A crypto market trader revealed to his followers his cryptocurrency trading strategy that enabled him to turn 0.2 Bitcoin into $100,000.

In a new episode of “Venture Coinist” with “Lucky Martin”

The trader with the nickname “SalsaTekilla” gave his insight on how to manage risk, and revealed some details about his trading operations by saying:

I think of the market from a dynamic perspective, meaning that whenever I enter into a trade, my expectation changes.

Let’s say I enter a buy trade of $11,800 and target $12,000 and my stop loss is $11,700 (here, the risk ratio) is two to one…

Read:Visa and MasterCard confirm support for Binance amid its regulatory woes

As the market moves, the risk ratio also changes.

Let’s say we have $11,900.

Suddenly, I’m risking $200 to win $100.

So I always evaluate my positions whenever I get the chance.

Called “SalsaTekilla” is known as one of the most transparent traders in the crypto market, as top List of Bybit traders as the most profitable:

As a day trader, SalsaTekilla says his potential stands out most in speculation, a trading technique that enhances volatility in lower time frames.

The longer you are active in trading, the more external factors can affect it…

If you are trading for several days, you give the market a lot of time for such news that affects the market to change conditions.

The more time you spend on a trade, the higher the risk of external factors affecting your trade.

SalsaTekilla added:

I monitor the market as a day trader constantly.

I use different tools, I follow the news, I try to get a decent news feed.

Read:A dark web store defrauds its users by stealing their cryptocurrency

I don’t just use candlestick charts, I watch fundamental market analysis, news and market stats related to my trades.

He also told SalsaTekilla that he uses all the data to assess whether and how he should conduct a particular deal.

In addition, the same speaker emphasizes some key strategies when trading with leverage, as he tells about them:

Read:Director of Financial Markets at OKEx: China’s Crypto Situation Is Not Bad and Bitcoin Will Recover $60K in 2021

When you are trading with leverage, you need to use a stop loss.

You must have a deal voiding plan in place and you need to keep your risk very narrow.

For those looking to trade for a living, SalsaTekilla advises against using money that can’t be lost, telling me:

If you don’t have the surplus money to trade from and to live, you have less advantage in the sense that if you are pressured to make money and need to make money from trading to live, you will have a lot of pressure on your shoulders and you may make some pointless trades.

Read also:

15 Important Tips to Trade Cryptocurrency More Effectively

How does Tether (USDT) affect the price of Bitcoin?