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Sharing trade secrets
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Boshisk
Deep Core Mining Inc.
Caldari State
#1 - 2013-03-03 11:22:02 UTC
Do you guys share your trading tips willy nilly not caring about the potential competition, keep it to yourself or make EVE stay great and lead them on the path to bankruptcy ?

I've been sharing my station trading tips so far but now I'm starting to think that I am just cutting into my own profits. Maybe we could band together as a community of traders and give the budding traders the same 10 "hot tips" which would make those items have crazy amount of competition leading to those potential competitors to give up on trading after getting undercut 20 times before their 5 minute delay is even gone. "Oh I don't know what you are doing wrong but I've made a lot of ISK on those items I gave you, maybe you are just not cut out to be a trader" ---> less people trading, we all make more.

But anyways, what's your stand on sharing your trading secrets and hot picks ?
Ethan Freeman
Doomheim
#2 - 2013-03-03 11:27:57 UTC
Boshisk wrote:
Do you guys share your trading tips willy nilly not caring about the potential competition, keep it to yourself or make EVE stay great and lead them on the path to bankruptcy ?

I've been sharing my station trading tips so far but now I'm starting to think that I am just cutting into my own profits. Maybe we could band together as a community of traders and give the budding traders the same 10 "hot tips" which would make those items have crazy amount of competition leading to those potential competitors to give up on trading after getting undercut 20 times before their 5 minute delay is even gone. "Oh I don't know what you are doing wrong but I've made a lot of ISK on those items I gave you, maybe you are just not cut out to be a trader" ---> less people trading, we all make more.

But anyways, what's your stand on sharing your trading secrets and hot picks ?


The Eve market is not as vast as many make it out to be, holding your cards to your chest is crucial if you want to make the most profit.
Mu-Shi Ai
Hosono House
#3 - 2013-03-03 11:38:18 UTC
The problem with sharing specific trading information is that it's not truly helpful to the person you're sharing it with. If you really want to help them, you'll give them general information and broad strategies that they can employ. Because of this, I've always disagreed with the closed, antisocial mentality a lot of traders take on. Any legitimate help you give another player is going to stand very little chance of cutting in on your action, because it will necessarily be wrapped in generalities in order to be broadly applicable, and not just a one-off "hot stock"-style tip.
Vaerah Vahrokha
Vahrokh Consulting
#4 - 2013-03-03 13:17:13 UTC
Boshisk wrote:
Do you guys share your trading tips willy nilly not caring about the potential competition, keep it to yourself or make EVE stay great and lead them on the path to bankruptcy ?


No, I created a thread exactly to disclose them all.

EvE Online portal | EvE markets tutorials
Bad Bobby
Bring Me Sunshine
In Tea We Trust
#5 - 2013-03-03 13:33:23 UTC
I've made more money from publicising trade oppertunities than I have from keeping them a secret.
Mu-Shi Ai
Hosono House
#6 - 2013-03-03 13:51:36 UTC
Bad Bobby wrote:
I've made more money from publicising trade oppertunities than I have from keeping them a secret.


Yes, because people stupidly believe that specific information is more useful than learning how to do things in terms of general methods and best practices.
Kazuma Gaterau
The Scope
Gallente Federation
#7 - 2013-03-03 14:20:56 UTC
All about supply and demand. If there is too much activity place a very low percentage of your stuff for sale above the lowest price at your ideal price prior to undercut battles
Once that sells you know the undercutter's supplies have waned and you can put up more of your product to maximize profit
Sure it's not as fast as just undercutting and watching, but it's much more lucrative
Varius Xeral
Doomheim
#8 - 2013-03-03 14:56:34 UTC  |  Edited by: Varius Xeral
mah seekrits!

you peons could never understand the infinite complexity of putting up buy orders, and then selling the stuff you collect! I'm a geeeneeeus! Just like industrialists with 14 alts and someone else's spreadsheet!

It's a stupid game, and 99% of you are stupid, you just care more or try harder than other people playing the game.

Official Representative of The Nullsec Zealot Cabal
Mu-Shi Ai
Hosono House
#9 - 2013-03-03 15:00:28 UTC
Varius Xeral wrote:
mah seekrits!

you peons could never understand the infinite complexity of putting up buy orders, and then selling the stuff you collect! I'm a geeeneeeus! Just like industrialists with 14 alts and someone else's spreadsheet!

It's a stupid game, and 99% of you are stupid, you just care more or try harder than other people playing the game.


It's not all as easy as that, but I'll agree with the point behind your sarcasm, which is that the market-oriented people in this game often act like what they do is wizardry, when it's actually far more simple.
Varius Xeral
Doomheim
#10 - 2013-03-03 15:03:44 UTC
Mu-Shi Ai wrote:
It's not all as easy as that, but I'll agree with the point behind your sarcasm, which is that the market-oriented people in this game often act like what they do is wizardry, when it's actually far more simple.


Hi5s, brogurt.

Official Representative of The Nullsec Zealot Cabal
Wyke Mossari
Staner Industries
#11 - 2013-03-03 15:21:16 UTC  |  Edited by: Wyke Mossari
Sharing broad strategies is certainly more helpful that tipping specific item because profitability of specific item can change in a heartbeat. As you become wealthier and move up the value chain you leave a lot of items behind because they are no longer useful, their volume * profitability remains fine but their price point mean the overall profit falls short as percentage of overall wealth.

I started trading named module such as type-d modules from mission drops, then moved up to local modules like Hull and Engineering. This kind of stuff is always a good starting point to cut your teeth.

I dropped those when I made my first Billion on Hydrogen Batteries, these where often the bonus item for mission reward and often required in huge numbers for certain important missions. So I used region wide buy orders, and resold them in situ for a good profit. I moved on from that to doing the same with Uranium. Changes mission rewards made that obsolete.

I traded blue print copies for a while, starting with modules, added frigate, added industrials, dropped modules when I added cruisers. Now I only bother with BC and BS.

Today I only make trades with orders valued in the Billion and for those I expect to make tens or hundred of millions in return, you need to learn to translate patch notes and dev intentions trading opportunities.
Alexis Valentyne
Anacorn Contracts Agency
#12 - 2013-03-04 03:39:54 UTC
Nobody gives away their #1 trade secret. Ever. If they do, they're lying.

I seem to smell the stench of appeasement in the air.
Candy Oshea
Techfree Investment Group
#13 - 2013-03-04 03:47:23 UTC
thulium

iCandy  - I have accidently swallowed some Scrabble tiles, my next shit could spell disaster!
Brown Nose Jersey
Science and Trade Institute
Caldari State
#14 - 2013-03-04 06:01:03 UTC
I personally took as trade / manufacture students 4 pilots so far. Pointed them in the right direction (usually a FW hub) and gave them some pointers about reading the price history tab.

I've moved on from other hubs than Jita since my empire is now to big to deal outside of it so sharing the info didn't cost me a dime. Back when I used to do that I managed to plex 8 accounts from just trading in such a hub.

For everyone else reading this in search of knowledge to make a living you could : look for a FW hub (there is one high sec hub and another low sec one for the invading militia) - feed both militias there with small/med rigs (extenders, trimarks, routers, etc) which you can manufacture yourself either by buying the BPC's or researching your BPO's(little time investment) and selling t2 small/med guns and everything else that gets blown on a regular basis.

Having another trader parked in Jita to keep updating buy orders and another to run logistics between Jita and FW is win. Once you have covered a hub you can now extend parking another trader somewhere else etc.

Another thing I did was keeping tabs on all my competition : I knew each guys trade list in my hub (info attainable from wallet) thus mostly focusing on keeping a closer eye only on those specific items depending on who was online (makes things ex specially when your trader has 200-300+ orders active).
Raithe Mindari
State Protectorate
Caldari State
#15 - 2013-03-04 08:55:47 UTC  |  Edited by: Raithe Mindari
I'm a budding trader looking to make money for the first time in Eve. It's fairly easy to see that specific information would be equivalent to giving a man a fish.

Once that fish is eaten he's in the same position as before with no real skills to show for it.

Edit: If someone gave me a juicy tip I'd be constantly paranoid that they'd have all the pieces lined up to profit from my endeavours.
Candy Oshea
Techfree Investment Group
#16 - 2013-03-04 09:01:04 UTC  |  Edited by: Candy Oshea
Raithe Mindari wrote:

Edit: If someone gave me a juicy tip I'd be constantly paranoid that they'd have all the pieces lined up to profit from my endeavours.


Haul pvp items to your alliance HS jump point, use jf service (assuming TEST would have logistics??), list items like tengu ammo in ratting hubs (rat specific stuff)

And, of course, The eternal advice to any new trader:

buy thulium.

iCandy  - I have accidently swallowed some Scrabble tiles, my next shit could spell disaster!
Princess Saskia
Hyperfleet Industries
#17 - 2013-03-04 09:20:18 UTC
Nope.

 ♥ 
Mari Hata
Main Street Crafts and Goods
#18 - 2013-03-04 11:00:37 UTC  |  Edited by: Mari Hata
Candy Oshea wrote:
thulium


I'd rather stick to my grand scheme of manipulating Alloyed Purple Isotopic Carbonitechnizydrates.

By batches of 20b, ofc.

♫ ♪ ♪
Boshisk
Deep Core Mining Inc.
Caldari State
#19 - 2013-03-04 11:33:41 UTC
Seems like most people here don't mind sharing general tips on how to trade, but having given a lot of advice to other people on how to station trade in jita, I'm now realizing after getting my 250+order slots that there's really not that many items to trade with in jita that have a decent enough profit on them. So even If I'm giving people only generalized tips on how to trade in jita, if they kept on doing it and expanded their operation to the level that I'm at, then they would inevitably end up competing with me on the same items.

So with the fishing metaphor: why not break the man's fishing pole and make him buy the fish from you like the rest of the people ?
Mari Hata
Main Street Crafts and Goods
#20 - 2013-03-04 12:13:48 UTC
I haven't seen much but from what I could tell, social capital is a commodity appealing enough so that people behave as avid consumers of street cred and invest a little iskies in it. There is a market for everything after all...

♫ ♪ ♪
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