30 BTC PNL in 31 days with Bitmex & Deribit
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I’ve been making of my trades and been writing down my thoughts/ideas/analysis in a medium article for the past 31 days. You can see it as a sort of log book ? I guess.
I will be trading on Bitmex and Deribit
If you need more info about futures trading, check out my other articles.
So do you think that trading altcoins is “too n00bish”? Do you finally wanna make big money? Are you ready to finally play with the big boys ?
Then futures trading on Bitmex & Deribit is something for you !
Bitmex is for now the most liquid exchange and goes by several nicknames: Shitmex, Bmex and “sholy shit I’ve never managed to withdraw”
Deribit is a fantastic exchange but no isolated margin yet. Only cross. However better stoploss execution and the spreads are less wide than on Shitmex.
If you don’t have an exchange on 1 or 2 of the exchanges. Make an account. I myself use both exchanges since I like to split my funds in case an exchange gets hacked or Bitmex order submission error shows up again or Deribit has a couple minutes of maintenance.
Please be aware of the risks that comes to leverage trading. If you don’t have years of experience trading, you have no business in playing with the big boys. For newbies it’s basically that they are a bunny and they landed in a cage full with lions.
Warning: referral shill trigger warning
If you register with my link you get a 10% discount BUT also magical luck and my blessings.
https://www.bitmex.com/register/vhT2qm
https://www.bybit.com/en?affiliate_id=6776&group_id=1653&group_type=1
Here I will show you how to ride the trend. Mentally it can be hard but riding the trend out is how big money is made.
Before April 26
I was long before that but had to switch from june28 to sept27 contracts on Bitmex once. Also got deleveraged once.
April 26
Bitcoin crashed from $5452 to $4864
I decided to buy the dip since my long stoploss got hit on breakeven. (well 0.2 BTC loss due to slippage, meaning my profits got back to almost 0).
Anyways also bought some extra contracts on Deribit and also opened more contracts on perpetual swap (accidentally)
My Ethereum position is still underwater but not liquidated (yet)
April 27
It’s 00:15am in the Netherlands. I made a few more trades.
At night I closed the BTC perpetual swap position in profit & opened it again later. The stoploss profit lock was hit, that’s why. I also opened extra long on Deribit Sept27 contracts. From 70k contracts to 100k contracts.
Bought 1000 extra ETHUSD contracts on Bitmex at $152.95
It’s 23:19 and I made some trades during the day.
April 29
It’s 01:47 am here and I made some “trades”. Well I “flipped” my Deribit Sept27 long position into Perpetual swap. Since the Tether FUD the funding rate became negative. Short pay longs, longs get paid.
Bitmex shows: Today, longs will receive 0.0617%, and shorts will pay 0.0617% at 6:00 AM UTC+2
Honestly, I should have opened long positions on Perpetual after that Tether FUD because the funding rate table turned. Anyways I flipped it on Deribit but didn’t touch my Bitmex position at all.
Current situation
May 1
It’s 02:21 here. Daily candle closed, I did not make any trades however the funding fee on Deribit started to pay off a bit. So that’s good. Bitcoin & Ethereum are both going up now. Recovering from tether fud. If I’m not confused, Interpol froze the funds from CryptoCapital. I believe Bitfinex will figure it out. Either Interpol unfreezes the CryptoCapital funds again & Bfx can access those “lost” millions agains or Bitfinex will do an IEO which would probably raise a billion. Enough to cover their losses.
Current positions. This time showing the PNL because it’s less nerve wrecking.
*Showing the PNL only now since it isn’t in a loss anymore
May 2
It’s 23:43 and my positions are looking slightly better. I did not really execute any trades. Still have my long open on Deribit perpetual swap and I still receive BTC for having my long open.
Current situation
Edit: It’s 02:11 and I opened a small dust long on Bitmex Perpetual Swap
May 5
It’s 00:19 and that 2500 contract position got closed at $5547.0 but I reopened the same position at a lower price than I opened. It’s still free 100eu
Bitcoin is hitting a bit of resistance right now. I’m not feeling nervous right now. I’m still aiming at $6.5k
(Edit the 2500 XBTUSD contracts on bitmex sold at 5732.0. Opened 5000 contracts on XBTUSD at $5721.15)
May 7
It’s 00:58 and I did not make any trades. Ethereum went up, pushing my PNL into profit but overall still in a loss due to paying the funding rate. However I’m still holding.
May 9
It’s 20:28 and in the last couple days I broke even on that XBTUSD small trade due to stoploss being hit close to break even. Bitcoin broke out above $6k & I filled some ETHUSD long on perpetual. Unsure when ETHBTC finally moves up.
Current positions
May 12
Bitcoin is above $7k and pumping beyond my expectations. Liquidity pool got hit. My positions remain open because my stops to lock in profits still didn’t get hit.
Current positions
May 12
Bought more BTC on the dip at $6837.70 and $6967
May 15
It’s 02:04, daily candle just closed. I bought some more contracts to flip on Bitmex perpetual swap.
My ETHUSD position starts to look better. LOL at the 0.5 BTC unrealized PNL. Yeah funding rate is bad.
May 16
The 5000 contracts on bitmex sold at $7890
May 18
It’s 00:13 but last night someone sold 2000 BTC on stamp to push BTC price down. Some stops got hit. I made new entries.
ETH stopped out 239.80 and 1 unimportant June28 contract got stopped out.
May 23
Not much changed. Got stopped out on ETHUSD with profit but also swing traded a bit. Not that much money made. Usually 0.05 to 0.1 BTC or something.
However my major positions are still alive.
Edit: ETHUSD stopped out with profit on $245 with a profit of 0.4237 BTC
May 27
Bitcoin made new highs and almost hit the $9000. Still holding my positions. In hindsight I should have used a bigger stoploss on ETHUSD but I just wasn’t sure anymore. Also didn’t wanna be stuck in a sideways move due to the funding rate.
31 days have ended however.
If you want to trade on Bitmex or Deribit (Oh yes, this is definitely going to be a referral shill)
If you register with my link you get a 10% discount BUT also magical luck and my blessings.
https://www.bitmex.com/register/vhT2qm
https://www.bybit.com/en?affiliate_id=6776&group_id=1653&group_type=1
My Deribit account went up a lot. From 1.386 BTC to 15.14 BTC
