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Alice lnChains
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Posted - 2011.05.14 04:02:00 -
[1]
Edited by: Alice lnChains on 14/05/2011 04:11:06
Hi
Yesterday i set up a buy order for 30 Dragonflies for 12.7mil apiece. Today i see that i have gotten 20 of them at once for the price i set(12.7mil) which makes the total cost for 20, 254mil. But at the same time i see from the journal that there has been an extra 115mil taken off for market escrow... Its not sales tax.
Can someone explain why that happened?
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Brock Nelson
Caldari
T2 Technologies Unlimited
SRS.
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Posted - 2011.05.14 04:43:00 -
[2]
Well, if its not sales tax, what does the journal entry say?
Investor Relation | BSAC SE Listing |
Alice lnChains
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Posted - 2011.05.14 04:59:00 -
[3]
It says Market Escrow authorized my me. It was taken out of my wallet at the same time as the deal was made.
Can it have something to do with Margin trading? I have it at lvl 2.
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Lederstrumpf
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Posted - 2011.05.14 05:50:00 -
[4]
For market orders you do pay in advance, unless you've got an escrow reduction due to margin trading skills.
12.7 * (30-20) - (margin trading reduction) = 115m !?
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Alice lnChains
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Posted - 2011.05.14 06:14:00 -
[5]
So let me see if i get it corretly.
When i set up a buy order for 30 Dragonflies with the price of 12.7mil ISK each, making the total of 381mil ISK then i need to set aside market escrow of 381 mil ISK. As i have Margine trading at lvl 2 it reduces it by 50per cent making the total escrow needed at the time of the placement of the Buy order 190.5mil ISK.
As i bought 20 Dragonflies at once the market takes a part of the remaining escrow from my wallet.
Is that right?
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Mark Hamill
Amarr
Galactic Waste Management
EVE Trade Consortium
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Posted - 2011.05.14 06:35:00 -
[6]
 Originally by: Alice lnChains
So let me see if i get it corretly.
When i set up a buy order for 30 Dragonflies with the price of 12.7mil ISK each, making the total of 381mil ISK then i need to set aside market escrow of 381 mil ISK. As i have Margine trading at lvl 2 it reduces it by 50per cent making the total escrow needed at the time of the placement of the Buy order 190.5mil ISK.
As i bought 20 Dragonflies at once the market takes a part of the remaining escrow from my wallet.
Is that right?
Correct. If you did not have margin trading, the entire 381 mil would have been put in escrow when you made the buy order.
What it took out of your wallet at the time of purchase was half what the 20 Dragonflies cost you to buy. The other half was already in escrow.
You now have enough in escrow to buy half of 10 with the other half to come out of your wallet when purchased.
EVETycoon Marketing, trading and reprocessing tool. |
Alice lnChains
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Posted - 2011.05.14 08:22:00 -
[7]
Thank you.
Mystery solved.
TBH that Margine Trading skill just spreads confusion.
If you do not have the funds you should not be able to buy. Period.
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Chevalleis
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Posted - 2011.05.14 08:31:00 -
[8]
Originally by: Alice lnChains
Thank you.
If you do not have the funds you should not be able to buy. Period.
It's mostly for if you don't have sufficient funds to place a buy order for the full price atm but know that there will be income shortly, you can put a buy order for say half the price and when you have the ISK ready you can just add it up. Or at least this is how I understand it.
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Hel O'Ween
Men On A Mission
EVE Trade Consortium
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Posted - 2011.05.14 09:15:00 -
[9]
Edited by: Hel O''Ween on 14/05/2011 09:17:09
Well, as you can see, you were able to buy those items. 
And if your wallet is exhausted by the time the escrow is spent and someone wants to sell you another batch of items, the order will be cancelled (and you will lose your broker fees that way). So, actually you can't buy something without having the money.
The Margin Trading skill is there to keep you liquid while making sure you can set up a constant flow of supply. You buy something, you put it on the market and sell it. by the time your escrow has been used, there's (hopefully) enough money in your wallet again to afford the next batch of purchases. Rinse, repeat.
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EVEWalletAware - an offline wallet manager |
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