📢 The "Top Traders Monthly Report - November '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

November 2024 highlights its top three traders as follows:

🏆 Trader 0x2e2 (Hyperliquid)

🥈 Trader 0x9e8 (Hyperliquid)

🥉 purrrr (Hyperliquid)

November marked a standout month for crypto, with Bitcoin ($BTC) surpassing the $70k milestone and closing at an impressive $96.5k, up 37%. Unsurprisingly, top traders capitalized on this momentum, recording substantial profits between $3 million and $4.6 million. Notably, all three top performers hail from Hyperliquid.

2️⃣ Trader Spotlight: Trader 0x2e2

Trader 0x2e2 closed four positions in November, all at a profit. A medium-term trader with an average holding period of 46 days, it is necessary to go back to September to understand his exposure and PnL over this period.

Since September, he has maintained a predominantly long-only strategy with an average exposure slightly exceeding $10 million. Beginning in early November and continuing through mid-month, he systematically took profits on his positions, realizing total gains of $4.6 million.

Only 4 symbols to gain ~45% in two months on an average exposure of $10 million: $BTC, one dino coin ($ATOM), two memes ($BONK and $BOME).

However, of the four symbols traded, only $BTC and $BONK made a significant impact on the overall profits. Together, these two accounted for $4.4 million, representing 96% of the total gains.

3️⃣ Trader Spotlight: Trader 0x9e8

Trader 0x9e8 exemplifies how a high profit factor can outweigh a low win rate. Despite closing 52 positions in November with only 25% being profitable, the trader achieved a profit factor exceeding 11, resulting in total gains of $4.2 million. This performance, combined with a notable difference in holding periods between winning and losing trades (5.4 days versus 1.8 days), suggests a strategy focused on quickly cutting losses while allowing winning trades to run longer for larger gains.

Similar to the previous trader, Trader 0x9e8 managed substantial capital, with long exposure gradually increasing to nearly $10 million by late October. At the start of November, exposure dropped to almost zero but surged to nearly $20 million after the first week. The majority of the trader’s profits were realized during the second half of November.

The image below illustrates two distinct phases of activity. Up until November, Trader 0x9e8 traded only four symbols across four positions. However, after the first few days of November, he significantly ramped up his activity, increasing both the number of positions and the variety of symbols traded.

The distribution of total profits by symbol is highly asymmetric, with losses tightly capped and wins significantly outpacing losses. Similar to other traders, the majority of profits for this trader were derived from trading just two symbols: $BTC and $PEPE.

4️⃣ Trader Spotlight: purrrr

Among the traders analyzed this month, purrrr stood out as the most active, closing 54 positions with a 72% win rate and a profit factor of 1.45, resulting in a total profit of $3.2 million.

While he engaged in some short positions toward the end of October and early November, his overall exposure remained net long since October. His exposure was more variable compared to the other two traders, fluctuating between $2 million and a peak of $10 million.

By mid-November, purrrr had already secured $1 million in profits. However, the bulk of his gains came during the latter half of the month, when he added another $2 million to his total profits.

Purrrr traded the widest range of symbols, from meme coins to major cryptocurrencies. His biggest win was a long position on $DOGE, held for nearly three weeks. It is actually this position that was the key driver behind the significant spike in his PnL curve after November 10.

The two combined $DOGE positions totaled $2.3 million in gains, accounting for ~72% of the total $3.2 million. The remaining positions contributed a net profit of $0.9 million.

5️⃣ Case Study

Trader 0x2e2 and Trader 0x9e8: same ticker, different timeframes, similar profit

In November, both Trader 0x2e2 and Trader 0x9e8 achieved their largest profits on $BTC, which accounted for 58% and 43% of their total profits, respectively. These positions shared many similar metrics, except for the timeframes in which they were opened and closed.

In the image below, the first rectangle, spanning from September 22 to November 11, represents Trader 0x2e2’s position, while the second rectangle, covering November 4 to November 26, represents Trader 0x9e8’s position.

Trader 0x2e2 opened the position on September 22, gradually increasing it over the following days to reach a maximum exposure of $11 million, with an average entry price of $64.3k. He began taking profits between November 3 and 4, ultimately securing gains of $2.7 million, representing a 24% ROI.

As Trader 0x2e2 was closing his position on $BTC, Trader 0x9e8 was opening one. Starting at $65K, he gradually increased his position while raising his average entry price to $92.9K. Along the way, he took partial profits, maintaining an average exposure of $10 million with a peak of $12.2 million. On November 26, he fully closed the position, securing a total gain of $3.1 million, equivalent to a 26% ROI.

6️⃣ Conclusion

The top traders of November achieved profits ranging from $3.2 million to $4.6 million, leveraging a strong bull market driven by positive macro events, such as Trump’s victory in the U.S. presidential elections.

Despite differences in performance metrics, holding periods, and traded symbols, one recurring pattern among these traders—and consistently observed in these reports—is that the majority of realized profits often come from just a few key trades. This highlights an important lesson: trading is not like a traditional job where a consistent monthly income can be expected. Instead, success in trading relies on consistency, patience, minimizing capital losses, and seizing opportunities during favorable market conditions.

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

Follow our highlight traders on Twitter:

Trader 0x2e2: please if you know, let us know his twitter handle

Trader 0x9e8: 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. Drop him a follow!

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