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Everything posted by pradegxs

  1. Well if we trade on news I think we need more leverage to increase our potential profit. Basically the strategy I use is depositing 200$ and taking highest leverage to put two pending orders in opposite directions. It also known as news straddle. Anybody of you have successfully implemented this strategy on Hotforex?
  2. You can be easily confused if I try to deduce a lesson from every losing trade. Instead I would recommend to draw conclusions from 100-200 trades to see low the Law of Large Numbers (statistical property) applies to your trading results. There can be million reasons why you lost in a particular trade.
  3. I guess tier-1 jurisdiction is FCA and tier-2 are CySEC, SA FSA and third regulation which I don't know. Hotforex put a lot of efforts to become properly regulated.
  4. By using high leverage you get an opportunity to make more money from price movements that you guessed correctly but the downside of this is that your account becomes more vulnerable to adverse price moves. I use 1:50 with Hotforex it took 1 month of trading to realise that high leverage doesn't suit my trading approach.
  5. Brokers offer very low entry barrier for retail investors, for example Hotforex starts to accept clients with as low as $25. My first deposit with them was 50 USD which quickly grew to 100USD after two weeks of extensive training.
  6. This broker is really excellent place to trade FX their trading conditions make profitable some spread- and speed-sensitive trading systems which fail with other slow brokers.
  7. I use FAP turbo with Hotforex and very satisfied, make 30-40 pips daily using small lots. It works only with brokers which offer tight spreads and execution below 50 ms time.
  8. Of course I prefer FX due to higher volatility and ability to trade when stock markets are closed but occassionally I make bets on SP500 using Hotforex US500 contract. It's much cheaper than its counterpart but gives same profit opportunity.
  9. Low spread is extremely import in scalping I would say high spreads make scalping useless strategy. I work on raw spreads account offered by Hotforex and get 0.0 - 0.1 pip spreads on EURUSD during London session.
  10. I use calendar from MT5 platform of Hotforex and noticed that my news trading improved considerably.
  11. Great broker I use it along with Hotforex for arbitrage they provide good speed of execution so it is profitable to trade with them.
  12. Yes we have to be patient when we open a trade and wait till it hits stop loss or TP. Sometimes it's very tempting to make early decision but I know that then I will ruin my trading plan. Also stop loss and take profit work perfectly at hotforex that's why I'm not so worried about them during high volatility.
  13. I think January effect does exist that's why we saw some major movements which dominated in December ceased, so looking forward to get more insight about that at the Webinar.
  14. The biggest threat to discipline is haphazard trading decisions when you chase luck. One mistakes is enough to launch an avalanche of mistakes as you try to recoup loss in quick way, forgetting about discipline altogether. That's why I always set stop loss in my trades with Hotforex and keep risks manageable.
  15. lay out an approach, adversity, headlong To trade news you have to lay out an approach of which news you will trade and when, which phase of news release you trade (pre, during news or post news volatility). Bad broker can create adversity for news trading that's why jumping headlong into trading risky events is not advisable. I would recommend Hotforex for this purpose but the final choice depends on you.
  16. Any updates on their monthly demo contest? Have you tried to take part in the tournament guys?
  17. Trading discipline is not something that is easy to achieve because you can't change your mind instantly and accept losses without emotions. It takes time. But it is really useful because when you don't pay attention to loss you start to focus on true trading opportunities.
  18. Broker is really important because it is responsible for execution of orders and withdrawals. It's hard or impossible to earn with slow brokers. One of the fastest brokers I've tried is Hotforex that's why I'm still trading with them.
  19. that's why investments will be always better in trading. Investors tend to outperform traders in the long-term because they make less mistakes and hence reduce transaction costs per trade.It's additional factor which improves profitability. That's why I try to be investor making investments in US market with Hotforex
  20. Got my first withdrawal in BTC with Hotforex. Interestingly it was processed quite fast and with low transaction costs. Have bitcoin network generally increased speed of transactions?
  21. Agree that's why I opened account with Hotforex. They offer ECN account and it is essential for scalping because making a lot of trades with tight take profit targets alters profit/transaction costs ratio against you.
  22. Any demo contests associated with this great event?? 😄
  23. I traded with Hotofrex on their demo account for sometimes, but after learning how to draw S/R lines correctly I moved immediately to live account to test my ideas. With right risk management and patience it is still possible even for a newbie to make 5-10% monthly with quite low risk.
  24. Yeah I think I will grab some profitable trades on post election volatility with Hotforex, we just need to be patient and be ready
  25. Until they become professional they have to extremely cautious when using leverage and trade during times of high volatility. This is one of the major reasons of big loss for newbies after which trading goes south quickly because of emotional stress.
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