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Dandrenn
Deep Core Mining Inc. Caldari State
3
|
Posted - 2013.07.24 14:12:00 -
[1] - Quote
I've found about 15-20 items that i put into my quickbar and have about a billion isk (including the 140 mill selling and 150 buying on the market).
I don't have any ships or BPO's that i'm station trading (perhaps that's the issue?), it's mostly ammo, lasers, that sort of think.
I hear some people on here making 100m a day doing station trading. I'm lucky if i make 10m. Does this involve playing the game all day long or something? I guess i'm asking for advice on how to approach station trading "correctly" besides "buy low sell high" which is obvious. I'm in Jita. |
Daniel Plain
Science and Trade Institute Caldari State
1305
|
Posted - 2013.07.24 14:23:00 -
[2] - Quote
well, having more market orders will help. if i feel like going OCD for a day, i clear up at least 100 orders for two dozen or so items, get a huge cup of coffee and then spend a few hours cycling through the orders like a monkey. that said, there are other, bigger opportunities to cash out other than just daytrading.
"I don't troll, I just give overly blunt responses that annoy people who are wrong but don't want to admit it. It's not my fault that people have sensitive feelings" -MXZF |
Rhivre
TarNec Invisible Exchequer
341
|
Posted - 2013.07.24 14:26:00 -
[3] - Quote
First, if you have 140m in sell orders and 150m in buys (so 290 total), then 10m/day is a bit low, but not terrible.
10% a day should be easily doable, so around 30m/day.
The people you see getting 100m/day are not investing 300m :)
I usually run 10-20 orders when station trading, if I use all 273 it drives me crazy after a few hours :p
My method for finding items is:
1) Does the item have 10% margin? 2) Does the item shift more than 500/day? (Ideally 1k/day) 3) Does the item go equally to buy and sell?
If it doesnt have 10% between buy and sell, I may still trade it, but it is more susceptible to fluctuations.
the 500/day is purely for T2 modules, things like T2/Faction ships are slower movers, but have often bigger margins (Same for faction modules).
If it looks like it is profitable, and moves enough volume, then I check the history table to see if it goes equally to buys and sells, as there is no point having a 50% margin if no one ever fills a buy order.
I also check the number of competitors. Sometimes I dont care how many there are, but for laid back trading, fewer is better.
If these criteria are fulfilled, then I will stick a test buy order up for a small amount, to see how long it takes to fill. As soon as I get 1 module, I flip it to see how long it takes to sell.
Also, while waiting for stuff to fill, I look through the market for either:
Overfilled buy orders (those bunches of items 0.01 above the buy order price) to grab without having to pay broker fees \o/ or Items which have had a rapid shift in price (An unexpectedly large margin, like when, say all the caracals got bought out). |
Dandrenn
Deep Core Mining Inc. Caldari State
3
|
Posted - 2013.07.24 14:30:00 -
[4] - Quote
Daniel Plain wrote:well, having more market orders will help. if i feel like going OCD for a day, i clear up at least 100 orders for two dozen or so items, get a huge cup of coffee and then spend a few hours cycling through the orders like a monkey. that said, there are other, bigger opportunities to cash out other than just daytrading.
Yeah i'd love to try my hand at research or industrial stuff but have no idea where to begin or what i should start out with. I kinda started station trading because i was in the stock business in real life for a year or two and learned some stuff there so it made sense i suppose. |
Dandrenn
Deep Core Mining Inc. Caldari State
3
|
Posted - 2013.07.24 14:31:00 -
[5] - Quote
Rhivre wrote:First, if you have 140m in sell orders and 150m in buys (so 290 total), then 10m/day is a bit low, but not terrible.
10% a day should be easily doable, so around 30m/day.
The people you see getting 100m/day are not investing 300m :)
I usually run 10-20 orders when station trading, if I use all 273 it drives me crazy after a few hours :p
My method for finding items is:
1) Does the item have 10% margin? 2) Does the item shift more than 500/day? (Ideally 1k/day) 3) Does the item go equally to buy and sell?
If it doesnt have 10% between buy and sell, I may still trade it, but it is more susceptible to fluctuations.
the 500/day is purely for T2 modules, things like T2/Faction ships are slower movers, but have often bigger margins (Same for faction modules).
If it looks like it is profitable, and moves enough volume, then I check the history table to see if it goes equally to buys and sells, as there is no point having a 50% margin if no one ever fills a buy order.
I also check the number of competitors. Sometimes I dont care how many there are, but for laid back trading, fewer is better.
If these criteria are fulfilled, then I will stick a test buy order up for a small amount, to see how long it takes to fill. As soon as I get 1 module, I flip it to see how long it takes to sell.
Also, while waiting for stuff to fill, I look through the market for either:
Overfilled buy orders (those bunches of items 0.01 above the buy order price) to grab without having to pay broker fees \o/ or Items which have had a rapid shift in price (An unexpectedly large margin, like when, say all the caracals got bought out).
Thanks for explaining the stuff in this post. I do have a question when you say "does the item go equally to buy and sell". What does that mean?
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Rhivre
TarNec Invisible Exchequer
341
|
Posted - 2013.07.24 14:35:00 -
[6] - Quote
When you look at the price history table, it shows a Low, High and Average price
The low (especially in the forge) is the buy price usually, the High is the sell price, and the average, is, well, the average.
If the average price is close to the low price, the item primarily goes to buy orders, and if it is closer to the high price, then it primarily goes to sell orders. If the price is pretty close to halfway between the low and high price, then it means it goes fairly equally to buys and sells.
Example (Made up item)
Low: 100 High. 200 Average: 110 <------ This item goes mostly to buy orders
Low 100 High 200 Average 190 <------------- Primarily to sells
Low 100 High 200 Average 150 <------------- Goes to both buys and sells about equally.
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Dandrenn
Deep Core Mining Inc. Caldari State
3
|
Posted - 2013.07.24 14:37:00 -
[7] - Quote
Rhivre wrote:When you look at the price history table, it shows a Low, High and Average price
The low (especially in the forge) is the buy price usually, the High is the sell price, and the average, is, well, the average.
If the average price is close to the low price, the item primarily goes to buy orders, and if it is closer to the high price, then it primarily goes to sell orders. If the price is pretty close to halfway between the low and high price, then it means it goes fairly equally to buys and sells.
Example (Made up item)
Low: 100 High. 200 Average: 110 <------ This item goes mostly to buy orders
Low 100 High 200 Average 190 <------------- Primarily to sells
Low 100 High 200 Average 150 <------------- Goes to both buys and sells about equally.
(Always cross check the high and low price against the current market price as well, and take a glance down the Avg price for the last month, to see which direction the price is going)
interesting, i never looked at that part of it. I essentially just looked if it sold a decent amount (1k?) per day in terms of volume and if the buy orders were much less (30-40% at least) of the sell orders. I'll look at that though. |
Grozen
Titan Core
13
|
Posted - 2013.07.24 17:30:00 -
[8] - Quote
Its pretty simple actually.The more isk you have the more you can make for example I can make that 10m profit you make in hour bying and selling 1item because the cash i inject into trading it is equal to your wallet.Now imagine someone with 200billion.They can spread themselves among several regions with several thousand orders most of the time barely loging few times a day to update orders.That's how its done. knowledge is power. |
Eliram Kahoudi
Big Red Rabbits
10
|
Posted - 2013.07.24 21:22:00 -
[9] - Quote
grozen is right, i went from investing 10b or so to 20b from a character sale and my income almost doubled with that invenstment. its pretty straight forward after you get going with it.
more orders is the key for you though. 15 orders isnt alot try to bump it to 100 with your capital and see how you do.
i normally have around 200 up at any given time. |
coldplasma
Serene Vendetta Li3 Federation
47
|
Posted - 2013.07.24 22:13:00 -
[10] - Quote
I would tell you, but that would make you a direct competitor to me |
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coldplasma
Serene Vendetta Li3 Federation
47
|
Posted - 2013.07.24 22:16:00 -
[11] - Quote
Rhivre wrote:First, if you have 140m in sell orders and 150m in buys (so 290 total), then 10m/day is a bit low, but not terrible.
10% a day should be easily doable, so around 30m/day.
The people you see getting 100m/day are not investing 300m :)
I usually run 10-20 orders when station trading, if I use all 273 it drives me crazy after a few hours :p
My method for finding items is:
1) Does the item have 10% margin? 2) Does the item shift more than 500/day? (Ideally 1k/day) 3) Does the item go equally to buy and sell?
If it doesnt have 10% between buy and sell, I may still trade it, but it is more susceptible to fluctuations.
the 500/day is purely for T2 modules, things like T2/Faction ships are slower movers, but have often bigger margins (Same for faction modules).
If it looks like it is profitable, and moves enough volume, then I check the history table to see if it goes equally to buys and sells, as there is no point having a 50% margin if no one ever fills a buy order.
I also check the number of competitors. Sometimes I dont care how many there are, but for laid back trading, fewer is better.
If these criteria are fulfilled, then I will stick a test buy order up for a small amount, to see how long it takes to fill. As soon as I get 1 module, I flip it to see how long it takes to sell.
Also, while waiting for stuff to fill, I look through the market for either:
Overfilled buy orders (those bunches of items 0.01 above the buy order price) to grab without having to pay broker fees \o/ or Items which have had a rapid shift in price (An unexpectedly large margin, like when, say all the caracals got bought out). it's not this serious though OP, so don't worry |
Rhivre
TarNec Invisible Exchequer
344
|
Posted - 2013.07.25 00:22:00 -
[12] - Quote
Heh, thats not serious :p it takes about 5 minutes to do ^^
Its less serious than setting up 200 orders for region trading :p |
Felicity Love
Whore and Peace
758
|
Posted - 2013.07.25 02:34:00 -
[13] - Quote
Reading Dev Blogs and figuring out what the next changes / expansions to the game will include is almost always a good way to make some ISK on the markets -- and requires some amount of patience from the investor.
If you like flipping ISK everyday, then that's a different "play" and you should seriously consider getting very intimate with a few dozen commodities and thus figuring out when and how to flip from one commodity to the next as prices fluctuate.
Alcohol helps. YMMV.
Proud Beta Tester for "Bumping Uglies for Dummies" |
Samroski
Games Inc. The Night Crew Alliance
282
|
Posted - 2013.07.25 04:40:00 -
[14] - Quote
Felicity Love wrote: Alcohol helps. YMMV.
Being wasted works both ways.
When I was managing >3000 market orders, making 100m/day was very easy. Hell, making 10 times as much was pretty "easy".
Now I manage 300-600 orders, updated occasionally (sometimes not for months), and with revenue that averages less than 100m/day, with about 20-60b worth of sell orders. Any colour you like. |
Zappity
Red Federation RvB - RED Federation
201
|
Posted - 2013.07.25 07:22:00 -
[15] - Quote
Samroski wrote:Felicity Love wrote: Alcohol helps.YMMV.
Being wasted works both ways. When I was managing >3000 market orders, making 100m/day was very easy. Hell, making 10 times as much was pretty "easy". Now I manage 300-600 orders, updated occasionally (sometimes not for months), and with revenue that averages less than 100m/day, with about 20-60b worth of sell orders.
I doubt that low an amount is possible on 20b isk of orders. Or do you mean profit instead of revenue? Hooray, I'm l33t! -á(Kil2: "The higher their ship losses...the better they're going to be.") |
Samroski
Games Inc. The Night Crew Alliance
283
|
Posted - 2013.07.25 13:15:00 -
[16] - Quote
Zappity wrote:Samroski wrote:Felicity Love wrote: Alcohol helps.YMMV.
Being wasted works both ways. When I was managing >3000 market orders, making 100m/day was very easy. Hell, making 10 times as much was pretty "easy". Now I manage 300-600 orders, updated occasionally (sometimes not for months), and with revenue that averages less than 100m/day, with about 20-60b worth of sell orders. I doubt that low an amount is possible on 20b isk of orders. Or do you mean profit instead of revenue? I mean revenue. I'm just being honest here. I've made more than a bil a day revenue in the past, but now I am not motivated to work for my money. Thus I just dump lots of stuff on the market (not Jita, or any of the other major hubs) and leave it be for at least one month, usually 3. The revenue is much more than 100b a day at the start, but after a couple of weeks it trickles down to a small stream. The average is less than 100m/day.
Once or twice a year I get motivated and do some active trading, when the revenue does go up a bit.
And yes, I have also dabbled in patch speculation over the last two or three years, with variable success. Am wary of this.
I also buy stuff at Jita when it hits rock bottom, and hang on to it for months or years, till it doubles or till I get sick of looking at it.
There. That is my trade strategy, except a list of the hubs I trade in, and one minor, but relatively useful trade "secret" :) Any colour you like. |
North Vladimir
Republic Military School Minmatar Republic
0
|
Posted - 2013.07.26 05:28:00 -
[17] - Quote
If you wanna be a station trader, standing is important the lowest broker fee would be 0.18% , 0.75% none standing Think about, how much tax you paied |
flakeys
Arkham Innovations
1243
|
Posted - 2013.07.26 05:36:00 -
[18] - Quote
North Vladimir wrote:If you wanna be a station trader, standing is important the lowest broker fee would be 0.18% , 0.75% none standing Think about, how much tax you paied
I have only had one character that ever had/has any decent standing for the station he was trading in so i say not needed.
It can be helpfull offcourse but not something you need to focus on.
We are all born ignorant, but one must work hard to remain stupid.
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Bad Bobby
Bring Me Sunshine
211
|
Posted - 2013.07.26 07:18:00 -
[19] - Quote
flakeys wrote:North Vladimir wrote:If you wanna be a station trader, standing is important the lowest broker fee would be 0.18% , 0.75% none standing Think about, how much tax you paied I have only had one character that ever had/has any decent standing for the station he was trading in so i say not needed. It can be helpfull offcourse but not something you need to focus on. It depends on what and how you trade.
If you trade a large volume of low margin items then cutting out fees will make a big difference.
If you trade high margin items then not so much.
There are styles of trading that are only viable with minimal fees, just like there are styles of trading that are only viable if you are prepared to camp your orders and 0.01 constantly. You do not have to adopt those styles of trading if you do not want to. |
flakeys
Arkham Innovations
1243
|
Posted - 2013.07.26 07:32:00 -
[20] - Quote
Bad Bobby wrote:flakeys wrote:North Vladimir wrote:If you wanna be a station trader, standing is important the lowest broker fee would be 0.18% , 0.75% none standing Think about, how much tax you paied I have only had one character that ever had/has any decent standing for the station he was trading in so i say not needed. It can be helpfull offcourse but not something you need to focus on. It depends on what and how you trade. If you trade a large volume of low margin items then cutting out fees will make a big difference. If you trade high margin items then not so much. There are styles of trading that are only viable with minimal fees, just like there are styles of trading that are only viable if you are prepared to camp your orders and 0.01 constantly. You do not have to adopt those styles of trading if you do not want to.
That i agree with BB and as said usefull it is , however if i had to choose what helped me the best at the start of my trade career then standing would be way down on the list.Skills however is something wich is VERRY important.
I'd recommend to players who start trying trade to focus on skills and knowing the market and when they feel they are gonna stick their teeth in after a few months then have a look at standing options available.
We are all born ignorant, but one must work hard to remain stupid.
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Brewlar Kuvakei
Adeptio Gloriae
230
|
Posted - 2013.07.26 09:17:00 -
[21] - Quote
It's easy. Buy any mod from Jita over 1m ISK fly it to any other trade post and sell it for 1m more. When all your stock is bought up repat. |
Wafflehead
Garoun Investment Bank Gallente Federation
6
|
Posted - 2013.07.26 10:42:00 -
[22] - Quote
Its all about the capital for me, that's why I ask for investors to increase it.
The more money you have to use the more you will make!. Focus on your orders and cherry pick the ones that are going to make you a profit.
Also you need to track your profits, working out your most profitable sell over the X days.
I would recommend one of these:
http://192.40.57.168/war/EVE-Profit/overview/ http://pwning.de/neat/ |
Bad Bobby
Bring Me Sunshine
211
|
Posted - 2013.07.26 12:37:00 -
[23] - Quote
Wafflehead wrote:Trade in high volume items, no point making a 25% profit if only 4 are traded each day. Unless it's a high value item.
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Wafflehead
Garoun Investment Bank Gallente Federation
6
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Posted - 2013.07.26 14:53:00 -
[24] - Quote
Bad Bobby wrote:Wafflehead wrote:Trade in high volume items, no point making a 25% profit if only 4 are traded each day. Unless it's a high value item.
I don't bother with low traded items unless there isn't alot of competition. The profit may be there but that's if you can manage to buy/sell them. |
Rhivre
TarNec Invisible Exchequer
347
|
Posted - 2013.07.26 15:25:00 -
[25] - Quote
I usually have a low volume high value item or two on my list, simply cos when it sells it is worth a bunch of the profit from the other items. |
Bad Bobby
Bring Me Sunshine
214
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Posted - 2013.07.26 16:28:00 -
[26] - Quote
Wafflehead wrote:Bad Bobby wrote:Wafflehead wrote:Trade in high volume items, no point making a 25% profit if only 4 are traded each day. Unless it's a high value item. I don't bother with low traded items unless there isn't alot of competition. The profit may be there but that's if you can manage to buy/sell them. Yes, it's a case of horses for courses.
I may be well suited to selling high ticket items, person-to-person, using interpersonal skills, extensive knowledge of my product and well received after-sales service. I have little involvement with the market interface, do most of my deals over voice comms and focus a great deal on customer satisfaction and repeat business over first contact profit.
You may be well suited to flipping fast moving items in a busy station using brute force 0.01 with only the slightest contact with your customer.
There are many, many different approaches to trade in EVE that are successfull in the right hands. As a player interested in making money through some kind of trade you need to spend some time finding the approach that suits your personal talents and avoids exposing your weaknesses.
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flakeys
Arkham Innovations
1244
|
Posted - 2013.07.26 17:03:00 -
[27] - Quote
Wafflehead wrote:Bad Bobby wrote:Wafflehead wrote:Trade in high volume items, no point making a 25% profit if only 4 are traded each day. Unless it's a high value item. I don't bother with low traded items unless there isn't alot of competition. The profit may be there but that's if you can manage to buy/sell them.
Indeed depends on competition.
I've done a fair bit of mothership/titan bpo resales last year.Absorbed a good chunk of the wallet and was slow moving as hell but also only needed 10 secs a day or so to bump a thread if even that.In the end if it netts you 1-10 B a sale and you got the pockets for it then i rather take a slow moving items with little competition then a fast moving one with lots of competition.
We are all born ignorant, but one must work hard to remain stupid.
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North Vladimir
Republic Military School Minmatar Republic
0
|
Posted - 2013.07.27 11:00:00 -
[28] - Quote
Dont care of the price going. goes to low or high ,or average.If you are a station 0.01 trader. Maybe based on your standing You had none standing ,Broker Fee is 0.75%(buy and sell compeled).Tax is 0.75%(buy and sell) So (0.75%+0.75%)*2=3% in total. calculate your profit fast (sell price - buy price)/sell price >3% do it <3% out of luck |
Minmat Sebtin
House of Sebtin
126
|
Posted - 2013.07.27 13:35:00 -
[29] - Quote
Bad Bobby wrote:
I may be well suited to selling high ticket items, person-to-person, using interpersonal skills, extensive knowledge of my product and well received after-sales service.
If this a phrase from a marketing textbook? Just wondering because a local car mechanics use nearly that exact sentence in their radio advert. Are you an Industrialist who uses large amounts of Construction Components? Looking for ways to reduce costs? Then I can help you! |
Rykker Bow
80
|
Posted - 2013.07.27 14:39:00 -
[30] - Quote
Some have wondered in the past how I made my money while station trading so I'll pipe in, finally
A quick background for those who donGÇÖt know me, it has been a while since IGÇÖve been in the game. My last public bond utilized a total of about 100 billion in both public and personal funds in a station trading and manufacturing enterprise that yielded 175 billion in profits in two months. Previous public bonds were highly profitable, but not as much so as the last one. The station trading venture accounted for approximately 40% of the profits. Rough numbers, my last two bond threads have more solid numbers and one of them was audited with very detailed statistics (thanks VV!)
My system of station trading revolved around low work, high efficiency, low margin, high value goods. The most important part was creating a system of efficiency that found the right balance that maximized profit to time availability ratio. I never wanted the maximum profits, I wanted the highest wallet increase at the end of the day. Opportunity costs was always at the forefront. Sooo...for those of you who are interested, here is a quick recap of my operations:
SOP:
1. For identifying good items to trade, look for high value items that would yield a minimum of 1m in profits after taxes/fees assuming acquiring 5% of the market on buys. For example, a ship that trades 20 ships per day I would expect to buy 1 and would need to net 1m. As the sell side is usually quicker than acquisition, only the buy side is considered.
2. Efficiency. Trade time for less profits. My endgame profit/hour with station trading was roughly 700-800m per hour. My system went something like this: set up a buy order for 5 ships. Wait until all ships have been bought, then put 5 ships up for sale. This allows for easy accountability when dealing with a hundred buy orders. When you have a set of 5 ships in your inventory you can immediately put them up for sale and immediately put up a new order for 5 more ships. As the sell side will usually be quicker than the buy side, there is little chance to have an excess of stock. In the case that the buy side is quicker, you will easily see that you already have the same ships for sale and can hold off on buying more until they sell. This system can (and has!) led to profit losses from different scenarios but the profits from the 95% more than makes up for the loss of 5%. The downside to this is the massive need for capital to build up stock.
3. Cycles. All items have an organic ebb and flow that with a trained eye can be seen and profited on. The market graphs are your biggest friends and can be used extensively to determine if the item you're currently trading is under or overvalued. The use of this information will lead to much higher profits. This information was used EVERY time I traded and is the most important piece of information in the whole station trading game. Some high margin items can look great on the surface but be very volatile due to itGÇÖs overvaluation.
4. Manipulation. A dangerous but highly profitable game. My main use of manipulations was to artificially lead the markets into favorable cycles. Once I had the market where I wanted it and got as far as I could lead it, I would siphon every credit I could out of it. Down side to that use is the extensive recovery time for the item to reach normal levels again. One example, if the margin on an item is thin and past history for the item is favorable, it may be a good idea to manipulate the buy side lower AND bring the sell side down at the same time. Bringing the price down and the margin down with it can lead to a good scenario where you buy up everything as it is now undervalued, then relist it at itGÇÖs fair market value. Again, as before, when you bring the sell price back up to normal states you MUST bring the margins up as well to bring a sense of stability to the item. This is a game of finesse. Of knowing the item intimately. Of knowing how many traders are currently trading the item. Of knowing when to cut your losses when it begins to go bad. One of the most satisfying things in the game for me was to look at the graphs of an item after IGÇÖve finished with the manipulation. Reactions in the chats usually start with: wtf happened to GǪ...
5. Patches. Highest yields in the game for the effort involved. Read the dev blogs and get in of the forums and chat groups. ItGÇÖs not unheard of to make 5-10b in a day after a patch with solid speculations.
6. Speculations. Unless itGÇÖs for a patch, not really worth it for station trading. ItGÇÖs easy money but speculating on items you currently trade is counter productive, difficult to manage and can backfire easily.
GL
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