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Any tips for market rookie?
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Scorpii Borealis
Tradors'R'us
IChooseYou Alliance
#1 - 2012-10-20 21:01:19 UTC
Hi! I tried mining and it was really boring, sold my mining character and started combat one. Now I have done some missions, but they are just like mining. Boring.

So I was thinking about that playing in market might be more interesting.

Any tips? Not asking good investment opportunities. More like good starting strategies. What skills?

I have about 500 million to start with.
Daniel Plain
Doomheim
#2 - 2012-10-20 21:23:34 UTC
missions are a luna park compared to station trading.

I should buy an Ishtar.
Nerath Naaris
Pink Winged Unicorns for Peace Love and Anarchy
#3 - 2012-10-20 21:49:20 UTC
Buy low, sell high.

Don´t put all your eggs in one basket.

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Grendell
Technologies Unlimited
#4 - 2012-10-21 01:05:58 UTC
Hey Scorpii,

If you want to try trading, it is very lucrative but can become quite tedious over time. Buy low, sell high is the basic principle, but there's obviously a lot more to it than that. As a started aim for margins that are above 5-10% (difference between buy price and sell price), as with no real trading skills you will be losing a lot on taxes and broker fees. A bare minimum you want to aim for when station trading is broker relations 3, Accounting 3, margin trading 3, and the ability to handle between 40-50 orders. That I 'd say is the bare minimum to learn the ropes of trading.

Eventually you should max out your skills that reduce taxes and broker fees and expand on how many orders you can handle. When picking items to trade in make sure the spread between buy and sell is good enough even with your skills, and that the potential profit of that item are worth your time. As an example if you trade in an item that has 50% profit margin that adds up to say 50k and it sells 10 units a day, your max potential on that products is only 500k a day. So it's probably not worth your time considering you've got 500m to play with.

That's the very basics, don't be afraid to make mistakes and lose a little money while you learn. So watch out for the margin trading scam. You can search that on the forums and get more info about it, so you can avoid it.

Have fun.Smile

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