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wooooot
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Posted - 2010.07.12 04:16:00 -
[1]
Edited by: wooooot on 12/07/2010 04:21:55 I've always had an interest in the market but no know-how of how to play it and make a profit, I know asking here is probably going to result in people telling me to do some research or figure it out myself, and i've tried but i can't wrap my head around the big picture. If anybody is willing to give a market noob a crash course, or even some basic tips would be much appreciated.
IB4BHSL (In before buy high sell low)
Edit - obviously not my actual acc, i have some isk to start if someone is willing to teach.
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Cista2
Hydra Investment Fund
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Posted - 2010.07.12 04:42:00 -
[2]
As an alternative to personal mentoring, you can join our Signatures channel. We are just a few traders gathered there, and very helpful ----------------------- "Signatures" trader chatroom / Hydra Investment Fund |
wooooot
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Posted - 2010.07.12 04:48:00 -
[3]
I'l do that, is the channel named 'Signatures'? Still i'd prefer some detailed help.
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Looby Loo
Minmatar
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Posted - 2010.07.12 05:23:00 -
[4]
Originally by: wooooot Still i'd prefer some detailed help.
Jeez. It really is buy low sell high. Look at the goods available with a decent split between high buy and low sell (for the hub you happen to be in).Don't worry about what stuff is selling for 6 jumps away as people don't travel. Check the other tab and see how many units are traded daily and whether the buy and sell prices are being hit; no point placing a buy order when people are only buying. Place order, wait, sell, profit. Depending on how much money you are starting with you may want to try a bit of arbitrage and haul items from one place to another to make a bigger profit. This is of course time consuming and opens yourself up to potential loss through gankage but can be a quick way to get a few isk under your belt. Variants include low region wide buy orders which can be very profitable but mean spending hours in a hauler running all over the place which isn't fun. In the early stages high turnover is key and try to stick to at least a 25% margin.
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Shar Tegral
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Posted - 2010.07.12 05:39:00 -
[5]
I really hate saying RTFM but you make having stickies almost pointless. Truly, the market section of the Eve Wiki is quite excellent. Those who have made sure that the wiki is well stocked with resources as well as those who made the resources in the first place. Dig through those, get an idea of how the market works (buy low, sell high is market 101) and then interact in one of the several market channels. (People will offer them.) You really want to go with an osmosis kind of learning more so than a direct input method. Better to learn slow and make mistakes than to learn quick and be incompetent in adjusting to conditions on your own. Besides, it is the rare person in Eve who will let someone else onto their isk tit.
Wealth, howsoever got, in Eve makes Lords of morons and gentlemen of thieves; Aptitude and intellect are needless here; 'Tis impudence and money that grants fame. |
wooooot
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Posted - 2010.07.12 05:46:00 -
[6]
I'l definently read it, However no ammount of tutorials can match real experience, and having someone who can answer a question would be better then any guide. I don't expect you to show me what you buy/sell, i'm not trying to steal your items, i just wan't to know the processes you use to figure out what items are good to play with, and other questions like that.
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Frenden Dax
Dax Acquisitions
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Posted - 2010.07.12 05:51:00 -
[7]
I understand now how 'bitter vets' form. You can only answer the same question so many times before you give into rage at people's laziness.
So, in answer to the OP, you should in the future take the fruit to properly cow the spandex, instead of flippering to potato on the loveseat. Waffles.
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Khukamaimnon
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Posted - 2010.07.12 07:41:00 -
[8]
Shall we hold it for you as you go? And give it a little shake afterwards?
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Thoraemond
Minmatar Far Ranger
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Posted - 2010.07.12 07:48:00 -
[9]
Originally by: wooooot I've always had an interest in the market [...] and i've tried but i can't wrap my head around the big picture.
It you write honestly, then the best advice is probably that EVE is just too complex for you, and you need a simpler game. There are plenty of options; good luck! á á
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Tamarana
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Posted - 2010.07.12 10:01:00 -
[10]
Market is another name for "speculation". Don't be fooled by the bad press this good word receive: speculation is the act to make guess about the future. At the end it is alway about this. The "buy low, sell high" is more correctly told as "Sell low now, Sell high after". So you must speculate what will pay more "after" than "now". This depend much on your time horizon. Your speculations will be limited to few minutes? Hours? Days? Weeks? More?
For example, using a tool like EVE-Central to find possible trade routes let you speculate on some hours (at best days) possibilities of gain. Often these are minutes. Intra-regional arbitrage is possible. When I started (a few years ago) I was able to make up 30 M a day in four hours with NPC trading (spirits, mainly) with a industrial ship (and a few ISK lent by a friend). This is small change and after a few weeks I moved to something else (POS managing) and PC trading.
The speculation can take form in many ways, but all of them try to add some value to the stuff you buy, do or sell: 1) You could trade in station (buy low now and resell high after in the same place) You take your ISK now and add time (and your skill in selling-buying-pay less taxes, etc.) You are moving the good in the future. 2) You trade from a place to another taking advantage of price differences. You use your ISKs, your skills to move stuff in the space (and less in the future) 3) You manage a POS: yoo speculate that the work you do, the ISK you invest in towers, POS stuff, fuels, etc. will pay back with interests in the future when you will sell the Moon materials or the service of a research POS, etc. 4) You mine: you speculate that the price of the minerals you produce will payback well at the market (local or otherwise). 5) You do a courier job: you speculate service will earn you money 6) You build stuff to sell to the market: you speculate that the investments in BPO, research, minerals, skills, etc. will payback in the future.
To work on the market is to work on speculation about what the future will be,
The people that speculate correctly about the spike of Planet goods make very good ISKs. They moved the NPC goods in the future for a gain.
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Backscatter
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Posted - 2010.07.12 15:27:00 -
[11]
Didn't read the replies, so this might be redundant:
1)pick a station 2)train up skills (Trade, procurement, marketing, daytrading) 3)Look at market browser. Find high-volume items (e.g. t2, etc) that have a large price variation. 4)Place buy order at bottom of range 5)wait for transactions 6)Sell at top of range 7)repeat
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Thrasymachus TheSophist
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Posted - 2010.07.12 16:56:00 -
[12]
I'd be willing to provide personalized 1:1 guidance, for a fee.
Shoot me an evemail in game if you're interested.
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Shar Tegral
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Posted - 2010.07.12 18:23:00 -
[13]
Originally by: wooooot However no ammount of tutorials can match real experience, and having someone who can answer a question would be better then any guide.
Ironic wot? You ask for a mentor and then argue with the advice given. [/ shakes head] Practical experience does indeed trump book knowledge. But the thing is, when teaching, it is easier to instruct when the recipient understands some of the basic terms, phrases, and practices. Why? Originally by: Frenden Dax I understand now how 'bitter vets' form. You can only answer the same question so many times before you give into rage at people's laziness.
Now, I publicly appear to be bitter (I'll admit it) however in private I've no problem with helping people out with a smile on my face. However it really is a waste of my time if I have to spend my "recreation" time explaining to someone what they can spend their time reading elsewhere. In triplicate even. Originally by: wooooot I don't expect you to show me what you buy/sell, i'm not trying to steal your items, i just wan't to know the processes you use to figure out what items are good to play with, and other questions like that.
Without practical examples and practical advice educating becomes too abstract. Especially for someone who self admittedly can not quite figure it out on their own. (<-Not a criticism.) Mind you I don't think it is about stealing my market(s). However your first lesson is: Most people will think that. Paranoia is good and healthy. Excessive paranoia, in Eve, is very good (healthy debatable!). It makes no difference how earnest you are (trust me - no difference) people will still see you according to their own biases. So, I relink my post. Read the FAQ's and absorb knowledge slowly and at your pace. PS: Great anecdote here.
Wealth, howsoever got, in Eve makes Lords of morons and gentlemen of thieves; Aptitude and intellect are needless here; 'Tis impudence and money that grants fame. |
Varo Jan
Caravanserai Consulting
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Posted - 2010.07.12 18:57:00 -
[14]
Here's a free tip: If you suffer from piles, don't become a Jita station trader.
Want more? Eve mail me using your main. Yes, I'll give you some free advice to kick start your trading life. Blame my benevolence on La Roja being crowned football world champions.
But understand one thing: you will need to sweat to learn to trade. There are no free lunches.
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