Previously in the month of May, ByBit held a derivatives trading competition on their platform for South East Asia. Two Filipinos who participated in the event rigorously climbed the leaderboards and openly shared their experience in the event. Rod Stephen Codilla, also known as Prof Loki, and Izanami Trader both placed 9th and 53rd respectively amongst thousands of other talented traders in the SEA region.

Rod’s experience with the competition was a blast. He was confident that all Filipino traders who participated in the tournament did their best to represent their beloved country. Rod believes he did better, as he believes he made avoidable mistakes that affected his performance. Despite being in the business for a long time, it goes to show that anything can happen in trading. Rod considers it a valuable learning experience that will help him come back stronger—not just for the next competition, but as a trader overall.

Izanami Trader felt a lot of pressure as he is not a stranger to participating in these kinds of trading competitions. Izanami believes that this pressure comes from being someone who promotes trading on social media where there’s a good number of people that look up to him. This experience improved his self awareness and being responsible in his own trades. Before gaining experience in trading, 

Izanami would frequently revenge trade and make mistakes similar to novices in trading. But when he started to join competitions, Izanami became more risk-averse and he stuck to his rules by firmly bringing that feeling “someone is watching me” aside from myself outside the competition.

How can Filipino beginners start their cryptocurrency trading journey?

These two experts in trading bring their insights from years of hard work to help beginners understand the experience of cryptocurrency trading.

Rod Stephen Codilla:

Stay a student of the game and never stop learning. Always remember that knowledge is power. Stay coachable, avoid a get-rich-quick or casino mindset, always look at the bigger picture, and invest in learning. When I say 'invest in learning,' I don't necessarily mean monetarily—invest your time, focus, passion, and drive.

However, if you do decide to spend money on courses, mentorship, or similar resources, ask yourself: 'Does this person have the right credibility? What are their achievements? Have they shown actual trades? Have they performed live trading executions using the lessons they are teaching?'

Surround yourself with people who share your mindset (for example, my community). Sharing your ideas and progress with people who don't share your passion or drive might make them think you're bragging, which won't help you grow as a trader.

Always remember that in trading, you don't need a high win rate to be profitable. You can succeed with a 30% win rate as long as your risk management is solid. If you don't understand this, you need to study more. And if you think I'm wrong, perhaps you should try your luck at a casino, because trading isn't for you with that mindset.

Izanami Trader:

The barrier of entry is too low for Filipinos and the numbers don’t lie. The only hurdle is the stigma that scammers inflicted on newcomers. But if someone is reading this I want you to know that you must secure your income stream before diving into trading. 

Also disregard the idea of leaving your work immediately and go full time. Your work / income stream is the life and blood of your trading while you are starting. Don’t reduce your income streams, instead add more and use leverage just like trading.

While different traders have their different strategies on how to win their trades, Rod Stephen Codilla and Izanami Trader go beyond profiting through trading but also contribute to their own communities on how to navigate the world of trading. These expertise partnered with their strong passion has granted them to become South East Asia’s best of the best when it comes to cryptocurrency trading.