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Nashira Corvus
Jurisfiction
0
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Posted - 2011.12.13 12:53:00 -
[1] - Quote
Hello all,
I'm a fairly new trader, enjoying poking at this. Bit of a question - how do you veteran traders respond when you get outbid by 1 isk or similar, particularly on buy orders? I know you can respond aggressively etc. but does anyone remain patient and wait for prices to fall again or higher bidders being fulfilled?
Just a question, I'm just curious, as I find I don't often have time to change my orders constantly... |
Alisarina
Center for Advanced Studies Gallente Federation
41
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Posted - 2011.12.13 13:02:00 -
[2] - Quote
depends on the item and if i know it's worth doing the 0.01 isk bidding war for. Usually it's worth it if it's a high turn over item, however if it IS a high turn over market, generally your competitions order will be filled pretty quickly and you no longer need to worry about it.
For a slow movement item, i will go at it for maybe 20-30 minutes whilst doing other order juggling to see if they are keen on a price war or are just logging in, updating their buy orders and logging off. If they are active, just leave em to it or also jump up 1-100 isk and see what they do (depending on the total cost of the item obviously). if they match you, try it again or just wait the 5 min timer and drop back to your original price and wait it out. |
Miss Margin
Miss Margin Corp
4
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Posted - 2011.12.14 17:42:00 -
[3] - Quote
In Jita I just wait there is enough traffic most orders get filled in a couple days max, if not then prices are rising/falling and I then adjust prices with more of a keen key.
In slower markets I'll make the change when I notice it but if someone 0.01 me 3 minutes later I just let it sit.
So i guess my TL:DR is mostly not worry about it. This character is for Sale, pure trade skills.-á https://forums.eveonline.com/default.aspx?g=posts&m=517979#post517979
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Merdaneth
Defensores Fidei Curatores Veritatis Alliance
43
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Posted - 2011.12.14 18:28:00 -
[4] - Quote
It depends on many factors:
1. The profit. I'm not going to 0.01 isk for a few baubles. 2. If I have good other investment opportunities and I want to liquidate my current investment to make better investments elsewhere 3. My expectation of the price development. If I think it will be trending upward, I'm happy to let my order stay, they will get sold eventually. If I expect the trend to be moving down (because I artificially raised the price by cornering the market), I want to sell as fast as possible to not lose more isk. |
Jack Cavanaugh
Mechanical Eagles Inc. The Ancients.
2
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Posted - 2011.12.14 21:36:00 -
[5] - Quote
It depends on volume turnover and who has the controlling price.
Lowest price doesn't usually equal controlling price. The seller with controlling price is usually the person with the lowest price and largest quantity, while factoring in turnover rate.
If the turnover rate is really slow then you the sellers might want to duke it out. However, if the turnover rate is high then the seller with the most stock doesn't usually have a lot to worry about.
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Shizuken
Venerated Stars
1
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Posted - 2011.12.15 06:23:00 -
[6] - Quote
Nashira Corvus wrote: - how do you veteran traders respond when you get outbid by 1 isk or similar, particularly on buy orders?
I usually undercut by a lot. They wont take the hit to their profit and my order sells for less. You don't make as much, but you don't have to babysit your orders either
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Doctor Invictus
Industry and Investments NZAU Alliance
2
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Posted - 2011.12.15 21:38:00 -
[7] - Quote
It depends on the market/commodity. To the extent that I trade, I basically buy minerals off the market cheap, aggregate them together into large stockpiles (well, large from my perspective), and then put them back on the market at an inflated price (because people will pay more for bulk). Since minerals anywhere near the market price clear pretty quickly, I'm not at all concerned when someone undercuts my 500 million units with 10,000 units, because their order is going to be cleared off the market in under 10 minutes, and then mine will be back to the first-buy for the station.
I will change my price if, for whatever reason, I start to get undercut by either a large number of small orders or one large order (basically if I'm on the wrong side of a high-volume price move), unless it starts to move so low that selling doesn't make sense for me (this has never happened to me... yet), in which case I'll just hold on to it. |
Abominare
The Spawning Pool Team Liquid
1
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Posted - 2011.12.15 22:02:00 -
[8] - Quote
Rule of thumb, anyone who does more than .01 is an idiot.
you will get undercut by .01 shortly afterwards in most worthwhile markets. So all you've really done is make yourself and everyone else lose out on money. |
Tasko Pal
Spallated Garniferous Schist
21
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Posted - 2011.12.16 04:15:00 -
[9] - Quote
Abominare wrote:Rule of thumb, anyone who does more than .01 is an idiot.
you will get undercut by .01 shortly afterwards in most worthwhile markets. So all you've really done is make yourself and everyone else lose out on money.
Rule of thumb, anyone who does things differently than I do is an idiot because they're doing it wrong. Anyone who trades with me is an idiot because trade that is advantageous to me cannot possibly be advantageous to anyone else. Anyone who interacts with me in any way is an idiot, but you people can't help being what you are.
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Stealing Honest
Stealing Honest Speculation Group LLC
18
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Posted - 2011.12.16 06:32:00 -
[10] - Quote
I use the rule of alcohol ...
If im sober enough to care when im online, i will adjust orders. If not ill let them ride until my give-a-damn level rises again.
My point being, pick what goes with your play style, and make it work. Adjust your methods until you find your groove.
SH |
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