1) get a new prop, APC 12.25x3.75 is the best fr that engine to hover.
2) get the most movements as you can on a rate switch

Ive always said if you want to learn to prophang you need to know how to get out of it vertically. if you fall out add full power and your out, as when you hover low you cant just let it drop out of the sky and when the speeds up pulll out.

It very hard to lear to hover. it takes lots of concentration and uses all 4 controlls at once. to get into a hove you fly in a strait line (slowly, if you go fast, you WILL rip the wings off) and pull up and bring the throttle down so your not rising or falling, at the begining its quite hard to get the right amount of throttle to keep it in the one hight (this come with practise).

now your in the right position to start to hover (vertical as possible) at a hight the plane will fall out. to keep it in the hover you need to input the correct controls. so if it falls to the left, add right rudder. if it falls to the right add left rudder. if it falls to the undercarige pull back if it falls onto its back add down.

do this for a while. your confidence grow and reactions will quicken and most likley you will get lower. when your really confident do it low.but make sure you knowwot your doing.

anouther way of doing it is to do it at low leval. in thery if your lower, and it falls out it wont gain enough momentum to do much damage. just use the same method as abouve but make sure our not a foot from it, if you are your mad and you shouldent be trusted with a glowplug far less a hovering plane, only do this when youve got experience, even with that i sometime catch myself out.

to get into a low hover fly low and slow, sharply pull up and add power and hover as above.

this is the way i lernt: over the crops at our feild i usd the low hovering method, if i fell out (as i did after 10 seconds) the crop cushioned the fall. yes it was annoying haviong to walk in the crop loads of time and have to restart it but i learnt how to do it quickly and with little fear of damage

but the main thing to say is......

PRACTISE PRACTISE PRACTISE!

hope it helps