Hector

I am always looking to learn from people who trade for a living.  Why would I want to learn from someone who isn’t a professional trader?   Hector Trader makes a living trading forex and I wanted to see what he could teach me.

I just went through the Hector Trader Forex Trading Course and this is what I thought of it.

Hector Trader is actually Hector DeVille and I initially found his website by searching for different blogs related to forex trading.  My first impression of his website was that it was very clean and his videos were professionally produced.

When I first started listening to the free online videos on his blog, the information was practical and to the point so I kept listening.  He doesn’t go off on tangents.  He sticks to analyzing the charts and I liked that.

After awhile his accent grew on me and it’s actually a cool accent, but it does take some getting used to. I especially like his “double-oh” catch phrase.  Upon looking through his blog more, I learned that he had a currency trading training course, so I checked it out.

The Forex Trading Course by Hector Deville

It looked pretty good and was affordable so I signed up for his course.  The $197 price tag was nothing to laugh at, but it was much more affordable than those courses costing thousands of dollars.  The most important thing to me was that there was a 60 day money back guarantee if I didn’t like it.

As soon as I logged into the member website, I was pretty impressed.  There are a ton of videos and I can log in any time and take the course at my own speed.

The videos had the same professional quality that I experienced on his blog.  In addition, the chapters were well written and followed a logical sequence.

But the question remained, would this course actually teach me something?

His trading technique is actually pretty simple.  Remember, I said simple, not easy.  They are two different things.  Like with any good system, you do need to put the time in to learn the system and trade it correctly.

He gives you a ton of tips and techniques that could only come from years of actual trading experience.  Like any other strategy, I would recommend back testing it to get a feel for how it works.

Trading courses in general can be really dry but he injects his own brand of humor into the videos, making them easy to watch.

Here is the breakdown of the chapters:

• Chapter 1 – Searching for Trading Setups
• Chapter 2 – Price Pattern Breakouts
• Chapter 3 – Swing Trading
• Chapter 4 – Price Targets and Stop Losses
• Chapter 5 – Blending Technicals and Fundamentals
• Chapter 6 – Trade Management
• Chapter 7 – The London Open Breakout Technique
• Chapter 8 – My Golden Rules of Sensible Trading

He also includes the Metatrader indicators that he uses with his system so you don’t have to search the internet or hire a programmer to create them.

There are also a lot of great tips that you can implement immediately. One of the many things I learned was to wait for price to retest a level after a break.  That will put you in a much lower risk position than if you took the original breakout.

In addition, there were a few candlestick patterns that he teaches that I found helpful.  These are not traditional candlestick patterns, they are based on his observations, not the usual dark cloud, spinning top, dancing bear patterns or whatever.

The only issue with the course is that it doesn’t have the usual “introduction to forex” section that you see in most courses. That was fine by me, but newer traders may find it a challenge.

My solution is to take the BabyPips Forex School for free. That will give you the necessary background on forex and answer your questions like “What is a pip? That will take a couple hours to go through, then you will be ready for Hector’s material.

What I like most about his course is that there are a lot of videos.  I don’t like reading too much and for me, seeing his strategies in action is the easiest way to understand the concept.

I would highly recommend this currency trading training to any level of trader.  Like I mentioned earlier, there are a lot of professional tips and tricks that he gives out which make the course worthwhile.  He is really good at identifying specific patterns to trade and emphasizes using price action as the primary indicator. Click here to get more information.

I hope that helps!

Hugh

P.S. – Don’t let his cheesy looking product page fool you, his content is actually very solid.  If you have any doubts, Hector believes in his material so much that he offers a 60 day money back guarantee.

Update (August 20, 2010): While I was writing some blog posts I happened to revisit this post.  I just wanted to add that Trading Heroes has been around for about 3 years now and this course is still one of the only 3 courses that I would recommend to anyone who wants to learn forex.

I have seen a ton of educational material and have experimented with trading robots and signal services during this time and nothing compares to actually learning a system that is used by a professional trader.  I can tell you from my experience that you will almost never end up trading a system exactly the way you learned it, but you do need to learn a good foundation.

The most important thing to get out of a course are the general concepts of how to make money.  Then back test it and suit it to your own individual personality.

His original Hector Trader blog has gone away, but luckily his course is still available.  I hope that doesn’t disappear too.