A popular Bitcoin trader drew all the attention when he won $ 100,000 with 0.2 BTC. The analyst explained to his followers his successful crypto trading strategy.
In the new episode of Venture Coinist, a YouTube post organized by Luke Martin, crypto analyst SalsaTekilla expressed his views on how to manage risk and said:
“I think of the market in terms of constant dynamism. Let’s say I entered a long position at $ 11,800 and targeted $ 12,000. In this case, I set my stop at $ 11,700. My risk-reward ratio is one to two… As the market moves, my risk reward changes. Let’s say we’re at $ 11,900. I’m risking $ 200 to make $ 100 all of a sudden. That’s why whenever I’m in a position, I always evaluate the conditions. ”
Bitcoin Analyst tops the list
SalsaTekilla, known as one of the most transparent investors in the crypto community, tops Bybit’s world leadership list.
Following the market in the heat of heat, SalsaTekilla says its advantage comes from scalping, a trading technique that increases volatility in low time frames.
“The longer you trade, the more external factors you count…. If you trade a few days a week, you will miss the kind of news that affects the market. The more time you spend in a trade, the more risk you reduce due to external factors affecting your trade. ”
The crypto strategist also points out that as a day trader he is constantly watching the market.
“I use different tools, news. I’m trying to get a good newsletter. Not only do I use Japanese candlestick charts, I also watch order books quite a bit. I follow in-chain analysis, news, certain market statistics I have. ”
The trader states that he uses all the data to evaluate whether he should make a particular trade and how he should manage it. Additionally, SalsaTekilla highlights several important strategies when trading with leverage:
“When you trade with leverage, you need to use a stop loss. You have to have an override plan and keep your risk very tight. ”
The analyst emphasizes that those who want to trade for a living have the disadvantage:
“If you’re just trying to make money from this business and you don’t have any spare money, you’re under pressure to make money. In a sense, you have less advantage. There is too much pressure on your shoulder and you may not be able to bear it in some operations.