# Top Traders Report - Dec ‘23

Featuring curated, consistently profitable traders from the Binance Leaderboard.

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

December 2023 unveils its elite trio of trading maestros as follows:

🏆 [Smartestmoneydoteth](https://www.binance.com/en/futures-activity/leaderboard/user/um?encryptedUid=1FB04E31362DEED9CAA1C7EF8A771B8A)

🥈 [0x7777](https://www.binance.com/en/futures-activity/leaderboard/user/um?encryptedUid=C24273C957C95BBC0F6DC14FFD2FB4B1)

🥉 [SOJUBOMB](https://www.binance.com/en/futures-activity/leaderboard/user/um?encryptedUid=C36994A4DA72590400BFBC8884A30DC5)

In December 2023, the race among Binance's top traders tracked by Mirrorly was remarkably close, with **PnLs in a narrow range from $650k to $690k**.

Taking the top spot is **smartestmoneydoteth**, with an impressive profit of over $687k. Known for his unique approach, he trades over longer periods, from weeks to months, unlike his peers who often prefer shorter timeframes. It's important to note that December's figures only include his closed positions for that month. This doesn't account for ongoing trades, such as the recent MKR position, which he closed in early January for almost **$5 million in profit.**

Securing the second spot is **0x7777**, with a notable gain of $682k.

Claiming third place, with a profit of $656k, is **SOJUBOMB**. Notably, this is the third month in a row that he has been featured in our report, following his profits of $236k in October and $200k in November. His consistent presence in the top ranks speaks a lot about his trading ability.

![](https://lh7-us.googleusercontent.com/DDmWY-Qp1HCToAOLT1RAevAvuGpd6Tq8wkWCHlqUula2x_b5rOkgas47ew1p0kO9_VisI2QD07IZqZpG-9lm4Ejpuku4Iw_IRdHsqsx2WcdvwjHzvvOHTCsRn8C79RNDP06ggTJ9nglvHnWqjIQ7c_w align="left")

### 2️⃣ Top 3 Traders - Performance Metrics and Profiles

When examining the main performance metrics of the top three traders, there are notable differences, especially in their average holding periods, which range from just a few hours to several months. This variation is also evident in the number of positions they've closed.

Focusing on other key metrics like Profit Factor (PF), Average Profit-to-Drawdown (Avg. Profit-to-DD), and Sharpe Ratio (SR), it's challenging to fully assess smartestmoneydoteth due to limited data. However, between SOJUBOMB and 0x7777, SOJUBOMB clearly excels, boasting a Profit Factor of 3.88 compared to 0x7777's 1.39.

![](https://lh7-us.googleusercontent.com/oSYJdaSCE2-50XLzFWtPSTJloi6lP_779p-IPWv72cESjX5GrzTxanrywuzetL3fwPxd2NzT61TtNQxswXrirtXhn0mgSISHVTeEZokOttvXLexB5Nwv1JriH55ColiKuylHtBUVHNQ1oy5nc9f0ta4 align="left")

All traders predominantly opted for long-only strategies, adapting to the positive market trend.

Of the three, SOJUBOMB was the only one that engaged in hedging his portfolio, which he often refers to as the "book."

The figure below displays a bubble chart **comparing the maximum notional value ($) and ROI (%) for each trader's positions**. The size of each bubble indicates the contribution of that position to the trader's total realized PnL. For instance, one of SOJUBOMB's positions, as highlighted, had a maximum notional value of approximately $485k, a 67% ROI, and contributed 24% to the total PnL.

This chart can help us gain insights into the position management and risk/return profiles of each trader.

**0x7777** tends to vary the notional value invested significantly while maintaining a relatively low ROI variance. Besides, the contribution of these positions to his total PnL is relatively consistent with a maximum contribution for a single position of 5.3%.

In contrast, **SOJUBOMB** maintains a more stable investment amount but exhibits higher variance in the ROI of his positions, which are positively skewed. Additionally, some of his positions significantly impact his total realized PnL, like the one shown in the chart (24%).

For **smartestmoneydoteth**, the chart offers limited insights due to the scarcity of data points.

![](https://lh7-us.googleusercontent.com/-tfyvivJcsGY-qWw01Y2q1DsmtwJ6LmmlFNpJPfXrUznc0KhFJIFAGmGqUV4MHXWJRm7SYpclBmQ0NPavB7d6QENup6RCTvOjNWMg3EMQ_AbQSgPrFTgBMSZKF1AjWglxoHPgYAor3suct_E7uTwMQE align="left")

The figure below provides a summary of their main **profiles**:

![](https://lh7-us.googleusercontent.com/F0RKLKMeuyVwiWWTTJSFEQ3ZLbbDhOBFIVni-Ag_Vbjf6fgE9qIP6UzizdS9jEZli4_nfeIsRa28IyHhb5bCtvFAd1tXOZtQAcXZjI2FW7K075QoYQCLATOryNihkOWLVX9_AZgsuamBFXrlMJrmmkk align="left")

### 3️⃣ Trader Spotlight: Smartestmoneydoteth

### 3.1. Notional exposure and PnL ($)

smartestmoneydoteth is a name that speaks volumes on its own, requiring no further introduction. In December 2023, he ended the month with realized profits of around $687k.

While the December figures are impressive, they only tell part of the story. His biggest winning positions are often those left open for longer durations, capitalizing on significant market movements. A prime example is the MKR trade, closed in early January for a staggering **$5 million profit**.

This approach underlines his preference for **long-term holdings**, even if it means navigating through periods of drawdowns.

Among the five he closed in December, two trades - **STGUSDT and RDNTUSDT** - were initiated in mid-August. These positions faced major drawdowns (-$650k and -$680k respectively) during their tenure and were eventually closed with just minimal profits (+$136 and +$106k respectively). This pattern demonstrates smartestmoneydoteth's resilience and patience, holding onto positions even through turbulent market phases.

Among the five positions he closed in December, only one, on **BLURUSDT**, emerged as a clear winning trade with a holding period of 6 days and a profit of $447k (22.5% ROI).

Throughout this period, smartestmoneydoteth's **average exposure** hovered around $2 million.

I get the feeling that we'll definitely be seeing smartestmoneydoteth in January's top three report. It'll be fascinating to delve into his long-held **MKRUSDT** position, a trade he maintained with unwavering conviction for months!

![](https://lh7-us.googleusercontent.com/fMMmDpEN90AByCv4ulTGSmuW4uF9GOORI_HnU_Fo1SW95xg7kYBWh--_XRgMvyg1EmSXoonAnreFLGH3QQ9V8Lw1eYoKvJ_txKnc4Xqp2nb3PUBB9LCI4PnKoEhlNWhO1pE1jpyJDRrR2tmWlmxsT2k align="left")

The figure below displays, for each closed position, the **PnL ($) by symbol traded and their holding period** for the month of December ‘23:

![](https://lh7-us.googleusercontent.com/p5izxtOfNRuPpzvB8QuTmI92Gw994LVfBCzNknOp5ODWNA574G7oo9EW8yWtdC01AWA8DZwxZ1SvdkXGFT0FyvALToJeo_QW0FTUD2RqrMl-04m-pS1y81BJCDN4njGmzEE_gR_ExIiEPzG3MbT7ykk align="left")

### 3.2. Position Case Studies

### BLURUSDT - Winning Trade

**Trade Info:**

* **Side:** Long
    
* **Trades executed:** 106
    
* **Max DD ($):** -$169k
    
* **Final Pnl ($):** $447k
    
* **ROI (%):** 22.5%
    
* **Holding Period:** ~6 days
    

He began the BLUR position on December 17th, entering at a consolidation base and gradually scaling up to an exposure of $2 million. As the price hit a resistance level about a week later, he began taking profits, and eventually closed the position between December 21st and 23rd, securing a final profit of $447k.

![](https://lh7-us.googleusercontent.com/AETyHQPXRWKU80S5hnMf6pHRk2xY689F-mb7ga4juGWBxeDTaNDmH3eLI0PPHGgxzEQ5hpQ40_0A0Mzjs6H0RE2J8xu2qfh_nmvMh4zMsUmBa86-YgUzpuRzZ2xQld3IuAGHU9mpJRcfI3XRudUlGPk align="left")

### RDNTUSDT and STGUSDT - The “breakeven” plays

As previously highlighted, it's important to showcase these positions to understand the patience, conviction, and risk management required to trade in the style of smartestmoneydoteth.

Both share a similar timeline, initiated around mid-August and closed in early December, slightly above the breakeven point.

Combined, **these positions experienced a drawdown of about $1.3 mln on a total exposure of $5 mln**, a figure that might seem staggering to many, but likely was factored into the risk assessment of smartestmoneydoteth's strategic planning.

The two figures below show the position management of the two trades, notice the similarities:

![](https://lh7-us.googleusercontent.com/LRT6fLs0qi6AVm72geRNOn8UnLiwafsRbRhAGsSarcw42KBT7NBwHlxQuEjY4tMYzt-61JThYysv43uUGgCSGNHzy8f0i1KaBDXFEeeoN5I3hl82BrjDBxh5o7KJaTRUr5FwqoPCqRaDbTTEJHajafo align="left")

![](https://lh7-us.googleusercontent.com/J5CbsZpPBNYM75H-3misd8_N_7gQtySBGsuyDyaHbVyPyRTS5qQym16GzMUfggv6Bpg35fJyVIC-8_eZrh0vJuv0MhqJYJLMbwBkS9lQtCrIUdiQWwUknTu3iD93QsTG_G8UutPhsgUHHyPyYn656e8 align="left")

### 4️⃣ Trader Spotlight: 0x7777

### 4.1. Notional exposure and PnL ($)

0x7777's trading approach primarily appears to capitalize on short, rapid price movements, swiftly entering and exiting the market (5 hours average holding period) with substantial capital.

Throughout December, his average exposure fluctuated between $1 million and $10 million, likely influenced by his conviction in trades and the liquidity of the tokens involved.

His PnL curve remained relatively stable, except for a significant drawdown of around $260k between December 10th and 15th.

![](https://lh7-us.googleusercontent.com/p5rGuvwvl6PaovNM0FqZrGFpaW_Jq03bmhuB4JSMXwWsqbulwYXAcaFGAQ3nTYA2orDRaDV9I7uquHg0fEgscQ3JWnAOHYspX7_PKoj5lWuIDkekxeLV6RaT8V1jg1SjBwQopFxGH2ep80uT3kAD1qM align="left")

The figure below displays, for each closed position, the **PnL ($) by symbol traded and their holding period** for the month of December ‘23:

![](https://lh7-us.googleusercontent.com/ZxO3-gTZSWyJzfuyB47NCGp4kl0UrcqfAalZhgvZEDt80EyAq64e7LygbNClxrx_PkR2OI6TaWxqKs8MxUX9EKE2XIrl5jx-WhTHs5McOZfIA2DBVOgScL71WzfiBtxZpyiZHFCNKk_WMrVgdGNvJUs align="left")

The **cumulative distribution function (CdF)** of his PnL is positively skewed (skewness: 1.68), with a positive edge since lower percentiles:

* **25th percentile:** W/L ratio of 0.83 ($660 vs $-792)
    
* **75th percentile:** W/L ratio of 1.15 ($14.3k vs -$12.4k)
    

![](https://lh7-us.googleusercontent.com/OMXP_1mzbEx3EcJxlGtTdVP-RDCa_O6M6V6xhi103lobmGalExd7r7cA7XAWtSvbPcYc758fVcWCh07Hfkz_a2H8v5s759vcmd4musqegHXQ1pObYxlLofbyVwbnkR6zBrWuJLDUtgcOcnE3BVQ3c-s align="left")

### 4.2. Position Case Studies

### BTCUSDT - The liquidation trades

In this section, we'll delve into two trades executed by 0x7777 on December 11th and 12th, following the significant liquidation event that caused a nearly 10% drop in BTC value starting December 10th.

To set the scene, the figure below illustrates the liquidation event alongside the trades made by 0x7777. The first trade, marked by red vertical lines, resulted in a loss, while the second trade, indicated by green vertical lines, was profitable.

Despite incurring a total loss of about $10k from these specific trades, 0x7777's overall performance during this period was positive. This underscores his ability to leverage rapid price movements, a key characteristic of his trading approach; specifically for these trades, he initiated a long position following a sweep of the lows.

![](https://lh7-us.googleusercontent.com/AmHkX_2if1UQkQIqvbn3K79-jz-scYi32OfW069YLsXVpJrA_fi7gKFtq_uk4zQvJukThoGYK4M8zW-T3V9vx5TfF1nap09DXrbcydr5_V-E7MuLGVJRIZWIlLUXgnzlCP5AyCtbN4FzT3Vq9MEDFAo align="left")

Below the details and position management of the two trades:

**Losing trade - Opened Dec 11th at 16:40 | Closed Dec 11th at 18:30:**

* **Side:** Long
    
* **Trades executed:** 17
    
* **Max DD ($):** -$111k
    
* **Final Pnl ($):** -$108k
    
* **ROI (%):** -2.4%
    
* **Holding Period:** ~2 hours
    

![](https://lh7-us.googleusercontent.com/cRs40mheevipCGtpu8Wf6lCvenDqcpBwKJRVSW4C0uzcM1-jIbICBmXrwBhRg9MWbkNCTlia3_pXYrwSQ_niu8tQVKRXf4a6vc-to41NHY1VUCPC8unM7nISiTwYOWqIcs5_iSWcq9PazC0QjdX77KE align="left")

**Winning trade - Opened Dec 11th at 19:45 | Closed Dec 11th at 14:55:**

* **Side:** Long
    
* **Trades executed:** 29
    
* **Max DD ($):** -$13.5k
    
* **Final Pnl ($):** $91.6k
    
* **ROI (%):** 1.5%
    
* **Holding Period:** ~19 hours
    

![](https://lh7-us.googleusercontent.com/3KpVDeibIQCBW4qEFuaU2N0yWajzeNmaxsqNTE3MyCTL-kit6Xpl95JhCfJ_nKt7IWKXkmKdv70j9fGJyF2jFTvGzHZLwDhwdufcufWaJShEtOHJuQeGUkkJWi4T1t6TN4E1K4V9egopYEmZxy_rzmw align="left")

### 5️⃣ Trader Spotlight: SOJUBOMB

### 5.1. Notional exposure and PnL ($)

SOJUBOMB, a name that's become synonymous with excellence in trading, features in our report for the third consecutive month.

In December, his equity curve was again notable for its consistent and linear PnL trajectory, displaying minimal to no drawdown and a high **Profit Factor of 3.88**.

Until December 18th, he predominantly maintained long positions. However, by the month's end, he engaged in a **pair trade that he also discussed in his twitter account**. This involved hedging his long position in OP with a short position in ARB, a trade we'll explore further.

Throughout the month, his **average notional value hovered around $250k** **closing the month with a profit above $600k**.

![](https://lh7-us.googleusercontent.com/pzAyMGvkwUkakg0_Jg3159HUaYAlTr5F84E16Jg9uElnaeiQrWVmn9CSCnxSeC4yCnQo0bahys7CPyHjHHa6kzbaPfJFWuqjI4X8zDg6PcPmESk_8OwyCXCIXxzd8EzxcuSFH76EJyDQEhAte4yD_XI align="left")

The figure below displays, for each closed position, the **PnL ($) by symbol traded and their holding period** for the month of December ‘23:

![](https://lh7-us.googleusercontent.com/JhRocmsZayzN9NmL7KIKgy84vVFsGoqfcN3lgkTTFm0O8GPaUbj7OjhBlz0yBTs_VysmWEvfaXbT0_MiVE7FZgOz0ijbY1v3jEz-bfIroq1C42ka-2uUC9GFn2Esx1aBcL6J9SN_yVTh63mHMBx8Jp0 align="left")

The **cumulative distribution function (CdF)** of his PnL is highly positively skewed (skewness: 3.46), with a positive edge since lower percentiles:

* **25th percentile:** W/L ratio of 0.88 ($2.3 vs $-2.6k)
    
* **75th percentile:** W/L ratio of 4.37 ($52.5k vs $-12k)
    

![](https://lh7-us.googleusercontent.com/4z5HqNXlAm4Mf0-Vel-pf6BWgfbT-EOjpA8S0P47UKarkJKPI9E_c-SAFbmlEueCDgnqUEK0-07QhYCPqDLizwBiTIHlcTAvkavddKXxERr0YnhQ3zZKjbH7NRLtUtlaAwz81tLd9sUWQf4ee9YSNoo align="left")

### 5.2. Position Case Studies

### OPUSDT / ARBUSDT - The pair trade

This section will explore SOJUBOMB's pair trade involving OP and ARB during the latter half of December.

The figure below highlights the OP/ARB ratio. It captures the ratio within the timeframe marked by the two vertical white lines, during which there was a notable increase of 46% in OP's relative strength compared to ARB.

SOJUBOMB clearly anticipated it and planned accordingly, betting on OP outperforming ARB. **Despite both OP and ARB experiencing price increases, he managed to secure a total profit of $200k from this trade.**

![](https://lh7-us.googleusercontent.com/60461xwCa8mAdPLofN5BBvf9t3p35zNmrVvxYfjoX8aXEWRHdies9evQjF_SjsU6MdDFwc0I3ofHOAyciwYcEvXlZxKHO5fSswvMv_nLoqhPyEjOijwO8_aKgUxIra-nT4z8wvqqvjk3pD6KNkT3M_A align="left")

Below the details and position management of the trades executed:

**OPUSDT trade - Opened Dec 16th at 19:45 | Closed Dec 28th at 04:10:**

* **Side:** Long
    
* **Trades executed:** 198
    
* **Max DD ($):** -$21.4k
    
* **Final Pnl ($):** +$325k
    
* **ROI (%):** +67%
    
* **Holding Period:** ~11 days
    

![](https://lh7-us.googleusercontent.com/_9RK-etVO6ul6qT8XfZs9XIwIXQDTk1HeShoCYqGBiU3rroOIoM8y3fkWP1JECVxU0ZNGywKf5QFP3Wk5Y2CyEAgPcTrn7YUz8wIq3tpXlSiL_nZwcfuh-5R3z8Io1iz2eOo7vKeGxuVJxsaxa_RC-s align="left")

**ARBUSDT trade 1/2 - Opened Dec 19th at 04:00 | Closed Dec 22th at 06:40:**

* **Side:** Short
    
* **Trades executed:** 4
    
* **Max DD ($):** -$26k
    
* **Final Pnl ($):** -$26k
    
* **ROI (%):** -7.5%
    
* **Holding Period:** ~3 days
    

![](https://lh7-us.googleusercontent.com/TXXiJB5_DaNBOqsHdwGtWgeURwsm9vChhlvRJV0e9jeRMNaQp9n9qE5z6CxFi_IrRAqsMMuKd2hJu6RWNTuMyCifGzqlV2YWpfDllQ-qzLaCN3A_IZZkAC0m2R1sPFLUDEUE-KP6rUbYSz3bOdPiFFs align="left")

**ARBUSDT trade 2/2 - Opened Dec 22th at 09:00 | Closed Dec 29th at 09:35:**

* **Side:** Short
    
* **Trades executed:** 358
    
* **Max DD ($):** -$127k
    
* **Final Pnl ($):** -$99k
    
* **ROI (%):** -17.2%
    
* **Holding Period:** ~7 days
    

![](https://lh7-us.googleusercontent.com/Noqy-xxZbbbO25s0X4-b3cW_qgQhOcfQKw4usD2OM_NiZ9gq8Np7snWJ6iLwgalEc61xXBO7lBmRMw8mhEYMjfromo6ovnTMqs5kF6TzgvV8WgrD2Y9xlmEMmc8GeMve3GpnjPMgXn__3U8eDN6IWrs align="left")

### 6️⃣ Conclusion

1. In this month's edition, we finally feature smartestmoneydoteth, and we anticipate discussing him in the January report, particularly focusing on his MKR position that earned a staggering $5 million in profit.
    
2. Both 0x7777 and SOJUBOMB showcased exceptional performances this month, despite their vastly different trading styles. 0x7777 capitalizes on quick price movements using substantial capital, whereas SOJUBOMB employs robust risk management to manage his portfolio. When it comes to performance metrics, SOJUBOMB distinctly stands out, excelling in both risk management and return.
    

Keep an eye out for our next report, where we will explore these trends and other developments in greater depth. Stay connected for more insights in the upcoming month's edition.

**Follow our highlight traders on Twitter:**

smartestmoneydoteth [https://twitter.com/smartestmoney\_](https://www.binance.com/en/futures-activity/leaderboard/user/um?encryptedUid=1FB04E31362DEED9CAA1C7EF8A771B8A)

0x7777 *let us know if he has a twitter account*

SOJUBOMB  [https://twitter.com/JoshuaDeuk](https://www.binance.com/en/futures-activity/leaderboard/user/um?encryptedUid=1FB04E31362DEED9CAA1C7EF8A771B8A)

**Data analysis provided by the great** [@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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