Gojira Haginen
EVE University
Ivy League
0
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Posted - 2014.07.01 18:28:00 -
[1] - Quote
This is my main source of income 'till i started to play EVE again.
I think that i can give you some advice, not in a specific order, as i remember them:
1) It's hard to trade in Jita if you don't have enough time to update your orders. I can keep EVE opened all game and i'm able to update my orders every half hour for about 8-10 hours a day.
2) I suppose you trained your skills, so you can afford just 5% margin. Anyway, in my mind, 5% = 0%. I never trade something that have a lower margin than 15%. I found that Jita provides enough items that can be traded over this value, much more than i can buy. And, for Jita, as it is such a dynamic market, higher margin offers you much better safety net than smaller one.
3) Be careful for margin trading scams. I know i lost about 200 mil ISK on one of those and ended up with some overpriced items. Alot of them. Will cover how i got rid of them. If something looks too good to be true, probably is.
4) Don't sell items just to get rid of them, if you are not gonna make enough profit in the end. And i come back on my margin trading scam. I was scammed, ended up with few million ammunition that i was not able to sell and make a profit. First of all, i checked other markets. Amarr was doing great on that item, so i hauled a part of them and sold there. About 10% of all items that i had. Were not many orders so i just sold them directly, without making sell orders, as it was hard for me to update them. After that, i still had alot of items in Jita. I had an idea about controlling the market. I started to rise up the price of the buy orders by placing small quantities at very high prices. Some of the other players played the .01 game with me, and this was all that i wanted. Kept doing that 'till players that had sell orders felt that they should not wait anymore for their items to sell and just cancel their orders and selling them directly on buying orders. This way, the market on that item freed up and i was able to rise the prices.
*Don't know if my example was is too easy to understand, but i hope it is. My English it's not great, sorry for that.
5) Don't focus on a single type of items. As you said, that you were selling some T3, then you decided to try some T2 items. Market is huge. Buy and sell whatever can bring you big profit as fast as possible.
6) Try to place buy orders that you can hope to be completed fast. Don't think that you can place a buy order and you will have the items in one month. Try to place orders in a way that will allow you to place others next time you open EVE. I always watch "Price History" tab. I always try to place a buy order that is maximum 1/2 of number of items that are traded daily. Same goes for the sales. Sale items as soon as you have them in the hangar. As Broker's fee and taxes are calculates as percentage, there is no point in waiting to have all items that you want to buy to sale them.
7) Don't play "+0.1 game" when it's not needed, and be deceptive when you can. Let's say you want to sell 50 items at 59,98. Someone came and puts one item at 59,97. There is no point in lowering the price at 59,96, as he put only one item. Just wait for that item to sell and you will be first again.
8) Try to find "golden items". I like to call them this way as they actually are. There are some items that don't sell in very high numbers, but steady, and they have huge margins (over 70%). One example, for me, was Ibis. Ibis was an interesting item for Jita. Many beginners will sell them when they will get an upgrade. Most of the time, probably, it's their first trade, selling that Ibis. They will sell at whatever offer will apear on the screen. On the other hand, many times, they will loose them. So, as a capsuleer with maybe a venture in Jita, they will search the market for Ibises and buy one, as they don't know they can get a free one by docking their capsule anywhere they don't have ships. I was buying Ibises with around 7k ISK and was selling them for over 55k. Over 85% margin. Imagine i was selling 50-100 per day. So was a steady profit for about 2 weeks, over 2 mils every day just from selling Ibises.
Can't remember more things now. Will come back when i'll do. Hope my thoughts helps you somehow.
Fly safe! |