# Top Traders Report - August ‘24

📢 The “Top Traders Monthly Report - August '24” is out now! 🚀

Featuring curated, consistently profitable traders from the Binance and Hyperliquid Leaderboards.

We'll reveal key stats and insights that distinguish top traders in this competitive arena.

Let's explore the trading elites! 💪

# **1️⃣** Top 3 Traders by PnL ($) - Overview

August 2024 highlights its top three traders as follows:

🏆 [jez](https://app.hyperliquid.xyz/explorer/address/0xaa7577a7a27aa7fcf6d0ec481b87df3ad0f6a88e) (Hyperliquid)

🥈 [TRADERT22](https://www.binance.com/en/futures-activity/leaderboard/user/um?encryptedUid=13A05CEEA6B2B444C1AB8973255BAF9C) (Binance)

🥉 [DJ\_](https://app.hyperliquid.xyz/vaults/0x4a0AEE02132A411cfcF79A486F0e2d7c5152e94a) (Hyperliquid)

August, much like July, was a volatile month for the cryptocurrency market. Using $BTC as a benchmark, it experienced a sharp decline of nearly 24% during the first week of August, only to rebound by almost 21% by the month's end, ultimately closing at -8.8%. This level of volatility presents significant opportunities for traders who can navigate and capitalize on these market swings.

The top three traders of the month demonstrated this potential, earning **profits ranging from +$1.3M to +$2.8M**. Leading the pack was **jez**, a new trader from Hyperliquid, who topped the charts with a total profit of +$2.8M. His PnL curve shows that he capitalized on the market's most volatile period during the first week of August. In second place, for the second consecutive month, was **TRADERT22**, who followed a similar trading pattern to jez and ended the month with +$2.6M in profits. Rounding out the top three was **DJ\_**, another newcomer from Hyperliquid, who generated +$1.3M in profits, primarily during the first and last weeks of August.

![](https://cdn.hashnode.com/res/hashnode/image/upload/v1727289336684/a35dab64-d9c0-4d0f-9483-26c4e3921ae4.png align="center")

# **2️⃣** Top 3 Traders - Performance Metrics

In August, **jez** closed a total of 32 positions, averaging 394 trades per position. He achieved a Win Rate of 46.9%, coupled with a notably high **Profit Factor of 8.03 and an average Profit-to-Drawdown ratio of 2.75**. His typical holding period ranges between 4 to 5 days.

**TRADERT22**, the most active among the top traders, **closed 294 positions with a Win Rate of 57.5% and a Profit Factor of 1.45**. Unlike the others, his average holding period is less than 3 hours, highlighting his fast-paced trading style.

**DJ\_**, despite **closing only 9 positions, averaged a remarkable 1,653 trades per position**. He shows an impressive **Win Rate of 88.9%** and an even higher **Profit Factor of 8.55**. His average holding period aligns more closely with jez, at around 6 days.

![](https://cdn.hashnode.com/res/hashnode/image/upload/v1727289458849/a2cf257f-8ebf-4f5a-a25f-5da10365fe27.png align="center")

# **3️⃣** Trader Spotlight: jez

## 3.1. Notional exposure and PnL ($)

The notional exposure chart reveals that jez maintained a primarily directional approach, either long or short, throughout the month, with **average exposure ranging between -$12M and +$11M**. Of the 32 positions he closed, approximately 63% were longs. A significant portion of his profits came during the first week of August, driven by two short positions on $BTC and $ETH.

![](https://cdn.hashnode.com/res/hashnode/image/upload/v1727289519524/d634615c-8ced-443d-b4c2-fee4983ffeaf.png align="center")

In August, jez traded **only 8 symbols**, with the majority of his profits coming from the two major coins, $BTC and $ETH. His trading activity was most concentrated from the end of July through the first week of August, and again during the last week of the month.

![](https://cdn.hashnode.com/res/hashnode/image/upload/v1727289537380/4bfe51ef-8c76-4598-aaa5-457c51fd9893.png align="center")

The figure below displays the **Total** **PnL ($) by symbol traded**.

![](https://cdn.hashnode.com/res/hashnode/image/upload/v1727289555223/576ac390-c212-46d7-a793-cb379acf0c57.png align="center")

The **cumulative distribution function (CdF)** of his PnL is positively skewed (skewness: 4.19), with a positive edge since the lower percentiles:

* **25th percentile:** W/L ratio of 1.13 ($4.4k vs $-3.9k)
    
* **50th percentile:** W/L ratio of 5.64 ($67.7k vs $-12.0k)
    
* **75th percentile:** W/L ratio of 3.86 ($128.7k vs $-33.3k)
    

![](https://cdn.hashnode.com/res/hashnode/image/upload/v1727289591277/5ea2896e-a270-4239-a081-4518d45f5a72.png align="center")

## 3.2. Position Case Studies

### ETHUSDT - Flip flopping

* **Side:** Short
    
* **Trades executed:** 3812
    
* **Max DD ($):** -$158k
    
* **Final Pnl ($):** +$1.7M
    
* **ROI (%):** 15.6%
    
* **Holding Period:** ~5.25 days
    

This was jez's most profitable position, generating a total profit of $1.7M, which **accounted for 46.8% of his total PnL**. He began building the short position just below the resistance level in the $3,300-3,400 range and closed it following a decline of over 20%.

![](https://cdn.hashnode.com/res/hashnode/image/upload/v1727289637708/f7ac237e-affa-46b4-b70e-a9d3c7fe8807.png align="center")

jez began building the position on July 30th with a notional value of approximately $7.5M. As the price initially rose, he cut one-third of the position, but when the price returned to his average entry level, he increased his size again. Eventually, as $ETH's price started to decline, jez simply needed to remain patient and follow the market. At its peak, the position was worth over $10M. Jez eventually started closing it out in the $2800-2600 range.

![](https://cdn.hashnode.com/res/hashnode/image/upload/v1727289659299/e7640e7f-0443-4352-bb64-85850381ed73.png align="center")

# **4️⃣** Trader Spotlight: TRADERT22

## 4.1. Notional exposure and PnL ($)

TRADERT22 was the most active among the top three traders of the month. With 294 closed positions and an average holding period of less than 3 hours, he managed to achieve total profits of $2.6M.

As shown in the chart below, he frequently alternated between long and short positions, with his **notional exposure typically ranging between -$10M and +$10M**, except for a peak around August 7th when he was short more than $20M. Like jez, most of TRADERT22’s profits were realized during the first week of August, reaching a peak of over $3M.

![](https://cdn.hashnode.com/res/hashnode/image/upload/v1727289731760/c6bda0b5-03b2-4066-9185-626aa8da7efd.png align="center")

The figure below displays, for each closed position in August ‘24, the **PnL ($) by symbol traded and their holding period**.

Although TRADERT22 traded **a total of 25 symbols**, most of his activity was concentrated between $BTC, $ETH, and $SOL.

![](https://cdn.hashnode.com/res/hashnode/image/upload/v1727289747778/f5014143-1bab-49df-bad6-4f0286018d46.png align="center")

The figure below shows the **Total PnL ($) by symbol traded**, confirming that the majority of TRADERT22’s profits, **approximately $2.7M**, were generated from his most traded symbols: $BTC, $ETH, and $SOL.

![](https://cdn.hashnode.com/res/hashnode/image/upload/v1727289767638/8881a536-0fb6-4b14-b515-21a2809bfa58.png align="center")

The **cumulative distribution function (CdF)** of his PnL is negatively skewed (skewness: -1.64), with a positive edge since the lower percentiles:

* **25th percentile:** W/L ratio of 2.15 ($7.1k vs $-3.3k)
    
* **50th percentile:** W/L ratio of 1.26 ($15.2k vs $-12.1k)
    
* **75th percentile:** W/L ratio of 1.44 ($33.5k vs $-23.2k)
    

![](https://cdn.hashnode.com/res/hashnode/image/upload/v1727289784060/41822e53-fe08-4e65-a825-953d56b391b3.png align="center")

## 4.2. Position Case Studies

### BTCUSDT - The road to $1M profit

In August, TRADERT22 closed 105 positions on $BTC alone, achieving a cumulative profit of $1M. Out of these 105 positions, 61, or 58%, were profitable. As depicted in the chart below, he acted swiftly, trading with sizes ranging from $5M to over $10M.

![](https://cdn.hashnode.com/res/hashnode/image/upload/v1727289824499/c785a8d6-36ae-407e-8dd0-5f5435170544.png align="center")

The following image clearly illustrates how TRADERT22’s PnL on $BTC evolved over time. Apart from one significant loss exceeding $400k, **he managed to keep his wins and losses relatively balanced, generally ranging between -$100k and +$100k**. However, he **occasionally capitalized on a few larger wins above $100k, which positioned him to achieve consistent profits over time**.

![](https://cdn.hashnode.com/res/hashnode/image/upload/v1727289838308/cfdb55ac-b926-4495-9ea5-5475273bc876.png align="center")

# **5️⃣** Trader Spotlight: DJ\_

## 5.1. Notional exposure and PnL ($)

DJ\_ maintained a predominantly short position throughout the month, with **exposure ranging from -$5M to over -$10M**. Early in the month, he secured $500k in profit, followed by a relatively flat period until the final days of August when he earned an additional $1M, driven by a short exposure exceeding $10M. As seen in his PnL curve, he experienced minimal to no drawdown during this period.

![](https://cdn.hashnode.com/res/hashnode/image/upload/v1727289881749/adea984e-705d-47e0-880d-7a27bf9b7782.png align="center")

DJ\_ only traded 3 symbols: $BTC, $ETH, and $SOL.

![](https://cdn.hashnode.com/res/hashnode/image/upload/v1727289892509/1af732f8-2b5c-44e4-916f-7ceddd3743d1.png align="center")

The figure below shows the Total PnL ($) by symbol traded, highlighting that $BTC was the primary contributor to DJ\_’s profits, accounting for $1.1M out of his total $1.3M earnings.

![](https://cdn.hashnode.com/res/hashnode/image/upload/v1727289914957/f82e498f-183a-4219-beba-9ce099594616.png align="center")

## 5.2. Position Case Studies

### BTCUSDT - Key position contributes 54% to Overall profits

* **Side:** Short
    
* **Trades executed:** 4848
    
* **Max DD ($):** -$255k
    
* **Final Pnl ($):** +$709k
    
* **ROI (%):** 6.7%
    
* **Holding Period:** ~7 days
    

This $BTC short position contributed 54% of DJ\_’s total profits for the month. With a **maximum notional exposure of $10.5M**, he achieved a **return of 6.7%, or $709k**, over the course of a week.

DJ\_ initiated a small position on August 22nd and continued averaging up as the $BTC price climbed from $60.5k to $65k. At this point, his average entry price was just below $63k, leaving him temporarily underwater by approximately $255k (2.4% of his exposure). However, around August 27th, the $BTC price began to drop sharply, allowing DJ\_ to gradually close his position in the $58-59k range.

![](https://cdn.hashnode.com/res/hashnode/image/upload/v1727289947434/2dccf26d-20ce-4391-bbfe-5f1be2bc642c.png align="center")

Worth noting, out of 10 positions on $BTC, while most offset each other, DJ\_ needed **only one successful trade to generate the majority of his total monthly profits**.

![](https://cdn.hashnode.com/res/hashnode/image/upload/v1727289964546/c65753a4-c3a4-41ae-a387-5dd92fb2cf1e.png align="center")

# **6️⃣** Conclusion

The top three traders of August posted significant **profits ranging from $1.3M to $2.8M**. While these figures are impressive, it's **crucial to remember that their trading sizes are also substantial, with exposures often exceeding $10M**. Additionally, this analysis only considers the information available about their trades; we do not know their actual capital, which could be much larger.

From a risk management perspective, this is important to keep in mind. Although these traders earned large sums in absolute USD terms, their **returns in relative terms—estimated at 10-30% using their average notional as a proxy—still represent excellent returns on investment but also help put these values into perspective**.

The key takeaway for the month is that, despite differing views and trading strategies, the most critical aspect is **capital preservation (maintaining small wins and losses) while patiently waiting for the occasional significant wins that drive a substantial impact on the PnL curve**.  

Stay connected for more insights in the upcoming month's edition.  
**Follow our highlight traders on Twitter:**  
jez: *please if you know, let us know his twitter handle*  
TRADERT22: *please if you know, let us know his twitter handle*  
DJ\_: *please if you know, let us know his twitter handle*

**Data analysis provided by** [@0xfab\_eth](https://twitter.com/0xfab_eth). Drop him a follow!

**BETA ACCESS:** [https://portal.mirrorly.xyz/beta-application?referralCode=0xfab](https://portal.mirrorly.xyz/beta-application?referralCode=0xfab)

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