- Got a great direction to pursue regarding a stock strategy. Looking for buying strong trends on pull backs and riding them up to just above new highs. Sounds simple but programmatically identifying price levels is a bit interesting. Need to code up a simple Fibonacci retracement and extension library first before I can finish testing. I hope to use fibs to gauge entry points since I think they are better then choosing an arbitrary percent, which I am using and testing now. I plan to filter the trades if the volatility is not large enough.
- I Back tested the new pairs, I have not yet decided regarding how I want to trade them, but they showed promise, specifically the BTC pairs.
- First live stock trades are in motion! Backtesting sujests that
Goals For this Week
- Got some non-trading stuff going on this week so I am just planning on testing and experimenting with my new strategy, might try to intentionally over fit using my AI training script and just see what happens.
Thoughts on this Week
Last week I discussed how I was looking forward to a test of $60k. Well, I was right there was a pickup in volatility for several alts, however they did not end up being profitable trades for me. Non the less half of the previously discussed ETH position was liquidated and profits from that help shore up the account for the day. Needless to say, as these tests continue, I expect more and more volatility. Looking forward to it still. For what I lost in USD I more than stacked in sats fortunately. I fully understand that beating buy and hold for BTC is a daunting task. With this understanding I make sure not to squander the opportunity to trade BTC pairs to acquires more BTC even if minuscule amounts at a time.
Currently holding ETH on a half sized position and LINK on a full size though it is manages by two separate strategies. Not going to lie, BTC lack of momentum has me slightly concerned it could take my alt positions for a ride should it decide to break down.
There will likely be an update to gdax-assistant this week with the new fib library. I will do my best to make sure the use of this part of the library is well documents and ready to go before this time next week.
Have a good week those brave few who ventured far enough down the rabbit hole to find my blog! And Thank you for stopping by.