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Attempting to station trade, think i made a booboo............
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Lucifer Saissore
House of Black Lanterns
#1 - 2016-12-15 19:59:48 UTC
Attempting to play the market and have started off doing abit of station trading.

what i have done though i think is dig myuself a hole that i would like to get out of, what i done is buy a bucket load of a particular item direct from buy order's, i done this so i could manipulate the price and sell them at a much higher mark up, this worked for a few hours then some other players put more sell orders up at a very low price forcing my sell orders down the ladder, so like a fool i bought them aswell putting my orders back at the top. Again this is working slowly but i cannot sit in watching the price all day.

So bearing in mind i am a learner and this is my 1st attempt, what would you do in this situation, i could i suppose just sit on the items and leave them , or do i keep trying to manipulate my orders?

any free advice appreciated
voetius
Grundrisse
#2 - 2016-12-15 20:56:37 UTC
It's hard to say what I would do without knowing what the item is and how much you bought it for. But I think your options are:

If you think the price is going to stay low tying up your isk longer than you would like:

- you could cancel the sells and move the goods out, either to another hub or station where you are more likely to sell at your target price. You will lose fees that you paid to set up the sell order(s) originally.

- you could put the price down to either the buy price + your fees and just break even getting your isk back

- you could price your stuff at buy price or slightly under and take a small loss

- you could just leave them and wait it out

Any of the above may be the appropriate response depending on the item(s) and your personal preference.

One thing you should do is look at the market history table and see what the normal volume and price is for the item. Of course, people will point out that you should have done that before trading those items but I'm looking at what you can do now, rather than analysing where you went wrong (if you did). So try and gauge what price they will sell at in some time frame.

My own trading style is set a price and leave it. Sometimes I will make a price adjustment once a week, but most items I trade, I buy at what I think is a good price and have a specific sell price that I set and rarely change. This is not a strategy that new traders will find useful as it requires some in-depth knowledge of the prices, trends and cycles for the specific products that I trade.
Casiella Truza
Ecliptic Rift
#3 - 2016-12-15 23:50:10 UTC
Lucifer Saissore wrote:
Attempting to play the market and have started off doing abit of station trading.

what i have done though i think is dig myuself a hole that i would like to get out of, what i done is buy a bucket load of a particular item direct from buy order's, i done this so i could manipulate the price and sell them at a much higher mark up, this worked for a few hours then some other players put more sell orders up at a very low price forcing my sell orders down the ladder, so like a fool i bought them aswell putting my orders back at the top. Again this is working slowly but i cannot sit in watching the price all day.

So bearing in mind i am a learner and this is my 1st attempt, what would you do in this situation, i could i suppose just sit on the items and leave them , or do i keep trying to manipulate my orders?

any free advice appreciated


This can work under some circumstances, such as when you expect the volume of new supply to remain low but demand will be inelastic and able to soak up your orders. Also, if you're lucky, other sellers will follow your lead.

If you're in a major market hub, though, or working in a popular item, you may just be looking at a loss of the excess fees you paid when setting up your new sell orders.
Gregorius Goldstein
Queens of the Drone Age
#4 - 2016-12-16 10:34:15 UTC
Hard to pull off in Jita, far easier to do it on the smaller hubs. Perhaps you can haul your stuff somewhere else and rescue your ISK that way?
Lucifer Saissore
House of Black Lanterns
#5 - 2016-12-16 19:16:36 UTC
Thanks for the replies, i have been at work all day. think i may well have to haul the stuff to a smaller trade hub. Is there a simple way to see how the said item is doing in other hubs without actually travelling there?

thanks
Luthor Ikkala
Snow Moon City
Fraternity.
#6 - 2016-12-16 20:51:28 UTC
Eve-central.com and just search your product
Lucifer Saissore
House of Black Lanterns
#7 - 2016-12-16 21:15:34 UTC
Luthor Ikkala wrote:
Eve-central.com and just search your product



Thanks it looks like Rens have even higher sell prices than my own in jita, but i am not sure how to tell how many are been bought per day at Rens
Sabriz Adoudel
Move along there is nothing here
#8 - 2016-12-17 04:20:26 UTC
I do this often, but I only ever do it with items where I understand supply and demand dynamics well.

If you try this with Remote Sensor Dampener II or Enyo hulls, you will get burned, because players can just ramp up production to meet the spike in demand.

If you try it with a product that cannot be mass produced, however, you can sometimes get somewhere.

I made a good deal doing this with decryptors at various points in time, because I know demand is pretty inelastic.

I support the New Order and CODE. alliance. www.minerbumping.com
Tesal
#9 - 2016-12-21 22:10:46 UTC
Sell a very few orders at the lowest price you can. The opposition will lower their orders to match. Keep the bulk of your orders at a higher price. The lowball orders will churn through the sell orders. They will all be sold. Your higher orders will remain and when the market rebounds they will be sold then. It might take a month or 2 for this to work so you can't get your isk out right away.
Luthor Ikkala
Snow Moon City
Fraternity.
#10 - 2016-12-22 06:31:21 UTC
Lucifer Saissore wrote:
Luthor Ikkala wrote:
Eve-central.com and just search your product



Thanks it looks like Rens have even higher sell prices than my own in jita, but i am not sure how to tell how many are been bought per day at Rens


What ive done few times is that ive transported a portion of my stuff there and sold it with higher margins and when im about to clear out from the stuff with minimal losses i then sell the rest at jita for the current price. Althou i work with few hundreds of millions only so my losses are never toi big