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