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Gallintai
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Posted - 2007.07.26 17:24:00 -
[1]
Hey everyone. I've been playing for a couple of days and I feel like I'm getting into the swing of things. Mining, doing the tutorial missions and whatnot.
My long-term goal, though, is to become a trader. I don't know how saturated the market is with wannabe traders, but that's ideally what I'd like to do. So I guess my questions is: where do I start?
I was told I should buy an Iteron to haul cargo, so obviously I'd need to train the skills I need for that and save up money.
The orders system is bewildering, but I suppose I could just start comparing prices at places and start hauling piddley amounts in addition to doing some mining or missions for cash to build up capital.
And maybe at the same time look for a corporation looking haulers?
I mean, these are just my ideas. Really I'm trying to figure out what I need to be doing right now, what I should planning for in the future, and what I need to know how to do and use.
Thanks!
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Asestorian
Minmatar
Sebiestor tribe
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Posted - 2007.07.26 17:43:00 -
[2]
Personally, I will never be a successful trader due to my inability to work with lots of numbers, as any successful trader would likely have to do. However, I did read this guide on trading, and found it to be informative about how trading in EVE really works.
Hopefully it can help you too 
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Gallintai
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Posted - 2007.07.26 18:13:00 -
[3]
That is very helpful and a great start! Thank you!
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PMolkenthin
Contraband Inc.
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Posted - 2007.07.26 18:16:00 -
[4]
I would say carry on mining while you train first industrials, then transports, and ultimately a freighter, during this time moniter trade channels in game, sell/buy forums, and study the market. As you learn the value of items and start to see profits, invest parts of what you earned from mining into short low risk stuff, and build your way up.
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Oriella Trikassi
Trikassi Enterprises
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Posted - 2007.07.26 21:08:00 -
[5]
Market Discussions Forum, Essential Threads sticky. Some of it has out of date details, but the basics are still sound. The basics are less discussed on that Forum now, but ask sensible questions and answers will appear.
No, you're not too late. The economy is expanding, plenty of room.
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Trikassi Enterprises, oiling the jumpgates of commerce since 2004 |
BluOrange
Gallente
Agony Unleashed
Agony Empire
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Posted - 2007.07.27 08:44:00 -
[6]
Newbie traders should avoid highly-populated space, those markets are extremely efficient and competitive. In some respects, there's less money to be made in areas with a lower population, but the lower competition tends to outweigh that, early in your career.
Recruitment FAQ |
Cygnus Zhada
Amarr
UK Corp
FATAL Alliance
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Posted - 2007.07.27 09:18:00 -
[7]
There's a few things you need to know on trading;
- traders live off the ignorance and lazyness of their customers
- you DON'T needed uber haulers, in fact you can make millions moving stuff in a little starter frigate
- understand the Donchian channel in the market window
- sometimes profit margin is more important, sometimes turnover rate is more important
- NEVER buy or sell outright, always use buy or sell orders.
- NEVER sell when you HAVE to, only sell when it's profitable (in other words, don't get in a situation where you HAVE to sell)
Yes, I use lasers, please stop laughing in the back. |
Baka Lakadaka
Gallente
Antares Fleet Yards
SMASH Alliance
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Posted - 2007.07.27 09:55:00 -
[8]
Edited by: Baka Lakadaka on 27/07/2007 09:55:37
You can be a trader without uber skills, or a freighter.
I have a trade alt that has no skills, other than the basic out-of-the-box trading character skills and flies around in an Imicus frigate.
She made 50% on 1,000,000 ISK starting capital in the first week, trading just 2 products. These products are bought at about 400 ISK and sold for just under double that. She never leaves the solar system and I spend about 30 minutes a day travelling around picking up purchases from the stations within the solar system (sometimes I miss a day). While I'm travelling I do my market research and set up my buy/sell orders for the day. My cargo hold has never been more than 1% full.
I'm sure as I develop as a trader, I'll need bigger and better ships and may even get out of the solar system, but for now I'm making good return for little effort. I don't get bored with trading because my main is off doing more interesting things. I'm into my second week of trading and might consider a third or even fourth product soon.
Cheers
Baka
______________________
Have a Skill in training every second of every day and never buy a ship you can't afford to replace at least once. |
PMolkenthin
Contraband Inc.
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Posted - 2007.07.27 17:21:00 -
[9]
 Originally by: Cygnus Zhada
There's a few things you need to know on trading;
- traders live off the ignorance and lazyness of their customers
- you DON'T needed uber haulers, in fact you can make millions moving stuff in a little starter frigate
- understand the Donchian channel in the market window
- sometimes profit margin is more important, sometimes turnover rate is more important
- NEVER buy or sell outright, always use buy or sell orders.
- NEVER sell when you HAVE to, only sell when it's profitable (in other words, don't get in a situation where you HAVE to sell)
Thats some pretty sound advice.
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Dez Erichs
Agony Unleashed
Agony Empire
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Posted - 2007.07.27 19:05:00 -
[10]
To add to all the good advice:
Spreadsheets are your friend. Download OpenOffice if you don't have Excel. Find out where to best distribute your capital. Always do your homework.
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PvP Training: www.agony-unleashed.com "Veni, Vidi, Caedi" |
Toria Nynys
Minmatar
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Posted - 2007.07.28 18:38:00 -
[11]
Edited by: Toria Nynys on 28/07/2007 18:42:31
Also check out eve-central.com -- they have a trade finder that works great for identifying patterns of cheap/expensive goods on a region by region level.
You won't be able to cash in on the trades that site finds for you, but you'll be able to figure out where to buy and sell certain goods very quickly.
Look at salvage. Oftentimes salvage pieces like melted capacitor consoles and alloyed tritanium bars sell for 50k less than buy orders in region. Supplying ammo to mission hubs works well too.
A hauler isn't necessary for profitable trading. In fact, just the opposite. If you haul > 50M ISK of goods in a tech 1 hauler you're a big fat target -- you can be suicided profitably. I'd rather haul higher margin goods in a battlecruiser or battleship myself.
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Sicil Fioet
Minmatar
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Posted - 2007.07.29 07:33:00 -
[12]
I started tradeing early on in my career in EVE to supplement my income for pvp and I must say that the above replies are all full of good advice. Eve-central is a good website to keep track of buy and sell orders. First you need to determine what items you're going to trade. To decide that you should keep in mind different peculiarities of regions - know things like what do local NPCs drop, which systems are frequented by mission runners, is this a popular region for mining - then you will have an idea of what items will sell well. Typically you gather this info by living yourself in different places or talking to other people. Another thing you will definitely need is large amount of sell/buy orders. You can train up your main character for it, but you can also make alts that have over 50 open orders upon creation, no additional training needed - just create a character picking options that would give you trade and retail skills.
Most trading boils down to setting up buy and sell orders. It is cool if you can do it in that same station but the turnover in most places isn't great. Populated trading hubs like Jita, Rens, Oursulaert have great turnovers on items but are typically full of resellers such that sometimes it takes less than 10 minutes for someone to outbid your buy or sell order for some particular item. So you're better off keeping away from these placese, because they require a lot of attention trading, or also buying items elsewhere and transporting them these so that they sell quickly.
To build up a capital I would suggest low sec ratting in frigates and cruisers and then 0.0 ratting which you can still do in cruisers but most people use battlecruisers or bs. Mission running and mining in my experience pays less but the risk is less also, so it is your choice here.
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