boltushkin

Demo trading for a newcomer plays a very important role. I started working with broker Hotforex, and I can say that it was the process of training on the demo that became a reference point for me.

Yeah I also don't like tests generally but their demo-to-real contest had me :D. I'm fond of competition with decent rewards.

Yes I think we have to trade with trusted brokers to avoid such situations.

Hey, do you still hold account with them? Any updates on your rating?

You have to bear in mind one important rule - stop loss orders are always set below the current price for a buy position or above the current price for a sell position. I always follow this rule with Hotforex.

You should try their no-deposit bonus first so you can evaluate advantages of cent and regular accounts.

How long have you been trading with them? Do you use automated system or trade manually? Or combine those two approaches?

Yes 2-3 months is ok I also spent two months on my Hotforex demo before I move to live account.

I trade with Hotforex broker, it’s the company that I am talking about, it’s just too good and starting with them is almost certain to make withdrawals, I love to work with their low spread of 0.1 pips for all major pairs, it has helped me a lot and allowed me to work with comfort and that’s why I am so successful.

It is important to follow your own trading rules if you don't want to turn your trading into betting to random events. It can be very dangerous because you effectively lose control over your trading.

Why do you think so? I think New York session is also very busy and I like to trade overlap of NY and London sessions

Yeah it is impossible to trade without a broker. But what is even more important we can't trade in profit with brokers which offer bad trading conditions or which offers access with high transaction costs. That's why I carefully choose brokers it is important component of trading success. One of such brokers is Hotforex.

Thanks what about reliable FX brokers? Can you suggest any? I tried Hotforex, Tickmill and IB, no issues so far.

What prices do you mean? Maybe spreads? Well it depends on trading session and liquidity it is better to compare average intraday spreads but it is hard to do manually.

I trade only with my rules because trading with some other rules is basically blind following. You didn't work on these rules from a scratch to understand how you can modify them in case something goes wrong. The biggest asset in any trading system is that you are a creator (author) of it. I trade only with my personal systems at Hotforex.

What do you think about their demo contest? I see really huge gains like 10000% are they legit? Basically how do traders who participate to this contest earn those massive returns? Any ideas? Btw, got 10th place in last demo contest got some money from them.

The biggest benefit from long-term trading is long-term focus. You save on commission and beat all weak hands.

Agree but the problem is that forex market is quite complex "place" in terms of market participants, their needs, trading instruments, interactions between them, etc. You have to read a lot of books to understand if there is a place for your ambitions and trading strategy. Nevertheless I had quite smooth start with Hotforex.

I just started trading on demo account using Hotforex. Something tells me forex is one of the most profitable businesses online because leverage is very powerful tool.

Agree but the problem is that FX is sophisticated subjected you have to read a lot of books to understand its mechanics.

Please rate this broker, I want to deposit big amount to this broker. Thank you.

you can try Hotforex or Tickmill, they are best two brokers I've ever tried. They've never let me down.

Anybody has experience with Hotforex? How fast do they execute trades and process withdrawals? Any advantage compared to other brokers?

I always read market analysis from Hotforex analyst before I start my trading day, it helps me to shape my overall strategy for the day, choose between risk-off and risk-on directions.

Best currency pair is of course EURUSD because of high liquidity even at night and low spreads, very good scalping on it.