STEEM Trading System (Dollar Cost Averaging Experiment) Days 33-34

in #steem11 months ago

STEEMBittrexPrice01032020.jpg

Bitcoin showed us that no matter what it still does what it does. We re-tested those $6,900 support levels before finally rallying back towards $7,400. These sudden, sharp moves are nothing new for BTC, especially when margin traders are getting a little too greedy with their positions.

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Trading strategy rules:

  1. Use approximately 10% of the starting reserves (in BTC) per day to BUY STEEM when the price is BELOW a set value. In this case that will be the moving average (center line) on the Bollinger Bands using 1-Day candles on the chart. Each 10% chunk will be considered a "unit".
  2. Sell ALL STEEM when the price is above the upper range of the Bollinger Bands (1-Day candles), or 10% per day when ABOVE the moving average (1 unit).
  3. After 5 consecutive days of buying, reduce buy quantity in half (5% or 1/2 unit).
  4. If price is within 10% of the ALL TIME LOW, and there is 50% (5 units) or less reserve BTC, then I am allowed to "go all-in".
  5. "Buy below, sell above" is the golden rule.

BlueTendrilBanner.jpg

The Moving Average is back down to 1813 today while the price has dropped through that 1700 Satoshi support. I was able to fill a small buy order at 1695 Sats and am running extremely low on BTC reserves.

Yesterday I filled another buy order at 1727 Sats... Slowly accumulating a good position, ready to offload on the next spike.

Today's Trade:
1/3/2020
Buy 1/2 Unit
Price: 0.00001695 BTC
Quantity: 42.96044549 STEEM
Total Cost (with fees): 0.00073000 BTC

Trade History:

Day 1) Buy 1 unit- Price: 0.00001611 BTC, Quantity: 84.20909241
Day 2) Buy 1 unit- Price: 0.00001636 BTC, Quantity: 82.92227865
Day 3) Buy 1 unit- Price: 0.00001599 BTC, Quantity: 84.84105558
Day 4) Buy 1 unit- Price: 0.00001615 BTC, Quantity: 84.00052500
Day 5) Buy 1 unit- Price: 0.00001592 BTC, Quantity: 85.21410042
Day 6) Buy 1/2 unit- Price 0.00001618 BTC, Quantity: 41.92238809
Day 7) Buy 1/2 unit- Price 0.00001614 BTC, Quantity: 42.02628496
Day 8) Buy 1/2 unit- Price 0.00001632 BTC, Quantity: 41.56275976
Day 9) Sell 1 unit- Price 0.00001670 BTC, Quantity: 84.107
Day 10) Sell ALL units- Price 0.00001824 BTC, Quantity: 462.59148487
Day 11) NO TRADE
Day 12) NO TRADE
Day 13) NO TRADE
Day 14) NO TRADE
Day 15) NO TRADE
Day 16) NO TRADE
Day 17) NO TRADE
Day 18) NO TRADE
Day 19) NO TRADE
Day 20) NO TRADE
Day 21) NO TRADE
Day 22) NO TRADE
Day 23) NO TRADE
Day 24) Buy 1 unit- Price: 0.00001818 BTC, Quantity: 80.10776139
Day 25) Buy 1 unit- Price: 0.00001776 BTC, Quantity: 82.00220170
Day 26) Buy 1 unit- Price: 0.00001722 BTC, Quantity: 84.57369931
Day 27) Buy 1 unit- Price: 0.00001696 BTC, Quantity: 85.87023008
Day 28) Buy 1 unit- Price: 0.00001731 BTC, Quantity: 84.13397471
Day 29) Buy 1 unit- Price: 0.00001800 BTC, Quantity: 80.90883901
Day 30) Buy 1/2 unit- Price: 0.00001783 BTC, Quantity: 40.84013186
Day 31) Buy 1 unit- Price: 0.00001753 BTC, Quantity: 83.07810052‬
Day 32) Buy 1/2 unit- Price: 0.00001724 BTC, Quantity: 42.23779298
Day 33) Buy 1/2 unit- Price: 0.00001727 BTC, Quantity: 42.16442102
Day 34) Buy 1/2 unit- Price: 0.00001695 BTC, Quantity: 42.96044549

Current Holdings:

BTC: 0.00150848 (1 unit)
STEEM: 748.87759807 (9 units)

I have enough BTC to buy for two more days before I have to sit tight and wait for the price to recover. Will we see a bounce soon or will STEEM continue to play games with us?

*Disclaimer: I am not a financial adviser and this is not financial advice. This information is for entertainment and educational purposes only.
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Should bownce hur. I been bine.

Hi @hotsauceislethal!

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I share the opinion that cryptocurrency price markets are too unstable and it is a nightmare to try to predict their behavior, on the other hand, I want to keep some healthy optimism and continue on this steem project, we will see if time shows me That was a good choice or terrible nonsense ..

I think it is a good investment and I like the community that has been created among my acquaintances, the affective part may be clouding my judgment a bit, but after all, I think one of the components to establish the value of a thing is usually subjective :)

ps.
I've been working together with my friend @crypto.piotr and few other guys on non-profit community project build on steem blockchain. It's called @project.hope

Please allow me to share with you link to our latest article, where we're explaining our economy and our goals. Your feedback and comment would be greatly appreciated.

 11 months ago Reveal Comment