fxeconomist

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.

I used micro account of Hotforex with starting equity of 5K and leverage 1:50 to make conditions close to my future live account and looking back I see that I managed to avoid major psychological pitfall

Agree, after careful research I set my choice on Hotforex and quite satisfied with trading conditions on their platform. Great for both for scalping and for swing trading, withdrawals are processed quickly.

have you tried Hotforex or similar brokers? I like their zero spread account very efficient for scalping and other types of high frequency trading.

Yeah very strange name for a broker. To add my two cents I would also vote for Hotforex very honest broker with reliable platform. Filled my orders perfectly at yesterday breakout on Gold after the Fed meeting.

Yes trading can give as freedom but it has relatively high prices if you don't want to study learn from trading mistakes or fall into gambling. Trading success isn't something you can achieve quickly same as in other businesses.

Are crypto pairs still available for trading? How are swaps calculated for BTC? Is there a positive carry for long or short?

Correct, that's why I try low risk scalping system with Hotforex. What do you think about scalping?

Yeah that's why I prefer to trade low volatility pairs such as USDJPY so I could set stop loss closer to entry points and decrease chance of a loss.

Does it mean that buy and hold strategy for some broad index like S&P 500 is the best one? Or stock picking still makes a sense in the long-run?

Please explain how I can apply this knowledge in trading with my current broker Hotforex.

No matter which MACD period you choose the underlying is still a price which is almost always random. I trade only news with Hotforex only short-term predictions because later prices again become random, impossible to make correct predictions in the long-run.

Yes I and it's even more important to know volatility of your returns than market prices because higher variance of returns makes your progress very unsustainable.

Yes trading currencies is much more risky than trading stocks, since they're not supported by central bank policy efforts but instead freely fluctuation in a very random fashion. Profits can create wrong impression that you learned how to trade but often it is just the product of pure luck.

Carry trading is great on USDRUB, I do it at Hotforex and reap good profits when the ruble falls a lot. It is a great opportunity to earn if you have patience.

For CFDs MT4 is more than enough, good backtesting capabilities, speed, lots of education material on MQl5

Agree after testing Elliot Waves for three months I returned to S/R trading with Hotforex using RSI as confirmation signal and trading returns went into green again. This was pricey experiment so stick to your approach if it works, lol

Most of the projects are scam because they can't generate profit (even if they aim to do that). As some famous economist said crypto is a solution that seeks for a problem. Most often their application is exotic, they still don't have a market, potential buyers of their services, but this domain is full of hype which attracts fraudsters. It means that the chance of adverse selection is high there.

To avoid consistent loss it is important not to overtrade as many losses are result of excessive emotional pressure or fatigue. In turn this often arises in the state of overtrading.

Thanks what is your advice regarding broker? Did your experience gave you some new insights how professional broker should look like?

Yeah I also noticed that's its correlation with other major asset clases is lower so we can use it as a hedge.

What is better: trade currency futures with access to exchange or currency CFDs where prices are set by the dealer?

Yeah it works like a charm basically you just setup a parse bot that checks frequently the website around the time of release, like NFP report. Getting the figure and then comparing it with concensus in economic calendar you make decision buy or sell. It is then executed in MT5, thankfully it offers python bridge so you can connect to it python in 10 lines of code.

Agree, we have to eliminate emotional pressure from trading and the biggest source of terrible feeling of a loss is trading with the money you can't afford to lose.