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This doesn't work everywhere, but when they raise their buy orders over mine by $0.01, I respond by raising my buy by $5.00 (as an example). After a few jumps in price like that many penny traders will just wait for your orders to go away.

But like I said, it doesn't work everywhere. Busy stations are busy and that's just the way it is.

(Heh. Buy by)

IF you want to do 0.01 ISK wars - I suggest learning to use your mouse-wheel

Avoid jita ...

0.1 ISK wars can be fun, especially when you win.

One of my fondest memories in my EVE-life is a 0.1 ISK war about a Charon sell order that I won big time.
I think a Charon was around 1.38 Bn at that time and the margin was quite big. I had one up for sale when another trader entered the scene and put his Charon up for 10M cheaper than mine. I did the natural thing and countered his offer by undercutting him by 0.01 ISK. He lowered his price by 1M and I undercut him by 0.01 ISK again. He went another million lower and again I placed my order 0.01 ISK cheaper than his.

Now lowering the price going in large steps but not large enough to make a strong impression is something that is almost always very stupid imho (there are exceptions). Also I noticed that the market updates from my competitor usually came within 30 to 60 seconds after I updated my own order. So I started to take a closer look .

I began to update my order almost exactly after the 5 min cooldown was over, always undercutting him by 0.01 ISK. He also updated his order, always going down by 1M, but he usually needed up to a minute after his cooldown was over. That way I got into the better position fast and was able to undercut his orders seconds after he posted them.

I believe that infuriated him somehow, because he started to lower the price by increasingly larger increments and also updated his order as fast as he could - which didn't help, because I remained focussed and we continued to fight with two sell orders, his and mine. The sell price dropped very fast, more than half the margin was lost already... then it happened:

I was spamming refresh commands because I expected his market update. Suddenly his sell order vanished and my wallet began to blink. Also my buy order for a Charon vanished. When I checked my wallet I realized, that the other guy had sold his Charon to me. The selling price was almost exactly what I had expected. However, it seemed the guy was under some kind of emotional stress when he submitted that specific order update... to his misfortune he had misplaced the decimal point and sold the Charon to me for 130M (or so) instead of 1.3Bn

I admit that I laughed so hard, I almost choked. That really made my day.

Aggressive pricing is your friend. When they 0.01 ISK you respond by cutting the margin by five or ten percent. You'll make less profit per item but you'll have a net gain in income because you'll waste way less time.

You could try playing the 0.01 isk game for a while, creating new orders to compete and get around the five minute update restriction. Do this back and forth for a while and then abruptly stop for 15-20 minutes. A lot of the time the other trader will move on to different items and you can adjust your order one last time without being noticed.

With this post, you have inspired a dozen more people to do the same.

Mind Blown.

This. There is no point in constantly updating by 0.1 in the hope you will be on top when a big buy order comes in.