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Tsunamione
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Posted - 2006.02.02 15:14:00 -
[1]
Hi,
I'm a new EVE player (2 months) but I was thinking of this strategy:
Look in the region for an item that has a high selling volume, check the price history graph to determine it's current value. Buy the item when it's price is low. Leave the item in the station but check the price evolution daily. When The price of the item is high again, put a sell order. = profit
Does this work? can someone give me some more advice about this strategy?
I'm also not sure about the exact meaning of each graph in price history. Could someone tell me which graph is important and why? ...
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who'syodaddy
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Posted - 2006.02.02 15:25:00 -
[2]
Edited by: who''syodaddy on 02/02/2006 15:26:21 Yeah that works. Main catch is that you need to determine wether said item has a likelihood to rise in price in a reasonable period.
'reasonable period' being LESS than the amount of time that you would need to make the same profit investing in another item.
In EvE absolute profit means nothing. isk/hour invested playing means everything.
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Tsunamione
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Posted - 2006.02.02 15:34:00 -
[3]
Edited by: Tsunamione on 02/02/2006 15:43:48 Edited by: Tsunamione on 02/02/2006 15:39:10
Originally by: who'syodaddy Edited by: who''syodaddy on 02/02/2006 15:26:21 Yeah that works. Main catch is that you need to determine wether said item has a likelihood to rise in price in a reasonable period.
whee :) ... I'm not stupid
So in addition to what I've said, it would also be a good idea to invest in a range of items. Monitor each of them so you can sell constantly. also get my remote buying and selling skill up. So then I can do all the work from any place in the region.
One more thing I was thinking about: I've been reading some trade guides but most of them seem to be talking about trading in the same region. Personally I don't understand how this is usefull. I've checked buy and sell orders of items within the region but the profit you can make is always sooo small. I believe that trading between regions is much much more profitable. Do people really trade within a region????
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Emily Spankratchet
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Posted - 2006.02.02 16:07:00 -
[4]
Originally by: Tsunamione Do people really trade within a region????
Depends what they're trading really. It's changed a lot. When I started playing a little over a year ago, I did a lot of intra-region trading of NPC goods to make cash. It wasn't too hard, as there was a max of about 10K people online even at weekends. Now there are twice that number of players and the market seems to be a lot flatter within a region.
Having said that, there are still good routes for NPC goods in low-sec space that don't need you to keep a constant eye on the markets. I was in an old hunting ground of mine yesterday where there's an in-system route involving one supplier and two buyers. It didn't take much hauling between the stations to net a tidy profit.
Trading ships/modules/equipment has always required a little more thought than NPC tade goods. I wouldn't like to make such broad generalisations about this facet of trading.
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Angelina Starchild
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Posted - 2006.02.02 16:12:00 -
[5]
Originally by: Tsunamione Edited by: Tsunamione on 02/02/2006 15:43:48 Edited by: Tsunamione on 02/02/2006 15:39:10
Originally by: who'syodaddy Edited by: who''syodaddy on 02/02/2006 15:26:21 Yeah that works. Main catch is that you need to determine wether said item has a likelihood to rise in price in a reasonable period.
whee :) ... I'm not stupid
So in addition to what I've said, it would also be a good idea to invest in a range of items. Monitor each of them so you can sell constantly. also get my remote buying and selling skill up. So then I can do all the work from any place in the region.
One more thing I was thinking about: I've been reading some trade guides but most of them seem to be talking about trading in the same region. Personally I don't understand how this is usefull. I've checked buy and sell orders of items within the region but the profit you can make is always sooo small. I believe that trading between regions is much much more profitable. Do people really trade within a region????
It can be a good thing to purchase alot of items. But you will also have to keep in mind that your isk will become assets that are locked up and risk is that they will be for a long time, which is bad most often.
Why people trade in same region: The benefits of this is mainly that it is easier to gain access to market information, since market screen only offer within the same region, you also get a knowledge of how this region works. This is of course also valuable if you decide to trade between regions. You also don't have to travel very far.
Inter-region trading however, can have 'hidden' trade routes that you wont see very easily due to market being restricted to one region. There are however many inter-region routes that can be very profitable.
The difference in profit is in one fact not very large between regions, but due to the number of people who trade within the region, these 'routes' or 'trades' will be taken by other people more frequently, and thus the number of profitable routes/trades will decrease alot compared to inter-region since it is alot less people doing these.
___________________________________ Ample Shipyards is recruiting |
Tsunamione
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Posted - 2006.02.02 16:16:00 -
[6]
Originally by: Emily Spankratchet
Originally by: Tsunamione Do people really trade within a region????
Depends what they're trading really. It's changed a lot. When I started playing a little over a year ago, I did a lot of intra-region trading of NPC goods to make cash.
well ..actually that is the same thing I was doing one year ago. I played only for a month but I have reactivated my account now. I noticed that trading between regions was very profitable. It's a pitty that this strategy doesn't work anymore.
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Wyke Mossari
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Posted - 2006.02.02 17:27:00 -
[7]
Originally by: Tsunamione Hi, Look in the region for an item that has a high selling volume, check the price history graph to determine it's current value. Buy the item when it's price is low. Leave the item in the station but check the price evolution daily. When The price of the item is high again, put a sell order. = profit
Does this work? can someone give me some more advice about this strategy?
I'm also not sure about the exact meaning of each graph in price history. Could someone tell me which graph is important and why? ...
Yes, this is a valid strategy and is used in the real world and is called day trading. There is a skill which facilitates this which is also called day trading. I've used it to earn well over a billion isk on hydrogen batteries in a few months. Tips, dont wait to put the item for sale, put it on straight away. Learn more trade skills to increase the number of trades you have. Increase your accounting skills to reduce your trading costs. Learn Marketing and Procurement to modify your buy and sell prices dynamically.
The yellow dots are weighted average spot prices of trades made. The bar graph is measured against the numbers on the right which is the market volume. The purple band is the difference between the offers to sell and offers to buy and maps the number on the left. Look for wide bands.
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Tsunamione
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Posted - 2006.02.02 18:04:00 -
[8]
Edited by: Tsunamione on 02/02/2006 18:11:20 Edited by: Tsunamione on 02/02/2006 18:05:44
Originally by: Wyke Mossari
Tips, dont wait to put the item for sale, put it on straight away.
The yellow dots are weighted average spot prices of trades made. The bar graph is measured against the numbers on the right which is the market volume. The purple band is the difference between the offers to sell and offers to buy and maps the number on the left. Look for wide bands.
great advice! thanks ... So in fact a wide band means that there is a high difference between buy and sell offers. hmmz.. I don't really get the point of this but I'll probably figure it out later. .. oh and the graph is completely based on payed sell offers? So only after someone bought something from a sell offer, the graph gets updated. Well sometimes it's confusing :) You're also saying that I have to put it up for sale immediately...
let's use an example: I buy 1000missiles cheap, put them immediately on the market for the normal price which is much higher. Then just wait and sell? Won't it influence the market price evolution if I put them up for sale immediately?
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Wyke Mossari
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Posted - 2006.02.04 14:06:00 -
[9]
Originally by: Tsunamione So only after someone bought something from a sell offer, the graph gets updated. Well sometimes it's confusing :) You're also saying that I have to put it up for sale immediately...
There is a one day latency before the chart is updated, I've always assumed this is done during downtime but I'm not certain. I'm generally using it to find trends. I use the detail screen to see the current position.
Originally by: Tsunamione
let's use an example: I buy 1000missiles cheap, put them immediately on the market for the normal price which is much higher. Then just wait and sell? Won't it influence the market price evolution if I put them up for sale immediately?
Yes, subject to the latency. In a large bouyant market one aberant transaction will be lost in the noise.
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Cudaya Ebsldes
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Posted - 2006.02.10 07:00:00 -
[10]
I don't trade on a consistent basis any longer but, did you check the market prices of all items just after Red Moon Rising was made available? And/Or I haven't been able to get onto the test server but similar information should be available in the market there.
Basically what I noticed was all the ranges at which the NPC "pop" their buy and sell orders. This was raw data.
Ingame with players doing the buying a selling the spread narrowed, but in rather predictable ways.I still use such information in setting orders when I do trade.
I at the beginning was intrigued by the data maps that the market had but I find them really useless as it seems that the cycles that are produced (the general ups and downs in price ranges) are purely the result of player interaction. Players (as a rule) come to expect a certain ROE (return on equity) and if they don't get it they move to another trade. But the NPC "pop" formula does not change, and if no one traded then the NPC would "pop" at the raw data points. In the current market I would note that 0.04 and below trades are very near the original buy and sell points.
At one time I had almost a monopoly on trades for a certain item in a certain area. But I was running myself ragged hauling the stuff back and forth. RL I couldn't put that much time in anymore but was getting about 10% profit per trip with as much merch. as I could buy or haul... about 1.6+mill per trip... not like some of the killer trades I've read about but consistent daily trading with no futher researching needed. [...and 10% daily is 3,650% per annum ... or about 8 days to more than double your money.]
It's a bit of a pain if someone horns in on your trade and you have to set the sell order instead of selling immediately, but if you keep to the trade this will not happen frequently.
The only thing wrong with this system is the more capital you invest the more trades you have to make and the more time you have to spend making them, but it can enable you to make money for other things, and if you only use a certain amount of capital, then the "roe" is like getting interest on a bond or bank account with only a little work.
Unless, of course, something happens.
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Ritch Mahjuus
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Posted - 2006.02.11 11:35:00 -
[11]
1) Look for a base/system to buy Items for lowest price. 2) Trade with Items that need low Cargospace but high different buy/sell income. 3) Search for ALL near NPC-Stations with best price. 4) Make (or buy) bookmarks of all possible Tradingplaces for your choosen Tradingitems. (5-10 Jumps) 5) Buy as much you can, ship it to your choosen Sellbases and put Sellorders to Bestprice there. (after[!] you sell the most you can for Bestprice) 6) Do it 24/7 ;) 7) Invest all your Income in Marketdryout, bigger Transportships and Cargoexpander 24%+ 8) Allways try to be faster than the other Traders. 9) Tradingskills -> all Lv.5 10) Check your Orders (Wallet) close after Downtime and plan your Routes then. 11) Have fun, become ri(t)ch and pls excuse my bad english (I'm german ;-)
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Joseph Boeing
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Posted - 2006.05.16 15:10:00 -
[12]
Nice post Ritch. Goes towards the Keep It Simple Stupid rule I suppose. Question tho: Marketdryout? Whats that?
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