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Berni Madoff
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Posted - 2011.08.10 04:38:00 -
[1]
I am nearing my self imposed retirement quota for kills and want to begin a new PVP adventure with trading, where to start? If you can list some basic tools and resources I will need, I can take it from there. FTR I will probably start trading T2 drones too start learning the mechanics (As I know who many of them I have had to replace and at what expense). I am allocating 500m for the start-up of this operation. At this stage of the game i am interested in the essential tools of trade.
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Akita T
Caldari Navy Volunteer Task Force
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Posted - 2011.08.10 04:45:00 -
[2]
Your character name is... ahem... not very trust-inspiring.
As to where to start ? The one thing to remember in "station day trading" is that the items themselves matter very little.
All you need to know is how to properly read the market graph (it's not hard, it's almost self-explanatory - look for relatively stable prices but with a nice average near the middle of a sufficiently wide donchian channel), how to calculate potential profit from the current orders and intel gathered by looking at the graph (simple algebra with some guesstimates, also remember to cut volume in half when doing estimates) then just comb the market for items that have a "nice looking" graph regardless of what the item is (i.e. patience) and spread your orders across as many item types as possible (use at most half of your orders as buy orders, reserve the rest for subsequent sell orders, NEVER start with big orders early on, even 10% of daily volume is quite large).
Now, if you want to do any long-term speculative trading, things get a whole lot more complicated. _
Akita T USEFUL EVE LINKS collection |
odama jasonsson
Caldari Het Kruitvat Tin Can Alliance
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Posted - 2011.08.10 07:42:00 -
[3]
Edited by: odama jasonsson on 10/08/2011 07:42:11 If you want to learn the ropes of station trading I would not start with t2 stuff. It tends to move slow (buying anyways since ppl produce it rather then loot it). Start with some obvious mission loot and take it from there ;)
oh and always listen to akita :P --
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Valentine Gannon
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Posted - 2011.08.11 03:25:00 -
[4]
Edited by: Valentine Gannon on 11/08/2011 03:27:38 Hmmmm....You will find that this is not as easy as you think.
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Zagam
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Posted - 2011.08.11 13:49:00 -
[5]
Couple pieces of advice for rookie trading : 1. Don't try to monopolize a busy market. It won't happen, you're just killing everyone's profits. 2. Don't mark a sell order down by 1M when 1 ISK will do. All you're doing is nuking your own profits. 3. Do #1 and #2 enough, and a well-heeled trader in the same market will seriously undercut every order you have, possibly crashing the market on a few items, and then leaving you screwed with several items you *have* to take a loss on. In other words, market PvP. 4. Don't be afraid to ask questions of knowedlegeable traders, just be aware that many of us here on MD are bittervets, and our blood is made up of 80% cynicism, 10% sarcasm, and 10% "other". You will get trolled, don't take it personally.
Also... your name choice, while "interesting", is going to make it moderately more difficult for you to be taken seriously on here, considering the population of bittervets. ---------.oOo.---------- Chaos, Madness, and Destruction. My work here is done. |
Tigerras
Smash Incorporated
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Posted - 2011.08.11 13:56:00 -
[6]
Originally by: Zagam Couple pieces of advice for rookie trading : 1. Don't try to monopolize a busy market. It won't happen, you're just killing everyone's profits. 2. Don't mark a sell order down by 1M when 1 ISK will do. All you're doing is nuking your own profits. 3. Do #1 and #2 enough, and a well-heeled trader in the same market will seriously undercut every order you have, possibly crashing the market on a few items, and then leaving you screwed with several items you *have* to take a loss on. In other words, market PvP. 4. Don't be afraid to ask questions of knowedlegeable traders, just be aware that many of us here on MD are bittervets, and our blood is made up of 80% cynicism, 10% sarcasm, and 10% "other". You will get trolled, don't take it personally.
Also... your name choice, while "interesting", is going to make it moderately more difficult for you to be taken seriously on here, considering the population of bittervets.
The last 10% is alcohol....and sometimes it's much more than 10%
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Zagam
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Posted - 2011.08.11 15:23:00 -
[7]
Originally by: Tigerras
Originally by: Zagam Couple pieces of advice for rookie trading : 1. Don't try to monopolize a busy market. It won't happen, you're just killing everyone's profits. 2. Don't mark a sell order down by 1M when 1 ISK will do. All you're doing is nuking your own profits. 3. Do #1 and #2 enough, and a well-heeled trader in the same market will seriously undercut every order you have, possibly crashing the market on a few items, and then leaving you screwed with several items you *have* to take a loss on. In other words, market PvP. 4. Don't be afraid to ask questions of knowedlegeable traders, just be aware that many of us here on MD are bittervets, and our blood is made up of 80% cynicism, 10% sarcasm, and 10% "other". You will get trolled, don't take it personally.
Also... your name choice, while "interesting", is going to make it moderately more difficult for you to be taken seriously on here, considering the population of bittervets.
The last 10% is alcohol....and sometimes it's much more than 10%
I was trying to give some of us credit for not being total lushes... but you're right.. its sometimes >10%. ---------.oOo.---------- Chaos, Madness, and Destruction. My work here is done. |
Amrumm
Rhetorical Devices
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Posted - 2011.08.11 16:38:00 -
[8]
Originally by: Zagam Couple pieces of advice for rookie trading : 1. Don't try to monopolize a busy market. It won't happen, you're just killing everyone's profits.
You make it sound like that is a bad thing.
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Lee Anderson
Eternal Profiteers
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Posted - 2011.08.12 05:53:00 -
[9]
Originally by: Valentine Gannon Edited by: Valentine Gannon on 11/08/2011 03:35:53
Quote: new PVP adventure with trading
Hmmmm....You will find that this is not as easy as you think...I give you a week before you throw in the towel and go back to your gate camp.
what are you talking about? Trading is very easy ( if you know how "IF" ) as it seems from what you posted Quote: Hmmmm....You will find that this is not as easy as you think...I give you a week before you throw in the towel and go back to your gate camp.
then it seems you don't know how easy it really is. Did what i say make sense? i hope not because it did not to me. I think i just made my self look like a arse or stupid >.> ------------------------------------------ My site http://www.mygamerbook.com |
OllieNorth
Gallente R-K Industries
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Posted - 2011.08.12 15:05:00 -
[10]
Edited by: OllieNorth on 12/08/2011 15:05:29
Originally by: Lee Anderson Trading is very easy, jsut create a scam thread and bump it for months until people get tired of seeing you and give you ISK.
Confirming Lee Anderson is a great trader.
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Zagam
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Posted - 2011.08.12 15:10:00 -
[11]
Originally by: Amrumm
Originally by: Zagam Couple pieces of advice for rookie trading : 1. Don't try to monopolize a busy market. It won't happen, you're just killing everyone's profits.
You make it sound like that is a bad thing.
heh.
killing profits = bad, since its not just everyone else's profits that get killed... yours get hurt too.
wasting money trying to monopolize a market = see above ---------.oOo.---------- Chaos, Madness, and Destruction. My work here is done. |
Kesshisan
Minmatar
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Posted - 2011.08.12 15:53:00 -
[12]
Originally by: Zagam heh.
killing profits = bad, since its not just everyone else's profits that get killed... yours get hurt too.
wasting money trying to monopolize a market = see above
Not everybody's profits get killed. When you try to sell something very cheap in an attempt to monopolize a product in a trade hub I buy them and move them to other trade hubs (or even back-water systems) for great profit.
I also have perfect reprocessing and >6.67 standings with Caldari Navy. Many times people will undercut to the point that I can buy, reprocess, sell and make a profit in just a few moments.
But you go on thinking that there's no profit to be made when people undercut too hard. I'll be there to help "clean up" the mess. :)
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Zagam
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Posted - 2011.08.12 15:59:00 -
[13]
Originally by: Kesshisan
Originally by: Zagam heh.
killing profits = bad, since its not just everyone else's profits that get killed... yours get hurt too.
wasting money trying to monopolize a market = see above
Not everybody's profits get killed. When you try to sell something very cheap in an attempt to monopolize a product in a trade hub I buy them and move them to other trade hubs (or even back-water systems) for great profit.
I also have perfect reprocessing and >6.67 standings with Caldari Navy. Many times people will undercut to the point that I can buy, reprocess, sell and make a profit in just a few moments.
But you go on thinking that there's no profit to be made when people undercut too hard. I'll be there to help "clean up" the mess. :)
Ok, let me clarify my comments -
1. dropping sell orders/raising buy orders to unsustainable levels does not benefit local market traders, as their margins are eliminated or reduced to a bare minimum. 2. While inter-regional traders and refiners benefit, those traders and refiners are exactly why its impossible to monopolize a market with this tactic. If you (or others similar to you) swoop in and take all the items for inter-regional trade and/or refining, you're taking the lowest hanging fruit off the market, restoring the equilibrium. In effect, your actions serve as a price floor for the product (and absurdly high buy orders get filled quickly by intra-regional traders from outside the region to act as a price ceiling).
---------.oOo.---------- Chaos, Madness, and Destruction. My work here is done. |
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