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DethApostle
Amarr
The Tiandihui
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Posted - 2010.07.06 08:06:00 -
[1]
Edited by: DethApostle on 06/07/2010 08:06:06
Basically it's a 'where to go next' question i suppose...
My newb trade alt has now built up their fortune to 275m Isk and i'm starting to notice the rate of income is not what it used to be. Making 7mil profit a day is great when your total wealth is only 15mil but it's starting to feel a bit short now i've got more collateral behind me.
My initial thought was 'more orders = more profit' which is seems to work to a degree, however... it also means more time spent checking orders, modifing orders, etc etc and less time available to do other stuff!
I have previously been trading the basic (non-named) T1 mobules and whilst i'm getting up to 800% profit on some of them in my area it's not adding up to that much 'real' income per day.
If i'm determined to be a lazy-trader is there a better way to go? Perhaps head into the named module market? Less orders to worry about, probably less % profit per item, slower turnover of stock but more income over all? Or is it best to have a mixture of the two?
I think i'm at a crossroads in my trading career... advice please!
Cheers
DA |
RonPaul Solution
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Posted - 2010.07.06 14:48:00 -
[2]
i'm suprised u make any money selling unnamed t1 mods, u need meta 3-5.
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Lord Grimmas
Azure Freelancers
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Posted - 2010.07.06 15:14:00 -
[3]
For real income you need to have a high turnover. The margin can be as low as 5%. When station trading I have had success with a combination of fast-moving items (1000+ ISK/unit, 200000+ daily volume) and expensive items (50+ mil ISK/unit, 20+ daily volume) while keeping around 20 or so market orders going. I try to diversify as much as possible and never invest more than 10% of my total capital into one item.
Still, to make "real income" from this you need a bit more ISK than you currently have (in my experience 50-100 mil daily profit on 2 bil invested is realistic), and you do need to babysit your orders. If you're impatient I would look into hauling stuff across regional boundaries. You can try buying in Jita and selling in other hubs, or you can just look at the markets in your surrounding regions to figure out where you can make good profit.
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DethApostle
Amarr
The Tiandihui
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Posted - 2010.07.07 07:50:00 -
[4]
 Originally by: RonPaul Solution
i'm suprised u make any money selling unnamed t1 mods, u need meta 3-5.
I set up my home in a system that has a high population of L1 mission runners so there is a fairly decent turnover in the lower end modules.
Generally i'm buying at around 1k-5k and selling at 15k-50k depending on the module.
(I have also dabbled a little with ships up to BC's and a couple of named modules but the main part of my portfolio is un-named modules)
5m to 275m in a month doing this so there you can definately start up a trading career this way!
Lord Grimmas
I presume you were Station trading in Jita or one of the major hubs? There isn't anything (that i've seen) where I am that turns over 200k+ units a day!
Perhaps the solution to my question is to relocate to a more major trade (or mission) hub and step up the quality of the items i'm trading? |
Lord Grimmas
Azure Freelancers
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Posted - 2010.07.07 17:06:00 -
[5]
Yes, I was referring to Jita station trading, and yes, volume is important. It doesn't matter if you can make 700% profit if the total is a million a day. The big volumes are at the big trade hubs. Mostly Jita but also Amarr, Rens, Dodixie. In Jita, 200k isn't even that much. There are dozens of items that have a turnover of many million SKUs daily.
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AltBitch
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Posted - 2010.07.07 22:16:00 -
[6]
i started an alt with 30M seed money and no skill books. In 1 month the skill training was completed and I was up to 300M in assets, by the sescond month over 1.4B in assets. The path I took was setting up shop in a secondary regional hub and trading t2 modules with region-wide buy orders. Every 2-3 days I'd make a trip through a different corner of the region and scoop up all the modules that people sold to my buy orders. I bring them back to the hub and put them up as sells. Alternatively, you can sell right where the buy orders are filled, but that increases the amount of sell orders you need to maintain.
I only updated orders 1 time each night before bed, except on my asset collection days when I'd check continuously while I was out flying around picking up the stock.
My higher-volume modules were selling region-wide 40-60 items per day, with many in the 10-20 range. That was OK to me because competition is light and the profit margins are between 300K-1M on each sale.
Reading the OP, the process seems similar, buy you're really limited in the low-end modules you're selling. My approach worked for me, and it would just involve scaling back the volume and increasing the raw isk profit/sale.
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DethApostle
Amarr
The Tiandihui
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Posted - 2010.07.08 07:47:00 -
[7]
Alt*****, that is pretty much the same story as my experiences then except that my foray into T2 modules appeared to highlight that there wasn't much demand for those items at my location. Thinking about it the areas population is pretty young SP-wise so T2 is an uncommon request from the locals hence why i picked T1's.
I've tweaked my orders now to concentrate more on the meta modules and T1 ships in the hope that while my turnover of inventory is lower, the actual isk gained is higher.
10 x 200k is better than 200 x 10k (in time spent baby sitting orders and general laziness... i know the isk is the same!)
I'll update later this week! (These threads are great sources of information for newby traders!)
DA
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