Dec
28
As you can see, I have a new template for the blog. I hired professional designer Magnus Jepson to craft an unique custom template and this is the result! I can sincerely recommend his services to anyone who’s considering giving his/her blog a fresh swing.
I just checked the trade I opened few days ago and it seems to finding some support at the 1.9450 level, which is at +720 pips of profit from my entry. My trade management plan is to trail down my stop loss to 1.9660 should it breach through to the downside in order to secure +500 pips on this move. Quite frankly, despite the fact that it’s all still looking bearish, 500 pips is too much to give back to the market. It’s just too much, so I plan on trailing the stop down indeed.
Other than that, we’re about to tear one more yearly page on the calendar and therefore it’s time to wish our resolutions for 2008. As far as trading goes, I look forward the following events:
- I want to diversify my trading into stocks a little bit more. As of lately I have been exclusively focusing on Forex because it’s my favorite trading instrument, but I’d like to go back to stocks as a secondary way of investment
- I am going to give scalping another try. I have never been able to reach any sort of consistency while scalping so I never really gave it a serious chance. I think it might be worth a second round.
- As of lately I have been looking into automated trading, meaning trading off black-box softwares. In all fairness, I am still a bit apprehensive about the whole “trading robots” phenomena, but I am determinant to investigate further into this field
- I’d like the blog to be more interactive for you guys to become an active part of it. I am sure it’s boring to be always listening to the same fellow (me) rant about on a daily basis so I think it’s a good idea if I open the blog for anyone who’s trading my system. Do you have any idea as of how I could actually implement this idea? please feel free to drop a comment on this post with your ideas - I will read them all carefully!
What about you guys, what are your trading resolutions for 2008?
Cheers and happy new year!
-HECTOR-
28 December, 8:23 pm
My resolution is to try and give a little insight to the newbie’s on Forex Factory forum. Many of them lose their shirts beng lured in by all the scams.
I’m also going to become expert at scalping (or die trying) its a shame to waste so many great moves in forex. I also play breakouts, but for only 20 pips.
I learned the method from “Johnw” on FF in his thread
“Holy Grail” where he claims to have hit 97.5% in 240 trades with only 6 losses in a 6 month period. May want to check it out, Hector, could be fun.
Anyway, we all want to thank you for providing such
a great effort in proving that the forex can be profitable. Seems you’re the only guy thats doing it
live every day. Thanks Again to a Great Guy, Hector :)
Happy Pipping - Norm
28 December, 9:09 pm
I would also like to branch out to other markets such as stock indices and commodities. Hector, have you considered applying your method to those markets? Anyone know of a MT4 broker with data feeds for futures markets other than forex (love MT4 charts)?
Happy New Year to you Hector and everyone!
28 December, 9:12 pm
Hi hector,
i found your blog when it first started and have followed it so i have listened to many hours of Hector :)
Based on your work i have a modified trend [and range] swing system that works off the daily and is usually always hedged at risk points [how is a little secret]! i do the indicies and gold [look at THAT trend] and am trying oil but that needs a bit of work. Things like soya beans has been an amazing trend. I don’t do individual shares. Haven’t tried interest rates, vix etc.
In the current climate i hear forex people are dropping time frames as trends vanish and there is more volatility. Some are trying the exotic currencies with the massive spreads and 500+ ADR [not for me!]. With carry trade weak maybe we will have ranging markets with the commodity currencies and the safe haven like chfs with the best trends but who knows? its the trading system that counts and in my book simple and boring is good.
As for interactive maybe open a thread on a board?
Black box? Are they from the same people who sell treasure maps ? :) I get worried when people try to sell me those magic beans.
anyway lots of happy contracts in the new year to everyone.
29 December, 12:40 am
Hi guys!
Norm - that looks interesting. Do you have a link to that Forex Factory thread? I will check it out.
Sasha - I am afraid that the most you might get out of MT4 brokers is some CDFs and perhaps some indexes. But for true stocks you gotta pay for quote feeds and a charting platform (I use AmiBroker myself).
Richard - I don’t mean trading other people’s black box systems but rather develop my own. For the time being I am a little bit sceptical about it, but I think it might be worth giving it a serious try so I am going to study into the whole thing in depth over the following months. We’ll see how it goes!
Cheers for the comments guys!
-HECTOR-
29 December, 2:43 am
Hector, all the best in 2008. Your blog has been one of the best inspirations that I have come across on the net outside of FF. I will continue to follow your progress closely and try to pick up on your experience, advice and tips in 2008.
My resolution - a profitable 2008!
I am going to move away from the lower time frames and move higher. The method I have been using throughout 2007 is based on the 5min timeframe, and I have come to the conclusion that it is not consistent enough to be profitable in the long term. So with that said, 2008 will prove to be a turning point for myself.
29 December, 2:47 am
Hector - Here’s the link, the method is given on page
17 but you may want to read te introduction on page one, the rest is just a bunch of guys doubting whether
JohnW hit 97% winners. I think you can instantly tell
if its possibe. He also plays trendline breaks. I’ve tried it for a few days and the win % is very good.
Here’s the link: http://www.forexfactory.com/showthread.php?t=59460&page=17 or you can do a search for FF member “JohnW” if the link doesn’t work.
29 December, 6:11 am
Hector,
the new site looks great.
If you are serious about looking into scalping you might check out this link on another web site. If the claims are true the results are impressive. He is trying to find a longer term trading signals so perhaps and iGor can exchange ideas..
http://www.forex-tsd.com/commercial-trading-systems-indicators/9863-zorro_trading_group-fxigor.html
Thanks for such a great course..
David
29 December, 10:58 am
Hi Hector,
First of all, Thank you so much. Your website is awesome! and getting better and better…
For 2008, I will follow closer the Mkt, since I’ve changed my job, and now I have much more time to spend with my investments.
Hello Sasha,
check this link, http://www.forexfactory.com/showthread.php?t=5293 , if I am not mistake, in one of those broker I have seen some index and some stock as well.
Happy holidays to you Hector and all! I wish you and all the best 2008 ever!!
29 December, 4:04 pm
Hi Hector,
first of all, thanks for amazing course.your website more colourfull now:), seems like happier website hehe.
resolutions for 2008:
1.perhaps u can create forum for user of hectorfollower to share some ideas, answering some basic question for new hector system purchaser etc
2.perhaps we can develope some new way to enhance performance on hector system including targeting and entry, its better i think than developing somenew system, just maximized the 3sma system perhaps makes it more mechanical.
ps before i purchase the course i already test in on index , stocks and gold pretty much the same with forex i think, thats why this system awesome.
thanks and happy hollidays
29 December, 8:24 pm
Hector - How about an Idea like this…You become an introducing broker for EFX or MB Trading and anyone opening an account thru you will receive your daily setup emails at a discount depending on how much they trade. If I’m going to open an account anyways, I’d rather do it thru you. That way we get to pay back a little for all the great instruction videos you provide free of charge. Anyone else have any thoughts on this Idea?
Norm
31 December, 4:20 pm
Hi folks,
I hope you’re enjoying the Christmas break so far!
Mauro - I use other charting platform for stocks (AmiBroker). I haven’t found any MT4 feed for stocks, only for CDFs.
Juan - yes the forum idea has been brought up by other members. I have no idea how to implement such idea but I will ask around to a web-desginer much more knowledgable than me in these type of applications. Let’s see what I can come up with. I am not quite looking to tweak the 3SMA system since it’s working pretty well for me already. I am mostly looking for alternatives for those days when the current 3SMA conditions won’t find any decent setup worth trading.
David - I will look into iGor’s trading approach. I am not familiar with it so before I can cast any opinion I will need to do my own research on it. From what I have seen so far it relies heavily on indicators, doesn’t it?
Cheers and happy New Year!
-HECTOR-
31 December, 7:13 pm
hi hector
The 3sma tells the trend yes? So when the 3sma are close together and price moving back and forward across them then that means little or no trend yes? So in such a situation one can range trade. the 3sma tells you WHEN to trend trade [in order, parallel, same direction] and when to range trade [close together, flat, braiding]. As long as the sma are flat its ok to look for range trades. It works as an indicator. see daily chf/yen or even daily nzdusd [in range since oct] for the idea.
so say draw s/r lines on daily [usually closest round numbers or the 50] then when price gets close and expecting a bounce off the s/r go down to say 5 min and wait for the smas to flip over and then do normal sma entry with stop above the local swing high and with max target opposite s/r line at round number.
apparently markets are usually in a range 80% of the time?
6 January, 12:40 am
Hi Richard,
I personally don’t trade in range-bound market conditions. If there’s no trend as per my 3SMAs I simply stay out of the market. In my opinion, it’s crucial to not take second-best trades in order to keep a decent win/loss ratio.
-HECTOR-
20 February, 9:18 pm
markets range 80% of the time, alot of lost opportunity waiting for treds!