I did a lot of research on this about 12 months ago and found a few hidden articles about it.

Basically, I've learned that if the price of HBD is below $1 then it's best to convert because you will get $1 worth of HIVE based on the average price of HIVE over 3.5 days. But I go to convert when it's $0.95 or $0.90 or less!

If HBD is above $1 then you definitely don't want to convert as you will lose value due to the conversion averaging to $1. So in this scenario, it's best to use the internal market if you want to exchange HBD for HIVE.

Rule of thumb for optimal results?

Convert at less than $0.90
Market at greater than $1.10

Not financial advice etc.🙂