fxeconomist

Agree they mastered the art of cutting losses short and controlled drawdown is part and parcel of successful trading.

If there is a risk there must be reward too, our goal is determined when probabilities are on our side so we get positive expectation of gain. It suffices to make correct predictions on average, not every time.

Yeah that's why I tend to trade fixed lot size I increase or decrease it periodically depending on account equity. It helps me to avoid mood swings because I don't go into gambling by raising stakes, hence I can avoid large losses.

Yeah, locking positions is the worst thing that traders can do to limit risk. Unlocking positions usually end badly because at least you pay double costs at worst volatility doubles your loss.

Agree I also started from Hotforex demo and after some practice move on their live account with small deposit. I think it is essential to keep your demo trading time short so you don't get used to "easy" trading conditions.

Trading can be whatever you want to make it. You can start small and grow as large as you want. The biggest difficulty with trading is that a person has to make all of the decisions and mistakes cost capital. There is a tough road ahead if you allow your capital to erode. My approach is to study, test, learn using various sources - books, forums, Hotforex technical analysis webinars as sometimes Mr Market decides to change the game and steal our money.

Yeah Hotforex is quote EA-friendly broker, welcomes scalping traders, nowadays not many brokers tolerate such type of traders.

Why only 5%? According to Hotforex around 20% of traders are winning. I think it depends a lot on broker and its services.

Actually starting with small amount of money if you don't have trading skills is the only way to avoid large loss because during initial stages of studying you will have more losses than wins and it's important to reduce exposure during this time by trading small lots.

Not sure you can find worthwhile trading course online, most of the teach basics... you can get the same on Hotforex webinars for free, something more advanced need self-study and research.

Of course you can turn trading into source of stable income however I don't know ways to make it quick. I spent three years with Hotforex before I found the system that has positive edge, however it was thorny path had to lose some money which I consider as essential investment.

Agree I also started from Hotforex demo and after some practice move on their live account with small deposit. I think it is essential to keep your demo trading time short so you don't get used to "easy" trading conditions.

I would not advice to keep all eggs in one basket, at least you can compare execution if you use several brokers and choose the fastest and your choice will be justified.

Better to trade with regulated brokers like Hotforex or invest in their PAMMs if you don't want to trade yourself rather than investing in scam

FX and equity markets offer higher returns especially in case of central bank policy support so I just wait for signals from major central banks to make some buy-and-hold medium term trades. I though use Hotforex CFDs to create exposure because I don't need dividends since I'm focused on capital gains.