A Review Of Hector Deville's Forex Trading Course

Before you start forex trading, like any other business that involves putting your money on the line you will require some training. Hector Deville is a full time professional forex trader who trades the main currency pairings on various time frames from 5 minutes to 4 hours and even days. By his very nature, he will tell you that essentially he is a conservative trader.

His Forex Trading Course will be of particular benefit if you are either a new or intermediary trader. Although having said, some of his strategies and techniques would definitely benefit an experienced trader too. Like many professional traders, Hector only considers a potential trade if the price action is moving in the direction of the trend and he has precise rules to ensure that he is always trading with the trend.

His conservative forex trading techniques mean he likes to look for set-ups on his charts that provide a high probability for a winning trade.

What I particularly like about Hector’s course is that he not only explains everything thoroughly but he also provides hours and hours of videos showing how he decides about entering a trade i.e the patterns he looks for and the strategies he employs.

Unlike so many other training courses online that show you their huge winning trades you will also be pleased to hear that Hector does not just ‘chery-pick’ his outstanding winners for his videos, he also shows you examples of losing trades and others that he cuts short at break-even when he feels they are turning against him. This aspect of his course is refreshingly honest – Please don’t believe anyone who tells you that all your trades will be winners!

Having said, that Hector is clearly a hugely successful trader and with the videos you effectively get to ‘ look over his shoulder’ as he goes about his business.

Everything is here – forex trading strategies and techniques, pattern break-outs, targets, stop losses and of course, essential money management and trade management skills.

In my opinion, the only downside is, that as I’ve said previously, Hector is a conservative trader so you will need patience to wait for the correct set-ups (although patience is an attribute you will need to acquire anyway if you are going to be a successful trader). If you are more aggressive or maybe a trader who likes to take big risks then perhaps this is not for you.

In any event, the course comes with a full money back guarantee so you have no reason not to give it a try. The first chapter of the course is also completely FREE.

Please click here for details.

Start Forex Trading - A Beginners Guide

Before you start forex trading you will need to get some training. This beginners guide provides some important forex trading tips that you should find helpful.

Get Some Education
You wouldn't drive a car on the road without some training. Forex trading should be no different. There are excellent training courses to teach you to be a successful forex trader.

Demo Account Trading
Before you start forex trading with real money open a demo account. All the best brokers and financial spread bet companies will allow you to open one free of charge. You can then start forex trading using pretend money. Although trading with a demo account will not involve the same psychological aspects as using real money it will give you a feel for the markets before you start using your hard earned cash.

Start Small
When you have gained some confidence using your demo account, start forex trading using small amounts. It does not matter if you only make small profits. Don’t forget this will mean you only make small loses, providing you manage your trades correctly. The important point is that you will be gaining experience and learning to read the markets correctly. You will also be exposing yourself to the psychological aspects of using real money which you will have to learn if you are going to be a successful forex trader.

Never Use Money You Can’t Afford To Lose
As difficult as this might be to accept, you should only start forex trading with money you can afford to lose. And be prepared that you might lose your initial bank. If you are trading with money that you need for other things such as the rent, mortgage payments or other bills you are almost certain to fail. There is no way you will be able to make sound decisions if you are trading with money you are terrified of losing. 

Cut Your Losing Trades Short
Few people can admit they are wrong! It’s just human nature. This fact makes cutting your losing trades short a very difficult thing to do. It takes experience, courage and a great deal of discipline.
However unless you learn this golden rule you are not going to survive for very long in the forex trading world. New traders, in particular, often find closing losing trades impossible leading to even greater loses. Accept losing trades. Period. Every trader has them. 

Cutting your losing trades short is an essential part of your money management. Even if you are correct on less than half of your trades, as long as you cut your losses short and let your winning trades run, you can still make money. Three or four winning trades out of ten can make you a winner if you keep your discipline.

Let Your Profits Run
Allowing your profitable trades to run as long as possible and not close them too soon is just as important as cutting your losing trades short. Sometimes it may be tempting to close a trade just for the sake of taking a profit but this is when you must hold your discipline. Ask yourself why you want to close the trade? You may be throwing away even more profit by closing your trade too early. 

Trade With The Trend
You have no doubt heard this phrase before. Don’t be fooled by it’s simplicity!
When a market is moving in a major trend don’t trade against it. If you do, you are likely to get hurt. A mistake often made new traders (and more experienced ones) is to buy or be long in a down trend or sell short in an up trend. 

If you can follow these simple rules when you start forex trading they should provide the basics for long term success.
Subscribe to: Posts (Atom)