The GMX Whale Trader’s Impressive Profits and Win Rate
The recent crypto market crash led to significant losses for many traders, but one GMX whale trader managed to make almost $1 million in profit. Here are the key points to know:
1. Profit from the Crash: While most traders suffered from the market crash, the GMX whale trader had a $9.5 million Ethereum short position before the crash. They closed their position at the right time, earning a profit of $992,784. The trade was taken with 40x leverage on the GMX platform.
2. Opening a Long Position: After closing the short position, the whale trader opened an Ethereum long position using 5x leverage. They caught the price at $1,624, and with Ethereum’s price increasing, they are currently sitting on a $159,468 profit.
3. Impressive Win Rate: The GMX whale trader has an impressive win rate over the last two months. Out of 10 trades, they only experienced losses on two of them, resulting in an 80% win rate. Their average profit from these trades amounts to $1.2 million.
4. Still Open Position: The whale trader’s Ethereum long position is still open, and if they were to close it, their win rate would increase to around 82%, with 9 wins out of 11 total trades.
5. Trading Activities: The whale trader has made trades in various cryptocurrencies, including Ethereum (8 trades), Bitcoin (4 trades), LINK (1 trade), and Uniswap (1 trade).
In conclusion, the GMX whale trader has demonstrated exceptional trading skills, earning significant profits and maintaining a high win rate. Their ability to anticipate market movements and make timely trades has resulted in impressive financial gains.
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