Cardano Backtesting Results: Athena V2

Since we updated the strategy Athena on Cardano and other top 5 coins in the market. I wanted to share the detailed back-testing results to give more clarity to the users on what to expect going forward.

Here’s how the strategy has performed on Cardano between April 2018 and August 2022

Highlights

1329%
Net Profit

96%
Max Runup

26
Trades

62%
HODL Return

486% Largest winning trade

It might be difficult to comprehend the 4.5 years worth data at a glance, with no real understanding of what really happened. Thus below I have broken it down into two smaller parts to make it more insightful.

April 2018 – August 2020

Cardano was launched in April 2018 @ $0.24 level. After a quick sharp upward movement it started falling consistently to reach $0.03 mark by the end of 2018. Although in 2019 it recovered slightly but nothing major happened until August 2020.

During this whole period that remained majorly bearish while involving few intermittent recoveries, let’s see how Athena performed.

13 Trades

46%
Profitable

24% Max Drawdown

At the end of this period, a $1000 initial capital would have grown to $2997

Here are the trades

TradeTypeDatePriceTypeDatePriceProfit %Run-up %Drawdown %
1Buy20/04/2018$0.288Sell07/05/2018$0.318710.6634.911.46
2Buy17/07/2018$0.1621Sell30/07/2018$0.1551-4.3221.545.07
3Buy18/02/2019$0.046Sell04/03/2019$0.0409-11.099.8511.09
4Buy15/03/2019$0.0506Sell11/04/2019$0.079757.5197.153.83
5Buy16/05/2019$0.0998Sell23/05/2019$0.0755-24.35124.35
6Buy23/06/2019$0.0984Sell27/06/2019$0.085-13.628.6113.62
7Buy18/09/2019$0.0527Sell24/09/2019$0.0456-13.475.4513.47
8Buy28/10/2019$0.0435Sell19/11/2019$0.0416-4.376.37.82
9Buy05/01/2020$0.035Sell16/02/2020$0.05762.86106.61.74
10Buy18/04/2020$0.037Sell10/05/2020$0.046124.59478.92
11Buy18/05/2020$0.0538Sell11/06/2020$0.07743.1268.016.64
12Buy01/07/2020$0.0873Sell20/07/2020$0.118235.458.960
13Buy25/07/2020$0.1388Sell11/08/2020$0.132-4.911.419.37

September 2020 – August 2022

During the 1st half of this period, Cardano witnessed a massive Bull run where it rose from $0.07 mark to reach $3.1 levels. Post this phase the Bearish market set-in resulting into a steep decline bringing the value down to $0.5 levels which continues even till date.

Let’s visualize the performance of Athena on Cardano during this 2 year period involving 1 major bull run and 1 bear run.

13 Trades

30% Profitable

23% Max Drawdown

192% Avg Profit

-11% Avg Loss

At the end of these 2 years, a $1000 initial capital would have become $4770

Here are the trades

No.TypeDatePriceTypeDatePriceProfit %Run-Up %Drawdown
1Buy26/09/2020$0.0999Sell07/10/2020$0.0896-10.316.8210.31
2Buy10/10/2020$0.1068Sell20/10/2020$0.1021-4.474.4
3Buy07/11/2020$0.1128Sell15/11/2020$0.0986-12.590.9512.59
4Buy20/11/2020$0.1139Sell08/12/2020$0.141324.0660.671.4
5Buy28/12/2020$0.1763Sell12/03/2021$1.0337486.33744.024.75
6Buy14/04/2021$1.473Sell18/04/2021$1.1915-19.115.819.11
7Buy06/05/2021$1.5585Sell19/05/2021$1.5-3.7558.493.75
8Buy09/08/2021$1.4955Sell07/09/2021$2.70280.68107.362.57
9Buy09/11/2021$2.298Sell10/11/2021$1.933-15.883.5815.88
10Buy17/01/2022$1.594Sell21/01/2022$1.22-23.462.7623.46
11Buy23/03/2022$1.011Sell06/04/2022$1.1049.223.240
12Buy18/07/2022$0.493Sell27/07/2022$0.4678-5.1111.38.52
13Buy30/07/2022$0.5487Sell19/08/20220.5119-6.718.410.95

Conclusion

For anyone looking to invest in Cardano, Athena is one of the top strategies. It helps you avoid the high volatility while choosing a more smoother road to crypto investments.


Athena is LONG ONLY strategy that doesn’t uses leverage. It works on SPOT Market & thus has relatively lower risk.

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