Popular Crypto Trader Reveals Secrets After He Grew His Bitcoin Fortune
A bitcoin trader who transformed a 0.2 BTC venture into $100,000 has revealed his procedure for trading crypto.
Talking in another Venture Coinist podcast with Luke Martin, trader SalsaTekilla offered bits of knowledge into how he had the option 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 anonymous trader also explained his employment of market scalping, a technique that leverages volatility in lower time frames.
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.