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Dred Control
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Posted - 2010.07.29 17:01:00 -
[1]
I'm curious how those who are successful traders first "made it" in this profession. What items were you trading? What was the route? Were you buying up and then selling to buy orders or did you set your own sell order price? Did you manufacture and then sell the results? Did you perform "market making" activities or were you just doing simple hauling?
Basically, I want some stories to see how other people do it, so I can get some inspiration and ideas.
Yes, I know. You're not supposed to give away your trade secrets, your routes, and what items you're trading. That's fine. Omit whatever you feel is necessary for your job security. Also, if you're describing trades from months or years ago, it probably won't be relevant now, anyways.
I'm just starting out in trading, and I'm still getting the hang of it. I have been bringing in small shipments of mostly T1 stuff into Jita from about 7-8 hops out and making a steady profit on it. Somehow I find it fun to do these little arbitrage trades. Coming from L4 missioning, it feels fresh. It is very little effort, and I can do it while watching movies. I use a, ahem, certain website to find trade route ideas. (If you trade seriously at all, you know which one I mean!) I have made, oh, like 30 million over the last couple sessions, which I know is not much, but I'm just pleased to be turning a semi-decent profit with this profession.
Thanks in advance for your information. Happy trading.
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Abdiel Kavash
Caldari
Paladin Order
Fidelas Constans
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Posted - 2010.07.29 17:27:00 -
[2]
Buying certain items cheap where there is a lot of them, and selling them expensive where there is a little.
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EVE is dying! Now for real! |
Dred Control
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Posted - 2010.07.29 17:33:00 -
[3]
 Originally by: Abdiel Kavash
Buying certain items cheap where there is a lot of them, and selling them expensive where there is a little.
I guess that is the gist of this whole business. :)
Were you doing high sec only or did you work in routes to/through null/low sec as well? I haven't even considered any null/low sec routes at the moment, but I know the item markup from high to null can be huge.
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cyndrogen
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Posted - 2010.07.29 17:46:00 -
[4]
People make mistakes in eve and sometimes you can profit from these mistakes.
I will give you an example I put in a buy order for 10,000 zydrine at 400 ISK, did I think someone would actually fill that order? No, however a few days later I found 10k units of zydrine in my hanger.
Someone screwed up their order and I got a bargain.
Never underestimate ooopsie clicks.
You would be surprised how often this happens in eve.
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Terbulus
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Posted - 2010.07.29 18:07:00 -
[5]
I started my trading career by using the forum search engine to find all the other threads of people asking how to start a trading career. try it!
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Dred Control
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Posted - 2010.07.29 18:09:00 -
[6]
Originally by: Terbulus
I started my trading career by using the forum search engine to find all the other threads of people asking how to start a trading career. try it!
Nice one. 
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flakeys
DRAMA Inc
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Posted - 2010.07.29 18:25:00 -
[7]
Finding out the 0.0 price of mining ship bpo's and comparing them to the empire price is what made me start trade.My first 3 months all i did was fly up and down through enemy territory to get my hands on some bpo's to resale in jita or on contract.
Exciting and fun times they where.
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Dracnys
Caldari
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Posted - 2010.07.29 19:31:00 -
[8]
After I had mined my first millions I started trading. I station traded in major hubs but with unpopular items or items people don't bother with, like tech one drones. Nobody bothers with putting up sell orders for low amounts so I collected the leftovers and sold them for a nice markup. Some rare mission drops also work like this, but there is more competition.
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Dred Control
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Posted - 2010.07.29 20:14:00 -
[9]
That's for the replies thus far. This is exactly the kind of info I'm looking for. Keep it coming. 
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Antonicos
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Posted - 2010.07.29 21:47:00 -
[10]
Is there a list somewhere of the low sec only BPOs?
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Vasaczk
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Posted - 2010.07.29 23:57:00 -
[11]
Edited by: Vasaczk on 29/07/2010 23:57:36
The first rule of fightclub is...?
Seriously. Talking about what works in trading adversly effects how well aformentioned strategy works.
So: Don't be lazy and find out for your self: Buy low, sell high. You can do this in station, over a region, or between regions, whatever you like really...
Now go away and find out for yourself, just like the rest of us did. 
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Taisto Kalevi
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Posted - 2010.07.30 01:09:00 -
[12]
I chose the path less traveled. I bought high and sold low, but made up for it in volume.
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Scott McClellan
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Posted - 2010.07.30 04:36:00 -
[13]
Originally by: Taisto Kalevi
I chose the path less traveled. I bought high and sold low, but made up for it in volume.
Hey, howsabout not spilling valuable trade secrets some of us are using successfully all over the forums?
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Taisto Kalevi
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Posted - 2010.07.30 15:15:00 -
[14]
Originally by: Scott McClellan
Hey, howsabout not spilling valuable trade secrets some of us are using successfully all over the forums?
Oh, yeah. Crap. I shouldn't post in these threads when I've been drinking. Sorry about that. 
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Jovialmadness
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Posted - 2010.07.30 19:22:00 -
[15]
Edited by: Jovialmadness on 30/07/2010 19:23:32
Originally by: Taisto Kalevi
Originally by: Scott McClellan
Hey, howsabout not spilling valuable trade secrets some of us are using successfully all over the forums?
Oh, yeah. Crap. I shouldn't post in these threads when I've been drinking. Sorry about that.
Well i sure as hell hope you dont drink and trade as well hehe. Sounds like you might. I cant say nothing ill partake in some beverage and the next thing i know ive given away 400 mil to the first guys i see in teamspeak. |
stoicfaux
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Posted - 2010.07.30 21:36:00 -
[16]
Originally by: Taisto Kalevi
Oh, yeah. Crap. I shouldn't post in these threads when I've been drinking. Sorry about that.
Don't sell to Zydrine buy orders either.
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"Are you a sociopathic paranoid schizophrenic with accounting skills? We have the game for you!
-- Eve, the game of Alts, Economics, Machiavelli, and PvP"
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Redshift XIII
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Posted - 2010.07.31 00:44:00 -
[17]
ENOUGH IS ENOUGH! I've had it with these MF'in cats in these MF'in bags!
Buying high and selling low... profits grow exponentially with higher volumes. Definitely. There I said it.
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Mordiss Nex
Blue Republic
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Posted - 2010.08.11 04:09:00 -
[18]
Originally by: cyndrogen
People make mistakes in eve and sometimes you can profit from these mistakes.
I will give you an example I put in a buy order for 10,000 zydrine at 400 ISK, did I think someone would actually fill that order? No, however a few days later I found 10k units of zydrine in my hanger.
Someone screwed up their order and I got a bargain.
Never underestimate ooopsie clicks.
You would be surprised how often this happens in eve.
I sold a Golem for less than 1 mil ISK the other day.
I misread 3 digits. Don't trade when you're in a hurry on your way out 
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Lucyna
Minmatar
Interstellar Killer Bee Enterprises
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Posted - 2010.08.11 04:58:00 -
[19]
Originally by: Mordiss Nex
I sold a Golem for less than 1 mil ISK the other day.
I misread 3 digits. Don't trade when you're in a hurry on your way out
I approve of this mininecro. Oh the countless times I was off by a factor of 10 or 100 (scam'd). At least I've never been off by 1000, that'd be truly bad and I've heard the horror stories of it all.
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IskyBusiness
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Posted - 2010.08.11 05:08:00 -
[20]
Edited by: IskyBusiness on 11/08/2010 05:10:01
I used to make a mint hauling stuff down to Providence when CVA were still running the show there and selling high (although that nice little market is now closed  ). It is unbelievable how lazy people will be, not being prepared to go a few jumps for something cheaper.
I started selling T1 light drones and eventually worked my way up to T2 modules as my wallet got bigger.
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Lucyna
Minmatar
Interstellar Killer Bee Enterprises
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Posted - 2010.08.11 05:47:00 -
[21]
Also, if you train *any* industrial and a cloak and mwd you can start taking couriers risk free(tm) in that you MWD, cloak, uncloak and insta-warp. It helps for pesky hi-sec sudiciders and low-sec campers. OFC when you train up to Blockade Runners, then you have the ultimate low-sec industrial. I just don't like the concept of transport ships, maybe because they, even when tanked, won't survive a T3 battleship suicider *in my experience* so cloak is nice. Also, Orca.
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Pavel Gerla
Gallente
1st Czech Consulting Ltd
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Posted - 2010.08.11 08:04:00 -
[22]
I turned 90m into 250m simply by buying in one region, and selling in another to buyorders. Also, an industrial helps. Look into stuff like planetary products between regions
Highsec/tradehub freighter |
Dana Gilmour
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Posted - 2010.08.11 08:21:00 -
[23]
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Nathan Jameson
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Posted - 2010.08.11 09:20:00 -
[24]
If you're looking for a relatively hands-off way to earn money in trading, trade in station. Buy low and sell high, without ever undocking.
The trick is to figure out (i.e. research) which items:
1) Get a lot dumped into buy orders.
2) Get about the same amount pulled off of sell orders.
3) Have a decent profit margin (at least 3-5% and 100,000 isk, for example).
After that, it's just staying on top of the competition. I'd advise updating buy/sell orders at least twice a day, or the volume you move will be only just enough to keep up with your devaluing sell orders.
If you have extra time or are bored, supplement this strategy with buying cheap items abroad and bringing them in to sell at your "home" station.
I'm not telling you what items to invest into, and it's different for every region anyway. Do your own work now!
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Jeeta Ho
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Posted - 2010.08.11 11:42:00 -
[25]
When the various materials and schematics for PI started appearing on the SiSi server, lo those many months ago, my various alts started scooping POS fuels from NPC orders.
Today, I have a new penthouse apartment in a fashionable part of Jita and enough "servants" to keep me pampered and "amused" in the lifestyle to which I have become accustomed.
You, too, can become an overnight, one-trade-wonder.
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Thumiel Zaul
Black Hawk Security
Axiom Alliance
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Posted - 2010.08.11 11:56:00 -
[26]
Originally by: Redshift XIII
ENOUGH IS ENOUGH! I've had it with these MF'in cats in these MF'in bags!
Buying high and selling low... profits grow exponentially with higher volumes. Definitely. There I said it.
Actually I would think "Profit" (as a fraction of capital invested) would stay pretty linear, capital invested would grow exponetially......
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Hallan De'estus
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Posted - 2010.08.11 15:14:00 -
[27]
I put in some time and effort to trading when other activities are slow or I feel like doing something different. I took my time to figure out what kind of market fun I like, and how much time I wanted to devote to it. From there, I started doing my homework.
1) Eve central is your best friend.
2) If you are willing/interested in hauling start with items you know and use, and (a) visit regions and know the price structures (b) if hauling to resell and stock up then use a triangle trade route: Region X => Region Y => Region Z => Region X & rinse-and-repeat.
3) Be patient. Visiting each prospective region and comparing what you see with the info on Eve central, you'll learn what Eve central's data is really telling you about regional markets.
4) Do it because you enjoy it. If it turns into a grind take a break and go have some fun.
Good luck
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spaceman02
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Posted - 2010.08.11 15:20:00 -
[28]
Originally by: Nathan Jameson
If you're looking for a relatively hands-off way to earn money in trading, trade in station. Buy low and sell high, without ever undocking.
The trick is to figure out (i.e. research) which items:
1) Get a lot dumped into buy orders.
2) Get about the same amount pulled off of sell orders.
3) Have a decent profit margin (at least 3-5% and 100,000 isk, for example).
After that, it's just staying on top of the competition. I'd advise updating buy/sell orders at least twice a day, or the volume you move will be only just enough to keep up with your devaluing sell orders.
I've been trading for three days (invested 23 mil originally, up to 33 mil now), and this is exactly what I've gathered so far.
Items that satisfy this are named items (they drop from missions and mission bears usually don't bother to post sell orders), salvage (same), LP rewards like faction ammo (same). Manufactured items like ships will rarely be sold to buy orders.
Also:
NEVER FORGET TIME. Time is the number one factor. It doesn't matter how much markup you're selling it if it takes long to buy or to sell. The market is competitive. You can't count on staying the top buy order or sell order for long. So if an item is traded 2K times a day, don't expect to have a 2K buy order filled in a day.
If you have two items that are traded at similar prices in similar volumes, split your capital. If you put all your capital in one item, it'll take double the time to buy it and sell it. More time with your capital frozen means less time with your capital making money for you. Your capital should be distributed across orders as much as possible, the more orders you use for the same amount of capital, the quicker they'll be filled, and the quicker you can reinvest it.
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King Gore
The Church of Sentcha
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Posted - 2010.08.11 15:26:00 -
[29]
New trader here.
Update orders twice a day. Both buy and sell.
Always try and double your money. At the very least.
Cheap regional buy orders are your friends.
Study the market graph inside and out for the past 3 months, at least.
Lurk on MD and try and piggy back on any manipulations/shortages. With coolant I made almost 200m, nearly doubling my investment.
-
Originally by: Verone
Happy Ishtar is extremely happy
Originally by: Kahn Souphanousinphone
I thought I was going to live next to a powerful man, now I just live next to power.
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John DaiSho
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Posted - 2010.08.11 15:28:00 -
[30]
I buyed everything you need to fit a Navy Raven in Jita with Buyorders, hauled everything to Ichorya in Black Rise and sold it there. There is a very good and popular Lvl 4 CN Mission Agent, its approx 10 Jumps from Jita but you have to go trhough 2 Regions, so i could sell T2 stuff with 10-50% profit. I made quite a few ISK there but now i changed my base of operation so i have no problem with telling what i did hehe
Happy trading o7
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