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Thread Statistics | Show CCP posts - 0 post(s) |
Tony Skitrade
Science and Trade Institute Caldari State
0
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Posted - 2011.11.02 23:21:00 -
[1] - Quote
Well, I have tried several different aspects of the game. But never trade. I don't really want to "scam" people per say. But I would like to play the market. Buy low, Sell High sort of thing.
I just created this character and I would like to see what I can turn this 5k isk into just by trading.
What are some trading tips? What are good items to start with? What are some things to watch for?
All tips welcome.
Tony |
egola
NSFW federation
20
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Posted - 2011.11.02 23:32:00 -
[2] - Quote
ammo? if you start with 5k you're pretty limited. |
Elise DarkStar
DarkCorp Capital Group DarkCorp Imperium
126
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Posted - 2011.11.03 00:25:00 -
[3] - Quote
If you're serious about trading, then biomass your "trading character", use a character with some standings, get more standings for the hub(s) you want to trade in, and start with as much money as you have instead of wasting your time with some stupid 5k starting capital gimmick. |
Aimy Louis
Dordogne District Excavation
0
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Posted - 2011.11.03 01:59:00 -
[4] - Quote
While starting with 5k and no standing may not be the fastest way to get money, you forget one thing: fun. It's like using a ship you mined and built, maybe not very efficient but more rewarding. Moreover, chances are that he doesn't even need money thanks to his main and is just looking for a challenge rather than money. |
Emkayu Goffish
University of Caille Gallente Federation
1
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Posted - 2011.11.03 03:19:00 -
[5] - Quote
Check out eve trading, we've got an article and a video to show exactly how to start trading |
JitaJane
Science and Trade Institute Caldari State
7
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Posted - 2011.11.03 06:03:00 -
[6] - Quote
Agree with most of what has been said here about standings and skills. I will make an addendum. Threee toons to an account means that taking the 2 zero skills off of your main and parking them in trade hubs is good for a quick peek at the market (how did you think I got the name 'JitaJane' anyway?). To explain why 5k starting capital is a bad idea let me give you a scenario. You see a buy/sell (direct profit) inequality between 2 trade hubs. It yields a 12% return for a 20 minute trip. If you invest 100K isk you make 12K profit. If you invest 500M isk you make 60 million in 20 minutes. These are random numbers for a random product and we are not considering standings/tax questions covered above. The thing is unless you find a sweetheart of a deal which is usually blind luck you will earn on margins. So you want it to be the margin of a large whole number. Ah and get good with spreadsheets. I'm a Google Docs kind of gal but a lot of folks use Open or Excel... |
malaire
94
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Posted - 2011.11.03 10:18:00 -
[7] - Quote
There are items which can give huge profit with small ISK amounts.
For example "Angel Palladium Tag". Depending on your region and competition you might be able to buy one at 10k ISK and sell for over 500k ISK in right system.
That tag is needed to unlock "bonus room" in level 3 mission "Angel Extragavanza". When missioner realizes that he needs the item, he might easily give 500k for it if he can find it nearby. Also players who dont care about bonus room can sell it cheaply away.
Also, modules which are found in missions as loot can also give nice profit with small ISK amount. Many missioners just sell everything they get from missions for any price.
I started trading by going through market and finding modules where there was big difference between best buy order price and best sell order price (check market details for that) and which were sold regularly at those prices (check market history). |
Nerath Naaris
Pink Winged Unicorns for Peace Love and Anarchy
8
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Posted - 2011.11.03 10:46:00 -
[8] - Quote
If you are low on ISK, then the margin trade skill might be for you (yes, it-¦s not only for scamming). Of course, that skillbook itself is not exactly cheap....
Other than that, I found the more you engage in those 0.01 ISK wars to constantly stay on top of the queue, the quicker the cash comes rolling in, though I guess that is more important in trade hubs than in some backwater system where there is little or no competition. Unbanned since 2011.10.20. |
Lyrka Bloodberry
Berry Os Cereals
13
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Posted - 2011.11.03 11:24:00 -
[9] - Quote
Although I like the idea of starting at 0 and build up everything just through trading, I suggest you mine or do missions for some time to get enough money that trading is worth it. I dont really think trading with 5k ISK can be such fun. But... As you like... Then just get started. Search for items you cann afford and which are needed often. Set buy orders and sell the bought items. It's as simple as that. Everything else you learn from experience. Berry O's Cereals: Yum Yum Yum |
Radelix Cisko
The Forge of Willpower
1
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Posted - 2011.11.03 21:22:00 -
[10] - Quote
Watch, read, listen, learn. Then the market will release it's iskie goodness.
Seriously though I started out with not much more then what you have. I also sat in a frigate with a passive scanner and cargo scanner to see what was moving in and out f Jita 4-4. Next just keep an eye on what was being talked about here and in the other forums. The other things you are going to have to make your own mistakes and learn from them. |
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SabotNoob
Sabot Industries
13
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Posted - 2011.11.03 22:05:00 -
[11] - Quote
I wouldn't throw your entire fortune at trading; you can get wiped out if you make a big enough mistake. Trust me, I see typos in market orders that cost them millions. I experimented with half a billion and had several hundred million set aside in case I lost on my trade ventures.
5,000 ISK is not enough though. You would need several million to make a good start. |
OC 2av2
Science and Trade Institute Caldari State
2
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Posted - 2011.11.05 01:18:00 -
[12] - Quote
You have only 5000 ISK?
Are you joking?
If you are not joking, then how possibly did you get there?
Only completed tutorial missions give about 12 millions of ISK into the wallet, lol...
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flakeys
The Great cornholio's Paper Tiger Coalition
35
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Posted - 2011.11.05 09:26:00 -
[13] - Quote
SabotNoob wrote:I wouldn't throw your entire fortune at trading; you can get wiped out if you make a big enough mistake. Trust me, I see typos in market orders that cost them millions..
No kidding , last one a few weeks back costed me 1.58 B in tax
... no worries i did some sucky sucky , me love GM long time |
Companion Qube
Positive Cashflow through Positive Thinking SRS.
56
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Posted - 2011.11.06 09:14:00 -
[14] - Quote
flakeys wrote:SabotNoob wrote:I wouldn't throw your entire fortune at trading; you can get wiped out if you make a big enough mistake. Trust me, I see typos in market orders that cost them millions.. No kidding , last one a few weeks back costed me 1.58 B in tax ... no worries i did some sucky sucky , me love GM long time We need to start some kind of "sucky sucky I petition my brokers fees ****-up longtime" alliance. |
Kandreath
De Re Metallica Epsilon Shimmy Alliance
5
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Posted - 2011.11.06 20:52:00 -
[15] - Quote
I was like you ! I stated with a 10M loan from my main alt. 5K? Would be a good experiment.
Take a look here for some info. I think it sums up most of the stuff out there. http://wiki.eveonline.com/en/wiki/Market_resources |
OllieNorth
R-K Industries Sexy Alliance
10
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Posted - 2011.11.06 21:09:00 -
[16] - Quote
This is a cool concept, I like the idea of starting from a dead stop. Keep us updated! |
Nor Aken
Deep Core Mining Inc. Caldari State
0
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Posted - 2011.11.06 21:36:00 -
[17] - Quote
Nice challenge indeed. Has been done before though: Link
If you do it, it can be a nice thread on how a beginner would tackle it |
Kara Books
Hedion University Amarr Empire
6
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Posted - 2011.11.09 11:26:00 -
[18] - Quote
Post 1000 ammo at a time, sell off all 5000 units of ammo.
then post 1000 ammo buy orders for assorted ammo of say 5-8 types.
then sell off that ammo once the orders are filled, at that point you should have enough ISK to buy 10K-25K of the ammo you started with.
Now move into 10-20 different items, with small quantity orders, remember, Diversify to as many different items as possible for maximum exposure ( more different items means more of it gets filled)
in 1 month you should have about, 5-10M to play with, Keep doing it, small orders for as many different items as possible, as your wallet goes up, so should the value of the items you are trading go up.
I highly advise you start at the 50M mark if you don't know what you are doing, but if you kinda know what to do then go head and plop 600M and take it slow till you see progress, be patient while you learn!
I started off doing something like that, and now have maybe 9 billion ISK liquid and maybe 15B isk worth. (notice the age of my character, not even 5 months old) |
Dasola
Rookies Empire Rookie Empire
1
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Posted - 2011.11.09 14:52:00 -
[19] - Quote
as someone that has done 5k trade start myself (on alt for just the fun of it), i would recomend doing anything else to get more capital first, you will grow moneywise faster that way.
Its bossible to start with only 5k, but your initial growth is so small you will feel like hitting stone wall.
But if you deside to do this with 5k start, good luck, succeed and live long ;) [Insert something funny or smart here] |
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