30 BTC PNL in 31 days with Bitmex & Deribit

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

https://www.deribit.com/reg-572.9826

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 26 positions

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.

My total position on both Bitmex & Deribit

Deribit
Bitmex

This Ethereum position is still looking terrible. This might improves later on if ETHBTC pumps along with an expected BTC pump.

ETHBTC chart April 27

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

Deribit
Bitmex

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

Bitmex
Deribit

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

Bitmex
Deribit
Tradingview Bitmex XBTUSD chart: https://www.tradingview.com/chart/XBTUSD/JoMA9xYN-Liquidity-pool-6-5k-magnet/

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

Bitmex
Deribit

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.

Deribit
Bitmex

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.

Extra ETH longs

Current positions

Bitmex
Deribit

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

Bitmex
Deribit

May 12

Bought more BTC on the dip at $6837.70 and $6967

Deribit

May 15

It’s 02:04, daily candle just closed. I bought some more contracts to flip on Bitmex perpetual swap.

Deribit

My ETHUSD position starts to look better. LOL at the 0.5 BTC unrealized PNL. Yeah funding rate is bad.

Bitmex

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.

Deribit
Bitmex

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.

Bitmex
Deribit

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.

Bitmex
Deribit

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

https://www.deribit.com/reg-572.9826

My Deribit account went up a lot. From 1.386 BTC to 15.14 BTC

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Romano RNR

Derivatives trading, investing, cryptocurrency, stocks, forex, options & volatility - programmer & sysadmin