STEEM Trading System (Dollar Cost Averaging Experiment) Day 30
Today there was a little bit of support in the STEEM prices as we attempted that 1800 Satoshi resistance level again. Volumes are quite low which can be reflected in the daily volatility. Not much can be done at this point but wait for things to pick back up again in the BTC/STEEM markets.
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 at 1840 Sat. and has FINALLY begun to drop for the first time in weeks. This means that the prices are consolidating and will have the opportunity to move back up once demand exceeds liquid supply.
This could happen from a number a catalysts but mainly from the hype surround Justin Sun and Tron. Steem has a long way to go in proving itself and we shall see if it can pick up any new users in the meantime. It hasn't proved that successful in onboarding people in the past, or at least in keeping them.
Today's Trade: 12/30/2019 Buy 1/2 Unit Price: 0.00001783 BTC Quantity: 40.84013186 STEEM Total Cost (with fees): 0.00073000 BTC
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
BTC: 0.00515843 (3 1/2 units)
STEEM: 538.43683806 (6 1/2 units)
Eventually the crypto markets will come back and with a vengeance. We will see a lot of the current alt-coins fall by the wayside as adoption rates weed out lesser projects. Steem is not one of them however...