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Lt Purifier
Amarr
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Posted - 2007.07.23 03:12:00 -
[1]
Edited by: Lt Purifier on 23/07/2007 03:12:09 Okay so I've been NPC trading for a while now. While profitable its slow going and I am looking to further my trading career.
My problem is that im not sure the best way to go about getting into the player market. I've read some great guides to trading and got an idea of what i want to do, i just dont have the incime atm to do so. I'm not looking for hundreds of millions a week but something steady.
So I guess my question is....
Whats the best way to get into player trading? Should i start a few buy orders and then sell said items from buy orders for say 10%-15% profit, or...Should i stay with the NPC type route and find sale orders that are cheaper then buy orders and move them to be sold?
I have an IteronV with 3 cargo rigs and T2 expanders that i bought for NPC trading, would that help me so early in my career?
I'm not asking for trade secrets or trade routes, just advice on getting started in the market. You can contact me ingame if you'd like.
Thanks in advance... |
Apple Blossom
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Posted - 2007.07.23 05:21:00 -
[2]
Originally by: Lt Purifier Should i start a few buy orders and then sell said items from buy orders for say 10%-15% profit, or...Should i stay with the NPC type route and find sale orders that are cheaper then buy orders and move them to be sold?
Buy orders.
Originally by: Lt Purifier I have an IteronV with 3 cargo rigs and T2 expanders that i bought for NPC trading, would that help me so early in my career?
Sure. If you're doing hauling and trading then the more space the merrier. You don't have to haul to trade though.
Apple.
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Oriella Trikassi
Trikassi Enterprises
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Posted - 2007.07.24 01:06:00 -
[3]
Originally by: Lt Purifier Should i start a few buy orders and then sell said items from buy orders for say 10%-15% profit
OK, you can read Market screens. But can you understand Market Screens? Why are those Orders there? Why are some station only, others Ranged? Are you looking at all the Market Screens, or just the ones you are familiar with? Are you also looking at the Graphs?
At some point I'd invest in a transport, an Occator in your case. Eventually someone will suicide on your Iteron, and a transport cuts down the chance of that a lot. For some Trade niches you don't need a big cargo capacity so much as speed and defense.
Profits in the Ranged Buy market are way higher than NPC hauling. I don't leave the station bar, er, my spreadsheets for less than 100%. You can start small with just a few orders, still NPC hauling to keep the cashflow healthy and letting the stocks pile up so pickup runs involve less warping around.
--- Trikassi Enterprises, oiling the jumpgates of commerce since 2004 |
Chiralos
Merchant Princes
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Posted - 2007.07.24 01:55:00 -
[4]
Experiment. A lot of the fun, I find, is finding new opportunities. Put some time and isk aside to study the price and volume graphs for a few product groups in a few regions. If you think you see a gap in the market, or a potential market, put up some buy orders (or buy some stuff and put up some sell orders).
Maybe nothing will happen and the orders will just sit there - you can cancel them or sell stuff at a small loss. Maybe you'll find a new more profitable source of income. Amarr Victor. |
Lt Purifier
Amarr
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Posted - 2007.07.24 04:53:00 -
[5]
Originally by: Oriella Trikassi
Originally by: Lt Purifier Should i start a few buy orders and then sell said items from buy orders for say 10%-15% profit
OK, you can read Market screens. But can you understand Market Screens? Why are those Orders there? Why are some station only, others Ranged? Are you looking at all the Market Screens, or just the ones you are familiar with? Are you also looking at the Graphs?
At some point I'd invest in a transport, an Occator in your case. Eventually someone will suicide on your Iteron, and a transport cuts down the chance of that a lot. For some Trade niches you don't need a big cargo capacity so much as speed and defense.
Profits in the Ranged Buy market are way higher than NPC hauling. I don't leave the station bar, er, my spreadsheets for less than 100%. You can start small with just a few orders, still NPC hauling to keep the cashflow healthy and letting the stocks pile up so pickup runs involve less warping around.
Yeah I have a fairly good idea about the market screens. I usually look at the table screen, bc I've heard the graph arent as accurate.
I also understand the reasons for station only and region buy orders. At least i believe i do anyway.
I have an idea of what i want to do...I just dont want to lose all the free isk i have on a bad decision. I'd rather wait for the isk loss thats inevitable, get some cushion first. |
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Pirlouit
Forum Moderator Interstellar Services Department
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Posted - 2007.07.24 22:36:00 -
[6]
Dear Lt Purifier,
You seems to be on the good road since you grasped pretty much most of the basic trade concept. As regard losing isks from bad trade or gate camp, well it will just happen and will especially hurt in the beginning.
Losing isks from bad decision is actually part of the learning process even if it cost you 30M.
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