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Afinia
Gallente
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Posted - 2011.02.17 20:06:00 -
[1]
Edited by: Afinia on 17/02/2011 20:13:40 Hello;
I am currently wanting to get involved in trading within the game. I am seeking help in the way of getting some advice as to the workings (not the basics) of successful trading. ( no I do not want your secrets to success) Though I would be interested in any guides or links to guides which are more successful or put together better for success and not frustration. Additionally any links to websites aside from eve central to help me to view market info from out of game etc etc etc.
I have the ships and the isk to follow through with some decent ventures, so suggestions would be appreciated.
Editted in post: I have viewed the sticky for new questions and answers, though with Eve Metrics site going away, I was hoping for more current data of what is available.
thanks for whatever help is given
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Ms Sade
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Posted - 2011.02.17 23:12:00 -
[2]
Buy high, sell low Minimise your overheads (accounting, broker relations, faction and corp standing)
How does that sound?
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Tenatz
IsTech Industries
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Posted - 2011.02.17 23:23:00 -
[3]
There are plenty of guides to be found, both on this site and others, e.g. evetribune. Look deeper down the rabbithole.
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ACESsiggy
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Posted - 2011.02.18 01:59:00 -
[4]
Originally by: Ms Sade Buy high, sell low Minimise your overheads (accounting, broker relations, faction and corp standing)
How does that sound?
lol is'nt it buy low and sell high>> ?
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Amaroq Dricaldari
Amarr Universal Deathdealing Militia Fusion Alliance
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Posted - 2011.02.18 02:17:00 -
[5]
I am starting a Loans program. Is anybody interested? |
OC 2av2
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Posted - 2011.02.18 02:41:00 -
[6]
Originally by: Ms Sade Buy high, sell low... ...How does that sound?
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Perramas
Caldari Pan Caldarian Ventures
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Posted - 2011.02.18 03:00:00 -
[7]
If you get into buying low priced high volume goods such as salvage make sure to put in a minimum quantity of fifty units or higher when making your buy order. I failed to do that when I put up a 50,000 unit order for some salvage and to compound the problem it was a region wide buy order. Before I knew what I had done I had one or two pieces of salvage in almost every station in the entire region.
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Ms Sade
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Posted - 2011.02.18 12:46:00 -
[8]
Originally by: OC 2av2
Originally by: Ms Sade Buy high, sell low... ...How does that sound?
It's very hard to trade without any stock; I like to be the highest buy order and the lowest sell order YMMV.
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Railman85
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Posted - 2011.02.18 19:01:00 -
[9]
I recommend my site for traders: eve tools - it will help you locate trade hubs, high trade volume productss, find trade offers, etc.
This site is still only a tool, something that provides you an information. You have to find your own way how to use it to get money from trading. I recommend you not to read any trade guide (because you will focus on the ideas in the guide and it will be harder for you to find unique niche) and try to find a good trade by yourself.
It's a good idea to look back into your experience with eve:
- Maybe you know some local trade hub/location where lot of people sell their loot
- Maybe you wanted to buy some stuff in some region and it was not available in market?
Oh, If you decide to haul your stuff, read this http://k162space.wordpress.com/2010/02/28/hauling-how-not-to-die/ It may save you several hundrets milions ISK :)
Eve Tools - Tools for eve; manufacturing, reprocessing calculator, trade finder, market browser, product prices, trade hubs ranking |
Tasko Pal
Spallated Garniferous Schist
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Posted - 2011.02.18 20:18:00 -
[10]
Edited by: Tasko Pal on 18/02/2011 20:18:43 Edited by: Tasko Pal on 18/02/2011 20:17:55 There some good advice here. Here's my take. I think it holds not just for trade, but any profession that is capital intensive like manufacture.
1) Have some idea of what you think a good return on investment is. Know your costs and revenue in detail.
2) Start by trading what you know. Start in regions you are familiar with and goods you needed while you were doing something else.
3) When trying new things, experiment small, scale up if it works. You can figure out if something will work or not without having to drop huge orders. One of the goals is to figure out the problems and pitfalls before you sink a few billion isk into it.
4) Your time and effort is your most valuable and scarcest asset. Use it carefully. Don't commit to a long onerous task (like running a pos for months or collecting the residue of a large, region-wide buy order), if you aren't sure either of the possible return or of your commitment to the action. Sometimes you might be able to get someone else to do it, courier contracts and good friends have saved me a lot of time.
In conjunction with point 1, sometime people put an isk value on their time. If you are a successful trader with a lot of isk, then your time when spent focused on making isk will have a high value. Time when having fun, probably won't.
5) Look for synergy. If there is an activity which you like to do, then see how you can leverage that with some trade on the side (if you defend a chunk of 0.0, then you can do some trading at the local hole). If you have a good revenue stream from a money-making activity, then maybe there is some other profitable activity, which doesn't add much addition cost. For example, if you're hauling already, then picking up courier contracts in the neighborhood tend to be a lot less effort than if you were doing just the contracts.
6) Always be on the lookout for something new. If you are any good, your assets will grow, but many of your markets won't. Further, you'll have opposition entering and leaving markets all the time, which can shake up your potential profits. That means you need to come up with new opportunities all the time in order to keep making isk.
CCP releases and patches routinely have opportunities. Scan through the changes to see what might have opened up. Even if the obvious has already been seized, you can sometimes score with higher order effects that weren't anticipated by those coming before you.
7) You need isk to make isk. You can trade with 1 or 100 million isk, but I felt like things really started to open up at a billion isk. That seems to me the bare minimum for a player focused on trade or industry for their income.
8)Trade skills are your friend. For anyone who does significant trade volume, the four most valuable trade skills are accounting, broker relations, margin trading, and social. Margin trading is a powerful way to leverage your existing capital to place more buy orders. It's generally considered the best trade skill. The other three reduce your trade fees and taxes (social skill works indirectly by reducing the effort it takes to raise corporation and faction standing). There are other trade skills that allow you to place more market orders and contracts. More orders generally translates into more trade. Finally, there are skills to place remote market orders. These save you time and effort which we already know is your most valuable asset.
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Babyface One
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Posted - 2011.02.19 14:08:00 -
[11]
Trading aint for everyone. You need the "x factor" to really be able to succeed in trading. Can you earn a few isk by buying low and selling high? Any idiot can do that, and if the idiot aint carefull she will get butt****ed by other traders.
Know your product Know your customers Location, location, location
In other words you want information, and when you have enough information prices become irrelevant.
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Roguehalo
Caldari Deep Core Mining Inc.
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Posted - 2011.02.19 14:43:00 -
[12]
Buying high and selling low is the key.
High level skills and faction standing are essential for this strategy.
Run missions and start trading in tandem for rapid increase in nav.
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Droidster
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Posted - 2011.02.21 19:54:00 -
[13]
I recommend playing the game roles (mission runner, manufacturer, pirate, miner etc) first. You will be a much more effective trader if you understand what people need and you can't get that knowledge in a vacuum sitting in a station.
_____________________________________________ I am not an alt |
Corcyrus Endymion
Caldari Excessum Corporation Excessum Gaming
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Posted - 2011.02.21 20:10:00 -
[14]
Edited by: Corcyrus Endymion on 21/02/2011 20:11:12
Originally by: Droidster I recommend playing the game roles (mission runner, manufacturer, pirate, miner etc) first. You will be a much more effective trader if you understand what people need and you can't get that knowledge in a vacuum sitting in a station.
In the time you waste on doing l1 missions and/or mining (*yuck*) veldspar could be spend learning the wonders of the ammo market and making infinitely-1 more isk straight of the hook. I would only complete the tutorials (all of them) and then get right down to business.
Actually making large amounts percentage wise is both relatively easy to do at the start and pretty satisfying in and off itself. If this is what you like to do ofcourse, which considering the OP and the forum I assume it is.
Originally by: Roguehalo Buying high and selling low is the key.
High level skills and faction standing are essential for this strategy.
Run missions and start trading in tandem for rapid increase in nav.
Let me translate this: The secret is volume and turn over velocity. There I said it
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haav0c
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Posted - 2011.05.03 17:22:00 -
[15]
railman, your link seems to be broken for me, here's the working version.
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Mark Hamill
Amarr Galactic Waste Management
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Posted - 2011.05.03 17:54:00 -
[16]
This thread has some answers for you too. EVETycoon Marketing, trading and reprocessing tool. |
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