Proton Power
Amarr
Power Corrupts Tech
Axiom Empire
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Posted - 2007.05.31 01:11:00 -
[1]
 Originally by: Princess Trinity
Edited by: Princess Trinity on 31/05/2007 00:22:40
Ok, this is what I did and it failed MISERABLY
I noticed in the Forge there were some HACS and CS's in low supply but high demand.
I bought up EVERY single EAGLE and ASTARTE and put them back at older prices.
I was hoping peoples laziness but mainly lack of paying attention would lead them to buy out my supply and yield me a decent profit.
Worst came to worst I figured I would resell and break even.
Eagles at first I added about 50% and Astartes I added about 20%
Up until this morning its was going slow but ok, 2 Eagles sold and 2 Astarte's/
The problem is more people noticed than I thought would. Buying a Eagle for 97 mil compared to 65 mil.
Then competition started up, people started undercutting me and I did the same, this went on for a few hours until I realized I was going to take a loss.
I did notice one thing , The high sell orders had a slight affect on the Buy orders.
The buy orders went from 52 mil highest to 56 Mil highest.
My worst case break even scenario didn't work well because of 4 factors.
1. I paid higher than usual for a few of the Ships.
2. There was a lack of buy orders for me to cash in.
3. Impatience- I needed more liquid ISK and I couldnt wait for them to resell at normal Price.
4. HUMAN ERROR- I was so damn busy frantically modifying Sell orders, I made a very costly Mistake, I also had maintenance in my house putting in a new air conditioner, and I was sweating badly so I wasn't 100% focused.
I wanted to make the Eagles 69,000,000 Million isk each.
I pressed accept not paying full attention.
When my order didn't show up I knew right away I screwed up big time.
I looked at my wallet to comfirm the damage done, there is was 6 Eagles sold to 3 different people for 69 ISK each.
I lost about 1 Billion isk through this experiment through personal error and taking losses reselling.
However I did learn some things.
1. One single person cannot Manipulate a Trade Hubs market, even for a short time.
2. Modifying a order doesn't have a confirm Box, I will pay more attention next time.
3. Think my investments though a bit more next time.
First, Sorry to hear about your loss but would like to apply and give you some tips one what you learned from my experiences.
1. You can manipulate a hub, but you better have a LOT of time to sit in that hub and undercut over and over and over and over and I think you get the picture. Second you need a LOT of isk, expessially for something like HAC's. When playing with the market I also tried to play with teh buy orders. If you can raise the buy orders to past what you bought the original items at, you have an easy out. Again to do this you need to have a LOT of ISK so that you can stock up on a LOT of items. Basicly your trying to run the supply out so that with limited supply you can sell a lot easier, faster, and more isk. And then worse case fill the buy orders up and pull out. My experience thus far is you can make a lot of isk, but be prepared for a long haul.
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