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Celeste Benal
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Posted - 2011.04.21 17:52:00 -
[1]
Yes, it's true. There is a GM that is actually knowledgable about Eve Online. That GM's name is GM Raccoon. I got schooled.
In short, I flied a petition because I canceled a partially completed buy order that was placed with Margin Trading at 3. I was expecting to get a partial refund of my escrow based on the incomplete portion of the order. GM Raccoon kindly explained that the isk in escrow is actually used up before any savings are realized.
Numbers: Without getting into too much detail on my market activities, I placed a buy order for 5000 of something at a certain price. Margin Trading at 3 means I only had to put up 42.1875% of the total buy cost up front. I filled 64% of the order before canceling. Therefore the entirety of what was in escrow was already spent paying for product purchased, and thus I received no refund.
Moral of this story: know how your skills work. And don't cancel buy orders if they were placed with Margin Trading. Otherwise, you may as well have never trained it.
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Holdout
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Posted - 2011.04.21 19:50:00 -
[2]
I'm just curious...
If you have margin trading, and you're placing buy orders...
Why would you have ISK in your wallet?
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RavenPaine
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Posted - 2011.04.22 01:04:00 -
[3]
Trading on margin will let you spend MORE than you physically have in your wallet. Having the option doesn't mean you have to use it...
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Solstice Project
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Posted - 2011.04.23 17:42:00 -
[4]
aaaaahhhhhhhhh....... ........ now i get it !
Sooooo ... remember your orders ! :)
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Dethmourne Silvermane
Gallente Saiph Industries SRS.
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Posted - 2011.04.23 21:44:00 -
[5]
EVE margin trading works differently than RL margin trading.
In EVE, when you put up a buy order, you generally have to put up 100% of the ISK required to cover that buy up front. With margin trading trained, you reduce that percentage, to 24% (IIRC) of the amount having to be provided up front, and the rest trickling out of your wallet as the buy order fills. As OP discovered, the initial amount (for simplicity's sake we'll call it the "margin amount") gets used first, and only when your margin amount is used up does it start pulling straight from the wallet.
Note that although your wallet will show a pooled margin ISK pool, each order has its own margin amount - so even if your pool shows 2b ISK, if you have 0 ISK in wallet and your order for 1000 widgets has run out of margin ISK, it will cancel the order when the next widget sale is attempted.
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Whitehound
The Whitehound Corporation Frontline Assembly Point
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Posted - 2011.04.25 07:46:00 -
[6]
You actually thought that when you have to put up 42% of the ISKs for your order you would then only have to pay 42% of the items' value?
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Gillaboo
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Posted - 2011.04.25 11:31:00 -
[7]
Originally by: RavenPaine In RL margin trading, you will always use ALL of your own funds first, then use the margin to cover additional trades.
Pro tip: In RL trading, IF you're any good at it, you use other people's money...
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