Strategy for buying and selling Hive

As you might know from my previous posts that I am following a strategy for buying and selling the ETF. The strategy is simple, buying ETF if the 20 Day Moving Average is less than the current market price and sell it when we have 6% profit.

PC: Pixabay.com

Now I am trying to apply the same strategy in Hive too. As of now I have around 120 HBD, so I will divide that 120 in 20 parts that means I have $6 per day. So I will buy Hive worth $6 everyday. Now the thing is there is some buying strategy. Let's say I have bought Hive for $6 and will not buy until Hive goes down by 3% more. Once it goes down by 3% I will buy again. Now I will continue to buy Hive everyday provided it goes down. If it does not go down then I will not buy for that day.

So now for selling I will sell when it goes up by 3%. Getting 3% profit, I know is not too big but again if it done continously can help me to have that compounding effect. I have not created the sheet for it as of now but will create a Google Sheet for it and will share it with everyone.

In this way I will try to book profit as much as I can and thus can have the compounding effect. I have taken less money that is one 120 HBD to see of this strategy works or not. If it works then we'll and good, if not then I will try to find any other strategy. The thing is we are not getting the strategy to book profit much so now with this strategy I will try to book profit as much as I can.

The only problem I am facing is that Google Finance does not have the Hive USD Ticker as of now.