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General Questions: Trading
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Renis Vaille
Center for Advanced Studies
Gallente Federation
#1 - 2013-08-15 14:21:52 UTC
So I have two general questions regarding trading. My first one is about station trading. This might be rudimentary for most so I apologize. I'm still trying to get a grasp on it. Does it basically go like this: Find a group of items with high volume and decent gap between lowest sell order and highest buy order (essentially your profit margin before tax and all). Say for instance we are talking about ice products. I have about 130mil in capital right now, so maybe put 100mil in buy orders in for a few of these products (make sure to be slightly higher than the highest buy order). Then wait for it to get filled. Then put my 100mil of products up for sell orders being slightly lower than the lowest sell order. Wait to get filled. Maybe update once or twice a day if I keep getting undercut. Boom there's my profit based on whatever difference was between my sell order and buy order minus taxes and fees of course? Just seems too easy once you find your product.

Second question: what should be my skill training plan, including level of skill, for station trading/ maybe a small bit of hauling and trading? I have trading trained to IV and am working on broker relations III and Accounting III right now. I'm simply trying to make more isk trading (maybe 5 - 10mil per day starting out?) instead of awfully boring mining (maybe 5-6 mil per hour AFK but dreadfully boring).

Thanks for the help!
Daniel Plain
Doomheim
#2 - 2013-08-15 14:34:47 UTC
the method you described is a good start, but it has a few weak spots. what happens if prices go up and your buy order doesn't get filled? what happens if the prices crash so that the sell orders are lower than the price you payed to buy? what if the prices are stable but the market is highly competitive so that your order is constantly being undercut?

as for skills: obviously the more you have the better. you also may want to train some social skills and run some mining or distribution missions to increase your standing, this will reduce your sales taxes.

I should buy an Ishtar.
arabella blood
Keyboard Jihad
#3 - 2013-08-15 14:40:45 UTC
At the most basic form you got it totally right.

As for trade skills the end result should be:
Profit skills:
1. Broker relations - 5
2. Accounting - 5
3. Margin trading - 4

Order amount:
1. Tycoon - 5

Anything else is bonus :)

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Renis Vaille
Center for Advanced Studies
Gallente Federation
#4 - 2013-08-15 15:22:59 UTC
Thanks guys :) is there a way to keep from being constantly undercut? I guess you just have to be on top of your orders as much as you can to avoid those pitfalls.
JustAFluke
Viziam
Amarr Empire
#5 - 2013-08-15 15:29:10 UTC
This post maybe of help to you:-

https://forums.eveonline.com/default.aspx?g=posts&t=184822&find=unread

Also when I started trading I initially started with Skillbooks - I flew in my little ibis two jumps bought a ton of skill books and sold them in Jita for around 10% profit :)

Once you have the skills start looking at other items such as ice moon goo modules ships etc.

My top tip for you would be get your taxes to 0.75% before trading you will only loose money - then using standings with the faction (caldari state) bring the broker relations down that way you can trade with paying less taxes (worth it in the long run)

Make sure you track your outgoing and income, this is so you are seeing the progress you wallet is taking.

There are some great tutorials on youtube as well

https://www.youtube.com/watch?v=uA2S8ovTxxU

https://www.youtube.com/watch?v=2-9nhCCScIw << Recommend this one mainly (See what he is trading what isk he is making this should boost your confidence in the trading - as yes it can get tedious)
Lucas Kell
Solitude Trading
S.N.O.T.
#6 - 2013-08-15 15:40:44 UTC
Yeah, primarily you want broker relations and accounting 5 to reduce tax and brokers fees, but you'll also need to work up your standing with the station owners to reduce that further. And don't forget to take that into account! If you make 5m in profit on the raw values, but pay 8m in fees, you didn't make profit, you took a loss.

The Indecisive Noob - EVE fan blog.

Wholesale Trading - The new bulk trading mailing list.
Umar Umarhabib
Doomheim
#7 - 2013-08-16 06:02:42 UTC
Renis Vaille wrote:
So I have two general questions regarding trading. My first one is about station trading. This might be rudimentary for most so I apologize. I'm still trying to get a grasp on it. Does it basically go like this: Find a group of items with high volume and decent gap between lowest sell order and highest buy order (essentially your profit margin before tax and all). Say for instance we are talking about ice products. I have about 130mil in capital right now, so maybe put 100mil in buy orders in for a few of these products (make sure to be slightly higher than the highest buy order). Then wait for it to get filled. Then put my 100mil of products up for sell orders being slightly lower than the lowest sell order. Wait to get filled. Maybe update once or twice a day if I keep getting undercut. Boom there's my profit based on whatever difference was between my sell order and buy order minus taxes and fees of course? Just seems too easy once you find your product.

Second question: what should be my skill training plan, including level of skill, for station trading/ maybe a small bit of hauling and trading? I have trading trained to IV and am working on broker relations III and Accounting III right now. I'm simply trying to make more isk trading (maybe 5 - 10mil per day starting out?) instead of awfully boring mining (maybe 5-6 mil per hour AFK but dreadfully boring).

Thanks for the help!


In JIta if you update your order once twice a day you'll never get anything Big smile

If you use buy orders, do multi-jump to regional buy orders

For Tech 2 modules - anything with daily volume of 50 or greater should be fairly easy to get.
You can also do that with minerals / isotopes - but make sure you set a minimum fill quantity.

If you do that it would be easiest to just sell the stuff where they are, don't worry about people not buying it, they will buy it because pvp'ers, faction warfare guys, mission runners - they wander from system to system.

But starting with a limited capital in trading, I think it would be easier to just buy things in Jita and sell it at a hub.

Pull up your Star Map, under statistics, filter "average pilots in space within last 30 minutes". Anything with a high number can be a hub. Buy in Jita and sell there.
Atilla Maia
Deep Core Mining Inc.
Caldari State
#8 - 2013-08-17 16:39:09 UTC  |  Edited by: Atilla Maia
Umar Umarhabib wrote:
Renis Vaille wrote:
So I have two general questions regarding trading. My first one is about station trading. This might be rudimentary for most so I apologize. I'm still trying to get a grasp on it. Does it basically go like this: Find a group of items with high volume and decent gap between lowest sell order and highest buy order (essentially your profit margin before tax and all). Say for instance we are talking about ice products. I have about 130mil in capital right now, so maybe put 100mil in buy orders in for a few of these products (make sure to be slightly higher than the highest buy order). Then wait for it to get filled. Then put my 100mil of products up for sell orders being slightly lower than the lowest sell order. Wait to get filled. Maybe update once or twice a day if I keep getting undercut. Boom there's my profit based on whatever difference was between my sell order and buy order minus taxes and fees of course? Just seems too easy once you find your product.

Second question: what should be my skill training plan, including level of skill, for station trading/ maybe a small bit of hauling and trading? I have trading trained to IV and am working on broker relations III and Accounting III right now. I'm simply trying to make more isk trading (maybe 5 - 10mil per day starting out?) instead of awfully boring mining (maybe 5-6 mil per hour AFK but dreadfully boring).

Thanks for the help!


In JIta if you update your order once twice a day you'll never get anything Big smile

If you use buy orders, do multi-jump to regional buy orders

For Tech 2 modules - anything with daily volume of 50 or greater should be fairly easy to get.
You can also do that with minerals / isotopes - but make sure you set a minimum fill quantity.

If you do that it would be easiest to just sell the stuff where they are, don't worry about people not buying it, they will buy it because pvp'ers, faction warfare guys, mission runners - they wander from system to system.

But starting with a limited capital in trading, I think it would be easier to just buy things in Jita and sell it at a hub.

Pull up your Star Map, under statistics, filter "average pilots in space within last 30 minutes". Anything with a high number can be a hub. Buy in Jita and sell there.



lost everything I typed before =P

anyway this is very nice to do buy from jita sell in other hubs... sell it on starter hubs, as well leave buy orders for ores. this is an income for new player....acctually very low buy orders.

in jita station trade is very good to raise capital. U need to fin a good item with a high volume or even low volume... depends on the order reached to that day... need to look for an item that hasn't reached the day average orders filled, so you can have a fast filled sell/buy order.

that's it, my previous post was more complex but this already helps alot =P
Rhivre
TarNec
Invisible Exchequer
#9 - 2013-08-17 16:56:32 UTC
List of stations by market activity

The link above is handy for if you are looking for a non-jita location

Fluffy Bunny Pic!

arabella blood
Keyboard Jihad
#10 - 2013-08-17 18:18:14 UTC
Umar Umarhabib wrote:


In JIta if you update your order once twice a day you'll never get anything Big smile




If that was true i would have been brain damaged now UghUgh

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