STEEM Trading System (Dollar Cost Averaging Experiment) Days 21-24
We had a quick market fake-out with Bitcoin surging up to the mid $7K range, giving hope to investors that we might break $8K soon.
The prices of STEEM saw a slight rally as a result but quickly fell back to the Moving average after just a few days as the buying volumes have stalled.
For the past three days I did not make a trade but was able to put in a small buy order today.
Trading strategy rules:
- 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".
- 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).
- After 5 consecutive days of buying, reduce buy quantity in half (5% or 1/2 unit).
- 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".
- "Buy below, sell above" is the golden rule.
With the Moving Average slowing creeping up as the price was dropping we have finally met in the middle with a small 1 Unit buy order. Moving Avg seems to be at 1818 Satoshis which is the exact price I paid.
Today's Trade:
12/24/2019
Buy 1 Unit
Price: 0.00001818 BTC
Quantity: 80.10776139 STEEM
Total Cost (with fees): 0.00146000 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
Current Holdings:
BTC: 0.01318835 (9 units) STEEM: 80.10776139 (1 unit)
After checking the portfolio holdings I am still up around 6% overall in fiat value from the start of the experiment.
