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Orionos Irvam
Enso Holdings Inc.
169
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Posted - 2014.03.17 20:42:00 -
[1] - Quote
Firstly, apologies for the stupid question but bear with me...I am new to station trading
I have recently set up an alt to play with station trading. I like the idea that my skies are earning for me when I'm chained to my evil desk at work. From an initial investment of 500 mill I have made about 150 mill profit + some stock over the course of the past fortnight which I'm pleased with.
Tonight I noticed something that I didn't understand and I wanted to ask you MD gurus what was happening. I put a buy order on an item, well below the sell price. An hour later I went to update it and noticed someone had jumped ahead of me in the buy order queue but the price they were buying at was jus 0.01isk below the lowest sell price. Now, I'm sure I'm missing something but what are they doing? If they buy at the price they have put in they would be selling at a loss. Is this some kind of market manipulation? Any hints and insights would be muchly appreciated. |
Kudos12345
Republic University Minmatar Republic
8
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Posted - 2014.03.17 21:31:00 -
[2] - Quote
Yeah it sound , like why not just buy the lowest sell price at that amount, could be someone that wants to chase away other traders from that order, and also at the same time even at that price he could be making money by trading that stuff in another region depending on what it is. |
Erotica 1
Krypteia Operations CODE.
4353
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Posted - 2014.03.17 21:35:00 -
[3] - Quote
14 days for 150m profit from 500m principal? Are you overly diversified or trading in low margin items? See Bio for isk doubling rules. If you didn't read bio, chances are you funded those who did. |
Orionos Irvam
Enso Holdings Inc.
171
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Posted - 2014.03.17 21:42:00 -
[4] - Quote
I wondered whether it was someone trying to scare off competition or sell on else where. Thanks for that.
Just to clarify, I have 150 mill liquid isk, am holding stock worth about 300 mill and buy orders worth about 460 mill. This is after an initial 500mill outlay. My margins range from 4-12%. I'm sure I could be making more if I had more time to research my markets but am happy with what I'm doing. Better what I've made so far, rather than have the isk sitting there doing diddly. |
voetius
BITB Support Services
200
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Posted - 2014.03.17 21:54:00 -
[5] - Quote
it might be someone trying to tempt you into 0.01'ing them and clearing their sell order but that would be more appropriate on high ticket items rather than things that are in your price range (from what you said in the OP). I'd be happy to advise if you want to drop me an eve-mail with details of the item and region :) |
Otto Runkter
Pator Tech School Minmatar Republic
0
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Posted - 2014.03.17 23:30:00 -
[6] - Quote
Nah, here's what almost certainly happened. There were two SELL orders .01 ISK apart (as usual). Someone put in a buy order (not the "buy this" which won't let you put a higher quantity than what's available, but a buy order) for the cheapest, but put the quantity for more than what was available, so he bought what he could, and the rest went in as a buy order. The buyer maybe didn't notice or didn't understand or who knows what. A seller will notice it eventually and fill it for profit, or, perhaps unintentionally, a seller will just .01 ISK the next guy and unknowingly fill the buy order. It won't stay there long most likely. Just put your by order .01 ISK higher than the next order and ignore it til it goes away. If it's something you have in stock just fill it yourself, whether partially or in full depending on how big it is and how much stuff you have in your hanger.
You see this on the buy side too, in fact more often, where there's a sell order for .01 ISK more than the highest buy order. It happens when someone sold a pile of stuff, but the buy order quantity wasn't big enough for it all. If it's something you deal in it's always a fun payday; no waiting, no updating, just buy the stack, relist it, and enjoy! Always at least glance at the sell orders when you're putting buy orders in; sometimes you'll find a deal. The old "never buy from sell orders or sell to buy orders" maxim makes a good point that it's important to understand, but don't take it as a concrete rule. It's more of a trend. If it's profitable, then do it.
I'm sure it's not part of some plot against you or anyone else. If it were it was a very poorly thought out plan, because either you, other competitors, or just people selling stuff are just going to fill it. If someone doesn't like you moving into their turf what they're more likely to do is just .01 ISK you to death. If you do it constantly (and I mean constantly) for awhile you can sort of bully people out of the market. It takes some effort, but it pays off until the next up-and-comer decides to move in on you. |
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