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Get Paid
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Posted - 2010.04.14 04:18:00 -
[1]
Edited by: Get Paid on 14/04/2010 04:18:15 Ive been doing some trading since i started eve as it is the only way Ive ever been able to make a sizable amount of isk with out making my eyes bleed and breaking my neck and blow immense lines of ******* to stay awake.
Awhile back reading the MD forums i saw someone post a challenge to start of with 5 thousand isk and see what you can turn it into. Being a few billion isk richer Ive decided to try this and i want to grief the MD forum with such nonsense :)
My characters skills are:
Accounting 4 Broker Relations 4 Day Trading 2 Margin Trading 3 Retail 3 Trade 5
The rules for my challenge are:
I have 5,000 isk to start. I must stay in Jita 4/4. I cannot un-dock. I can ONLY use the market, i cannot use contracts. I attempt to make a post once per-day with what i traded and a estimated profit. I will consider this challenge completed once i have reach 100 million isk.
Ill be the first to say it... COOL STORY BRO! If anyone else out there is up for this challenge post your earnings here!
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Alice Celadon
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Posted - 2010.04.14 04:26:00 -
[2]
Been done about four times. I'm too lazy to find the threads. Try not to burn out and make more than two bil in a month and you'll be the new record holder.
Your next challenge will be to make more isk/ingame hr than a minimum wager.
=d
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Taram Caldar
Royal Black Watch Highlanders
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Posted - 2010.04.14 11:55:00 -
[3]
Yep I believe the current record is about 2bil in a month from a start of 5,000 isk on a newbie alt with no advantages other than already acquired in-game knowledge.
Market Alerts Mailing List
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Marshiro
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Posted - 2010.04.14 13:43:00 -
[4]
I wonder if this is when the "the hours I play eve is not real time" concept comes in.....
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Get Paid
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Posted - 2010.04.15 02:52:00 -
[5]
day 1: I started out after making this post with high hopes of making a few hundred thousand isk. After a few hours my hopes were crushed with reality of how this is going to be a slow starting process.
i started off trading antimatter s for a quick few thousand isk and gradually earned enough to start buying Radio s. making around 10k isk per unit. today the market has been slow and im sitting on around 250,000 isk from my orignal 5,000. This is a very slow start and im already feeling the grueling effects and hope this picks up faster.
Been researching a few other items and hopefully will have enough isk to trade them tomorrow.
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Professor Leech
Transmetropolitan
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Posted - 2010.04.15 02:59:00 -
[6]
You could have fudged this a little bit by starting day one at the start of the weekend to get some turnover.
Originally by: Crawe DeRaven this thread is obviously going places
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Julian Koll
The Kollektive
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Posted - 2010.04.15 09:29:00 -
[7]
you know what, for the lulz i'm gonna join your challange, using one of my 800k sp trade toons, also starting with nothing but 5k isk and a noob frig.
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Louise Talonstar
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Posted - 2010.04.15 11:20:00 -
[8]
I will follow this thread with great anticipation.
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Donny Maurasi
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Posted - 2010.04.15 13:12:00 -
[9]
Sir, today is your lucky day. Please just send me the ISK you have made so far and I will double it.
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Julian Koll
The Kollektive
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Posted - 2010.04.15 22:51:00 -
[10]
It saddens me to say i have broken the rules of this challange. Somehow, the point about not leaving Jita 4-4 must have passed me. As it is, i have to admit, i made my first 300k today redistributing dog tags in about 3 regions, which gave me a nice boost isk-wise. Those 300k isk i took to jita, and as i write this they are 1024k isk now, with the majority in buy and sell orders. Anyways, even being a cheater on this challenge, i will continue to try and reach the magic billion. Curious how long thats gonna take.
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Coyote Guyver
Minmatar Easy Co. Important Internet Spaceship League
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Posted - 2010.04.16 02:44:00 -
[11]
friendly bump for friendly and awesome op :) GL with your challenge! reading intently
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Get Paid
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Posted - 2010.04.16 02:58:00 -
[12]
Edited by: Get Paid on 16/04/2010 03:05:00 im drunk took the day off. glad to see other people are up to the challenge even if they make their own rules!
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Rink Rat
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Posted - 2010.04.16 14:09:00 -
[13]
I started about a year ago with no clue about the game did the tutorial missions and started trading with around 1 million i have now been playing for around a year and a half and now trade in the billions. It is very hard to make good isk without leaving Jita that may be your only fail when it comes to your lis off rules. Good Luck
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RentableMuffin
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Posted - 2010.04.17 06:00:00 -
[14]
so 5,000 -> 1,000,000,000 has been done before, why not just go and take that few billion and do the same, should end up with 400,000,000,000,000 at the end ^_^
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Khayos
Caldari United Enterprise
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Posted - 2010.04.17 06:24:00 -
[15]
Hi all.
I would love to see this done with a completely new character, someone who hasn't played EVE before. Like a blog to go from Base new player to 1Bilion ISK and see how long it takes and if it can be done and how they did it, obviously other rules would apply but it would maybe make people feel a bit more at ease when dipping into the trading market.
I myself want to but seem to think I need to 'plan' everything first. (upbringing I guess) but sometimes I get the jist from talking in game and some posts about the forums that trading, especially the trading to earn a lot, not just your everyday, sold some stuff player, that trading can be a scary place.
A guide detailing hom easy or hard it can be for a fresh player to go from 0 to hero would maybe be nice.
Regards,
Khayos
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Get Paid
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Posted - 2010.04.17 17:06:00 -
[16]
Day 2-3:
It seems being intoxicated while trading was making the right move. Profits and market activity were good the past two nights netting me a quick few million isk. Gremlin rockets and radio s moved nicely and provided a steady income. But it was really the Maulus i had picked up cheap and sold for 100k more then buy purchase price that really brought in the millions.
I look forward to trading sober tonight... or am i?
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Julian Koll
The Kollektive
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Posted - 2010.04.17 20:53:00 -
[17]
cool, you been trading radio s aswell :)
unfortunately i did not really have time to play the last 36h or so, so my progress is not as big as it could have been, however i just broke 9m isk and im positive to double that by tomorrow night.
(have also been following the 'rules' since i docked in jita with 300k)
cheers
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Morolen1
Indigo Bias Severed Hand.
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Posted - 2010.04.18 18:26:00 -
[18]
I am following this thread with interest. ----- I'm a Caldari Nationalist, Fascist is *Such* an ugly word. |
Khayos
Caldari United Enterprise
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Posted - 2010.04.18 21:03:00 -
[19]
Hi all.
I made a new character tonight, Leonard Harvey. He will be doing the experiment above with a slight twist. He will be assuming the role of a new player, I know the EVE basics but never really got into trading. I hope to make a Billion ISK and also want to show that a new player can succeed with some effort, research and goals. I would class myself as the average player, Im 26, got a wife, dog and work (slightly more hours than most, around 14 hours per day atm) so my experiences should be simple to replicate or beat.
I'm going to try and keep this thread updated as much as possible too. I think if I can make a billion anyone can. :-)
Khayos aka Leonard Harvey
PS - bump for Signatures trade discussion channel.
:-)
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AllMarkets Belong2Me
Baby Seal Clubbers
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Posted - 2010.04.19 01:54:00 -
[20]
Sounds interesting, We will follow you?
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Get Paid
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Posted - 2010.04.19 03:48:00 -
[21]
Glad to see other people are getting into it!
Day 4: I got distracted by EOH poker today and didn't put much effort into trading. I mainly traded Probes the Minmatar frigate and made some decent cash. I think by tomorrow the ball will really start rolling i have my eyes on a few items with 3 times the margin and 3 times the volume that i'm trading now.
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Julian Koll
The Kollektive
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Posted - 2010.04.19 21:42:00 -
[22]
Not much time to play today unfortunately, so NAV has not increased in the big steps im used to. 33m isk, give or take.
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Burkah
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Posted - 2010.04.21 12:02:00 -
[23]
Interesting. I'm gonna try it out aswell. But gonna cheat at the start and begin with 100,000 isk because im lazy.
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Khayos
Caldari United Enterprise
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Posted - 2010.04.21 12:43:00 -
[24]
Hi all.
I have been working some insane hours recently so not actually been at home much so not played, so far no change for me. Glad to see more people trying it. I think its nice to go back to the start again and rediscover it all. :-)
Khayos aka Leonard Harvey
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Get Paid
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Posted - 2010.04.22 11:54:00 -
[25]
Originally by: Khayos Hi all.
I have been working some insane hours recently so not actually been at home much so not played, so far no change for me. Glad to see more people trying it. I think its nice to go back to the start again and rediscover it all. :-)
Khayos aka Leonard Harvey
Same for me how ever i bought some items a few days ago in hopes they would go up in price for me to sell today and so far most of the items have gone up a few thousand. Bought some XT-9000 cruise, Large Clarity Ward Booster and 'Malkuth' cruise. In the process of selling these items hopefully they turn me some good isk! |
Khayos
Caldari United Enterprise
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Posted - 2010.04.22 12:55:00 -
[26]
Hi
I managed to get some buy orders up last night (which turned into sell orders this morning) and a few more buy orders up this AM in the car before work. I hope that the sell orders will be sold and the buy orders filled by the time I get home so I can rinse and repeat.
So far, my biggest money spinner has been Ammunition, the only problem I have at the momment is the low volume of orders I can place in respect of quantity. So I buy order 10k and sell 10k, buy order 12k sell 12k etc. I also think this is a good thing as I'm .01 ISKing I think because of the low volume either my competitors are buying me out or not bothering to update their orders to reflect that. Yes its more work but so far its working for me.
Looking forward to finishing work now to check my order. Took a gamble on a Frigate Buy Order, thinking it is quite popular, hopefully my buy order is filled when I get home but the profit margin is in the thousands range so that will give me a tasty boost.
Khayos aka Leonard Harvey
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Julian Koll
The Kollektive
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Posted - 2010.04.22 13:56:00 -
[27]
With the 'Malkuth' Stuff you are definately on the right track. There are lots of Meta-2/3 items with a healthy margin and not-that-much competition. However volumes arnt that big, but for lower investments they are still pretty ok. Talking of capital, i just broke 50m yesterday which will be pretty much it until sunday when i'm back home at a real computer (the thing i got here is just way to slow)
JK
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Khayos
Caldari United Enterprise
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Posted - 2010.04.22 14:38:00 -
[28]
Originally by: Julian Koll With the 'Malkuth' Stuff you are definately on the right track. There are lots of Meta-2/3 items with a healthy margin and not-that-much competition. However volumes arnt that big, but for lower investments they are still pretty ok. Talking of capital, i just broke 50m yesterday which will be pretty much it until sunday when i'm back home at a real computer (the thing i got here is just way to slow)
JK
50m , grats JK, seemingly you're the player to watch. You were on 23ish only a few days ago. I think my trading at lower levels success will suddenly dry up once I get more capital as I said before I think my low volume orders tend to get processed quicker.
Khayos aka Leonard Harvey (Trial account so can't post)
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Khayos
Caldari United Enterprise
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Posted - 2010.04.23 08:50:00 -
[29]
Hi all.
I arrived in Jita after doing the starter Trade and Business tutorial missions (10) buying a few a learning books and the required trade skills.
Industry (to do the mission manufacturing job) Analytical Mind Instant Recall Learning Iron Will Empathy (Iron Will again as I forgot I brought it) Broker Relations
however I managed to sell the Badger I I got as a reward from the tutorial missions for 250k ISK.
I then packed up all my goods and went to Jita.
I started off with Ammunition (Hybrid and Missiles) only buying a few 1000 units. I did put in a Buy Order for a frigate that I thought would move well but I've just been bogged down with them since the Buy Order filed. Sticking mainly with Ammunition for the duration I have been here has been a steady but slow increase, I did move some drones this morning for a 92% Gross Margin which sounds good.
I'm going to be honest, I have very little idea of what a 92% gross margin is, I seem to have lost track of how to calculate if I have been making money as once I get it in, I'm putting it straight back out to a Buy Order. The only way I have been judging my increase is looking at the buy and sell price. For example I place a Buy order for say 4.68 ISK and sell for 8.39 ISK I am hopefully making a profit there, the only thing I haven't been taking into account is the broker fee's and sales tax. (Playing the 0.01 ISK game I sense I could start losing money if I am moving items with a very tight margin.
So this morning (I have a day off) I thought I would play with EMMA and see what numbers it brought up.
The item report since I arrived in Jita says I have a profit of 235k Net Profit
So after 3 days of trading I seem to have made a profit and I ran a NAV report (I don't know why I chose this one as I don't really know what a NAV is, will wikipedia later) but this says I have a NAV of 1,527,105.89 ISK Which looks good.
So things seem to be going OK, any thoughts or suggestions would be very much welcomed, also any criticisms will be taken on board also. :-) I love doing this challenge, its really fun to try and set yourself a goal and work towards it.
I hope all the others trying the challenge are doing just as well.
Khayos (aka Leonard Harvey)
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Julian Koll
The Kollektive
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Posted - 2010.04.23 13:45:00 -
[30]
Again, i would recommend to you to have a close look at the various mods. I cant think of a way that you will ever make acceptable returns with frigates.
For example, i made about 7m alone with trading Tracking Enhancer I (yes, thats the vanilla T1 module), which for some time had it's highes buy at about 11k and its lowest sell at about 100k... you do the math :) It is now pretty much back down to normal margins, but there is the very possibility that more trades like this exist.
JK
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