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New Trader, Questions and Journal

First post
Author
Kraxon Katelo
Caldari Provisions
Caldari State
#1 - 2016-07-14 17:36:44 UTC
Hey all. I am one of the many out there who have tried multiple times to get into EvE and for whatever reason it hasn't panned out. I've always been into the market/economy side of online games and have decided this go around I'm going to give it the good old college try.

Joined Horde as well to learn other aspects of the game and be involved with a generally good corp.

Right now I have two characters. This one, my main who is skilling up to get involved in warfare and my alt who does the market trading.

Started with 15,000,000 isk that is in my wallet from the last time I played. Buying in Jita and Selling in Dodixie. I've been reading Marketsfor Isk from the first post to the last and am taking the same strategy. Buy Low, Sell High (Duh) Low Volume High Margin.

Zero desire at this point to get into station trading .01 isk game until I have a good understanding of how things work and what does what.

I would eventually like to get involved in following the different wars/action and using that information to make my trading decisions. I suspect I am very far off from that point though.

Anyway, after buying skillbooks for my trader alt:
Broker Relations - 100k
Retail - 100k
Accounting 5mil
Contracting 150k

And finding four different items that fit my criteria for buying/selling
Another 5mil 4 items types, 16 items.

I took off for Dodixie to meet the alt. I had a minor setback. I was unaware that my trader would be charged to put up sell orders and only had approx 200k isk. So am only able to put up 2 item types, 4 items for sale.

Those two items types I purchased for (1) 2@ 44,999.01isk/ea, and (2) @989,698/ea
So on sell contracts I have 2,069,392ISK invested for a hopeful return of 7,650,000ISK.

Item 1 sells at a volume of 1-2 per day, and item 2 sells at a volume of approx 40 per day.


I guess I only have one question on all of this. What was I charged when I put my sell contracts up? Was it the 3% broker fee and 2% sales tax fee? If not what? If so, why pay taxes before sales? Is there some reasoning for this in CCPs eyes? Purely curious.
Elizabeth Norn
Nornir Research
Nornir Empire
#2 - 2016-07-14 17:54:20 UTC  |  Edited by: Elizabeth Norn
Kraxon Katelo wrote:

I guess I only have one question on all of this. What was I charged when I put my sell contracts up? Was it the 3% broker fee and 2% sales tax fee? If not what? If so, why pay taxes before sales? Is there some reasoning for this in CCPs eyes? Purely curious.


When creating a contract, the final page lists all the fees you will pay. You pay a deposit and broker's fee when creating a contract, and Item Exchange sale contracts will be charged sales tax when accepted. Contract taxes are still at the old rates, for now.
Kraxon Katelo
Caldari Provisions
Caldari State
#3 - 2016-07-14 18:07:59 UTC
Elizabeth Norn wrote:
Kraxon Katelo wrote:

I guess I only have one question on all of this. What was I charged when I put my sell contracts up? Was it the 3% broker fee and 2% sales tax fee? If not what? If so, why pay taxes before sales? Is there some reasoning for this in CCPs eyes? Purely curious.


When creating a contract, the final page lists all the fees you will pay. You pay a deposit and broker's fee when creating a contract, and Item Exchange sale contracts will be charged sales tax when accepted. Contract taxes are still at the old rates, for now.



Is there somewhere that shows what this deposit amount is so that I can plan for it? Brought myself down to 500isk. Need to be better about leaving money to sell what I buy.
Elizabeth Norn
Nornir Research
Nornir Empire
#4 - 2016-07-14 18:36:20 UTC
When creating a contract, the final page lists all the fees you will pay.

Hmm, déjà vu Lol.
Kraxon Katelo
Caldari Provisions
Caldari State
#5 - 2016-07-14 20:58:38 UTC
Another question, when cruising through Eve-Central under the price of an item it lists QTY. Is that the number of said item in that station or is that the volume in trades that station does?
Princess Adhara
University of Caille
Gallente Federation
#6 - 2016-07-15 02:27:05 UTC
Kraxon Katelo wrote:
Another question, when cruising through Eve-Central under the price of an item it lists QTY. Is that the number of said item in that station or is that the volume in trades that station does?


That's the number of items for sale at that price.
Do Little
Bluenose Trading
#7 - 2016-07-15 08:30:15 UTC
You will pay brokerage and sales tax on both buy and sell orders. Currently 2% tax and 3% brokerage at NPC stations - modified by accounting and broker relations skills - can reduce tax to 1% and brokerage to 2.5%. Standings with corp/faction that owns station can further reduce brokerage to 2% - hard to get high standing for both Caldari and Gallente!

You can reduce brokerage (but not tax) for buy orders by "offshoring" place your buy orders at one of the Citadels in Perimeter or other system neighboring Jita with a range to cover the trade hub - owner of Citadel sets the brokerage fee (not modified by skills).

With your setup you may want to look into supplying fitted doctrine ships to your corp on contract. Contract has a 10K ISK broker fee regardless of the value of the ship.
Kraxon Katelo
Caldari Provisions
Caldari State
#8 - 2016-07-15 12:33:11 UTC
Do Little wrote:
You will pay brokerage and sales tax on both buy and sell orders. Currently 2% tax and 3% brokerage at NPC stations - modified by accounting and broker relations skills - can reduce tax to 1% and brokerage to 2.5%. Standings with corp/faction that owns station can further reduce brokerage to 2% - hard to get high standing for both Caldari and Gallente!

You can reduce brokerage (but not tax) for buy orders by "offshoring" place your buy orders at one of the Citadels in Perimeter or other system neighboring Jita with a range to cover the trade hub - owner of Citadel sets the brokerage fee (not modified by skills).

With your setup you may want to look into supplying fitted doctrine ships to your corp on contract. Contract has a 10K ISK broker fee regardless of the value of the ship.



Thanks alot for the tips. supplying ships to the corp definitely sounds like something I'd be into. Arms dealing. Feeding the war. Nicholas Cage's "Lord of War" was a pretty good movie.

Definitely looking into that.


Sales are a bit slow right now but I expected that and 2 of my 4 items have been undercut so thats quite a damper. But its baby steps and I'm not losing money.
I also recently found out about getting skillpoints given to me for time that I was subscribed but not playing. Getting ready to start that process so that should help with advancing this process a bit. I also have a plex from the new account I started and selling that should help greatly.


Thanks everyone for the help. I assume I'll be back later with more questions.
Kraxon Katelo
Caldari Provisions
Caldari State
#9 - 2016-07-15 21:29:50 UTC
So, right now I've got 9 items I'm actively selling but as of today there's someone who is onto 7 of them and has put 40qty sell orders up on all 7 for half the going price. These are items that only sell 1 or 2 a day so that really is a bummer.

Fortunately they aren't very costly to me so I'll just let them sit there and if the other 2 items I'm selling do sell(they are restocks so I have reason to believe I'm good) I'll be alright and can keep searching out new items.

43,000,000 in sell orders up. 1,000,000 isk in my wallet, I'm feeling pretty good that I will be above my 5 million initial investment tomorrow. I was at 10,000,000 in my wallet for a bit today until I jumped on some new items.

I'm looking into possibly putting my plex up for an over-collateralized loan. If I lose it all well, if it works it could be a good piece of collateral as I know plex is in a low spot right now.


We'll see. I'm really enjoying the low volume trading, I'm able to work and play the game at the same time.

Have had some really good chats with people while asking about certain scams that pop up in Jita (the quitting eve firesale one had me confused) everyone was really cool about showing me where to spot the scam (Original blue prints are infinite runs I didn't know where to locate that information from the market data page, while the seller of quitting eve sale is selling a one-five run copy)


Still waiting to hear back about my skillpoint reimbursement but am very excited to see where I end up and looking into what I'll spend them on.


I'm thinking about checking out other stations to sell in besides Dodixie. With 7 of my 9 items undercut by ALOT I can't afford to have that happen to many more times.
Alexi Stokov
State War Academy
Caldari State
#10 - 2016-07-15 22:09:46 UTC
Kraxon Katelo wrote:
So, right now I've got 9 items I'm actively selling but as of today there's someone who is onto 7 of them and has put 40qty sell orders up on all 7 for half the going price. These are items that only sell 1 or 2 a day so that really is a bummer.

Fortunately they aren't very costly to me so I'll just let them sit there and if the other 2 items I'm selling do sell(they are restocks so I have reason to believe I'm good) I'll be alright and can keep searching out new items.

43,000,000 in sell orders up. 1,000,000 isk in my wallet, I'm feeling pretty good that I will be above my 5 million initial investment tomorrow. I was at 10,000,000 in my wallet for a bit today until I jumped on some new items.

I'm looking into possibly putting my plex up for an over-collateralized loan. If I lose it all well, if it works it could be a good piece of collateral as I know plex is in a low spot right now.


We'll see. I'm really enjoying the low volume trading, I'm able to work and play the game at the same time.

Have had some really good chats with people while asking about certain scams that pop up in Jita (the quitting eve firesale one had me confused) everyone was really cool about showing me where to spot the scam (Original blue prints are infinite runs I didn't know where to locate that information from the market data page, while the seller of quitting eve sale is selling a one-five run copy)


Still waiting to hear back about my skillpoint reimbursement but am very excited to see where I end up and looking into what I'll spend them on.


I'm thinking about checking out other stations to sell in besides Dodixie. With 7 of my 9 items undercut by ALOT I can't afford to have that happen to many more times.



I would probably hold off using that PLEX as loan collateral until you have a better grasp on what works to sell. As you said, 7 of your 9 items have been cut down by a big amount so it seems you would have a good chance of putting the loan money into a bad item. Also, I would not be in items that sell merely 1-2 a day.
Kraxon Katelo
Caldari Provisions
Caldari State
#11 - 2016-07-15 22:27:54 UTC
Alexi Stokov wrote:
Kraxon Katelo wrote:
So, right now I've got 9 items I'm actively selling but as of today there's someone who is onto 7 of them and has put 40qty sell orders up on all 7 for half the going price. These are items that only sell 1 or 2 a day so that really is a bummer.

Fortunately they aren't very costly to me so I'll just let them sit there and if the other 2 items I'm selling do sell(they are restocks so I have reason to believe I'm good) I'll be alright and can keep searching out new items.

43,000,000 in sell orders up. 1,000,000 isk in my wallet, I'm feeling pretty good that I will be above my 5 million initial investment tomorrow. I was at 10,000,000 in my wallet for a bit today until I jumped on some new items.

I'm looking into possibly putting my plex up for an over-collateralized loan. If I lose it all well, if it works it could be a good piece of collateral as I know plex is in a low spot right now.


We'll see. I'm really enjoying the low volume trading, I'm able to work and play the game at the same time.

Have had some really good chats with people while asking about certain scams that pop up in Jita (the quitting eve firesale one had me confused) everyone was really cool about showing me where to spot the scam (Original blue prints are infinite runs I didn't know where to locate that information from the market data page, while the seller of quitting eve sale is selling a one-five run copy)


Still waiting to hear back about my skillpoint reimbursement but am very excited to see where I end up and looking into what I'll spend them on.


I'm thinking about checking out other stations to sell in besides Dodixie. With 7 of my 9 items undercut by ALOT I can't afford to have that happen to many more times.



I would probably hold off using that PLEX as loan collateral until you have a better grasp on what works to sell. As you said, 7 of your 9 items have been cut down by a big amount so it seems you would have a good chance of putting the loan money into a bad item. Also, I would not be in items that sell merely 1-2 a day.


Thanks for the feedback Alexi,
I chose items that are low volume so I wouldn't have as much competition. I don't have time to constantly update sell orders right now. That was my main reason really. I read the marketsforisk blog and thats how he started/still does I believe.
Not to say that I'm not open to other avenues of regional trading, I'm still learning and constantly reading. I just figure if its an item that moves alot of volume its probobly an item thats got alot of competition.

On the PLEX, I agree, I would probobly make some pretty poor moves getting a loan off it right now. My thought was doing the loan would give me room to make some poor moves and not be out for the count. As it stands, a couple more wrong moves and I may be doing missions/mining OR waiting until the under cutter sells all of his items (approx 20 days if volume stays the same) and hope he doesn't decide to do it again.

Again, thanks alot for your feedback. I hope you will keep an eye on the thread. I can use all the knowledge/feedback I can get.
William Legrand-Marx
Nemesis Ad Astra
#12 - 2016-07-16 11:23:27 UTC
Kraxon Katelo wrote:
Hey all. I am one of the many out there who have tried multiple times to get into EvE and for whatever reason it hasn't panned out. I've always been into the market/economy side of online games and have decided this go around I'm going to give it the good old college try.

Joined Horde as well to learn other aspects of the game and be involved with a generally good corp.

Right now I have two characters. This one, my main who is skilling up to get involved in warfare and my alt who does the market trading.

Started with 15,000,000 isk that is in my wallet from the last time I played. Buying in Jita and Selling in Dodixie. I've been reading Marketsfor Isk from the first post to the last and am taking the same strategy. Buy Low, Sell High (Duh) Low Volume High Margin.

Zero desire at this point to get into station trading .01 isk game until I have a good understanding of how things work and what does what.

I would eventually like to get involved in following the different wars/action and using that information to make my trading decisions. I suspect I am very far off from that point though.

Anyway, after buying skillbooks for my trader alt:
Broker Relations - 100k
Retail - 100k
Accounting 5mil
Contracting 150k

And finding four different items that fit my criteria for buying/selling
Another 5mil 4 items types, 16 items.

I took off for Dodixie to meet the alt. I had a minor setback. I was unaware that my trader would be charged to put up sell orders and only had approx 200k isk. So am only able to put up 2 item types, 4 items for sale.

Those two items types I purchased for (1) 2@ 44,999.01isk/ea, and (2) @989,698/ea
So on sell contracts I have 2,069,392ISK invested for a hopeful return of 7,650,000ISK.

Item 1 sells at a volume of 1-2 per day, and item 2 sells at a volume of approx 40 per day.


I guess I only have one question on all of this. What was I charged when I put my sell contracts up? Was it the 3% broker fee and 2% sales tax fee? If not what? If so, why pay taxes before sales? Is there some reasoning for this in CCPs eyes? Purely curious.



For intitially small amounts, trading with fees is no good, try trading channels and sell through contracts. THis requires more time ont he market however.

There is nothing worthy in this world even if others think it is worth something...

William Legrand-Marx
Nemesis Ad Astra
#13 - 2016-07-16 11:31:27 UTC
Kraxon Katelo wrote:
Alexi Stokov wrote:
Kraxon Katelo wrote:
So, right now I've got 9 items I'm actively selling but as of today there's someone who is onto 7 of them and has put 40qty sell orders up on all 7 for half the going price. These are items that only sell 1 or 2 a day so that really is a bummer.

Fortunately they aren't very costly to me so I'll just let them sit there and if the other 2 items I'm selling do sell(they are restocks so I have reason to believe I'm good) I'll be alright and can keep searching out new items.

43,000,000 in sell orders up. 1,000,000 isk in my wallet, I'm feeling pretty good that I will be above my 5 million initial investment tomorrow. I was at 10,000,000 in my wallet for a bit today until I jumped on some new items.

I'm looking into possibly putting my plex up for an over-collateralized loan. If I lose it all well, if it works it could be a good piece of collateral as I know plex is in a low spot right now.


We'll see. I'm really enjoying the low volume trading, I'm able to work and play the game at the same time.

Have had some really good chats with people while asking about certain scams that pop up in Jita (the quitting eve firesale one had me confused) everyone was really cool about showing me where to spot the scam (Original blue prints are infinite runs I didn't know where to locate that information from the market data page, while the seller of quitting eve sale is selling a one-five run copy)


Still waiting to hear back about my skillpoint reimbursement but am very excited to see where I end up and looking into what I'll spend them on.


I'm thinking about checking out other stations to sell in besides Dodixie. With 7 of my 9 items undercut by ALOT I can't afford to have that happen to many more times.



I would probably hold off using that PLEX as loan collateral until you have a better grasp on what works to sell. As you said, 7 of your 9 items have been cut down by a big amount so it seems you would have a good chance of putting the loan money into a bad item. Also, I would not be in items that sell merely 1-2 a day.


Thanks for the feedback Alexi,
I chose items that are low volume so I wouldn't have as much competition. I don't have time to constantly update sell orders right now. That was my main reason really. I read the marketsforisk blog and thats how he started/still does I believe.
Not to say that I'm not open to other avenues of regional trading, I'm still learning and constantly reading. I just figure if its an item that moves alot of volume its probobly an item thats got alot of competition.

On the PLEX, I agree, I would probobly make some pretty poor moves getting a loan off it right now. My thought was doing the loan would give me room to make some poor moves and not be out for the count. As it stands, a couple more wrong moves and I may be doing missions/mining OR waiting until the under cutter sells all of his items (approx 20 days if volume stays the same) and hope he doesn't decide to do it again.

Again, thanks alot for your feedback. I hope you will keep an eye on the thread. I can use all the knowledge/feedback I can get.


Wrong, wrong wrong. Ugh Low volume means a guy like me can come and wreck you up in few minutes. Initia traders should trade high volume low margin goods. Those markets are stable and big and it is hard for trade slides even for relatively big trader. Yes the high volum items are of course having loads of cmpetition but those are isk games which are irrelevant as you can skip them playing. If you want to have success you need initital capital of at least 15-25 Billion ISK to start of good. 1-2 billions are good for reconassaince. In some other post here I explained how you can trade, pretty simple and very informative.

The undercutter is doing the good job as he was waiting for price to go up. If you check price history I bet the price of the products rose and now he is just selling below the current price and above the purchase price, considering the taxanf fee costs. You have to be careful which goods to trade and check for the news on eve politics.

There is nothing worthy in this world even if others think it is worth something...

Careby
#14 - 2016-07-16 16:24:42 UTC
Do Little wrote:
You will pay brokerage and sales tax on both buy and sell orders. Currently 2% tax and 3% brokerage at NPC stations - modified by accounting and broker relations skills - can reduce tax to 1% and brokerage to 2.5%. Standings with corp/faction that owns station can further reduce brokerage to 2% - hard to get high standing for both Caldari and Gallente!

You can reduce brokerage (but not tax) for buy orders by "offshoring" place your buy orders at one of the Citadels in Perimeter or other system neighboring Jita with a range to cover the trade hub - owner of Citadel sets the brokerage fee (not modified by skills)...


I didn't see a correction yet, so I'll point out that there is no sales tax on buy orders.

Sales tax is paid by the seller when an item actually sells - it's not an up-front cost when a sell order is placed. Broker fees are charged up front on all non-immediate buy and sell orders. The minimum broker fee is 100 isk, and that's in a citadel with 0% broker fee (there currently are some). A buy order placed in a citadel with a range greater than station (solar system, region, or number of jumps) will cover that citadel and all NPC stations in the specified range, but not any other citadels.


Bumblefck
Kerensky Initiatives
#15 - 2016-07-16 20:36:47 UTC
William Legrand-Marx wrote:

Wrong, wrong wrong. Ugh Low volume means a guy like me can come and wreck you up in few minutes. Initia traders should trade high volume low margin goods. Those markets are stable and big and it is hard for trade slides even for relatively big trader. Yes the high volum items are of course having loads of cmpetition but those are isk games which are irrelevant as you can skip them playing. If you want to have success you need initital capital of at least 15-25 Billion ISK to start of good. 1-2 billions are good for reconassaince. In some other post here I explained how you can trade, pretty simple and very informative.

The undercutter is doing the good job as he was waiting for price to go up. If you check price history I bet the price of the products rose and now he is just selling below the current price and above the purchase price, considering the taxanf fee costs. You have to be careful which goods to trade and check for the news on eve politics.



Please stop peddling your thinly-veiled advertisements in this and every other thread in MD, you're polluting it with your trading 'guild' scam nonsense.

Perfection is a dish best served like wasabi .

Bumble's Space Log

The Fukuzawa
New Eden Trade Group
#16 - 2016-07-17 04:26:05 UTC  |  Edited by: The Fukuzawa
Bumblefck wrote:
William Legrand-Marx wrote:

Wrong, wrong wrong. Ugh Low volume means a guy like me can come and wreck you up in few minutes. Initia traders should trade high volume low margin goods. Those markets are stable and big and it is hard for trade slides even for relatively big trader. Yes the high volum items are of course having loads of cmpetition but those are isk games which are irrelevant as you can skip them playing. If you want to have success you need initital capital of at least 15-25 Billion ISK to start of good. 1-2 billions are good for reconassaince. In some other post here I explained how you can trade, pretty simple and very informative.

The undercutter is doing the good job as he was waiting for price to go up. If you check price history I bet the price of the products rose and now he is just selling below the current price and above the purchase price, considering the taxanf fee costs. You have to be careful which goods to trade and check for the news on eve politics.



Please stop peddling your thinly-veiled advertisements in this and every other thread in MD, you're polluting it with your trading 'guild' scam nonsense.



Hey Bumble-Bozo, its not a scam until someone is actually scammed, I know this is a difficult concept for you to grasp, but until you have proof he is a scammer, you shouldn't label him one. Being skeptical is reasonable though.

Krax, send me an eve mail, we should chit chat a bit Im always willing to help out a new player.

! ! ! New Eden Trade Group is paying monthly interest to investors, contact me if interested ! ! !

If you already assume we are scammers without looking at what we offer objectively, go ahead and F*** off.

Thank you, that is all.

Bumblefck
Kerensky Initiatives
#17 - 2016-07-17 10:28:38 UTC  |  Edited by: Bumblefck
The Fukuzawa wrote:

Hey Bumble-Bozo, its not a scam until someone is actually scammed, I know this is a difficult concept for you to grasp, but until you have proof he is a scammer, you shouldn't label him one. Being skeptical is reasonable though.

Krax, send me an eve mail, we should chit chat a bit Im always willing to help out a new player.



So - you would say that William sitting in Jita and issuing contracts like this does not have the hallmarks of a scam? You do realise that something could very well be a scam and people just haven't fallen for it, right? Roll

Pathetic - the scammer and his one little buddy.



OP - I apologise for disrupting your thread. Good luck, and watch out for these two o/

Perfection is a dish best served like wasabi .

Bumble's Space Log

ISD Fractal
ISD Community Communications Liaisons
ISD Alliance
#18 - 2016-07-20 13:43:42 UTC
I have removed several off topic remarks and left some borderline ones in place. Back to helping the OP please.

ISD Fractal

Lieutenant

Community Communication Liaisons (CCLs)

Interstellar Services Department