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Crom Domison
Relentless Terrorism Separatists
2
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Posted - 2015.08.06 15:11:14 -
[1] - Quote
I've been considering doing some trading for passive income now I have a bit of ISK. I've grown tired of incurisoning to make ISK as its quite time consuming repetitive and attention intensive. I need some expert opinions on whether people think I can make enough income within the below restraints to plex my account each month and maybe make some profit on top of that. I'm a student so my $$ is stretched quite thin.
I have about 4bil to invest. I have one character with some very basic trading skills. I can be online 2-4 hours a night on weekdays, more on weekends. I play in AUTZ.
Please let me know what you thunk
Thanks |
Charlie Drake
Wholesale Transportation Diversified Investments
7
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Posted - 2015.08.06 15:26:35 -
[2] - Quote
You only need to make about 34m per day to plex your account.
With 4b isk you should be able to easly make 50 - 150m isk per day with very passive trading in my experience, if you do it active you can make more, also as your capital grows you will earn more obviously.
I find it better to use one character for trading whle I do pvp and other stuff on another char, but you can ofc do it all on one char, but I can see it being annoying to always have to return to jita or amarr or whatever hub you trade in. |
Bad Bobby
Bring Me Sunshine In Tea We Trust
999
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Posted - 2015.08.06 15:28:30 -
[3] - Quote
Yes.
You have sufficient isk to start with and you'll soon build that up in to more.
There aren't many trading skills, so it doesn't take long to train the ones you actually need.
2-4 hours a night is plenty.
AUTZ best TZ, take advantage of it. |
Fung Ku
V0LTA Triumvirate.
8
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Posted - 2015.08.06 15:50:14 -
[4] - Quote
Not to hijack the thread, but I am looking to do the same.
I have 7 bil available, although I was considering starting with just 2bil, and see how that goes.
Any advice on items/item groups/item values I should be focusing on? Its rather daunting looking at the thousands of available items to trade!
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Charlie Drake
Wholesale Transportation Diversified Investments
7
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Posted - 2015.08.06 15:56:48 -
[5] - Quote
Fung Ku wrote:Not to hijack the thread, but I am looking to do the same.
I have 7 bil available, although I was considering starting with just 2bil, and see how that goes.
Any advice on items/item groups/item values I should be focusing on? Its rather daunting looking at the thousands of available items to trade!
Starting out with Ship Equipment is always solid, just think what items you usually buy when you are flying about, its good to start with something you are familiar with.
Those items always have good volume of trades since people buy and sell a lot at a time and they get blown up.
learn to look at the price history list, the graph can be useful as well over longer periods of time but I think the list is more important to see volume of trades and items per trade.
Also another useful tip is look at the "expires in" timer to see how many people are active in trading the item and how often you would have to update your order
and last tip, it is not always necessary to do the 0.01 isk dance, if you look at the market most items are in waves, up and down, you can buy items at a specific price, they will be sold to your buy order eventually once the item hits the low, same with sell orders, you dont have to be on top, items usually will get up to the price again at some point and you will have made more profit.
You just have to look into how fast you need to turn over the isk and ofc calculate in that the faster you turn over the isk the faster you are making more profit with it.
hope this was helpful and good luck! |
Crom Domison
Relentless Terrorism Separatists
2
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Posted - 2015.08.06 15:59:00 -
[6] - Quote
Fung Ku wrote:Not to hijack the thread, but I am looking to do the same.
I have 7 bil available, although I was considering starting with just 2bil, and see how that goes.
Any advice on items/item groups/item values I should be focusing on? Its rather daunting looking at the thousands of available items to trade!
That would be my next hurdle. Wouldn't be sure whether to trade high volume items and where to sell items. What quantity of each item to get and how to figure out the margins on each item in a less time consuming manner to see which are worth trading.
I had a spreadsheet once on some common T2 items in Nita which told me the profit margins based off some API data or something. Unfortunately I lost it and can't find the YouTube video guide I used to make the thing. |
Fung Ku
V0LTA Triumvirate.
8
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Posted - 2015.08.06 16:16:49 -
[7] - Quote
I cant access youtube due to data reasons (moving house atm, and no internet connection so tethering through my mobile)
I remember watching 2 series of videos, one on making an spreadsheet with api pull, and the other on general marketeer.
I believe EveBusinessInsider was one of the channels, and Eve Mogul was the other.
I will aim to re watch these, plus any other people recommend once I have broadband internet again!
Thank you for your responses, Any other advice greatly appreciated! |
Rykker Bow
The Mjolnir Bloc
163
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Posted - 2015.08.06 16:29:21 -
[8] - Quote
With using 4b capital and doing trading as your focus (preferably station trading imo) it would be easy to clear a plex a month.
I would aim for 4-8b a month if you trade with the hours you stated assuming normal learning curve for beginning traders. I would recommend heading to Jita, find a few items you think are good and put up a bunch of different buy orders of about 1b worth. Then start doing some heavy researching while those orders sit. The research should provide insight into new items and techniques. Apply new info to put up new and better orders. Rinse and repeat until you are fully vested into the market. I would definitely look into increasing your Corp and faction standings prior to any heavy station trading.
Good luck!
The Mjolnir Bloc - Lowsec PvP for the sophisticated
The Mjolnir Bloc Killboards
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Rykker Bow
The Mjolnir Bloc
163
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Posted - 2015.08.06 16:52:39 -
[9] - Quote
On the subject of which items to trade, look for items that have a good turnover and a good margin. With your hours, expect to receive 1-4% (depending on tz and number of updates) of the station turnover and use that number times margin less taxes and fees to calculate profits over time. Using a third party tool such as eve mogul or eve profits will simplify this; use this information to weed out underperforming items and replace with more lucrative items. I use profits/time to determine item worthiness and not just the graphs and tables provided by the market and third party tools as each group of items have their own personality.
You may find yourself leaning toward either high volume low margin or low volume high margin items. Go with what you enjoy more as there are plenty of each in the markets. As your capital increases, so too should your items if you go the later route.
The Mjolnir Bloc - Lowsec PvP for the sophisticated
The Mjolnir Bloc Killboards
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goodlady Smith
Exit-Strategy Exit Strategy..
6
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Posted - 2015.08.06 23:28:31 -
[10] - Quote
I found that in the AUTZ if your going to actively trade with 0.1 isking you need to focus on very high volume items. It was actually better to trade smaller volumes of faction items between stations, but then you need to haul.
If your just looking to plex - once you have finished the training for market skills passive (low effort) income can come from:
- PI
Blueprints - research/copying/invention Agents in the form of research agents
These all take a couple of weeks training but setting aside a couple of months to generate free plex can be worth if RL $ is limited |
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Angelica Everstar
243
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Posted - 2015.08.07 19:20:24 -
[11] - Quote
When I started playing EVE, I paid 2 months sub before swapping to PLEX, and have been PLEX'ing all of my accounts ever since. My friend gave me some ISK when I started, but that was well below 200m in total. Rest is purely though trading, but that was also MANY years ago :D
§ Help support PLEX4GOOD
ŚĆ Bonds: Current AE08 1.2 Trillion // Total : 3+ Trillon ISK
¢ Any bad spelling or grammar, is free of charge
@EveEntrepreneur
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Yuvak Ogeko
Republic Military School Minmatar Republic
1
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Posted - 2015.08.08 18:28:34 -
[12] - Quote
Crom Domison wrote:passive income This is a buzzword that needs to die. Yes, there are means of making isk that are not hugely game-time intensive, but many/most of them are reliant on a good deal of out-of-game number crunching, keeping up with patch notes, keeping up with the various metas that will impact markets, etc. The only true passive income stream is being the figurehead of a relatively successful corp, letting directors do all the work, and siphonin isk out of the corp slush fund. Even that requires a good deal of up-front time investment.
Crom Domison wrote: I have about 4bil to invest. I have one character with some very basic trading skills. I can be online 2-4 hours a night on weekdays, more on weekends.
You have more than enough seed capital to start with. Lacking skills, especially accounting, broker relations, and margin trading, will slow you down, so will not having high standings with faction/corp of the stations you work in, but none of those is a solid barrier to entry. It just means you will have to spend more time researching to find acceptable margins.
Wealthy traders with high standings still work to turn a decent profit, but they have the leeway to get lazy and invest a bit in whatever with the knowledge that they're blanketing the market well enough that losses will be offset or minimized. You have to stay on the ball and not be too lazy.
tl;dr: It's doable, but if you're expecting passive passive income ala old school research agents you're in for a shock. |
Tau Cabalander
Retirement Retreat Working Stiffs
5221
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Posted - 2015.08.09 06:44:11 -
[13] - Quote
Crom Domison wrote:Can I make enough ISK per month to plex my account from the market? If you have to ask, then probably not.
Starting ISK isn't the hard part. It doesn't take much ISK, but it does take know-how.
You might want to start small with some idea and see how far you get, and more importantly if you enjoy doing it.
I have 5 paid accounts. I choose not to PLEX them because that would make EVE a second job. |
Hulk Miner
White Horse Incorporated
27
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Posted - 2015.08.09 08:57:09 -
[14] - Quote
Tau Cabalander wrote:
I choose not to PLEX them because that would make EVE a second job.
Make the ISK you make while playing your ISK and not drop it into the PLEX pot. Buy some shiny stuff. |
Tau Cabalander
Retirement Retreat Working Stiffs
5226
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Posted - 2015.08.11 00:40:18 -
[15] - Quote
Hulk Miner wrote:Tau Cabalander wrote:I choose not to PLEX them because that would make EVE a second job. Make the ISK you make while playing your ISK and not drop it into the PLEX pot. Buy some shiny stuff. Generally I hold a minimal amount of my own ISK, preferring to use other people's ISK to generate ISK for myself (which I promptly spend). Example: I've probably got around 400m combined total of the wallets of all my characters, and 20b from an investor.
If anything, I should reduce my spending on "shiny stuff". I've recently listed on the market ~15b in extra ships |
Sabriz Adoudel
Black Hydra Consortium. CODE.
5238
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Posted - 2015.08.11 00:45:24 -
[16] - Quote
You clearly know more than me about incursions. Ask questions about that.
You know incursion pilots create CONCORD LP store items. You know what they destroy (deadspace modules, pirate battleships, ammunition).
What you know that I don't is *where and when* they have these excess items and *where and when* they want them.
That's a trade opportunity for you. One that I can't compete with you in.
Shoot everyone. Let the Saviour sort it out.
I enforce the New Haliama Code of Conduct via wardec ops. Ignorance of the law is no excuse - read about requirements for highsec miners at www.minerbumping.com
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Marseillefrog
Blueprint Mania
18
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Posted - 2015.08.11 19:04:06 -
[17] - Quote
Yuvak Ogeko wrote:Crom Domison wrote:passive income This is a buzzword that needs to die. Yes, there are means of making isk that are not hugely game-time intensive, but many/most of them are reliant on a good deal of out-of-game number crunching, keeping up with patch notes, keeping up with the various metas that will impact markets, etc. The only true passive income stream is being the figurehead of a relatively successful corp, letting directors do all the work, and siphonin isk out of the corp slush fund. Even that requires a good deal of up-front time investment. Crom Domison wrote: I have about 4bil to invest. I have one character with some very basic trading skills. I can be online 2-4 hours a night on weekdays, more on weekends.
You have more than enough seed capital to start with. Lacking skills, especially accounting, broker relations, and margin trading, will slow you down, so will not having high standings with faction/corp of the stations you work in, but none of those is a solid barrier to entry. It just means you will have to spend more time researching to find acceptable margins. Wealthy traders with high standings still work to turn a decent profit, but they have the leeway to get lazy and invest a bit in whatever with the knowledge that they're blanketing the market well enough that losses will be offset or minimized. You have to stay on the ball and not be too lazy. tl;dr: It's doable, but if you're expecting passive passive income ala old school research agents you're in for a shock.
I've heard about players "winning eve" Here is a guy who is losing at Eve. As you were
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