To jam and learn Alfredo Olivas - Hoy chords, your primary focus should be mastering these chords sequence: Bb, F, Bb, F, Gm, Eb, F and Eb. Kick off your practice at a gentle 55 BPM, then escalate to the song's tempo of 110 BPM. Fine-tune the capo based on your vocal range, ensuring it complements the key of Eb Major.