This is the false sense of security through obscurity. Given the simple algorithm and without any entropy, it will be trivial to crack the password if the hacker has your multiple passwords. This is very possible since you are sticking to the same algorithm for every website but you don't know which website will just store the plain text of the password. One can easily link you among different websites with your user…
This threat only holds for dedicated attackers. 1. They have to have multiple passwords to have a chance to derive the algorithm. 2. They also need to somehow think it's worth their time to reverse the algorithm instead of just going with lower-hanging fruit.
Even if it only applies to dedicated attackers, think about the consequence, once the attacker cracks your password, he knows your algorithm, all your passwords will be exposed.
And the point is the method is not more secure than using the same password for multiple sites.