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Seeking information to learn the market...
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Serena Darknight
Doomheim
#21 - 2016-04-20 07:03:27 UTC  |  Edited by: Serena Darknight
Well, here is an update on how I have been doing so far:

I decided to try trading in Lonetrek. I set up shop in Sobaseki and started buying and selling T1 shield extenders (and T2 when I could afford it). From there, two of the three career agent stations for Caldari are 4 jumps away and the third one is 8 jumps. I set my buy orders at career station + 2 jumps and Sobaseki was 5 jump buy orders.

After the first day, I realized that the 5 jump buy orders around Sobaseki was a mistake. I had one and two shield extenders littered all over the place and it took almost an hour optimizing routes just to pick up all of the items (and the Sigil has 3 Hyperspatials on it doing 7 AU/s). Twice, I had to venture into lowsec to get the goods, but I have a decent Magnate that can handle that. Couple of days ago, I dropped Sobaseki range to two jumps since I realized that was overlapping with Akiainavas and Jouvelen and the buy orders there. I just set up Uitra yesterday so not much from there yet.

As of now, I have:

Assets: 5.3m isk (my couple of ships mostly)
Wallet: 18.8m isk (was 9.2m yesterday)
Buy Orders: 19m isk
Sell Orders: 11.3m isk
Total Net Worth: 54.4m isk

I am planning on doing mining and Level 1 missions to suppliment my income. I have a mining ship but going to take a few million and invest in a frigate combat ship for mission running. I have decided that in the next day or two I will create my own solo corporation but will not take investors until I have a better understanding of what I am doing.
Thermal Damage
Star Nation
Goonswarm Federation
#22 - 2016-04-20 10:43:11 UTC
I'll double your net worth if you want. Pay it back if/when you want to.

Just continue blogging your progress in return.

I was found guilty of Nitshe by the CoCaP
Serena Darknight
Doomheim
#23 - 2016-04-20 11:35:32 UTC
Thermal Damage wrote:
I'll double your net worth if you want. Pay it back if/when you want to.

Just continue blogging your progress in return.

I will continue to show my progress so I can get feedback. I am doing good so far but I do believe that I need to branch out and probably go into The Forge in the next week or two when I get more capital. I am still not sure what else to start buying/selling when I get to that point.

But so far I am having so much fun.
Rhivre
TarNec
Invisible Exchequer
#24 - 2016-04-20 11:46:10 UTC
Around your level of isk, if you are doing station trading (especially in a hub), I usually use T2 modules, but, also look at items that you yourself fit on your ships, even if that ship is a T1 frigate :)

Fluffy Bunny Pic!

Serena Darknight
Doomheim
#25 - 2016-04-20 11:56:38 UTC
Rhivre wrote:
Around your level of isk, if you are doing station trading (especially in a hub), I usually use T2 modules, but, also look at items that you yourself fit on your ships, even if that ship is a T1 frigate :)

I am purposefully avoiding major hubs due to the fierce competition and do not wish to do the 0.01 isk dance. Like I said, I have been dealing with mostly T1 and some T2 shield extenders but might move into missile launchers and hybrid guns too, then towards frigates and destroyers.

If that doesn't work, then I might have to head to Jita but really would like to avoid that if I can. Hope you understand...
Thermal Damage
Star Nation
Goonswarm Federation
#26 - 2016-04-20 12:03:35 UTC
I only trade in Dodixie, purely because it is far less competitive than Jita. Maybe try setting up there?

I was found guilty of Nitshe by the CoCaP
Serena Darknight
Doomheim
#27 - 2016-04-20 19:19:48 UTC
Thermal Damage wrote:
I only trade in Dodixie, purely because it is far less competitive than Jita. Maybe try setting up there?

I will give this area a week and see how I do. If I don't like the results, I might take your advice.
Bumblefck
Kerensky Initiatives
#28 - 2016-04-20 19:57:10 UTC
Serena Darknight wrote:
Thermal Damage wrote:
I only trade in Dodixie, purely because it is far less competitive than Jita. Maybe try setting up there?

I will give this area a week and see how I do. If I don't like the results, I might take your advice.



Try Osmon and Apanake too - busy mission hubs, very laid-back marketeering to be found and only a few diehard 0.01iskers. Pretty good margins too (never underestimate the natural propensity to laziness in the average EVE player!)

Perfection is a dish best served like wasabi .

Bumble's Space Log
Serena Darknight
Doomheim
#29 - 2016-04-21 06:49:05 UTC
Bumblefck wrote:
Serena Darknight wrote:
Thermal Damage wrote:
I only trade in Dodixie, purely because it is far less competitive than Jita. Maybe try setting up there?

I will give this area a week and see how I do. If I don't like the results, I might take your advice.



Try Osmon and Apanake too - busy mission hubs, very laid-back marketeering to be found and only a few diehard 0.01iskers. Pretty good margins too (never underestimate the natural propensity to laziness in the average EVE player!)

No matter what anyone else says, you are good man. I logged on to see that hardly any of my buy orders took and apparently I didn't have enough isk to cover my buy orders, even though it deducted the isk from my account when I put the buy order in.

Not sure I understand that part, but will go visit these two areas and check it out. Thanks.
Pookoko
Sigma Sagittarii Inc.
#30 - 2016-04-22 01:38:00 UTC  |  Edited by: Pookoko
Serena Darknight wrote:
Bumblefck wrote:
Serena Darknight wrote:
Thermal Damage wrote:
I only trade in Dodixie, purely because it is far less competitive than Jita. Maybe try setting up there?

I will give this area a week and see how I do. If I don't like the results, I might take your advice.



Try Osmon and Apanake too - busy mission hubs, very laid-back marketeering to be found and only a few diehard 0.01iskers. Pretty good margins too (never underestimate the natural propensity to laziness in the average EVE player!)

No matter what anyone else says, you are good man. I logged on to see that hardly any of my buy orders took and apparently I didn't have enough isk to cover my buy orders, even though it deducted the isk from my account when I put the buy order in.

Not sure I understand that part, but will go visit these two areas and check it out. Thanks.


It sounds like you have margin trading skill trained, which is a very good skill to have, but somehow you are not familiar with the mechanics.

You can do searches on margin trading skill information to find out more, but here's the basics

1. You place a buy order worth 10 mil

2. Your margin trading skill is at 1, which means for every buy order you place, only 75% of the order value will be taken off your wallet and put into escrow

3. There are two scenarios o how this works

A. 1 buy order for 1 unit of item at 10mil buy price

B. 1 buy order for 100 units of a single item at 100,000 ISK buy price per unit

> In both cases, 7.5mil ISK will be deducted from your wallet upon the placement of each buy order

4. What happens when you do not have enough ISK to cover the actual transaction when someone sells to you?

Let's assume you placed above buy orders and after that have 0.00 isk in your wallet.

For the case A, your buy order will simply be cancelled. The seller's item will return to his own hangar, with no cost incurred. Your buy order will disappear and the 7.5mil you put down in escrow will return to your wallet.

For the case B, if someone tries to sell you 100 units of this item, transaction will complete for 75 items, which equates to 7.5 mil ISK, which is 100% covered by the ISK you put into escrow when you placed your buy order. For the other 25 units, you do not have enough ISK to cover, so the transaction will not complete. So the followings results will happen

> If the seller tried to sell using 'immediate' sell option, then 25 units will return to his hangar

> If the seller tried to sell using 1 day ~ 3 months sell period, 75 units will be sold to you immediately and a new sell order will be created for the remaining 25 units on the market with the period defined by the seller.

** In both cases, your buy order will disappear after this **

5. When you think about it the above way, you can understand why margin trading scam buy orders have minimum quantity set. This will be always set to the amount where the whole transaction will be cancelled, instead of getting partially filled.


I hope I'm not wrong about the mechanics, but if anybody finds I said something incorrect, please do point out.

o/
Serena Darknight
Doomheim
#31 - 2016-04-22 07:29:33 UTC
Thank you for the information. I have wondered about how that works. I have been training it but do not need it at the moment. I have switched areas and I am now dealing in small time T2 modules. So far, it has been going well. I will give another update in a few days.
Johnathan Coffey
Niforce Triggers
#32 - 2016-04-26 14:25:17 UTC
This thread is pure nostalgia for me.

First rule of EVE UI: right click EVERYTHING.
Fin Udan
Doomheim
#33 - 2016-04-26 14:39:33 UTC
Serena Darknight wrote:
Well, here is an update on how I have been doing so far:

I decided to try trading in Lonetrek. I set up shop in Sobaseki and started buying and selling T1 shield extenders (and T2 when I could afford it). From there, two of the three career agent stations for Caldari are 4 jumps away and the third one is 8 jumps. I set my buy orders at career station + 2 jumps and Sobaseki was 5 jump buy orders.

After the first day, I realized that the 5 jump buy orders around Sobaseki was a mistake. I had one and two shield extenders littered all over the place and it took almost an hour optimizing routes just to pick up all of the items (and the Sigil has 3 Hyperspatials on it doing 7 AU/s). Twice, I had to venture into lowsec to get the goods, but I have a decent Magnate that can handle that. Couple of days ago, I dropped Sobaseki range to two jumps since I realized that was overlapping with Akiainavas and Jouvelen and the buy orders there. I just set up Uitra yesterday so not much from there yet.

As of now, I have:

Assets: 5.3m isk (my couple of ships mostly)
Wallet: 18.8m isk (was 9.2m yesterday)
Buy Orders: 19m isk
Sell Orders: 11.3m isk
Total Net Worth: 54.4m isk

I am planning on doing mining and Level 1 missions to suppliment my income. I have a mining ship but going to take a few million and invest in a frigate combat ship for mission running. I have decided that in the next day or two I will create my own solo corporation but will not take investors until I have a better understanding of what I am doing.


Instead of reducing the range of your buy orders you should be increasing it. The more stations that your buy orders are visible from the more inventory you will acquire.
Instead of running around collecting stuff you should sell your inventory in situ using the marketing skill.
You should aim at setting 20 jump range buy orders and having marketing4 and daytrading4 skills trained.
This will allow you to sell your inventory using remote sell orders and also allow you to remotely adjust sell order prices.

Hope this helpsSmile

I trade Eve Mogul
Fin Udan
Doomheim
#34 - 2016-04-26 14:52:12 UTC
Apropos my last post I would be happy to give you an uncollateralised loan of 200m for 28 days at 15% interest.

Send me an evemail if interested Smile

I trade Eve Mogul
Karin Yang
Sebiestor Tribe
Minmatar Republic
#35 - 2016-04-26 15:36:26 UTC
try some where less occupied with competitors if you don't have much isk and time.
pushdogg
relocation LLC.
#36 - 2016-04-27 05:36:22 UTC
I've enjoyed reading about your forays into trading OP, I wish you the best of luck. And please keep blogging, it's always good to see an Eve player take things into their own hands and make good on a game that has so many options for play.

+1
Tam Arai
Mi Pen Rai
#37 - 2016-04-27 07:42:17 UTC
i used to do similar to you in lonetrek

look at where the lv4 agents are and make sure you have them covered with buy orders for typical loot generated by mission runners. i used to run lv4 missions and looked at the loot i had generated over time and set up buy orders for the same things.

about once a month i would spend a day in my tayra collecting everything- tedious but some good profit

i seem to recall i used to set my buy orders up in umokka with a 10 jump range- only get a few lowsec systems included in that but i pretty much had all of hisec covered too apart from a couple of systems.
Serena Darknight
Doomheim
#38 - 2016-04-27 08:06:24 UTC  |  Edited by: Serena Darknight
Here is an update on how I am doing so far. I decided to move to Jita for the time being and see how I do. I am not planning on staying here very long since I have had to do the 0.01 isk dance, and I don't like it. I am not on enough to really be competitive but it is a learning experience so far.

As of right now, here are my numbers:

Assets: 12,636,042.76 isk
Escrow: 14,860,476 isk with 8,775,649 isk to cover

Buy orders: 23,636,126 isk
Sell orders: 21,909,569 isk

Personal wallet: 17,332,044.48 isk
Corporation wallet: 49,583,293.55 isk

Not sure how I would add it up but I do not believe I have lost any isk in any buy to sell transaction, but with some of these transactions, the profit margin isn't that great due to the vast amount of competition in Jita. I think when I get some of my skills up, I might head back to Sobaseki.

Currently, my skills are as follows:

Accounting 4
Broker Relations 4
Contracting 1
Daytrading 1
Margin Trading 1
Marketing 2
Procurement 4
Retail 4 (training to 5 right now)
Trade 5
Visibility 1

I have it set up so most of these will train out to at least 4 after Retail 5 finishes here in about 3.5 days. I did not know about reselling all of the stuff I get at the same station and that I could do that. Wish I knew that sooner but lesson learned again. At least I know I haven't lost out on a transaction like I did with those missiles. I thank all of you for the info but I do refuse the loan. I hope you understand.

P.S. I do have a question though. Does my standing with the corporation who owns the station I am trading in have any effect whatsoever with trading taxes or is that still the refining? Do I need to start thinking of running missions to increase standing with any faction/corporation?
Tam Arai
Mi Pen Rai
#39 - 2016-04-27 09:40:44 UTC  |  Edited by: Tam Arai
from eveuniwiki

BrokerFee % = (1% – 0.05% × BrokerRelationsSkillLevel) / e ^ (0.1 × FactionStanding + 0.04 × CorporationStanding)

Faction and corporation standings relevant to the station the orders are placed in will have an effect on the broker fee. Faction standings contribute significantly more than corp standings. Note that the unmodified standing is used for the calculation.

edit- increasing caldari navy and also caldari faction standings will help you in both jita and sobaseki
Johnathan Coffey
Niforce Triggers
#40 - 2016-04-27 17:38:39 UTC
Tam Arai wrote:
from eveuniwiki

BrokerFee % = (1% – 0.05% × BrokerRelationsSkillLevel) / e ^ (0.1 × FactionStanding + 0.04 × CorporationStanding)

Faction and corporation standings relevant to the station the orders are placed in will have an effect on the broker fee. Faction standings contribute significantly more than corp standings. Note that the unmodified standing is used for the calculation.

edit- increasing caldari navy and also caldari faction standings will help you in both jita and sobaseki

This is no longer accurate. As of this patch, the difference between no standings and perfect standings is a meager 0.5%. It's still worth the grind for those of us who churn huge amounts on thin margins (i.e. PLEX), but much less so for the average trader.

First rule of EVE UI: right click EVERYTHING.
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