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Vahrokh Vain > Technology > Computer > Games > EvE Online > EvE Online – Nitrogen Isotopes – 2012-01-18 – A very profitable trade

EvE Online – Nitrogen Isotopes – 2012-01-18 – A very profitable trade

19 February 2012 By vahrokh

If no reference points would be available, I’d have to wait for the monthly (M) candle bar to close and show a bullish behavior like in the following graph:

 

~1~

where the bar “1” is the past bar (in trend), “2” is the closed bullish PB retracing (RET) on top of the monthly support (M S, in purple) 530. Since the method says I have to wait for the January PB to close, the first trading opportunity would be in February. Too late to take Hulkageddon’s price spike.

 

The trade

But luckily, there was a very strong reference point: M uptrend plus BRN 500. This allows using a PA (price action) method tecnique called Price Action Method (PAM) that basically says that a trader may use a direct PA pattern on a daily chart when it sits on a BRN.

On Jan 17 there is a nice PB sitting right on BRN 500 (see daily graph below).

 

Nitrogen Isotopes daily graph

 In real life (RL) trading I’d put a stop buy order above the PB and the closest bars, in this specific trade it’s at 504 ISK. The stop loss (SL) has to be put below the lowest of the PB minimum (490) and the minimum liquidity level accepted by buyers, established on October 20 2011 at 479.92 ISK (480). Of course in EvE® Online there are neither stop buy orders nor SL orders. Since I am very lazy, I just buy from sell orders that land at that level for the next 2 days. The capital reserved for this trade is 10.08B, for a total of 20M units.

The first target, obviously, is the same BRN 600 that halted the price so hard in December but with some luck it’d be possible to get to 648 ISK. 648 ISK is the level reached on October 15 2011.

The next days price runs its course and past Jan 21 it forms a RM (range market) with support at 514 ISK. A trader following the vanilla course could have entered on the February 4th BUOB at 531 (above the monthly price level). Safety comes at a price.

Looking at the weekly chart we can see how the market reacted quite well.

 

Nitrogen Isotopes weekly graph

 The PB “1” is the week when the trade started and “2” forms a BUOB (very rich traders able to afford weekly bars trading could buy the BUOB with an order at 546). Notice the December 25 2011 bar? It touched BRN 600 with ISK precision. Taking so much liquidity at that level shows that BRN 600 is not just “a” round number but a round number that counts. In fact round numbers are not important “just because they are round” but they become important after the collective of the traders paid them attention.

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Filed Under: Economy and finance, EvE Online, Trading Tagged With: course, EvE Online, free, market, PASR, price action, trading, tutorial, Vaerah Vahrokha, Vahrokh

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Definitioner

1 (OHLC)
Open, High, Low, Close (and sometimes Volume) data, is a finance industry standards format used to represent price evolution during a certain period of time (daily, weekly, hourly...). OHLC data are consumed by financial analysis applications and by charting software to represent price action.
1 (audit)
The general definition of an audit is an evaluation of a person, organization, system, process, enterprise, project or product.
1 (Meta game)
Meta gaming is a broad term usually used to define any strategy, action or method used in a game which transcends a prescribed ruleset, uses external factors to affect the game, or goes beyond the supposed limits or environment set by the game. Another definition refers to the game universe outside of the game itself.
1 (emergent)
Emergent gameplay refers to complex situations in video games, board games, or table top role-playing games that emerge from the interaction of relatively simple game mechanics.
1 (sandbox)
A sandbox game is a type of video game design where a player can roam freely through a virtual world and is given considerable freedom in choosing how or when to approach objectives. Sandbox emphasises a paradigm where, as in a physical sandbox, the user is entertained by his ability to do as they wish creatively and with there being "no right way" of playing the game
1 (discretionary)
A discretionary method is a trading method where little or no mechanical tools and procedures are used to decide the trades. A discretionary trader applies a solid ruleset basing on a flexible interpretation of the market
1 (PLEX)
A Pilot License Extension (PLEX) is an item that adds 30 days of game time to an EvE Online account. It is freely traded like any other in game item. CCP accepts to convert in game PLEXES to real money in case disasters and emergencies happen.
1 (NEISIN)
A New Eden Interstellar Securities Identification Number (NEISIN) uniquely identifies a security. While its structure is identical and strictly compliant with "real life" ISINs, NEISINs are tailored to New Eden investments and contracts.