I have been trading demo with this broker for months and I see it's ok. But which account type should I choose, is their demo different with live system?
When I was trading hotforex I didnt see much difference between demo and live, but I was using this account type = https://photoshar.in/hotforex-account-type
Do you mean demo and live account has no differences? How come?
Zero spread account actually doesn't have zero spread and goes along with com, however the spread is really low as raw but for newbie , I advise to use no commision account.
Why using commission account can be harmful for newbies. Can you provide some simple intuitive explanation?
You can try commission account to get the answers.
Ok you mean learn by my own mistakes. Nice one thanks, I though you could share your experience of trading on commission account
im sticking to what works, i mean its a premium account havent tried changing things up recenlty though trade volume dropped a lot, i am trading less now.
Yeah premium account works superb for me, tight spreads, speedy execution. Scalping makes it work, though raw spread account would work better but keep conservative approach to trading, no extra tests if everything works now
How's about the PAMM, is it worthy to try?
Yeah, it is really worth it but use rescue bonus and trade with managers which deposited their own money too (forgot how this option calls at Hotforex).
How's about the PAMM, anyone experienced their PAMM, how can we choose the best PAMM through their PAMM list?
I think you should check 3 most important factors when considering a PAMM account:- Profitable (ofc, do you want a negative PAMM)- Ages (skip if it's under 1 year, some EAs or strategy could work in short-term)- Drawdown (if it's > 70%, that could be high-risk PAMM)
Yeah and also you have to diversify your investment, i.e. don't keep all your eggs in one basket, because performance can very switch from profit to loss and assuming performance between pamm accounts is different you can minimize risk while remaining on the positive inside in terms of profit expectations
It worth if you set diversification as your fundamental guiding principle. I mean go and estimate average returns from the set of best promising managers on long enough history to see if they can let you down. If no go ahead, split your money between them and wait for results. Don't forget to take profits or losses according to money management plan.
The beginner's guide to FX trading