Crypto trading tournaments

What can I win in the tournament? In this tournament, there are over 30 prizes available. The top trader can win multiple challenge prizes, with rewards of up to $100,000 in trading challenges. How can I win the tournament? You can win the tournament by achieving the highest PnL. There are specific rules and drawdown limits in place—you just need to follow the trading rules and focus on maximizing your profit. What is PNL? PNL reflects the overall performance of your trading activities. If your PNL is positive, it indicates you've made a profit. If it's negative, it means you've incurred a loss. Traders aim to maximize their PNL, especially in competitions like the HyroTrader Tournament, where the goal is to achieve the highest profit compared to other participants. Example: If a trader starts with $100 and ends with $200, their PNL would be 100%, meaning they have doubled their initial investment. What if I don’t have a ByBit account? If you don’t have a ByBit account, you can register here. You’ll need to create an account and switch to demo trading. Tournament participants will be trading on demo accounts, and KYC is not required for demo trading—however, we recommend completing KYC verification as well. What is restricted during the tournament? Trading Spot, USDC, Inverse Perpetuals, or Options is not allowed in this tournament. Only USDT Futures trading is permitted. Participants are limited to one account (or one sub-account) to prevent multi-accounting and unfair advantages. Strategies involving arbitrage across multiple accounts are prohibited, as they could introduce unfair advantages. Using multiple devices or create multiple identities or accounts is not allowed, as it could skew results. What pairs can I trade during the tournament? Traders can trade all pairs available on ByBit's USDT perpetual contracts. Can I have multiple tournament accounts? No, each trader is allowed only one HyroTrader tournament account. Participants are restricted to one account (or one sub-account) to avoid multi-accounting, which could provide an unfair advantage. What is the Trading Challenge and Cleo Backtesting Platform? The Trading Challenge is an evaluation program by HyroTrader. After successfully completing the challenge, traders have the opportunity to trade on a funded account and keep 70–90% of their trading profits. Winners of the tournament will receive challenge accounts, not funded accounts. These accounts allow them to prove their skills before accessing real capital. The Cleo Backtesting Platform is a powerful tool for crypto traders to backtest their trading strategies. It allows users to simulate trades using historical data and refine their approach. Winners will receive a subscription to the Cleo Backtesting Platform as part of their prize. What happens if I break the trading rules? If you break any trading rules, 0.5% will be deducted from your account, and you will need to start again. For example, if you start with $100,000 in demo funds and break a rule, your account will be reset to $99,500, and any profit you’ve made will be removed. How do I set a stop-loss? Stop-loss orders are essential for limiting potential losses by automatically executing trades at predefined price levels. Traders must set a stop-loss on every position. Additionally, no more than 3% of the initial account balance should be risked per position, meaning the potential loss from a triggered stop-loss must not exceed this limit. If a trader sets a stop-loss with a potential loss greater than 3% of the initial account balance, it will be considered a violation of the trading rules. Traders have 1 minute after entering a trade to set the stop-loss. To ensure it is properly recorded by our monitoring system, the stop-loss must be set as either a Stop Loss or a Trailing Stop Loss on Bybit. Conditional orders or any other order types will not be recognized as valid stop-losses.