A Bitcoin trader has unveiled his crypto trading strategy that saw him make a profit of $100,000 after trading only 0.2 Bitcoin.
Unveiling the crypto trading strategy behind his massive Bitcoin returns, the trader who goes by his pseudonym, SalsaTekilla was in an interview with Luke Martin who runs Venture Coinist.
Giving the full insight into how he does his trade, SalsaTekilla says if he enters the market and trades, he changes his expectation almost immediately after the trade. Giving an example, the trader says if he plans to trade on a long position at $11,800 and his target set at $12,000, he takes all his profit when it hits $11,700. He acknowledges that in every trade, he has a risk to reward ratio of two to one.
SalsaTekilla gives a crypto trading strategy to help investors
Going further he also said that his rewards are always determined by the movements in the market. Giving another crypto trading strategy, he noted that if he was trading at $11,900, it means he is risking $200 in a bid to win another $100 to his cash.
The bottom line as he says is that every time any new situation comes up, he would always re-evaluate his positions. SalsaTekilla is famous for the transparent way he carries out his trades and is presently in number one position on the world trading series hosted by Bybit.
Trader says outside factor is key in every trade
SalsaTekilla also noted that another one of his crypto trading strategy was scalping which is useful for him as he uses it to relinquish positions on a lower time frame. He also noted that the more time you spend in a trade, the more time it takes for an outside factor to influence the trade.
He also noted that if you’re in between a trade for more than a day, the market gets influenced by news and happenings around the digital asset you’re trading. Because he does his trading in the day, he has more than enough resources to monitor happenings around the digital asset.