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fixed typo: "Stock prices are updated very ~6 seconds." -> "Stock prices are updated every ~6 seconds."
209 lines
9.4 KiB
ReStructuredText
209 lines
9.4 KiB
ReStructuredText
.. _gameplay_stock_market:
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Stock Market
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============
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The Stock Market refers to the World Stock Exchange (WSE), through which you can
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buy and sell stocks in order to make money.
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The WSE can be found in the 'City' tab, and is accessible in every city.
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Fundamentals
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------------
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The Stock Market is not as simple as "buy at price X and sell at price Y". The following
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are several fundamental concepts you need to understand about the stock market.
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.. note:: For those that have experience with finance/trading/investing, please be aware
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that the game's stock market does not function exactly like it does in the real
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world. So these concepts below should seem similar, but won't be exactly the same.
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Positions: Long vs Short
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^^^^^^^^^^^^^^^^^^^^^^^^
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When making a transaction on the stock market, there are two types of positions:
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Long and Short. A Long position is the typical scenario where you buy a stock and
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earn a profit if the price of that stock increases. Meanwhile, a Short position
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is the exact opposite. In a Short position you purchase shares of a stock and
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earn a profit if the price of that stock decreases. This is also called 'shorting'
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a stock.
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.. note:: Shorting stocks is not available immediately, and must be unlocked later in the
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game.
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Forecast & Second-Order Forecast
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^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
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A stock's forecast is its likelihood of increasing or decreasing in value. The
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forecast is typically represented by its probability of increasing in either
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a decimal or percentage form. For example, a forecast of 70% means the stock
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has a 70% chance of increasing and a 30% chance of decreasing.
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A stock's second-order forecast is the target value that its forecast trends towards.
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For example, if a stock has a forecast of 60% and a second-order forecast of 70%,
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then the stock's forecast should slowly trend towards 70% over time. However, this is
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determined by RNG so there is a chance that it may never reach 70%.
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Both the forecast and the second-order forecast change over time.
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A stock's forecast can be viewed after purchasing Four Sigma (4S) Market Data
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access. This lets you see the forecast info on the Stock Market UI. If you also
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purchase access to the 4S Market Data TIX API, then you can view a stock's forecast
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using the :js:func:`getStockForecast` function.
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A stock's second-order forecast is always hidden.
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.. _gameplay_stock_market_spread:
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Spread (Bid Price & Ask Price)
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^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
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The **bid price** is the maximum price at which someone will buy a stock on the
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stock market.
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The **ask price** is the minimum price that a seller is willing to receive for a stock
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on the stock market
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The ask price will always be higher than the bid price (This is because if a seller
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is willing to receive less than the bid price, that transaction is guaranteed to
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happen). The difference between the bid and ask price is known as the **spread**.
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A stock's "price" will be the average of the bid and ask price.
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The bid and ask price are important because these are the prices at which a
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transaction actually occurs. If you purchase a stock in the long position, the cost
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of your purchase depends on that stock's ask price. If you then try to sell that
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stock (still in the long position), the price at which you sell is the stock's
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bid price. Note that this is reversed for a short position. Purchasing a stock
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in the short position will occur at the stock's bid price, and selling a stock
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in the short position will occur at the stock's ask price.
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Transactions Influencing Stock Forecast
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^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
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Buying or selling a large number of shares
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of a stock will influence that stock's forecast & second-order forecast.
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The forecast is the likelihood that the stock will increase or decrease in price.
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The magnitude of this effect depends on the number of shares being transacted.
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More shares will have a bigger effect.
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The effect that transactions have on a stock's second-order forecast is
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significantly smaller than the effect on its forecast.
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.. _gameplay_stock_market_order_types:
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Order Types
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^^^^^^^^^^^
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There are three different types of orders you can make to buy or sell stocks on the exchange:
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Market Order, Limit Order, and Stop Order.
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.. note:: Limit Orders and Stop Orders are not available immediately, and must be unlocked
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later in the game.
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When you place a Market Order to buy or sell a stock, the order executes immediately at
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whatever the current price of the stock is. For example if you choose to short a stock
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with 5000 shares using a Market Order, you immediately purchase those 5000 shares in a
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Short position at whatever the current market price is for that stock.
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A Limit Order is an order that only executes under certain conditions. A Limit Order is
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used to buy or sell a stock at a specified price or better. For example, lets say you
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purchased a Long position of 100 shares of some stock at a price of $10 per share. You
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can place a Limit Order to sell those 100 shares at $50 or better. The Limit Order will
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execute when the price of the stock reaches a value of $50 or higher.
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A Stop Order is the opposite of a Limit Order. It is used to buy or sell a stock at a
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specified price (before the price gets 'worse'). For example, lets say you purchased a
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Short position of 100 shares of some stock at a price of $100 per share. The current
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price of the stock is $80 (a profit of $20 per share). You can place a Stop Order to
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sell the Short position if the stock's price reaches $90 or higher. This can be used
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to lock in your profits and limit any losses.
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Here is a summary of how each order works and when they execute:
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**In a LONG Position:**
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A Limit Order to buy will execute if the stock's price <= order's price
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A Limit Order to sell will execute if the stock's price >= order's price
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A Stop Order to buy will execute if the stock's price >= order's price
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A Stop Order to sell will execute if the stock's price <= order's price
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**In a SHORT Position:**
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A Limit Order to buy will execute if the stock's price >= order's price
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A Limit Order to sell will execute if the stock's price <= order's price
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A Stop Order to buy will execute if the stock's price <= order's price
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A Stop Order to sell will execute if the stock's price >= order's price.
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.. _gameplay_stock_market_player_actions_influencing_stock:
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Player Actions Influencing Stocks
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^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
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It is possible for your actions elsewhere in the game to influence the stock market.
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Hacking
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If a server has a corresponding stock (e.g. *foodnstuff* server -> FoodNStuff
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stock), then hacking that server can decrease the stock's second-order
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forecast. This causes the corresponding stock's forecast to trend downwards in value
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over time.
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This effect only occurs if you set the *stock* option to
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true when calling the :js:func:`hack` function. The chance that hacking a
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server will cause this effect is based on what percentage of the
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server's total money you steal.
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A single hack will have a minor
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effect, but continuously hacking a server for lots of money over time
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will have a noticeable effect in making the stock's forecast trend downwards.
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Growing
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If a server has a corresponding stock (e.g. *foodnstuff* server -> FoodNStuff
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stock), then growing that server's money can increase the stock's
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second-order forecast. This causes the corresponding stock's
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forecast to trend upwards in value over time.
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This effect only occurs if you set the *stock* option to true when calling the
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:js:func:`grow` function. The chance that growing a server will cause this
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effect is based on what percentage of the server's total money to add to it.
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A single grow operation will have a minor effect, but continuously growing
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a server for lots of money over time will have a noticeable effect in making
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the stock's forecast trend upwards.
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Working for a Company
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If a company has a corresponding stock, then working for that company will
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increase the corresponding stock's second-order forecast. This will
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cause the stock's forecast to (slowly) trend upwards in value
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over time.
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The potency of this effect is based on how "effective" you are when you work
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(i.e. its based on your stats and multipliers).
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Automating the Stock Market
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---------------------------
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You can write scripts to perform automatic and algorithmic trading on the Stock Market.
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See :ref:`netscript_tixapi` for more details.
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Under the Hood
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--------------
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Stock prices are updated every ~6 seconds.
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Whether a stock's price moves up or down is determined by RNG. However,
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stocks have properties that can influence the way their price moves. These properties
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are hidden, although some of them can be made visible by purchasing the
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Four Sigma (4S) Market Data upgrade. Some examples of these properties are:
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* Volatility
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* Likelihood of increasing or decreasing (i.e. the stock's forecast)
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* Likelihood of forecast increasing or decreasing (i.e. the stock's second-order forecast)
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* How easily a stock's price/forecast is influenced by transactions
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* Spread percentage
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* Maximum price (not a real maximum, more of a "soft cap")
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Each stock has its own unique values for these properties.
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Offline Progression
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-------------------
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The Stock Market does not change or process anything while the game has closed.
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However, it does accumulate time when offline. This accumulated time allows
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the stock market to run 50% faster when the game is opened again. This means
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that stock prices will update every ~4 seconds instead of 6.
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