If you want to set the hotpoint on a cursor, then you have one of two
options. Cursor files can define their own hotspot (I believe). In this
case, you would call the LoadCursorFromFile API. The other option would be
to call the CreateCursor API, which will allow you to pass the x and y
coordinate of the hot spot.
I've solved this problem by just creating a cursor image that's 4 times
bigger than the pic that I'm using for the cursor shape and putting the pic
in the right bottom part of the image
(since the default location of the hotspot is always the center) and leaving
the rest blank (transparent).