The anonymous trader, who was a guest on a podcast and managed to convert 0.2 BTC to $ 100,000, talked about what strategy he acted.
A Bitcoin trader who saw $ 100,000 in trading, which he recently started with 0.2 BTC, talked about what strategy he followed when trading.
I always evaluate my positions
The trader, who was a guest on cryptocurrency analyst Luke Martin’s podcast called The Coinist Podcast and used the alias SalsaTekilla, gave ideas on how to manage the risk. Trader said, “Let’s say I opened a long position at the level of 11 thousand 800 dollars and my target is 12 thousand dollars and my stop level is 11 thousand 700 dollars. In this case, my risk-reward ratio is two to one. My risk reward rate changes as the market moves. Let’s say we’re at $ 11,900. At this point I’m risking $ 200 to earn $ 100. That’s why whenever I’m in a position, I always evaluate my positions. ” said.
From 0.2 BTC to 8.95 BTC
SalsaTekilla is one of the most profitable users of the crypto currency derivatives exchange Bybit. Bybit’s world trade series ranks second on the leaderboard with an individual profit rate of 4595%. It is seen that the user, who started the transactions with 0.19 BTC, increased his capital to 8.95 BTC and made 8.76 BTC in profit.
Long-term operations increase the risk
The anonymous trader says its advantage comes from scalping, a trading technique that takes advantage of price volatility in low time frames:
“The longer you stay in a process, the more external factors can affect it. If you are in a transaction that lasts for days, you will give a lot of time to the news that affects the market to change the circumstances. The more time you spend in a transaction, the higher your risk due to external factors affecting your transaction. ”
The crypto money strategist also states that as a daily trader, he constantly monitors the market and says, “I use different tools, I benefit from the news. I’m trying to get a good newsletter. I don’t just use Japanese candlestick charts, I also watch some order books. For the chain, I follow the analysis, news and certain market statistics. ” He speaks in the form.
In addition, SalsaTekilla says for those who trade with leverage, “When entering a leveraged trade, you must use a stop loss. You have to have a plan to cancel the transaction and keep your risk very tight. ” made a suggestion. In the continuation of his words, he said to those who want to trade for a living: “If you have to trade to survive and you feel the pressure to earn money, you will have a lot of burden on your shoulders and therefore you can do some shitty transactions.”