Market Discussions

Guys n Girls, may i please ask a question? I'm not sure if this is going to be either a really nooby question or just a plan dumb one, but here goes?

Is there a good way/application that could help me in remembering what price i paid for different amounts of stock in the past?

i.e - say I bought X amount of Item A on Monday for 1 isk, then Y amount of Item A on Tues for 5 isk, the Z amount of Item A a week later for 7 isk, then i wanted to sell it in a month later, but the price then was 6 isk ... how would i remember how many units to sell out of my whole stock I have?

How would i find the right quantity to sell of the item so that i didn't take a loss by dipping into the stock of the 7 isk batch aka i only want to sell quantity X+Y ?!

Good luck answering, i just re-read it and severely hope there is someone out there that can decode the question?!

Oh, and pleeeease try not to say spreadsheet or pen and paper... or notepad... or sticky notes!

TVM

Your wallet transaction log will tell you how many you bought, how much you paid and when. You can filter by product (Item type) and transaction type (buy/sell). It keeps a month worth of data.

Im sorry buddy... i dont know if its me being thick... but i just dont see them?!!

You ask "how would i remember how many units to sell?"

You will not want to hear this, but the right time to sell a stock is when the price on it is highest, combined with the turnover rate you like to keep on your money. Both of these are fluid parameters that cannot be documented precisely. Meanwhile, the price you originally paid for your stock is irrelevant.

For example, let's say that your stock has lost 10% of its value and you expect it to lose 30% more over the next month, then NOW is when you sell.
Except, if you expect same stock to increase 100% over the next 6 months, and you live by a more laid back strategy, then you wait.

In none of the cases should you consider whatever price you originally paid for the stock. You should not target a profit per unit stock, but profit per time unit.

Let's say I gave you 100 space ships for FREE. How would you know when to sell them?

To amplify Cista2's point: you should keep your working capital working. Inventory is dead money and the price you paid is a sunk cost - not relevant to future decisions.

If you buy and sell quickly for a small profit, you get your capital back (plus the small profit) - allowing you to buy a bit more and sell that at a small profit. As long as each transaction makes some profit, the power of compounding is working for you.

The active strategy does require more effort on your part.

I use the in-game notepad.