📢 The "Top Traders Monthly Report - June '24'' is out now! 🚀
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 ($) - Overview
June 2024 highlights its top three traders as follows:
🏆 andre_is_back (Hyperliquid)
🥈 Metabeem (Binance)
🥉 boink_boink (Binance)
In June, Bitcoin ($BTC) started the month strong, reaching the $73k mark. However, the price experienced a decline, dropping to a low of $58.5k and closing the month with a loss of approximately 7%. Despite this downturn, the top three traders of the month managed to secure significant profits, ranging from $450k to $630k. These traders have been consistently featured in previous reports, underscoring their ability to perform well under various market conditions.
Leading the pack was andre_is_back from Hyperliquid, who climbed from second place last month to finish June with a total profit of $633k. In second place, Metabeem was initially facing losses until mid-month but successfully turned the tide, ending with a profit of $603k. Finally, boink_boink achieved a steady increase in PnL with minimal drawdown, closing the month with around $456k in profits.
andre_is_back closed a total of 12 positions in June, executing 406 trades with a Win Rate of 66.7%. His average holding period spans multiple days, with winning trades kept open 3.7 times longer than losing ones. Notably, he boasts the highest Profit Factor among the top three traders, standing at 36.7.
Metabeem closed 16 positions this month, achieving a Win Rate of 62.5%. His average holding period is the shortest among the three, just over one day. However, similar to andre_is_back, Metabeem's winning trades are held 3.4 times longer than his losing trades.
Finally, boink_boink closed 33 positions in June, executing the highest number of trades at 3,139. He holds the highest Win Rate at 75.8% and maintains the longest average holding period, around a month for both winning and losing trades.
3️⃣ Trader Spotlight: andre_is_back
3.1. Notional exposure and PnL ($)
andre_is_back’s trading activity was predominantly short-biased, maintaining a short exposure for the majority of May and June, reaching a peak notional exposure of over -$4 million. Most of his profits were generated after mid-June, when he began covering his positions and taking profits.
The figure below displays, for each closed position, the PnL ($) by symbol traded and their holding period.
andre_is_back traded a mix of tokens ranging from high caps like $BTC and $SOL to meme coins like $POPCAT and $WIF.
The figure below displays the TotalPnL ($) by symbol traded.
The cumulative distribution function (CdF) of his PnL is slightly positively skewed (skewness: 2.31), with a positive edge since lower percentiles:
3.2. Position Case Studies
WIFUSDT - One good trade is all you need
Side: Short
Trades executed: 12
Max DD ($): -$134k
Final Pnl ($): +$401k
ROI (%): 31.3%
Holding Period: ~37 days
The $WIF short trade contributed 61.7% to andre_is_back’s total PnL ($), generating a profit of $401k with an ROI of 31.3%. The position was held for more than a month and experienced a maximum drawdown of $134k, with peak exposure around $1.3 million.
As shown in the image below, andre_is_back took a short position in a resistance area where $WIF price had been consolidating for some time. Despite an initial decline, prices quickly recovered towards the end of May, rising back to the resistance area and slightly above his entry price. However, andre_is_back held the position, and eventually, the price started to decline, reaching the $2.3 area where he closed the position at a profit, making it the most profitable position closed in June by andre_is_back.
4.1. Notional exposure and PnL ($)
Metabeem had a challenging start to the month, being underwater by over $200k until mid-June. However, he managed to recover all losses and closed the month with approximately $600k in profit. Like other top traders, he maintained a predominantly short exposure, with notionals ranging from -$20 million to $17 million. Notably, Metabeem varied his notional exposure, going to extremes only in certain situations, likely when he had a stronger market view and greater conviction. His most profitable position was a short on $ETH, yielding a profit of $610k and enabling him to recover his losses and end the month in profit.
The figure below displays, for each closed position in April ‘24, the PnL ($) by symbol traded and their holding period.
As usual, Metabeem, likely due to his trading size, primarily traded only four tokens, mostly $BTC and $ETH.
The figure below displays the TotalPnL ($) by symbol traded.
The cumulative distribution function (CdF) of his PnL is positively skewed (skewness: 2.31), with a positive edge since the 60th percentile:
25th percentile: W/L ratio of 0.66 ($13.4k vs $-20.4k)
50th percentile: W/L ratio of 0.96 ($30.3k vs $-31.4k)
75th percentile: W/L ratio of 1.48 ($70.9k vs $-47.8k)
4.2. Position Case Studies
BTCUSDT - Changing bias quickly
In June, Metabeem's positions on $BTC generated a total profit of $260k. The least profitable trade, occurring at the beginning of the month, resulted in a loss of $36k (-1% ROI) with an exposure of $3.4 million. Conversely, his most profitable trade, executed between June 12th and 15th, netted a profit of $134k (+10% ROI) with an exposure of $4.6 million.
As illustrated in the image, Metabeem demonstrated a keen ability to quickly exit positions near breakeven or with minor gains/losses if the price did not move as anticipated. However, when a trade aligned with his expectations, he allowed it to run, maximizing his profits.
5️⃣ Trader Spotlight: boink_boink
5.1. Notional exposure and PnL ($)
the boinkest of boinks! like the other traders covered in this report, maintained a short exposure from the end of April until the first week of June, when he began covering his positions. His maximum short exposure peaked at $4 million.The only long position worth mentioning was a $ETHBTC long between May 19th and June 6th with a notional exposure of $1.1 million.
His PnL rose steadily until the first week of June, when he gave up some unrealized profit. However, by covering his other open positions, he managed to close the month with a profit of $455k.
The figure below displays, for each closed position in June ‘24, the PnL ($) by symbol traded and their holding period.
boink_boink traded the most tickers among his peers, spanning from smaller to higher cap assets, and maintained the longest average holding period. He is also the most active in managing his positions, averaging nearly 100 trades per position.
The figure below displays the TotalPnL ($) by symbol traded.
The cumulative distribution function (CdF) of his PnL is neutrally skewed (skewness: 0.02), with a positive edge since lower percentiles:
25th percentile: W/L ratio of 3.4 ($9.6k vs $-2.8k)
50th percentile: W/L ratio of 2.9 ($19.6k vs $-6.7k)
75th percentile: W/L ratio of 1.8 ($28.8k vs $-16.0k)
5.2. Position Case Studies
WLDUSDT - Managing the average entry price
Side: Short
Trades executed: 1716
Max DD ($): -$3.4k
Final Pnl ($): +$59.8k
ROI (%): 21%
Holding Period: ~36 days
To manage his $WLD short position, boink_boink executed a total of 1,716 trades, frequently varying his exposure. He started with a notional of around $100k and gradually adjusted the position until reaching a maximum exposure of $300k by the end of May. His maximum drawdown was a negligible $3.4k compared to the final profit of $58.8k, resulting in a remarkable 17.6x profit-to-drawdown ratio.
Notably, boink_boink managed to keep his average entry price above the $WLD price while incrementally increasing his position from $6 to $5. As the price started to decline and broke the support area, he began taking profits. This strategy likely allowed boink_boink to start with a smaller, lower-risk position and increase his size as the price moved in his favor, ultimately resulting in a larger, profitable position.
6️⃣ Conclusion
The top three traders of the month exhibited a largely short-biased approach, booking profits between $455k and $630k. The main takeaways from their performance are:
One Trade Can Make or Break a Month: Most trades tend to balance each other out, making it crucial to keep losses small, preserve capital, and wait for the market to offer a few exceptional opportunities. This was exemplified by andre_is_back, whose $WIF position accounted for 61.7% of his total PnL.
Being Flexible Is Key: Markets are unpredictable and difficult to read. The ability to switch biases can be a strength, as demonstrated by Metabeem. He frequently closed $BTC trades near breakeven or with small losses, but a few key trades yielded significant profits.
Effective Position Management: Successful traders often start small and wait for confirmation before sizing up, allowing them to manage risk effectively. boink_boink exemplified this strategy with his $WLD position, gradually increasing his position size as the price moved in his favor, ultimately resulting in substantial profits.
Stay connected for more insights in the upcoming month's edition.
Follow our highlight traders on Twitter:
andre_is_back: please if you know, let us know his twitter handle
Metabeem: please if you know, let us know his twitter handle
boink_boink: https://twitter.com/boink__boink
Data analysis provided by @0xfab_eth. Drop him a follow!
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