A bitcoin trader who turned a 0.2 BTC investment into $100,000 has unveiled his strategy for trading crypto.
Speaking in a new Venture Coinist podcast with Luke Martin, trader SalsaTekilla offered insights into how he was able to grow his investment exponentially while managing risk.
The popular trader explained that he views the market in terms of “constant dynamism” rather than building stagnant positions.
Whenever I enter a trade, my expectancy changes. Let’s say I enter at $11,800 a long position and I’m targeting $12,000 and my stop is $11,700. My risk-reward is two to one.
As the market moves, my risk-reward also changes. Let’s say we’re at $11,900. Suddenly, I’m risking $200 to make $100. So I always evaluate my positions whenever I’m in one.
The pseudonymous trader also explained his employment of market scalping, a technique that leverages volatility in lower timeframes.
The longer you’re in the trade, the more outside factors can affect it…. If you are in a trade for days, you give the market a lot more time for such news that affect the market to change conditions. The more time you’re in [a trade], the more risk you take of outside factors affecting your trade.
SalsaTekilla has generated a significant following in the crypto space for being a transparent trader and sharing his positions. According to the ByBit leaderboards, he ranks first among traders with a P&L of +4,727 percent.
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