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Market Discussions

 
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Want to Learn!

Author
Tony Skitrade
Doomheim
#1 - 2011-11-02 23:21:19 UTC
Well, I have tried several different aspects of the game. But never trade. I don't really want to "scam" people per say. But I would like to play the market. Buy low, Sell High sort of thing.

I just created this character and I would like to see what I can turn this 5k isk into just by trading.

What are some trading tips? What are good items to start with? What are some things to watch for?

All tips welcome.

Tony
egola
NSFW federation
#2 - 2011-11-02 23:32:38 UTC
ammo? if you start with 5k you're pretty limited.
Elise DarkStar
Garoun Investment Bank
Gallente Federation
#3 - 2011-11-03 00:25:22 UTC
If you're serious about trading, then biomass your "trading character", use a character with some standings, get more standings for the hub(s) you want to trade in, and start with as much money as you have instead of wasting your time with some stupid 5k starting capital gimmick.
Aimy Louis
The Scope
Gallente Federation
#4 - 2011-11-03 01:59:11 UTC
While starting with 5k and no standing may not be the fastest way to get money, you forget one thing: fun.
It's like using a ship you mined and built, maybe not very efficient but more rewarding.
Moreover, chances are that he doesn't even need money thanks to his main and is just looking for a challenge rather than money.
Emkayu Goffish
University of Caille
Gallente Federation
#5 - 2011-11-03 03:19:56 UTC
Check out eve trading, we've got an article and a video to show exactly how to start trading
JitaJane
Science and Trade Institute
Caldari State
#6 - 2011-11-03 06:03:11 UTC
Agree with most of what has been said here about standings and skills. I will make an addendum. Threee toons to an account means that taking the 2 zero skills off of your main and parking them in trade hubs is good for a quick peek at the market (how did you think I got the name 'JitaJane' anyway?). To explain why 5k starting capital is a bad idea let me give you a scenario. You see a buy/sell (direct profit) inequality between 2 trade hubs. It yields a 12% return for a 20 minute trip. If you invest 100K isk you make 12K profit. If you invest 500M isk you make 60 million in 20 minutes. These are random numbers for a random product and we are not considering standings/tax questions covered above. The thing is unless you find a sweetheart of a deal which is usually blind luck you will earn on margins. So you want it to be the margin of a large whole number. Ah and get good with spreadsheets. I'm a Google Docs kind of gal but a lot of folks use Open or Excel...

90% of of the time my posts are about something I actually find interesting and want to learn more about. Do not be alarmed.

malaire
#7 - 2011-11-03 10:18:47 UTC
There are items which can give huge profit with small ISK amounts.

For example "Angel Palladium Tag". Depending on your region and competition you might be able to buy one at 10k ISK and sell for over 500k ISK in right system.

That tag is needed to unlock "bonus room" in level 3 mission "Angel Extragavanza". When missioner realizes that he needs the item, he might easily give 500k for it if he can find it nearby. Also players who dont care about bonus room can sell it cheaply away.

Also, modules which are found in missions as loot can also give nice profit with small ISK amount. Many missioners just sell everything they get from missions for any price.

I started trading by going through market and finding modules where there was big difference between best buy order price and best sell order price (check market details for that) and which were sold regularly at those prices (check market history).

New to EVE? Don't forget to read: The Manual * The Wiki * The Career Options * and everything else

Nerath Naaris
Pink Winged Unicorns for Peace Love and Anarchy
#8 - 2011-11-03 10:46:18 UTC
If you are low on ISK, then the margin trade skill might be for you (yes, it´s not only for scamming). Of course, that skillbook itself is not exactly cheap....

Other than that, I found the more you engage in those 0.01 ISK wars to constantly stay on top of the queue, the quicker the cash comes rolling in, though I guess that is more important in trade hubs than in some backwater system where there is little or no competition.

Je suis Paris // Köln // Brüssel // Orlando // Nice // Würzburg, München, Ansbach // Saint-Étienne-du-Rouvray

Je suis Berlin // Fort Lauderdale // London // St. Petersburg // Stockholm

Je suis [?]

Lyrka Bloodberry
Spybeaver
#9 - 2011-11-03 11:24:50 UTC  |  Edited by: Lyrka Bloodberry
Although I like the idea of starting at 0 and build up everything just through trading, I suggest you mine or do missions for some time to get enough money that trading is worth it. I dont really think trading with 5k ISK can be such fun. But...
As you like...
Then just get started. Search for items you cann afford and which are needed often. Set buy orders and sell the bought items. It's as simple as that. Everything else you learn from experience.

Spybeaver

Radelix Cisko
JUMP DRIVE ACTIVE
#10 - 2011-11-03 21:22:38 UTC
Watch, read, listen, learn. Then the market will release it's iskie goodness.

Seriously though I started out with not much more then what you have. I also sat in a frigate with a passive scanner and cargo scanner to see what was moving in and out f Jita 4-4. Next just keep an eye on what was being talked about here and in the other forums. The other things you are going to have to make your own mistakes and learn from them.

Despite my posting prowess I really am terrible at this game

SabotNoob
Doomheim
#11 - 2011-11-03 22:05:12 UTC
I wouldn't throw your entire fortune at trading; you can get wiped out if you make a big enough mistake. Trust me, I see typos in market orders that cost them millions. I experimented with half a billion and had several hundred million set aside in case I lost on my trade ventures.

5,000 ISK is not enough though. You would need several million to make a good start.
OC 2av2
Next Level of Leela
#12 - 2011-11-05 01:18:08 UTC
You have only 5000 ISK? Shocked

Are you joking? ShockedShocked

If you are not joking, then how possibly did you get there? ShockedShockedShocked

Only completed tutorial missions give about 12 millions of ISK into the wallet, lol...

LolLolLol


flakeys
Doomheim
#13 - 2011-11-05 09:26:19 UTC  |  Edited by: flakeys
SabotNoob wrote:
I wouldn't throw your entire fortune at trading; you can get wiped out if you make a big enough mistake. Trust me, I see typos in market orders that cost them millions..



No kidding , last one a few weeks back costed me 1.58 B in tax Blink


... no worries i did some sucky sucky , me love GM long time Shocked

We are all born ignorant, but one must work hard to remain stupid.

Companion Qube
Pator Tech School
Minmatar Republic
#14 - 2011-11-06 09:14:19 UTC
flakeys wrote:
SabotNoob wrote:
I wouldn't throw your entire fortune at trading; you can get wiped out if you make a big enough mistake. Trust me, I see typos in market orders that cost them millions..



No kidding , last one a few weeks back costed me 1.58 B in tax Blink


... no worries i did some sucky sucky , me love GM long time Shocked

We need to start some kind of "sucky sucky I petition my brokers fees ****-up longtime" alliance.
Kandreath
De Re Metallica
#15 - 2011-11-06 20:52:35 UTC
I was like you ! I stated with a 10M loan from my main alt. 5K? Would be a good experiment.

Take a look here for some info. I think it sums up most of the stuff out there.
http://wiki.eveonline.com/en/wiki/Market_resources
OllieNorth
Recidivists Incorporated
#16 - 2011-11-06 21:09:54 UTC
This is a cool concept, I like the idea of starting from a dead stop. Keep us updated!
Nor Aken
Deep Core Mining Inc.
Caldari State
#17 - 2011-11-06 21:36:22 UTC
Nice challenge indeed.
Has been done before though: Link

If you do it, it can be a nice thread on how a beginner would tackle it
Kara Books
Deal with IT.
#18 - 2011-11-09 11:26:23 UTC
Post 1000 ammo at a time, sell off all 5000 units of ammo.

then post 1000 ammo buy orders for assorted ammo of say 5-8 types.

then sell off that ammo once the orders are filled, at that point you should have enough ISK to buy 10K-25K of the ammo you started with.

Now move into 10-20 different items, with small quantity orders, remember, Diversify to as many different items as possible for maximum exposure ( more different items means more of it gets filled)

in 1 month you should have about, 5-10M to play with, Keep doing it, small orders for as many different items as possible, as your wallet goes up, so should the value of the items you are trading go up.


I highly advise you start at the 50M mark if you don't know what you are doing, but if you kinda know what to do then go head and plop 600M and take it slow till you see progress, be patient while you learn!

I started off doing something like that, and now have maybe 9 billion ISK liquid and maybe 15B isk worth. (notice the age of my character, not even 5 months old)
Dasola
New Edens Freeports
#19 - 2011-11-09 14:52:16 UTC
as someone that has done 5k trade start myself (on alt for just the fun of it), i would recomend doing anything else to get more capital first, you will grow moneywise faster that way.

Its bossible to start with only 5k, but your initial growth is so small you will feel like hitting stone wall.

But if you deside to do this with 5k start, good luck, succeed and live long ;)

We are Minmatar, Our ship are made of scraps, but look what our scraps can do...