Yesterday was the most exciting day for Steem in a very long time! We saw a pump of over 50% at one point and the prices have kept up a little bit of momentum since then. Volumes we completely off the charts too with nearly 50 BTC traded in a 24 hr period, compared to our usual 1-2 BTC.
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.
There was yet another long stretch where no trades were made so I decided to lump this week all together in one post. Today the Moving Average is at 1667 Satoshis and the price is actually above the upper ranges of the Bollinger Bands still. I was able to sell everything above this range yesterday, but did not expect that INSANE pump we had to above 2500 Sats. I was still able to capitalize on the move and so far the experiment is a huge success.
Today I can't make a trade until the price settles down and moving averages adjust. Might be another stretch of 5-10 days of no buying as we consolidate.
Today's Trade:
1/19/2020
NO TRADE
Price: N/A
Quantity: N/A
Total Cost (with fees): N/A
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
Day 35) Buy 1/2 unit- Price: 0.00001684 BTC, Quantity: 43.24106598
Day 36) Buy 1/2 unit- Price: 0.00001660 BTC, Quantity: 46.78003785
Day 37) NO TRADE
Day 38) NO TRADE
Day 39) NO TRADE
Day 40) NO TRADE
Day 41) NO TRADE
Day 42) NO TRADE
Day 43) NO TRADE
Day 44) NO TRADE
Day 45) Sell 1 unit- Price: 0.00001697 BTC, Quantity: 83.89000000
Day 46) NO TRADE
Day 47) NO TRADE
Day 48) NO TRADE
Day 49) Sell ALL units- Price 0.00001912 BTC, Quantity: 755.00870190
Day 50) NO TRADE
Current Holdings:
BTC: 0.01582192 (10 units)
STEEM: 0.0 (0 units)
I started this experiment with 0.01367055 BTC 50 days ago and am now up 16% in BTC and over 36% against USD.
Even if Bitcoin had gone down I would probably still be in the profit. Since I am never moving into USD the portfolio is continually gaining value along with the crypto market recovery. Stay tuned for more updates in the near future.