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Funded Trader Interview #15: DeviantTrader

breakout-interview-devianttrader

How did you find out about Breakout?
I actively follow CT and was following Cred and Adam. Prior to discovering Breakout I was looking for a crypto prop firm, but couldn’t find any. Luckily, Breakout started soon after my search was about to end.

Seeing Cred and Adam announce they were a part of Breakout, I was confident that the experience will be good and trustworthy.

In broad terms, what is your trading strategy?
I follow 2 basic strategies, either I look for Trend Reversal on the Daily timeframe to preposition myself or I wait for Trend Continuation to ride along. My daily to weekly long positions are usually half of my intraday positions to accommodate risk.

When I’m day trading, which is not everyday, I usually try to go for Trend Continuation trades. I’ve found that I’m not good with Trend Reversal on Intraday.

I don’t use any indicators much, staring at charts has made my brain subconsciously recognise certain things that help me enter trades.

In more detailed terms, what is your favourite setup?
My favorite setups occur in the context of long, one-sided trends.

I look for signs of exhaustion. If I see a reversal, I add to my trade keeping both Time and Value in mind. If the trade goes my way, I add more. If I’m wrong, I close my trade. I don’t necessarily wait for the value to invalidate my trade. If I’m expecting a trade to go in my direction within 5-10 minutes and it doesn’t, I simply close it even if it has not hit my Stop Loss.

How frequently do you trade?
That depends on the market conditions. If I feel there is enough liquidity around for trends to continue and the market to behave the way I expect it to, I trade everyday.

If I feel there isn’t enough liquidity for the market to move in one direction and simply chop around, I don’t trade for weeks.

What is the best piece of trading advice you’ve ever received?
Being a part of CT for more than a few years I’ve received loads of trading advice but one thing struck with me, I don’t remember the exact words but I remember him mentioning how it’s not the news that is important rather how the market reacts to the news. What it means is, even if I and others believe the news is bearish and there is no significant down move, the news is actually bullish and vice versa.

This has helped me numerous times planning my weekly outlooks.

What do you find most difficult in trading?
Revenge Trading. Even after so many years of trading, thoughts like “I could have done that.” “I could have made that much”

“Maybe I should size up?” Never went away, after a bad day of trading I’m more prone to do worse trading the next day, stopping myself when it’s needed has helped me immensely.

How was your experience with the Breakout Evaluation and Breakout Account?
The experience has been amazing, I’m extremely thankful to the team at Breakout, it honestly has improved my life a lot.

Execution and Spread is my favourite part about Breakout, coupled with the amount of coins Breakout has listed is honestly amazing. I love that they don’t shy away from listing highly volatile coins. I don’t trade BTC or ETH, altcoins are my jam and Breakout has me covered.

The team was extremely helpful, had some minor losses due to some technical issues and the team reimbursed me no questions asked. Honestly that was very strange to me, cause I don’t know why I thought it would be a hassle, but it wasn’t haha.

What advice would you give to someone starting their Breakout Evaluation?
Take it slow. You don’t have to rush it, trade only when you have a setup, don’t trade for the sake of trading. You don’t need to trade every setup or have a 70% win rate to get a funded account, 50% win rate with good risk management goes a long way.

Would you recommend Breakout to other traders?
Of course! Why wouldn’t I? It’s such an amazing place to be, heck I already have 2 of my friends trading evaluations with Breakout!