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How To Tell If You're a Good Trader

Author
Anslo
Scope Works
#1 - 2012-11-27 14:20:18 UTC
How do you define a successful trader? How do you tell if one is or is not skilled at trading and market manipulation?

Is it the amount of capital he or she holds?
Is it how fast he turns trades around?
Is it something else? For example, a trade is successful if they can move from 1billion isk to 2 billion isk in 1 month?

Discuss!

[center]-_For the Proveldtariat_/-[/center]

Minister Man
Brutor Tribe
Minmatar Republic
#2 - 2012-11-27 14:26:42 UTC
If you end up with more isk after the trade than you had before the trade you are a good trader.
Ronix Aideron
Zymurgy Corp.
#3 - 2012-11-27 19:16:35 UTC
You can afford the ships and modules that you can fly for PVP.

Start the day off slow and taper off from there.

http://eveboard.com/pilot/Ronix_Aideron

Cipio Hakoke
Tactical Manufacturing Group
#4 - 2012-11-27 20:23:27 UTC
Anslo wrote:
How do you define a successful trader? How do you tell if one is or is not skilled at trading and market manipulation?

Is it the amount of capital he or she holds?
Is it how fast he turns trades around?
Is it something else? For example, a trade is successful if they can move from 1billion isk to 2 billion isk in 1 month?

Discuss!


well a "good trader" is a relative term, like a "good football player", it depends on what league you are in. If you are wanting to be the best of the best, you will probably never be a "good trader". If you are a few weeks into trading and you turn a tidy profit, you may consider yourself a good trader, but to others if you are not doubling your money every few weeks, then you are doing it wrong. So it is in the eye of the beholder and since it's a sandbox game, really a good trader is a trader that YOU feel is good at trading. I advise to set yourself goals.. Like earn x profits in y amount of time, or get enough money for z item/ship.

As long as you are trading for a profit, most would consider you are "doing it right". Most players judge success by profit per week/month/year, and as such try to maximize profits, which involves a quick turnaround, a good profit, and fun (the most important and often overlooked aspect).
Federally
Ministry of War
Amarr Empire
#5 - 2012-11-27 21:08:38 UTC
I'm a good trader because I enjoy it and I have almost exactly the same amount of ISK I had a month ago, I've spent a few billion on PvP/faction BS/etc in the same month so being flat = winning.
Jori McKie
Hedion University
Amarr Empire
#6 - 2012-11-28 00:45:04 UTC  |  Edited by: Jori McKie
Anslo wrote:
How do you define a successful trader? How do you tell if one is or is not skilled at trading and market manipulation?

Is it the amount of capital he or she holds?
Is it how fast he turns trades around?
Is it something else? For example, a trade is successful if they can move from 1billion isk to 2 billion isk in 1 month?

Discuss!


I don't like your stand on trying to enforce your playing style onto others what you excessively are trying to do in GD. Please stay in GD but stop infesting MD as you are clearly trying to troll here because your questions show you have no clue about traders.
Traders are most times hardcore PvP gamer driving and killing off the competition in the sense of denying them ISK. Traders need the harsh EVE environment not the hello kitty world you personally want so i will give you a hint, traders are more vicious, more focused in getting what they want, extracting ISK from other players, than 99% of all non traders in EVE.

What a good trader defines is extracting ISK from other players without the official notice aka killmail that you were ripped of your ISK.

"It's easy to speak for the silent majority. They rarely object to what you put into their mouths." - Abrazzar

Kara Books
Deal with IT.
#7 - 2012-11-28 03:04:17 UTC
make profit in an undeceiving manor.
Quinzel Nikulainen
Kokako Acquisitions
#8 - 2012-11-28 13:49:19 UTC
Kara Books wrote:
make profit in an undeceiving manor.


Seems like an arbitrary distinction. Though, of course, most answers to this question are going to be.

Still, don't understand why you'd use this in your personal success mantra. We part people from their ISK - it's what we do, by nature. So maybe you convince yourself you're an honorable Bushido internet space trader, you're still a thief with a sweet smile. Once you're at that point, it's not so much of a stretch to use a little obfuscation to fatten the wallet.

Ex-Kaalakiota citizen. Ex-Hyasyoda citizen. CEO of KŌKAK, a Nugoeihuvi affiliate corporation.

Anslo
Scope Works
#9 - 2012-11-28 13:51:13 UTC
Jori McKie wrote:
I don't like your stand on trying to enforce your playing style onto others what you excessively are trying to do in GD. Please stay in GD but stop infesting MD as you are clearly trying to troll here because your questions show you have no clue about traders.
Traders are most times hardcore PvP gamer driving and killing off the competition in the sense of denying them ISK. Traders need the harsh EVE environment not the hello kitty world you personally want so i will give you a hint, traders are more vicious, more focused in getting what they want, extracting ISK from other players, than 99% of all non traders in EVE.


You seem...upset?

[center]-_For the Proveldtariat_/-[/center]

Fozzy Dorsai
Friendly but Irritating
#10 - 2012-11-28 14:09:07 UTC
To answer the OP:
I echo many before me. 1) this is a game...do you find it fun? 2) do you make isk or lose it? 3) are you able to buy what you want, within reason? (Usually these are the ships you want to fly and the Plex you need to live.) If you can do all that, IMUO, you are a good trader.

But since we've veered into whether or not trading is vicious or kind PVP, first realize that it provides a service. Many people don't want to spend the time and effort putting up buy orders and fighting the isk war to get what they want at a lower price. So traders trade their time for the buyers Isk. We battle in the buy area to provide good in the sell area. The spread is payment for our efforts.
Others don't have the time (or in the case of items in low/null, the ability) to go get an item trading at a cheaper price 18 jumps away. Traders spend their time hauling the goods to where people want to buy them. For this service we get compensated with more profit, exchanging our time for their isk.
This carries through within the trading ranks themselves. Those that can spend more time at it (and learning it) will do better. Those that want to do it casually can, and will make a profit, just at a slower pace. Again, it is a trading of time for Isk (profit).
I spend way too much time at this :)
Jori McKie
Hedion University
Amarr Empire
#11 - 2012-11-28 15:52:52 UTC
Anslo wrote:
Jori McKie wrote:
XXX


You seem...upset?


Quite the contrary, i just don't like your ingame agenda and what makes it worse your obvious attempt at trolling.


@Fozzy Dorsai
You forgot the market manipulation, it is the part with the most fun and risk/reward although it is a lot of effort if you want a sucessful and rewarding market manipulation.

"It's easy to speak for the silent majority. They rarely object to what you put into their mouths." - Abrazzar

Anslo
Scope Works
#12 - 2012-11-28 15:55:42 UTC
Jori McKie wrote:
Quite the contrary, i just don't like your ingame agenda and what makes it worse your obvious attempt at trolling.


I'm sorry but, how am I trolling. I like trading, I want to get more into it, and I want to see what others deem as successful or not. For instance, I started with around 1b set aside for market and investing etc. I am now at 2b liquid with around 300m in orders still out.

From what I can gather, that is a fair success according to some here. So I fail to see how I'm trolling.

[center]-_For the Proveldtariat_/-[/center]

Jori McKie
Hedion University
Amarr Empire
#13 - 2012-11-28 16:12:39 UTC
The questions you ask implies it but it could be my english comprehension isn't good enough and maybe it is only bragging what you are doing.

"It's easy to speak for the silent majority. They rarely object to what you put into their mouths." - Abrazzar

Quinzel Nikulainen
Kokako Acquisitions
#14 - 2012-11-28 16:24:50 UTC
Anslol used to be full pirate.

Judging from his recent in-game conduct and his sudden egregious appetite for tearing down and spitting on all aspects of the game which from the thin white line, I'm either guessing he has a severe case of cognitive dissonance or is trying to forge some kind of new, 'straight-laced carebear' persona in an attempt to harbor trust in the prologue to a long-term scam campaign.

Ex-Kaalakiota citizen. Ex-Hyasyoda citizen. CEO of KŌKAK, a Nugoeihuvi affiliate corporation.

Anslo
Scope Works
#15 - 2012-11-28 17:16:23 UTC
Quinzel Nikulainen wrote:
Anslol used to be full pirate.

Judging from his recent in-game conduct and his sudden egregious appetite for tearing down and spitting on all aspects of the game which from the thin white line, I'm either guessing he has a severe case of cognitive dissonance or is trying to forge some kind of new, 'straight-laced carebear' persona in an attempt to harbor trust in the prologue to a long-term scam campaign.


I'm actually just bored, and siding with bitter vets is too easy. That and I really don't like people telling others "you're a second class citizen for playing X way." That's just stupid.

As for trust, I don't care if they trust me or not. I buy low, I sell high, I put it on the market. They buy it? Good for them. They don't? Oh well. I don't see how trust is an issue. Also, regarding your cognitive dissonance jab there, like I said above, I'm bored with piracy. But please keep trying to paint me as crazy in RL.


Jori McKie wrote:
The questions you ask implies it but it could be my english comprehension isn't good enough and maybe it is only bragging what you are doing.


I'm not bragging. 1b is nothing compared to most people on MD. They'd laugh at 5b as chump change. I'm small time here, so I'm not bragging, I'm trying to obtain success metrics.

[center]-_For the Proveldtariat_/-[/center]

Lolar55
Banana Toaster
#16 - 2012-11-28 17:30:42 UTC
You're a good trader if you can catch pre-patch oportunities and exucute small scale(6-7b) market manipulations easy.
Anslo
Scope Works
#17 - 2012-11-28 17:35:13 UTC
Lolar55 wrote:
You're a good trader if you can catch pre-patch oportunities and exucute small scale(6-7b) market manipulations easy.


This is something I never grasped (or maybe I'm thinking of it too deeply).

When you save manipulations, you mean using 6b-7b to buy out everything in a certain niche and corner the market? Or something else?

[center]-_For the Proveldtariat_/-[/center]

Vaerah Vahrokha
Vahrokh Consulting
#18 - 2012-11-28 22:01:06 UTC
Jori McKie wrote:

What a good trader defines is extracting ISK from other players without the official notice aka killmail that you were ripped of your ISK.


We traders do get killmails, we do... Twisted
CowNoseTheCat
I Love Kitties
#19 - 2012-11-29 04:49:39 UTC
My personal goal is to reach a billion ISK profit a day. OF course, I'll be a successfully trader long before that (and am now) but that is my big goal in trading.
clamslayer
Doomheim
#20 - 2012-11-29 07:13:38 UTC  |  Edited by: clamslayer
It took me a while to learn the market, but now i average about 500 million isk an hour if i spend an entire hour following my tedious trade strategy. sometimes i pull in far less, other times i pull in a billion isk or more off an hour of work, it depends on the randomness of player item sales and my competition.

Being a good trader boils down to the ratio of isk earned and the amount of time it took to earn the isk.

Judging a players success at trading based on gross worth, trade turn arounds, patch speculation, PVP funding, or a players ability to turn 1 billion isk into 2 billion isk in 1 month is arbitrary, unless you look at the amount of game time it took to earn the isk in question.

CowNoseTheCat wrote:
My personal goal is to reach a billion ISK profit a day. OF course, I'll be a successfully trader long before that (and am now) but that is my big goal in trading.


although i share the similar goal as CowNoseTheCat, 1 billion an hour on the regular versus 1 billion a day, i am fairly happy with what i earn now.

these numbers are from my ass, but if you look at other eve careers, 500 million an hour is far superior.

mining = 15 million an hour? **** that
ratting = 40 million an hour? **** that too
whatever else = 100 million and hour? **** that also

to answer your question OP, you are a successful trader if you make isk, but you are a "good trader" if you earn more isk a hour trading, than you could be earning doing something else. Until then you are just a trader.

I feel that at this point im just a trader.

The fewer traders out there the more isk ill make per hour of work, so i hope you fail OP.
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