Extractor Bill
Togenada Heavy Industries
1
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Posted - 2015.03.11 23:15:31 -
[1] - Quote
- Activity will always be your biggest driver for return. What is profitable never stays that way. There are hundreds of people in that hub doing the same thing, and they too will find the profitable items eventually
- Patience is key, review each order in increments. Watching the same item and making sure your top order will only result in a price war. That is basically ensures your kill the profitability of that item.
- Diversity is key, do not put all your eggs in one basket. You can't have your fortunes tied to the price fluctuation of one item.
- If you buy a large quantity, place it back on the market in multiple orders along the average market size for that area. If you dump a large quantity on the market at in one order, your order becomes the price floor and a price war is likely.
- Start small. The overall value of an item doesn't mean your going to make more. It does however tie up more of your capital. Trade in a value range where you can afford to have a diverse array of items on the market. Do not tie it all up in one or two items because you will become desperate, watch that item, and likely start a price war
- You will make mistakes, its the cost of doing business. If you mess up with a gamble that just is not selling, and its eating up too much capital, its ok to sell it off aggressively. Capital tied up in a lost cause will have you miss opportunities to make more isk. However, that doesn't mean killing your order if its only been a few days.
- Never forget to that profitability has a factor of time involved. That means slower market hubs demand higher margins because your orders will remain on the market longer, and your isk will be tied up longer. If your in a slower hub and making Jita margins, its time to rethink.
Slow and steady. Yes there are stories of those who went from rags to riches quickly. However your talking 0.1% of those who have tried. If it could be duplicated easily, everybody would be swimming in isk. Use your brain, be smart, and be patient.
Do few things better, and expand as you master each thing you do.
Learn to read supply and demand. While some might say this will let you get rich through speculation (it does for very few), it will not likely do that. What it WILL do is help you make better decisions on when you need to change your business strategy, identify what is a bad investment, and what investments might have potential. |