Austin Otakho, a UK-based trader with FundedNext, emphasizes patience and persistence in trading, advising to keep learning and stay dedicated.
Austin Otakho, a UK-based trader with FundedNext, emphasizes patience and persistence in trading, advising to keep learning and stay dedicated.
Featured News: FundedNext reveals Austin Otakho’s insights on trading success, strategies, and exceptional services in an interview.
In the evolving world of prop trading, FundedNext stands out as a beacon of reliability and innovation. Established as a premier prop firm, FundedNext has made significant strides, particularly in its commitment to trader satisfaction and rapid payouts. Moreover, the firm has quickly become a favorite among traders, including seasoned professionals like Austin Otakho from Birmingham, UK.
Swift and Reliable Payouts
One of FundedNext’s standout features is its guaranteed 24-hour payout. This commitment to fast and reliable payouts is a game-changer for traders who rely on timely payments. “When you have a company that wants to pay its traders promptly, that’s always a positive. We’re doing this to get paid, and FundedNext understands that,” says Austin, who has experienced the benefits of this feature firsthand.
A Trader’s Journey with FundedNext
Austin Otakho, a forex prop trader, has been with FundedNext since last year. His initial experience had some hiccups, but the company’s prompt resolution and introduction of the 24-hour payout policy cemented his loyalty. “I had some issues initially, but everything got resolved, and the guaranteed 24-hour payout was a turning point for me,” Austin recounts.
Trading Strategies and Tools
With over two years of trading experience, Austin primarily trades US30 and NAS100. His strategies include breakouts and supply and demand trading, utilizing indicators like SMA, EMA, RSI, and Midnight Open. Austin’s focus on a few key instruments has allowed him to understand their movements, enhancing his trading efficacy intensely.
Austin emphasizes the importance of top-down analysis, starting with higher time frames like the four-hour and daily charts before drilling down to the 15-minute chart for trade entries. “US30 is volatile, so the 15-minute chart is my sweet spot for entries,” he explains.
Performance and Risk Management
On a typical trading day, Austin’s win rate hovers around 65%, with a focus on levels rather than strict risk-to-reward ratios. He advises against over-leveraging and emphasizes maintaining a long-term perspective, especially on funded accounts. “I risk about 1 to 2% on a funded account and about 3 to 3.5% on a challenge account,” Austin notes, highlighting the importance of conservative risk management.
The Path to Mastery
Austin’s journey into trading began with cryptocurrency in 2017, which he describes as a rollercoaster experience. “Your first experience with crypto, you’re going to lose all your money,” he says candidly. However, persistence and continued learning paid off. Austin now trades and coaches students on trading and starting online businesses.
His advice to struggling traders is to keep learning and not give up. “Once you master this skill, you can take it anywhere. Trading is difficult, but don’t give up. There’s always light at the end of the tunnel,” Austin encourages.
You can watch the video of Austin Otakho’s full interview and gain deeper insights into his trading journey with FundedNext.
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