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Trying to get into trading...

Author
Dyaven
#1 - 2012-01-18 21:36:34 UTC  |  Edited by: Dyaven
I sent an alt 100m in Amarr and started trying to work my way up by placing buy orders and then selling at normal market - pretty simple and straightforward. The time invested could be kept very low by only checking the alt a few times or even once a day, but then the buy orders would never get filled due to the competition updating prices more frequently than you.

In the few days I've been trying this it seems like it's very low isk/hour potential... I knew ahead of time that with 100m the return wouldn't be astounding, but it seems to me like even if I put 1b worth of buy orders up there isn't anything that would make them get filled faster. So far I've made about 10m but all of the profit is caught in sell orders that aren't getting filled. If I had invested the time I've spent on this endeavor so far into ratting I'd have made at least 5x that.

I'm aware that trading is a profession that's typically kept under wraps by those in the know to keep competition out, but I figured it'd be worth asking for any tips/pointers.
Beckie DeLey
Garoun Investment Bank
Gallente Federation
#2 - 2012-01-18 21:57:11 UTC
Here's a link to one of the better recent threads on this topic:

https://forums.eveonline.com/default.aspx?g=posts&t=58471&find=unread

My siren's name is Brick and she is the prettiest.

Ruvin
Amarr Empire
#3 - 2012-01-18 22:15:34 UTC
i followed that thread nice one indeed . but i still have some problems like the OP .... had some orders and very little of those were filled :| and i think im missing smthing :|

Opportunities multiply as they are seized.

Cardval Simalia
Doomheim
#4 - 2012-01-18 22:16:22 UTC
Market trading bulk items I'm afraid is dominated by bots, You simply will not be able to do it successfully with out a market bot. A bot will 1 isk items much faster than a player can 23/7. You can find niches in the market and try exploit scripters but they have min sell and max buy limits which are adjustable making it very difficult.

One day CCP will remove bots and make eve a great game.
Ruvin
Amarr Empire
#5 - 2012-01-18 22:23:19 UTC
but there are still traders which somehow play this game :|

Opportunities multiply as they are seized.

Beckie DeLey
Garoun Investment Bank
Gallente Federation
#6 - 2012-01-18 23:03:08 UTC  |  Edited by: Beckie DeLey
Okay, i'll add more than a link to the thread:

While you still have few ISKies, you need to be able to flip your stock. I wouldn't trade in a station at that point. Especially without Margin Trading at at least III.

Cliffnotes on how to get into trading:
* Find a mission hub, find a trade hub. Both should be in the same region for easy use of the market browser.
* Fly a few missions in mission hub to see what kind of loot drops there. This loot will be cheap to buy in the mission hub. Buy that after checking if it sells in the trade hub.
* Fly the crap you bought to the trade hub. Sell it there. Use sell orders, heavily undercutting the competition. You need your money so you can reinvest it, you don't want to play 0.01ISK-games. Your target you want to sell to are actually the established traders who buy your bulk to sustain their inflated prices ;) Yeah, they make some profit from you, but that's not important. Important is you having more ISK now than before.
* Buy ammo, guns and similar standard modules that are in demand in the mission hub int he trade hub. This might take a little research if you want to go for guns and modules. Ammo is easy mode.
* Fly that stuff to the mission hub. Put up as sell orders again. Dependin on how much competition you have here, you might not need to undercut as heavily as you did in the trade hub.

While you are doing this, you are gaining money. Also, you should be training straight for Margin Trading. Margin Tradings is extremely important, expanding the amount of money you can work with by A LOT. I suggest keeping on with running missions in the hub. It's kinda fun for a while, earns some more money and gives you more suggestions for modules that you could snatch up there. Also, you'll see what kind of stuff you need yourself. Say, you find that you need 10 Hammerhead Is for your Vexor and the mission hub has none... now you know what to bring on your next trip from trade hub to mission hub.

If you want to add another layer to your operations, get skills in refining. Look at the modules you get from your missions and what minerals you could get out of them. Start buying up all mission loot that refines for a profit. That's actually how i got my starting money that got me into trading: Buying thousands of Small Armor Reps, Miner Is and Small Shield Boosters in the Gallente starter region. Oh and the Imicuses that the noobs build from the blueprints they got during their tutorial :D

My siren's name is Brick and she is the prettiest.

Beckie DeLey
Garoun Investment Bank
Gallente Federation
#7 - 2012-01-18 23:03:56 UTC
2post

My siren's name is Brick and she is the prettiest.

clamslayer
Doomheim
#8 - 2012-01-18 23:24:38 UTC
Trading is not for you mate.

move on to other things, like mining.
DelBoy Trades
Trotter Independent Traders.
Disaster Strikes
#9 - 2012-01-19 00:08:36 UTC
Trading is hard, no money in it, don't bother, everyone do something else please. Thank you.

Damn nature, you scary!

Cardval Simalia
Doomheim
#10 - 2012-01-19 01:01:32 UTC
I make billions off trading too I just want CCP to make it fair.
clamslayer
Doomheim
#11 - 2012-01-19 01:21:41 UTC
market bots are so lame, because of them i have taken a break from trading.

Urich VonWolfenstein
Doomheim
#12 - 2012-01-19 01:34:12 UTC
Gratings you seem to be in the same position i was in about a year ago, not sure what do do and lost. Beckie DeLey has already posted some good ideas to start with especial the buying worthless loot and refining it. Remember do not buy it directly of the market but place a buy order as you can set the price lower and not aquare as much that fast but you will be getting them at about 50% discount :)

If you are going to be trading the mission hubs is a good place to start. A easy way to know what to sell it to try and look at from the missioners point of view. They are lazy and don't want to make 2-3 jumps and will pay a mil or two extra for goods and what do they use. So think ammo, drones that are used up or lost frequently. Ships is a yes but certain ones.

The best way to know what to sell and where is hang out in the region and look at the graphs, you can see when certain things sell and haw much. So research is a big part of starting, a good way of doing that and still making money trading is trading consumer products. Its not soo super profitable but you get some money rolling slowly while you get some skills up and understanding of the economy. Things like toxic waist antibiotics may look like its pointless buying them but in numbers can turn over some modest profits, also a hauler is advised to be used especially the mammoth or iteron 5. While it may take some time to get there you will have by then learned what you need to do and haw. Also if you chose to move largeamounts of small materials using a hauler remember freighter container some haw defies and gets you extra storage space which come in handy.

Trading is game of patients so dont rush and put all eggs on one basket because if **** hits the fan not everything is lost but only a fraction. A good place to get cheap deals is the Bulk Trade mailing list most time people have goods on it under market price.

Watch out for good deals, and im talking about to good to be true deals. One that I ones fell for a margin scam. If someone has margin trading 5 they need one 24% of the buy order. So they will be a huger buy order lets say for Bane Torp buying them at x10 normal price but they require minimum on 20 mill units to make a transaction and you look around the sell orders and there's hand full of high volume of Bane torps for sale at x2 or more most likely be the same person trying to get you to buy there product and sell back to them, that's where the margin trading kicks in, if they don't have the isk to for fill the buy order (one where the buy order is x10 price) it will break and you will be stuck with the torps and he would have made a sweet profit.

I hope that helped a bit and im sory for my shity english, feel free to ask more questions
Dan Osiris
Never Not Contract
#13 - 2012-01-19 02:23:57 UTC
you wont be making a lot daily but if you are looking for faster fill orders putting in the same amount of effort you do now, i suggest jita trading. Competition is fierce, but item movement is much much faster than amarr, and so you dont have to be always on top of the buy order to get them. You just gotta be careful when producers drop TOO much of the item into the market and then sell prices then become where your buy prices were at the beginning of the day.

to get a reference I make a net profit of 20-40 mil a day, around 100 mil on the weekends doing the same 15min a session, twice a day routine. This is done with maintaining an approximate 1.5bil in buy orders and also 1.5b -2b in sell orders.
Ruvin
Amarr Empire
#14 - 2012-01-19 09:28:17 UTC
i thank for advices those who tryed to help :)

Opportunities multiply as they are seized.

Tanya Powers
Doomheim
#15 - 2012-01-19 09:32:52 UTC
Dyaven wrote:
I sent an alt 100m in Amarr and started trying to work my way up by placing buy orders and then selling at normal market - pretty simple and straightforward. The time invested could be kept very low by only checking the alt a few times or even once a day, but then the buy orders would never get filled due to the competition updating prices more frequently than you.

In the few days I've been trying this it seems like it's very low isk/hour potential... I knew ahead of time that with 100m the return wouldn't be astounding, but it seems to me like even if I put 1b worth of buy orders up there isn't anything that would make them get filled faster. So far I've made about 10m but all of the profit is caught in sell orders that aren't getting filled. If I had invested the time I've spent on this endeavor so far into ratting I'd have made at least 5x that.

I'm aware that trading is a profession that's typically kept under wraps by those in the know to keep competition out, but I figured it'd be worth asking for any tips/pointers.


Why do you think so many are raging against bots?
Market is full of them, mining is full of them. Also, you need to move from Amarr or Jita/rens/dodixie.