# Top Traders Report - May '24

📢 The "Top Traders Monthly Report - May '24" is out now! 🚀

Starting from this month it will not only cover profitable traders from the Binance Leaderboard but also from Hyperliquid!

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

May 2024 highlights its top three traders as follows:

🏆 [YoutubeBuyLow](https://www.binance.com/en/futures-activity/leaderboard/user/um?encryptedUid=F8226E3045D255A29C0DB7D90F3026DC) (Binance)

🥈 [andre\_is\_back](https://app.hyperliquid.xyz/explorer/address/0x9cbf099ff424979439dfba03f00b5961784c06ce) (Hyperliquid)

🥉 [purrrr](https://app.hyperliquid.xyz/explorer/address/0xead5b7d86c681c036c59cd00a0390541061c69f2) (Hyperliquid)

May proved to be a bullish month for the crypto market, with $BTC and $ETH seeing gains of 11.3% and 24.8%, respectively. A standout moment came on May 20th, when the unexpected announcement of a high probability for an $ETH spot ETF approval made crypto prices pump. Traders covered this month saw **profits ranging from $477k to $1.5 million**.

Leading the pack is a new entrant from Binance, **YouTubeBuyLow**, who demonstrated a consistent upward trend throughout May, closing with a remarkable **profit of $1.5 million**. It’s important to note that these figures represent only the profits from positions closed during the month; the overall performance of each trader may vary significantly. For example, YouTubeBuyLow's historical performance doesn’t quite match the stellar gains seen in May.

In second place is **andre\_is\_back**, who primarily opened and closed positions in the latter half of the month, achieving a **PnL of $744k**. Lastly, purrrr, despite closing only three positions (all winners) managed to secure **profits of $477k** by the end of May.

![](https://lh7-us.googleusercontent.com/docsz/AD_4nXc2jLlc8Zmy3__mqN1RBoQ8lQnM2yxUz_PCHzawy_oH1EsAtXuRHtQ7rgUYZdBNUx1a86ZdRSa3xGottrUDkpL2keD0Vm0s4GdlZemNwnTSQkg3_7poS4xcsudbcNsyBMNs1wfK-5Z1IViSsI_Jpa2jbfK3?key=crrmZNisnp_GQzoQB_fSiA align="left")

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

**YouTubeBuyLow** closed a total of 12 positions, executing 134 trades with a **91.7% win rate**. However, a unique pattern emerges from the average holding period, which is unusual for the traders we've covered in these reports. Specifically, YouTubeBuyLow **holds losing trades open about five times longer than winning ones**, whereas this figure is typically inverted for other traders. This might indicate suboptimal management of losing positions. Moreover, both the **Profit Factor (0.64) and average Profit-to-Drawdown ratio (0.61)** are generally low compared to other traders covered. This may result from cutting winners short and letting losers run.

**andre\_is\_back**, on the other hand, closed 7 positions and executed 474 trades with the lowest **win rate of 42.3%**, but a **notable Profit Factor of 10.0**. In this case, the average holding period for winning positions is about three times longer than for losing ones, which seems to contribute significantly to the trader’s profitability.

Finally, **purrrr** closed just 3 positions in May, **all wins**, while executing the highest number of trades among the three at 842. This trader maintained an average holding period of about 8.3 days.

![](https://lh7-us.googleusercontent.com/docsz/AD_4nXeVB4yDvkLb3ZBZxNd7WF7FltF8we8nJqKKQKyj4bs_EeIeUhuuTJyzb8oIU62ITu_J5msq3z5uktOWocAzfwoTkLL6Pjyi8fppbH_cNelbW18KQWUr0aBw366h4rSSFG3YQFSaNT94RoD-w6obcRVcpura?key=crrmZNisnp_GQzoQB_fSiA align="left")

# **3️⃣** Trader Spotlight: YoutubeBuyLow

## 3.1. Notional exposure and PnL ($)

In May, YouTubeBuyLow **frequently switched between long and short positions**, but focusing solely on trading $BTC. Out of the 12 positions closed, 58% were long.

His exposure fluctuated significantly, **ranging from +$10 million to -$20 million**. The PnL curve of his closed positions revealed minimal drawdown, with the majority of profits generated in the second half of May, when YouTubeBuyLow maintained a long exposure slightly above $10 million.

![](https://lh7-us.googleusercontent.com/docsz/AD_4nXeOHFQMy4FNsrWzweKPqV9iLPyDfmuvAOTDotKouI2Z3EQD25x98WKB-jFrfvPjjJRpI0TlQUh8W_K2pzsBFHI3C3TxQCAdnwfzOTe-TPdB_UqQp87ExgBSZLGSIKLNBNEr-JPG94yRMCFsW80vGRSGAw4?key=crrmZNisnp_GQzoQB_fSiA align="left")

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

The trader's **greatest loss** occurred at the beginning of the month, while the **largest win** took place in the middle of the month.

![](https://lh7-us.googleusercontent.com/docsz/AD_4nXfwN8Ez5HKSi-LCBUv_kytarc6r6DUnViMajoSBTjrsOdvWFpYhPStoPW9QUFE5r0__UAxHhNEqYEzm95u4oPPh9rTycWPe0SN1V69KnZ_WTPDqTpp5oUuMeqbbVNdl3fL_N5XzXzCQ6_AwhJMbhYhP3ws3?key=crrmZNisnp_GQzoQB_fSiA align="left")

## 3.2. Position Case Studies

### BTCUSDT - Switching Bias

Below is an overview of **all trades taken on $BTC by YouTubeBuyLow in May**. The arrows pointing up or down indicate his frequent shifts from long to short bias throughout the month.

Notably, YouTubeBuyLow's biggest loss and biggest win, marked by red and green rectangles respectively, **both occurred after being deeply underwater**. In the case of the biggest loss, he managed to recover most of it before closing. For the largest win, he turned the position around to close at a profit.

The **winning trade** had a final **PnL of +$750k, contributing to 37% of his total PnL with an ROI of +5.9%**. YouTubeBuyLow entered this trade on May 7th with an exposure of ~$10 million. Initially, the price trended downwards, resulting in a maximum drawdown of about $460k by May 11th. However, the price began to recover quickly, allowing him to close the position on May 17th at a profit.

The **worst trade** mirrored the path of the winning one. YouTubeBuyLow opened the position with an exposure just above $10 million on April 28th. After a brief spike, the price plummeted from $64k to under $58k, putting him at an **unrealizedloss of around $1.2 million**. The price then reversed as quickly as it had dropped, enabling him to close the position at a **reduced loss of $250k, with an ROI of -2%**.

![](https://lh7-us.googleusercontent.com/docsz/AD_4nXePF0QwMVuhaDeYu8648fM0QuDsfUyxF65b4bS_Q9j0_NbjP5GuFwKj0eUMYtwF-ZjPd7d4zA8HoMJmXEV32oc0T7Hw07Amg6Bgd9uYdDtb1thu5ZSx8yPV0mNcLh9i-Tqrd9QvJqmETOTe_nq-iJef689R?key=crrmZNisnp_GQzoQB_fSiA align="left")

# **4️⃣** Trader Spotlight: andre\_is\_back

## 4.1. Notional exposure and PnL ($)

**andre\_is\_back** primarily traded on the long side, closing 5 long positions out of 7 in May, and maintained a **net notional exposure that was consistently net long**. His exposure varied **from -$2 million to +$6 million**.

The bulk of his profits came from an $ETH position opened on May 11th and closed at the end of the month. This key trade significantly boosted his PnL from $0 to +$744k, **in fact it contributed 84.5% to his total PnL**.

![](https://lh7-us.googleusercontent.com/docsz/AD_4nXc5xOf8oXexMNDAvz-k2mVuWwoolEEiRCviUkDwY7SvI_vXmXH0WZuPfO88LH3P5PiePhMBAY46bX6e0j95YvprqIY-Rebwdlm6epuM2w9-hcrVnOunCdqLN7PFhNwkXMvbk_o2226z8Y21Qs1ISXeY0OA?key=crrmZNisnp_GQzoQB_fSiA align="left")

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

![](https://lh7-us.googleusercontent.com/docsz/AD_4nXfWYkEuLeaxf-kWgTBg-Z53AQ92Dy2j7VstLt47nNnGEjePPu1cBTwIjdUEX8TkFhMAosg11IsuMa_sLuLsMQeNDiBsmekpIvJQKzcTPAej4keVCLf6I6eREVFFOkQAnYpMJYFg_jsoFg0LMzGJ82eLp8hu?key=crrmZNisnp_GQzoQB_fSiA align="left")

The figure below displays the **TotalPnL ($) by symbol traded,** where it is evident the impact of a single position on the overall performance.

![](https://lh7-us.googleusercontent.com/docsz/AD_4nXepD4-2HHINSUylsKU7W9uiUvuA7_s5ptuIJOfjTdIDemDRMtruE8eoGgKr5ntAAw_cbj5QxT9tpY2kG-WeXlKMO4WI6U27xSrG_dOl59FyZ1QLlDf57jq0V7cXyk3xDfCH2gkRKccVQ6bFbHJzdGFRXz2R?key=crrmZNisnp_GQzoQB_fSiA align="left")

## 4.2. Position Case Studies

### ETHUSDT - Where 85% of the profits were made

As stated previously, this $ETH trade made the month for andre\_is\_back, **contributing approximately 85% to his total PnL with a profit of $821k**:

* **Side:** Long
    
* **Trades executed:** 208
    
* **Max DD ($): -**$50k
    
* **Final Pnl ($):** $821k
    
* **ROI (%):** 25.0%
    
* **Holding Period:** ~13.8 days
    

As shown below, andre\_is\_back opened the position on a **support area** for $ETH at an entry price of approximately $3000, with a **notional exposure of around $3 million**. The price fluctuated around this support area for a few days, resulting in a **minimal drawdown of $50k** on the position.

![](https://lh7-us.googleusercontent.com/docsz/AD_4nXc4sHBltz_2Z6GzLuTisMjhSgYWbIXil1I3Pl-z-Y2ZF5jh0L0KPE3fWvtxfAv-NChGFJzIp1xNKePazeKRLVH-yaJMIaisPt0aQyFsS6-Q3Nz1JTlf6zil2n-7Paou6SWU6yu5nZzJkyQx5PVEyvN-Rvi0?key=crrmZNisnp_GQzoQB_fSiA align="left")

Around May 17th, $ETH price began a gradual ascent. When the **announcement about the increased probability of an $ETH spot ETF approval came out**, andre\_is\_back quickly added around $200k to his position, capitalizing on the $ETH pump. He started trimming and taking profits from this point until May 25th, when he closed the position entirely after holding it for 13.8 days.

![](https://lh7-us.googleusercontent.com/docsz/AD_4nXf_njohbHmVhbiGEJMeEEsV1gIpy555MsTpNL_HwZqy_Aj_fyFGrJfjEwc8NVRlqff1hUuCbyj5F1a3Ot-6VvOMIvQMXAXg8wCV7IGhARLgP8suJ27o6ByKJBTtIreVPWvcR26IdxMhgMWm9iAPVqEAbLXW?key=crrmZNisnp_GQzoQB_fSiA align="left")

# **5️⃣** Trader Spotlight: purrrr

## 5.1. Notional exposure and PnL ($)

**purrrr** only closed **three long winning positions** by the end of May with a **notional exposure between $1.5 and $3 million**.

Till May 27th his realized PnL was just below $100k but then he closed two positions that made him **close the month with a total profit of $477k**.

![](https://lh7-us.googleusercontent.com/docsz/AD_4nXdaY7rRb4UH7nHrB_2922414V8Lu5aa8qffRpApYgy6VgdVKuVbP0NOPAQxRVnzplkQXEbVPK4klhOfTzX5rVAmK2qwvB372MK0tr02TuS42as4KG2o8ngOFBnpxPhqEBXWPEmmcMiUSWUSbqkGLDGdb9jf?key=crrmZNisnp_GQzoQB_fSiA align="left")

The figure below displays, for each closed position during the month, the **PnL ($) by symbol traded and their holding period**.

![](https://lh7-us.googleusercontent.com/docsz/AD_4nXf4x3Ee6BXLq2BaDGzfJ4qwrGcwnvgqGxUJHfW99GrgUmCsR5wMm3_a0ESvlXYxpZigj1m8dmTlfoe7U6tIaosw2R7ybagy_47mR3y5OO-RmhkWvsXfFHk3GE7jHz4MheYCn0XRCDX8Ii4DUNi6nwzadsE?key=crrmZNisnp_GQzoQB_fSiA align="left")

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

![](https://lh7-us.googleusercontent.com/docsz/AD_4nXcOjc0_ZAVQ9S77XjbFtmcreGs8lRV9mQOBmGWvl4wOQ4SqSZPl_YHl3lYpfjJsrDY6GHwEcCuPCN5q_kBLMc7JbslppoSV6WM5oHGTzY94id3iC6DYmWqWtN0tR6zzrE9pER0hTzUI5YigVGhrpyHY20gJ?key=crrmZNisnp_GQzoQB_fSiA align="left")

## 5.2. Position Case Studies

### ONDOUSDT - Lowest Conviction, Higher Profit

Among the three positions, **$ONDO is the one purrrr allocated the least amount of money to**, with an exposure of $610k compared to $1 million and $2.2 million for $WIF and $ETH respectively. Despite the lower investment, **$ONDO turned out to be the most profitable one**:

* **Side:** Long
    
* **Trades executed:** 554
    
* **Max DD ($): -**$1k
    
* **Final Pnl ($):** $234k
    
* **ROI (%):** 38.0%
    
* **Holding Period:** ~4.5 days
    

As shown below, it appears that purrrr correctly bet on the **reclaim of the previous resistance area**. After consolidating in that area, the price eventually moved in his favor, leading to a profitable outcome.

![](https://lh7-us.googleusercontent.com/docsz/AD_4nXdmZTEcEPJ45p4K_qDlOsu2DvuBlzitvDtXrO0Xyg5S0ZBpDz7_hkimd-FKX8HWKhI8FzTsuzNKTakcaRJEA7TS2w14geRrZdK0Kzbix7_CsqpVOQAt3Q7WB4faQFmwyzBucxdqXQ8vNtlrAjQjQVLpH9Vv?key=crrmZNisnp_GQzoQB_fSiA align="left")

The $ONDO position **contributed 49% to purrrr's total PnL**, with an **ROI of 38.3%** and a **near-zero drawdown**. He opened a $610k long position on May 22nd, and after some sideways movement, the price rose from $0.9 to well above $1.3. purrrr closed the position around $1.25, **securing a profit of $234k**.

![](https://lh7-us.googleusercontent.com/docsz/AD_4nXfNi1pkzSn19ZCkbL1_EA_mvAeB2T6C1RqjFApQ_ZRNa6h-rzSramt83p5BsAvwTk15SfhnlMRgrhrHV30DyB7-GpXJE5J-jtpGpNG23qOcwVF_bqJPLouDzRAWoEK6VDVVxYFbTHatRkH1Yo4G_bNEV33N?key=crrmZNisnp_GQzoQB_fSiA align="left")

# **6️⃣** Conclusion

This month, for the first time, we covered not only Binance Leaderboard traders (YoutubeBuyLow) but also **traders from Hyperliquid (andre\_is\_back and purrrr)**. The three traders covered primarily had a long bias during the month and managed to achieve **profits ranging from $477k to $1.5 million**, despite closing a relatively low number of positions.

Notably, all of them made the **majority of their profits during the second half of the month**, which coincided with the announcement of an increased probability of an $ETH spot ETF approval. This highlights the impact and importance of market news, in particular when unexpected.

FInally, we emphasized that **evaluating a trader's performance solely based on total PnL in absolute terms over a specific period can be misleading**. To make well-informed decisions, it's crucial to consider other metrics and historical data. This comprehensive approach provides a better understanding of a trader's overall skill and strategy effectiveness.

Stay connected for more insights in the upcoming month's edition.

**Follow our highlight traders on Twitter:**

YoutubeBuyLow: *please if you know, let us know his twitter handle*  
andre\_is\_back: *please if you know, let us know his twitter handle*  
purrrr: *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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