Funded Trader Interview #10: Konstantins
3 minutes read
12. 9. 2024
How did you find out about Breakout?
From a Cryptoface stream, very grateful for that.
In broad terms, what is your trading strategy?
Well, one of the main ingredients is using order book analysis and order book specific indicators from TRDR, such as bid/ask ratio when it hits extremes on either side. I find that to be the most useful and reliable to start looking for entries, then Cryptoface’s Market Cipher as well for confirmations and better entries.
In more detailed terms, what is your favourite setup?
Example: looking at TRDR’s order book depth indicator, I see the bid/ask ratio in the 1-2.5% range and it is reaching below 65 – that would generate a signal and I would start looking for a long entry. Then I would examine the Market Cipher, check Money Flow, Momentum Waves, and RSI to confirm that it’s indeed a good time.
I would check 20, 50, 100, 200 EMA’s on all time frames to also form an opinion, and if everything is more or less telling me the same story, I will then enter long, and wait. I don’t like stops, but given the specifics of prop trading, I will set a stop so that the loss on any given trade is less than 5k, but sometimes below or above a trendline, for example. Then wait to take profit.
How frequently do you trade?
Daily.
What is the best piece of trading advice you’ve ever received?
It would be to learn to control your emotions. As many times as I encountered big losses, it was always because of FOMO. When you trade with no losses for 20-40 days, it then really gets to your head and it’s really easy to get reckless.
What do you find most difficult in trading?
Not to FOMO. I am my own worst enemy. And also to just accept small losses and not try to make up for a loss immediately. Trying to make up losses usually leads to defeat, but it is very difficult to control. One advantage of prop trading is that I have a 5% daily limit, so I know if I don’t stop I will lose an account. It’s actually really good for discipline and I don’t think it’s wise for me to trade with my own money. This is much better as strict rules force you to be disciplined.
How was your experience with the Breakout Evaluation and Breakout Account?
It was great overall. The only thing to improve is the mobile app, it loads a bit too slowly and sometimes takes a long time after opening. But everything else is great. Breakout rules are the most fair I have encountered and are not designed for traders to fail the evaluation, like a lot of other platforms feel.
For example, on other platforms the daily drawdown is calculated from the highest equity point, so you never really know where to set stop loss. There are no minimum trading days, no limit on single trade gain, and no maximum trading days, which are all great, really easy, and straightforward. It’s very clear so I could concentrate on trading and not be scared to fail for a variety of reasons.
I chose the 2-step Breakout Evaluation and it took me a few attempts, but once I made it I was funded immediately, and have made 5 withdrawals so far in the first week around $1000 each. So I have recovered the money I have invested into evaluations and basically now have access to a well-sized trading account. It is much easier to make 1% from 100k than it is to make 100% from 1k.
Withdrawals were effortless too and took a few hours on average to hit the wallet.
What advice would you give to someone starting their Breakout Evaluation?
I would actually recommend using a prop firm like Breakout rather than trading with your own capital. It’s less risky as your risk is limited. It’s really easy to lose money with trading. Also, focus on risk management in general.. Position sizing is key.
Would you recommend Breakout to other traders?
Super grateful to Cryptoface and the Breakout team, it actually saved me right now, and I would highly recommend it to anyone who wants to trade crypto. I will do my second evaluation soon to get a second 100k account (will try the 1-step this time).
