remember, Hector does not mention that 3SMA traders should trade any TF only when higher TFs are trending as well. He just want traders to make sure that there are no important S/R levels on higher TFs in the way of a trade. But it does not matter if higher TFs are trending or not. Or have I overlooked something? Nevertheless, it makes sense to trade a particular TF mainly then when higher TFs are trending as well..
Thank you one more time for commenting.
Interesting is that your 5m eurjpy chart differs from mine. Maybe it's due to time shift between our locations. The BPC on your chart is not as clean as on my. I probably would not have taken the trade if I had seen your chart
I really liked the eurjpy trade, stored the pictures, made logs into my excel file about it. But I am wondering how many of such excellent setups can one find, let's say, during a month? 2-3? More? What is your experience, dddd? How many clean setups like the eurjpy can you find monthly on average? As I am a total newbie this is crucial to me
That lesson was in the very first video hector posted on youtube:the usd/chf short trade.
1st thing: he established the downtrend on the daily.
2nd thing: he established the downtrend on the h4(the setup chart).
3rd thing:he used the 1hr as the trigger chart.
http://www.youtube.com/watch?v=4IPr5YtLVTg&feature=channel_video_title
And you claimed that you've watched those videos.....
Rule of the thump: make sure the next higher time supports your trade on the setup time...
. Although he mentioned it in his video, I couldn't find any reference about the importance of spotting trends in higher TFs in his course. On the other hand, I agree that it makes sense and it can strenghten the setup a lot. (.why wont you take the trade?
Depending on the month and the number of pairs/crosses you are trading. I trade no less than 28. Funny, that you should mention 2-3. You get around 2-3 per week, actually. Sometimes 4.
I haven't seen all videos. This one I have overlooked. It takes some time to go through all of them
However, if this is that important, I cannot understand why he did not mention tin his course he crucial fact that we also have to look for trends in higher than setup time frames
I would have drawn the trendline differently. The aspect number 1 I woulde use for my trendline.
Not bad. If I spot 4 such setups a week, two of them could be winners, two of them loosers as there is probably no 100% accurate trading method. This could add up to a nice sum... If possible please post your current setups. We can learn a lot from you.
Thanks for your time, dddd.
Cheers,
mtrader
eur/usd daily/h4/h1.
one problem. serious, major economic news in gbp and eur. but it is a valid setup.
.Why is it a valid setup? On 4h TF there are 2 crossovers, price touched the 100 SMA. Let's admit there is a downtrend on daily. In cotrast, 1h TF is going up.
Could you please explain why you consider this a valid setup?
As for Hector, you were right. He mentioned that one has to search for trends also on higher TFs. It was chapter 1.3 in his old course. I reviewed it yesterday
I am currently watching USDCAD h4, EURJPY daily and USDJPY daily. CHF crosses looked also interesting but there were important S/R levels on higher TFs.
mtrader
I had my first profitable trade with the Hector system
Attached are the charts - 30m and 5m - taken few minutes after entry.
i understand your concern.
but from the chart you just posted i have a few questions for you:
is that trade a LOB? Because LOB changes everything. What is a LOB?
is that a trade occurring around news time? because you cant take a trade at least 2 hours before news and 1 hours after news. So that automatically renders possible trendlines irrelevant.
that looks more like a hector rectangular breakout than a hector swinging trade.
that said: the classic way hector draws his trendlines is to move it to the right as much as possible so as to have a clean line; with the more touches the better. Preferably 3 touches. Go to the search page of this thread and search for "drawing trendlines". you will see some good commentaries by nightmoves.
. Would you also consider the red trendlines as valid trendlines?HERE are some good comments on trendlines for hector trades:.
from nightmoves:
http://www.forexfactory.com/showthre...71#post3492671
http://www.forexfactory.com/showthre...18#post3510018
http://www.forexfactory.com/showthre...82#post3510082
http://www.forexfactory.com/showthre...22#post3510222
(also watch the hector video in this post, you can see the three touches). You can see in the video how hector keeps moving the inner trendlines to the right more and...
