6 days ago
6
If you can only learn one thing from this whale trader on the BitMEX Copy Trading Leaderboard, (Wallet 0x418aa6bf98a2b2bc93779f810330d88cde488888), it would be this:
Cutting bad trades fast and holding good trades for longer is how real money gets made.
Wallet 0x418a is one of the clearest examples of how real money is made during chaos, not during easy up-only days. The trader built a profit of $36m+ during violent times, and sat in winning trades long enough for the big move to finish.This is exactly the type of trader people should look to copy trade on BitMEX.
Behind the $36m+ Track Record
This Hyperliquid leader’s performance on BitMEX gets attention fast: 100% win rate in the past 30 days. $36.2m all-time PnL. $1.2m+ in the past 24 hours. All with large open profits still live.
0x418a didn’t just “get lucky shorting ENA.” The account behaviour shows a repeatable system: he builds positions and takes profit in layers, while keeping core winners open, and using resting limit orders instead of emotional market-chasing.
How does this account produce huge numbers in difficult markets while most traders are getting chopped? They didn’t:
Marry losing trades.
Close winners just because they’re scared.
Need to be right every hour.
Instead, 0x418a chose to stay with the bigger trend.The best part? You can copy trade this whale trader’s exact strategy here.
Studying the Edge
Core Performance
Cumulative PnL (All-Time): $36.2+ million
Current Account Value (AUM): $6.8 Million
Unrealised PnL (Open Profit): $8.0+ Million
Total Trading Volume: $612.8 Million
Risk Management & Capital Efficiency
Sharpe Ratio: 7.84 (Exceptional risk-adjusted returns)
Maximum Drawdown: 21.1% (Managed within a 30-day period)
Position Sizing Discipline:
Leverage: Uses moderate 3.90x average leverage, despite having access to much higher leverage.
Margin Usage: Maintains margin usage below 18%, providing a substantial buffer against liquidation.
Liquidation Buffer: His liquidation prices are significantly distant from mark prices (e.g., BTC liquidation at $98,648 vs mark at $67,541).
Trade Execution and Discipline Quick Loss Cutting:
Median Trade Duration: 2 hours, 26 minutes—indicating a rapid exit from losing positions.
Win Rate (30-Day): 100%—only profitable trades remain open, reinforcing the strategy of cutting losses quickly.
Historical Losses: Only 2 assets historically resulted in a net loss (XPL at -$58,531 and SOL at -$949,125), representing less than 3% of total profits.
Alpha Source: Asset Selection
0x418a demonstrates exceptional selectivity, achieving 100% win rates on their primary asset trades (BTC, ETH, ENA, SUI, DOGE, WLFI, PUMP, LINEA, IP, BNB). Despite having losing trades on ASTER, they maintained net profitability of $1.5 million, showing an ability to scale into winners.
Top 5 Performing Assets:
BTC: 41 trades, 100% win rate, +$10,006,251 profit
ENA: 3 trades, 100% win rate, +$7,556,613 profit
ETH: 1 trade, 100% win rate, +$4,104,002 profit
ASTER: 2 wins, 2 losses (50% win rate), +$1,495,626 net profit
SUI: 1 trade, 100% win rate, +$268,140 profit
Net Losing Assets:
SOL: 0 wins, 1 loss, -$949,125
XPL: 2 wins, 3 losses (40% win rate), -$58,531
Volatility Management Playbook
Chart Analysis: Navigating Multiple Drawdowns
The account value chart reveals strong risk management during violent market moves, such as the early February dip (where account value dropped from approximately $8.7m to $6.1m):
No Panic Selling: Maintained core short positions.
Scaled Winners: Actively scaled into successful shorts as prices fell.
Rapid Recovery: Account value rebounded to over $7.4m within days, capturing the move instead of being caught by it.
Position Management During Crashes:
The Recent Activity feed shows 0x418a's active management style:
Profit-Taking: Consistent partial profit-taking on positions like ENA shorts.
Trimming Edges: Systematic closing of smaller token positions to manage portfolio risk.
Core Strategy: The style is to maintain core large winners (BTC, ETH, ENA) while actively trimming profits and managing risk on the periphery. His gap in duration is the difference between a retail gambler and a professional whale. Most traders do the opposite: they hold losing positions for weeks, hoping for a "bounce" that never comes, while they "paper hand" their winners for a small profit.
0x418a understands the math of survival:
The Quick Cut: If a short position at $100 pumps to $102 within hours, they exit immediately. 0x418a accepts a 2% loss and moves on. Their emotional capital remains intact.
The Long Hold: If a position moves in his favour, he ignores the noise. 0x418a sits through 15% relief rallies and volatility. By holding for weeks instead of hours, they capture the entire trend.
Case Study: Shorting the ENA Euphoria
In July 2025, Ethena (ENA) was the market darling. The narrative was perfect: a $360 million capital raise for NASDAQ listing DAT, fee switch, and a growing TVL for USDe. Every analyst called for a break of all-time highs.
On 23 July 2025, 0x418a started a massive short on $ENA with an average cost of $0.67. He saw a structural short opportunity that became obvious in hindsight:
USDe subsidy: USDe supply had surged 75% in a single month—however, it was driven more by unsustainable subsidies, not organic demand.
Fee switch death spiral: The protocol relied on positive perpetual funding rates and higher yield than competing stablecoins. Although the fee switch was bullish, it sacrifices the USDe holder's yield which is the backbone of the protocol.
The DAT bubble: DAT quickly became a bubble with many DATs’ mNAV trading below 1 and unable to raise more capital to purchase tokens.
0x418a held that position for 79 days. While others were liquidated trying to long the "dips," he watched ENA collapse 83% to $0.11. That single trade generated $9.5 million in total profits. They did not exit when he was up 50%, instead waiting until the structural thesis was complete.
Why You Should Copy This Trader
In highly volatile markets, the average retail trader typically suffers from two fatal flaws: overtrading and trade paralysis when drawdowns hit. This wallet, conversely, appears to have engineered a disciplined system that is active but structurally non-impulsive.
0x418a’s strength is not in anticipating every wick, but in mitigating noise to survive for the multi-week trend. This profile offers a high-utility case study for BitMEX copy trading, as followers are not just mirroring directional bias (short/long), but adopting a robust operational structure:
Optimal Entry Staging: Utilising layered entries to optimise average price exposure, rather than chasing pump tops or capitulation bottoms.
De-risking Mechanics: Implementing staged exits to systematically take profits without emotional all-in/all-out panic.
Limit Order Preference: Relying on prepared resting limit orders, a mechanical approach that minimises market-order slippage and emotional decision-making.
Portfolio Diversification: Spreading risk across a basket of high-conviction trades, avoiding the catastrophic single-asset "hero coin" bet.
Copy the Process on BitMEX
We integrated Hyperliquid lead traders into the BitMEX Copy Trading Marketplace so you can stop guessing and start following their trades on a secure, hassle-free centralised exchange environment.
Start copying wallet 0x418a here: https://www.bitmex.com/app/copy-trading?leader_id=5187685348278773
Start With a Safety Net: Exclusive Copy Trading Protections
To support your transition to professional copy trading, we are offering specific protections:
100 USDT Loss Coverage: If your first copy trade is a loss, we will cover it up to 100 USDT.
Copy Trade to Earn: Hit volume targets by following top traders and unlock up to $800 in trading credits as part of the BitMEX Grand Ascent.
Cashback: Receive 10% cashback on your initial deposit when you move funds from a DEX wallet to BitMEX.
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