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Alex Redwidth
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Posted - 2008.05.22 19:42:00 -
[31]
One thing caught my eye in the OP, about being the highest buy and the lowest seller.
If you're in a good trade hub and trading in volume, you don't need to be the highest and the lowest.
This is especially the case when Jita gets caught in the inevitable 0.01 isk war between sellers. Hold your nerve at a 'fair' price and you'll usually sell fairly rapidly due to the massive turnover, while maximising your profit on that item.
Same with buy orders, if someone is buying for more than you want, extend to region or 3-5 jumps and cover systems other buy orders aren't.
1 Million ISK earned while sitting in station is the same as 1 Million earned while autopiloting and hauling goods from adjacent systems to your hub.
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Shakuul
Extreme Addiction
Atrum Tempestas Foedus
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Posted - 2008.05.22 22:29:00 -
[32]
 Originally by: Kazzac Elentria
Originally by: Sphynx Stormlord
It sounds to me that the main problem was only a fraction of your money was working for you at any one time.
If you dont diversify enough, and your buy orders take weeks or months to fill, then you could have used smaller buy orders, and used the other isk for buy orders on something else.
This
is a silly idea.
Since you're not working with much (100mil) you want to get as fast of a turnover is possible. Just look for high volume items that trade many times/day. This works especially well if you can babysit orders.
Once you get more money (500mil-1bil) you want to 'diversify' more...or even move completely away from those high maintenance items whose orders you have to babysit all the time. Once you have like 2-10+bil suddently 5mil/day or whatever doesn't look like so much, so you tend to get lazy...
Originally by: Arkham Lerouge
And then, to be a very good trader, with a LOT of cash, I believe you have to be more clever than the others and take on other activities :
1/ market manipulation
2/ trends spotting
3/ hauling to low/null sec
4/ many other activities I don't even know about (yet ;)
Trend spotting you can do regardless of your ISK. If you think the price of trit is going to double tomorrow, put 100% of your ISK in trit. Then if it does...you've made a nice profit. If not, you lose 1-2% in fees and the spread.
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Demtalin le'Mercennaire
The Arrow Project
Morsus Mihi
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Posted - 2008.05.23 13:08:00 -
[33]
Originally by: Demtalin le'Mercennaire
Edited by: Demtalin le''Mercennaire on 23/05/2008 13:07:35
I once went to a trade hub, and threw 50mil at a trade alt. I doubled that to around 100mil in 10 days (mix of buy+sell orders and items in my hanger.
I never really tried it much after that because I found it fairly boring.
Not sure if this is good or not, just my experiance.
EDIT: Added in "In 10 days" to the above
Just realised that I made a mistake in the above, I forgot to add that the time for me to do this was over 10 days
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Billy Jean is not my lover |
Kazzac Elentria
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Posted - 2008.05.23 14:48:00 -
[34]
Originally by: Shakuul
is a silly idea.
Since you're not working with much (100mil) you want to get as fast of a turnover is possible. Just look for high volume items that trade many times/day. This works especially well if you can babysit orders.
Once you get more money (500mil-1bil) you want to 'diversify' more...or even move completely away from those high maintenance items whose orders you have to babysit all the time. Once you have like 2-10+bil suddently 5mil/day or whatever doesn't look like so much, so you tend to get lazy...
The principals are the same whether you are trading with 100mil or 100bil |
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