The origin of the steamboat series was during the startup period of bots.io. BOTS organized a contest for bot builders, where the steamboat took third place. It has been optimized since then, and some nice variants have been introduces, however, the key principle of this both has not changed. The steamboat series trading algoritms are trend following algorithms, looking to find outperformers during an positive market trend. When the tide changes and the market moves sideways or downwards, the algorithm will close all positions, protecting your investment. This means that there can be prolonged periods where no trades are executed.
At the moment the following variants are available:
Steamboat by Team Cutter
The first version as it joined the competition. A proven algoritm that scans the market for outperfoming coins during an uptrend and waits out the storm if the markets move downwards.It moves steady and evaluates its positions once a week.
Steamboat Prime
Using the similar strategy as the original Steamboat, this variant will become active once it detects an uptrend. The most promising coins are selected. The timing of this variant is different compared to the original, and it will stay in position longer to harvest the most out of each uptrend. It is a bit more careful, better managing your risks compared to the first version.
Steamboat Gold
This Steamboat variant is similar to the Prime variant, however it has one additional feature. Instead of waiting until a new uptrend can be confirmed, this variant will take a position in the PAXG coin. This coin mimics the price of gold. This way, you can benefit from the price movement of gold, which has historically done very well during downtrends. Once an uptrend is spotted, the PAXG is swapped for the most promising coins.