Me and my friend are newbies and would like to try the following strategy and would love to hear your opinion about it:

It is probably a known strategy which is based on trends, but we don't know how it's called, therefore cannot find info specifically about it.

The concept is:

Whenever the trend goes up we hold the position.
Once it goes down 1% (or any other % that we will set), we are selling it, expecting a down trend.
Then holding to that until it goes up again 1%.

Summary:

   - We hold to it as long as it goes up
   - We sell once it went down at least 1% (expecting a down trend)
        - We buy it again when it went up 1% (expecting an up trend)

In our excel simulation it was almost as good on an up trend and loss was significantly lower on a down trend.

Sorry in advance if the question is very basic.

Here is a small illustration of the concept.
Green arrow - buy
Red arrow - sell

https://pasteboard.co/JLThBHL.jpg