Bybit's Trading Journey

[Bybit]

Hello Guys, After reading numerous Journeys here; it's finally time to start my own Journey.

Little Background about me:

I've been trading for around 6+ years now. Saw ups and downs. Account liquidated few times. Now finally for last one year or two I'm seeing more winning trades than loosing ones.

How do I trade ?

I use Bybit Platform for Crypto trading.
My Futures account has a balance of $8k right now.
I risk max $1k per trade.
My win rate is around 88% because I've wider stops.
Every trade will have at least 1:1 risk:reward ratio, that is, I'll be risking $100 to make $100.

I've found these conditions fit my trading style. Every trader has a different style of trading and psychology. It's best to recognize it as early as possible and then work on refining it. I hope this journey would continue for a while and I don't end up blowing this account.

What this journey will include ?

I'll update this thread regularly showcasing my performance on this trading account. I hope in this journey I'll connect with fellow traders here on BHW. I searched few posts and couldn't find a dedicated journey specifically for Crypto Trading. I'll appreciate any suggestions you may have ;I'm all ears.

 

[deppo]

12% risk per trade is huge. You should not be risking more than 5% of your account per trade under any circumstances and anything over 3% should be on 1x leverage.

Your win rate seems way too high, I doubt you can replicate that over a large sample of trades, aka in the hundreds.

Anyways, those really stand out for me, good luck with your journey and do not stop updating it like most members here.

 

[B1TCS]

Good luck

 

[GreenGrass2019]

good luck! I started trading last year and got the awful shortage of august or september 2023 which basically made me lose my confidence in trading. I didn't know at the time that was the best time to buy lol

 

[Bybit]

% risk per trade is huge. You should not be risking more than 5% of your account per trade under any circumstances and anything over 3% should be on 1x leverage.

That’s the max risk per trade. I manually cut my trades way before if I see the idea is violated. Most of my trades are quick scalps and rarely swing trades if I find a good opportunity.

I understand your concern. So far it is working for me. I’ll surely keep these suggestions in mind and implement few changes to polish my strategy.

My max leverage per trade is 5x.

Attaching a screenshot of last ~50 days of trading on this account with $8k balance.

 

[Bybit]

I started trading last year and got the awful shortage of august or september 2023 which basically made me lose my confidence in trading. I didn't know at the time that was the best time t

I totally understand this. Happened to me as well during 2020/2021 period when I missed on some huge gains.

But it’s all about surviving in this market and slowly compounding upwards.

Do you plan to start trading again ?

 

[Salamouna]

Good luck with that
Why you selected bybit to start with

 

[GreenGrass2019]

I totally understand this. Happened to me as well during 2020/2021 period when I missed on some huge gains.

But it’s all about surviving in this market and slowly compounding upwards.

Do you plan to start trading again ?

Not anytime soon, you need to do so much thing with technical analysis. I think there's a great risk to reward there but I don't feel like worrying everyday on whether my analysis was right or wrong all day.

What do you think about stocks like NVIDIA? Do you do that too?

 

[White Night]

can you do an update in google sheet
it will be easier to follow when it come to trading

 

[Bybit]

Why you selected bybit to start with

I really like the User Interface of their Mobile app.

What do you think about stocks like NVIDIA? Do you do that too?

I’m not following NVIDIA. Majorly into Crypto for last few years.

 

[Bybit]

can you do an update in google sheet
it will be easier to follow when it come to trading

Thanks for the suggestion.

I’ll do that definitely. Might update every trade I took or overall weekly update. Let’s see how it proceeds.

 

[Racc00n]

My Futures account has a balance of $8k right now.
I risk max $1k per trade.

I was trading crypto previously but a few "black swan" events took me out of the market. I decided to make some money in OFM niche and jump back to trading but looks like I'm gonna stick with it for now haha.

Long story short, your risk is too great, and you may face some problems in the long term. Right now, we are in a raging bull market, so it should be easier to trade, but downswings with 5-6 losing trades in a row are common. And if you stick with such bankroll management, it's only a matter of time before you will lose it all. It's just math.

Do you stick to majors or play with alts as well?
GLHF anyway

 

[Bybit]

Right now, we are in a raging bull market, so it should be easier to trade, but downswings with 5-6 losing trades in a row are common. And if you stick with such bankroll management, it's only a matter of time before you will lose it all. It's just math.

Yes I understand current conditions are ideal for trading due to cleaner PA. When I say max I’m risking is $1k, it need not be $1k every time. I manually cut trades if I see my idea is violated.

It’s just I provide some room for manipulation which may occur and throw me out of trade, that’s why, all of my trades are “Isolated” with $1k on the line. I trade both ways, long and short. So when it’s a downswing I can still make money.

Do you stick to majors or play with alts as well?

I play alts as well.

 

[PDLProfit]

Wonder how much money you can make on that bullrun

 

[White Night]

my balance down to 50% because of BTC drop today
lol

 

[Bybit]

Wonder how much money you can make on that bullrun

Making money both ways. Bullrun or BearRun

my balance down to 50% because of BTC drop today
lol

You’re holding altcoins or balance went down due to trading ?

 

[White Night]

Making money both ways. Bullrun or BearRun

You’re holding altcoins or balance went down due to trading ?

due to trading

Im long
TRB at 60.767
Zeeta at 0.7211
ROSE at 0.074
BAND at 1.2158
ZRO at 3.85
SOL at 180.66

lol, it all down after a night

 

[Bybit]

due to trading

Im long
TRB at 60.767
Zeeta at 0.7211
ROSE at 0.074
BAND at 1.2158
ZRO at 3.85
SOL at 180.66

lol, it all down after a night

Tough luck. I hope you have a good risk appetite in case these coins drop further.

 

[White Night]

Tough luck. I hope you have a good risk appetite in case these coins drop further.

I just cut all when BTC down to 68K
market is crazy, many people said that it gonna go down a gain
the new pull back is just too small

 

[Bybit]

I just cut all when BTC down to 68K
market is crazy, many people said that it gonna go down a gain
the new pull back is just too small

Well I do think we’re pending one more leg down but I’m expecting a relief bounce to 70k+ first. Let’s see.