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Trading for a new player...
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Natalia Petronovska
Doomheim
#1 - 2016-11-17 12:22:45 UTC
I have recently started this game today after researching for about a week, watching a lot of videos and working on setting up my own trading spreadsheet. I usually do auction houses (buying low and sell high) in other MMOs and this game was suggested. So far, I am blown away from the complexity of this game. The spreadsheet is slow going right now as I am learning how to tweak it and I also have set up Eve Trade Master too.

I have started this with about 2m isk of capital (had to do some mining to start it). I do have a couple of questions...

1) What skills would be good starting off in the next week to help with my profit margin? I know you eventually get all the trade skills to 5 but what would help in the next week or two?

2) Do I need to haul? Should I train to haul?

3) How can you tell what can really make a profit or is it hit or miss? Is that what the spreadsheet is for?

I appreciate any advice you can give me. My plan is to be able to pay for my account in game. I have heard it is possible to do so...so I am going to take a shot at it.
Do Little
Bluenose Trading
#2 - 2016-11-17 13:11:39 UTC
You will pay brokerage and transaction fees on sell orders, and brokerage on buy orders (seller pays the transaction tax). Brokerage starts at 3% and can be reduced to 2% with skill (broker relations) and standing. Transaction tax starts at 2% and can be reduced to 1% with accounting skill.

If you place your orders at a Citadel market the brokerage is set by and paid to the owner. Transaction tax is still collected by CCP. These trading "frictions" apply to every transaction and make it difficult for a new player to compete - especially if you are station trading in a high volume, low margin market like Jita.

Inter-regional trade still works but, with low skill you'll need a 10% spread to be worthwhile. There are secondary markets serving mission runners and faction warfare where people are willing to pay a premium for convenience. What works and where is valuable knowledge people are unlikely to share in the forums - they'd be cutting their own throat!

Eve is a commodity market and commodity markets are cyclical. The in-game tool has a market history tab you can use to view the cycle. If you are patient, you can buy near the bottom of the cycle and relist somewhere in the top half - your product will sell and you will make a profit but it could take a while, you'll need lots of capital.

Personally, I've never felt the need for spreadsheets in-game, I use them in real life. I chose my market a couple of years ago (not Jita) and now know it well enough that I can practically feel when it's about to turn! I also manufacture the stuff I sell so I have a lot more margin to play with than most traders.
Bobb Bobbington
Rattini Tribe
Minmatar Fleet Alliance
#3 - 2016-11-17 13:28:17 UTC
1. Train skills which give you more orders, you won't need them with 2m but once you start hitting a couple hundred or a bil you will, as you spread out for more profits. For straight margins train up the two skills that reduce taxes.
2. You can or you don't have two. The two most common ways are station trading and inter regional training, separated by exactly what you're asking. Station trading you never undock, inter regoional you haul and take advantage of price differences.
3. If you're station trading, you want to find items with good margins, volume, and low competition. These should all be fairly self explanatory. Be prepared to play .01 isk games though if you station trade- a method of having your order on top, so that people sell/buy from it, by continually outbidding competitors by the smallest amount possible, .01.

Spreadsheets help a lot if you're regional hauling, however with station trading you can get more from the feel of a graph than the statistics, because the stats don't show the whole picture.

This is a signature.

It has a 25m signature.

No it's not a cosmic signature.

Probably.

Btw my corp's recruiting.
Natalia Petronovska
Doomheim
#4 - 2016-11-18 07:26:02 UTC
Thanks for the replies. I was not expecting anyone to give up their tricks of the trade. I was just wanting a bit of guidance for the start of my career. It is disheartening seeing that it is very competitive and that this will be an uphill battle but I am going to stick it out and see how I do.
Kane Adestur
Minmatar Trading Corporation
#5 - 2016-11-18 11:24:59 UTC
Some Social skills might come in handy if you plan to trade in NPC stations. The Broker Fee can be reduced to 2.5% with the skill "Broker Relations" and down to 2% (in theory) with standings:

Broker Fee Chart

So it might be a good idea to train Connections and Social to IV or something.

You'll need good standings with the faction and the corporation of the station you are trading in.

But be warned, to grind standings can be a very long and horrible task...

If you use Citadels, you don't need any Social skills or standings.
Tipa Riot
Federal Navy Academy
Gallente Federation
#6 - 2016-11-18 13:48:24 UTC
You want to train for production skills, because then you can cut the "buy low and wait" part out of your equation. The deal comes from the fact that end products often raise in price because of sudden demand where the materials to manufacture do not or much later. At least this is how it works best for me. I'm hauling my stuff, but you can pay others for doing it.

I'm my own NPC alt.
Decidivus Jones
Harriman Trust
#7 - 2016-11-24 23:41:48 UTC
Bobb Bobbington wrote:
Train skills which give you more orders.


This. Find a mini-hub in an out of the way system, that's close to a couple different regions. proceed with your buy low sell high strategy. Start ratting or running missions to build capital. Sell the loot and salvage you find, which will give you further ideas about what sells well. Run back and forth between the regions, and you'll quickly find goods that are dirt cheap in one system, and astronomically high just a few jumps over in a different region. With only a few million in starting capital, focus on these items and you'll increase your capital dramatically.
Natalia Petronovska
Doomheim
#8 - 2016-11-25 23:04:45 UTC
Here is an update...

I currently have around 70m isk in my wallet, 35m in buy order and 15m in sell orders. I have had some success with shield modules and the Scythe cruiser ship. I have decided I am gonna do what was suggested and find a small home to start moving stuff along, and I have a mentor to help guide me. I appreciate all the guidance and info given so far.

This community is great.
Bumblefck
Kerensky Initiatives
#9 - 2016-11-26 02:19:04 UTC
Natalia Petronovska wrote:
This community is great.




We are, but I wonder how long you will maintain that perception Twisted

Perfection is a dish best served like wasabi .

Bumble's Space Log
Natalia Petronovska
Doomheim
#10 - 2016-11-28 01:15:29 UTC
Bumblefck wrote:
Natalia Petronovska wrote:
This community is great.




We are, but I wonder how long you will maintain that perception Twisted

I didn't expect anyone to help me or give me advice but someone did step up and offer to mentor me and others have given good advice. It has allowed me to further expand and now I think I am sitting on 350-400m total in assets, buy and sell orders. In my eyes that is really good but compared to what I have seen in other forums, this is small change.
The Fukuzawa
New Eden Trade Group
#11 - 2016-11-28 02:26:43 UTC
Natalia Petronovska wrote:
Bumblefck wrote:
Natalia Petronovska wrote:
This community is great.




We are, but I wonder how long you will maintain that perception Twisted

I didn't expect anyone to help me or give me advice but someone did step up and offer to mentor me and others have given good advice. It has allowed me to further expand and now I think I am sitting on 350-400m total in assets, buy and sell orders. In my eyes that is really good but compared to what I have seen in other forums, this is small change.



Its enough for you to start thinking outside the box like we discussed. Once you can set aside some isk to experiment, that's when you will find the opportunities for low maintenance income.

! ! ! 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.
Magnus Orly
Crucial Contribution
#12 - 2016-11-28 04:21:21 UTC
Most of it is however...."player skill" if you know what I mean Blink

Check youtube videos :-)

Our corporation is recruiting! We live in Caldari high-sec and do mining, missions and trading.