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Charles Baker
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Posted - 2010.09.07 21:36:00 -
[1]
Right guys, i'm a starting out trader i have 20mil ISK (set aside) for starting out, and essentially i'm looking for a good way of making cash from the market, the regions i am capable of operating in (without one helluva migration) are Placid, Essence, and Sinq Laison so my main trade hub will probably be Dodoxie, i have some skills in production and industry so producing items is viable, but i have no access to research facilities or skills, i can provide some of the minerals required through the use of my fully fitted Retriever mining barge, or i can haul crap with a fully fitted iteron4 so essentially what i'm asking is in the infinity wisdom of the MD forum, what would you advise a nublet like me to do.
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WeaselMaster
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Posted - 2010.09.07 21:43:00 -
[2]
maybe do your own market research rather than trying to cash in on other peoples ?
No one is seriously going to give you any worthwhile trade secrets and knowingly increase their competition.
Do what the others have done and learn by trial and error
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Charles Baker
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Posted - 2010.09.07 21:50:00 -
[3]
Yes you are right, my apologies for creating a thread in the MD Sub-forums which is not an obvious scam.
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Akita T
Caldari Caldari Navy Volunteer Task Force
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Posted - 2010.09.07 21:50:00 -
[4]
Originally by: Charles Baker so essentially what i'm asking is in the infinity wisdom of the MD forum, what would you advise a nublet like me to do.
Start reading. Browse the stickies here (and maybe in S&I too), follow the links, go to the official wiki, etc. Come back a few hundreds of read pages later if you still need help (hopefully you won't).
Side-note, 20 mil is really nothing impressive anymore, not even for a newbie, you can make that in not too long of a time by casually running missions with a barely-out-of-trial-period character or managing a few highsec planets. At this low level of initial investment, other ISK-earning activities will provide more ISK with less mental effort.
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Beginner's ISK making guide | Manufacturer's helper | All about reacting _
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Charles Baker
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Posted - 2010.09.07 21:52:00 -
[5]
Well Akita i can pull 80 mil together (still not that impressive) i just stated 20mil as the number i was willing to risk on a venture on the advice of this scammer invested forum.
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Lauren Hellfury
Full Pocket Aggro
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Posted - 2010.09.07 21:53:00 -
[6]
Best advice you're likely to get coming up:
Buy low, sell high. If it's not worth producing by purchasing materials it's not worth mining the materials to produce them.
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Akita T
Caldari Caldari Navy Volunteer Task Force
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Posted - 2010.09.07 22:03:00 -
[7]
Edited by: Akita T on 07/09/2010 22:06:15
Originally by: Charles Baker Well Akita i can pull 80 mil together (still not that impressive) i just stated 20mil as the number i was willing to risk on a venture on the advice of this scammer infested forum.
Trading is a PERCENTAGE game. In areas with high ISK volume exchanging hands, a 5% per trade net profit is actually quite damn good. Also, if you manage to turn over your entire inventory several times a day on anything but the most flimsy of total available funding, that's also relatively impressive. In other words, instead of bothering with small-ticket item market orders for hours each day, better spend just one hour speed-running L3 missions and collecting your PI goods, because you'd make noticeably more ISK that way. Of course, then again, working with small amounts of ISK will make you get the hang of it, so even if you gain only piddling amounts of ISK, at least you gain experience. And then later you can earn more ISK in other ways and apply what you have learned on a larger scale.
Nothing breathtakingly exciting nor mindshattering difficult as far as active station-only trading goes. Just know your total fees percentage, calculate current item margins, if profit is possible go to next step, look at graph to see price is not likely to crash in the near future and check there is a steady volume being traded, put up orders that cover at most 10% of the daily market volume (for starters, anyway) and wait for them to process, then put up higher sell orders. There's not much more to it, and WHAT you decide to trade has very little relevance except near patch days.
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Beginner's ISK making guide | Manufacturer's helper | All about reacting _
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mr rens
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Posted - 2010.09.07 22:09:00 -
[8]
fwiw still read the md forum daily even after the stickies are done, there's lots of good stuff here.
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Victor Michaelle
Gallente
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Posted - 2010.09.07 23:30:00 -
[9]
I advise starting to trade with relatively high value items at first, such as implants. Those markets may be somewhat slow, relatively speaking, but the profit per item is fairly high and easy to accomplish.
Other trading approaches may give you more money if done right, but they are generally a bit harder to do right. So, uhm, start simple and once you have some comfort trading do what the other people here said (read a lot).
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Janya Rykayn
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Posted - 2010.09.08 01:25:00 -
[10]
Quote: Yes you are right, my apologies for creating a thread in the MD Sub-forums which is not an obvious scam.
This right here is the way to get people to help you.
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K Research
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Posted - 2010.09.08 11:26:00 -
[11]
Edited by: K Research on 08/09/2010 11:27:19 Seriously, there is no flippin secret to trading. There is no magic bullet and it's only as complicated as you make it.
Buy Low, Sell High... it's really that easy.
You can even take it a step further. Buy low, move the crap somewhere else, sell high.
Want to complicate a bit further? Buy low medium or high, wait , sell higher.
What to trade takes experience but not a lot. A trained monkey can do this. Just get your feet wet and don't put all your eggs into one basket.
You are looking for: A)items that have a buy sell spread that won't get eaten up buy your broker and accounting fees with decent daily volume. B)Mission drops that you can buy for dirt cheap and then move to a market hub. C)Items mission runners use that you can buy from trade hubs and move to mission hubs. D)Items 0.0 residents use but are to lazy to make the extra few jumps to a trade hub.
There I've said to much, all you have to do now is pay me 5 easy payments of 19.99 million isk.
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Brian Ballsack
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Posted - 2010.09.08 12:00:00 -
[12]
Buy low sell high. Thats the only advice anyone is ever going to give you. The thing YOU have to work out is what and where, no one is going to tell you how to compete with them.
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Zombatar
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Posted - 2010.09.08 12:04:00 -
[13]
Edited by: Zombatar on 08/09/2010 12:06:03 20 mil to invest ok, here is one way to do it: info is 4 h old.
Buy 18 Invulnerability fields II from Jita (1.07 mil each) = 19.27 mil investment Sell 18 Invulnerability fields II to Amarr (1.399 mill each) = 25.182 mil return
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You just made 5.912 mil! A profit of 30% from an investment of 19 mil.
OMG invest 100 mil and get 30 mil return!!! Go while its still on.
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Cost of operation? Jumping what... 11 gates? LOL
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Noun Verber
Gallente
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Posted - 2010.09.08 13:04:00 -
[14]
You should sell +5 implants in Amarr Prime, this week if possible.
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Thrasymachus TheSophist
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Posted - 2010.09.08 16:14:00 -
[15]
Wisdom? In MD?
<crickets>
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Atomik Harmonik
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Posted - 2010.09.08 22:39:00 -
[16]
Originally by: Charles Baker Right guys, i'm a starting out trader i have 20mil ISK (set aside) for starting out, and essentially i'm looking for a good way of making cash from the market, the regions i am capable of operating in (without one helluva migration) are Placid, Essence, and Sinq Laison so my main trade hub will probably be Dodoxie, i have some skills in production and industry so producing items is viable, but i have no access to research facilities or skills, i can provide some of the minerals required through the use of my fully fitted Retriever mining barge, or i can haul crap with a fully fitted iteron4 so essentially what i'm asking is in the infinity wisdom of the MD forum, what would you advise a nublet like me to do.
First of all, attention to detail when doing market orders is VERY IMPORTANT. If you can't spell 'Dodixie' correctly when it's spelled correctly right in front of you; you might be in for some costly learning experiences. For example, pay attention and actually look at the price in the market order (or contract)...you don't want to be buying a single piece of ammunition for over 1b isk...or a Caldari Navy Thingamabob if it's really only a regular issue Thingamabob.
Also remember, higher risk equals higher reward. You can buy stuff in Dodixie at relatively stable prices and then haul them a few jumps over to Decon and sell for 1000% profit. Same thing goes for Rens...take the stuff to Amamake and put up sell orders. Jita - Tama works also.
You can also do some research and look to see what sells at high prices and low volumes, or low prices and high volumes. Set your buy orders, wait until they're filled and then sell the inventory.
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Bill Alt
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Posted - 2010.09.08 23:17:00 -
[17]
I started with ship and cargo scanning. Went to a mission hub. Scanned ships to see what was currently in need. Scanned the prices in that system. Went to Jita (less than 10 jumps.) Picked up the items via buy orders to maximize my profits. Transported and sold at mission hub. Rinse/repeat.
It helped that Jita was in a different system, thus the buyers at the trade hub could not see the prices I was buying at.
After I had a larger bankroll, I moved on to higher ticket, slower moving items to match my play style. (I don't care to constantly modify my orders.)
Now I generally do stuff in billion+ increments for longer terms. Still small time by the measure of most of these folks. It locks my cash up for far too long, and is a stupid way to use isk, but I'm really not doing much other than goofing around at this point. One of these days I need to throw a few billion into something serious and learn how to make some substantial money.
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