Popular Crypto Trader Shares Secrets After Growing His Bitcoin Fortune - CryptoGlobe

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. 

I recorded a conversation with @SalsaTekila earlier this month about his trading strategy, dropping out of university, and the trading competition.

In a few weeks he's turned .2 BTC into over $100k.

Absolute legend.

You can watch the full podcast here: https://t.co/tZ1lLBI3gv

— Luke Martin (@VentureCoinist) August 29, 2020

The popular trader explained that he views the market in terms of “constant dynamism” rather than building stagnant positions. 

He said, 

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.

He continued, 

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. 

He said, 

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. 

Junki took a little hit, but I know it means nothing, the man fluctuates A LOT on small moves, it will be a tight battle for the last day of WSOT competition. pic.twitter.com/TW7wG2jCoB

— SalsaTekila (@SalsaTekila) August 30, 2020

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