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Maximus Hashur
n.Die The Periphery
60
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Posted - 2013.05.27 15:21:00 -
[1] - Quote
I don't expect to get real advice from this but its worth a shot. I realize that giving me advice would possibly cut into your profits.
That being said, it seems like Jita is a mess with way to much competition. Are the regional trade hubs like Dodixie better to start out in? Looked up...saw this F***ING clown dropping like a rock.-á Woke up in Vylade wondering what just happened!!! |
Adunh Slavy
872
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Posted - 2013.05.27 15:32:00 -
[2] - Quote
You're going to get all kinds of different answers.
Read them and take the parts you like. The thing to decide is which 'trade style' you like and want to maintain. Station, hub arbitrage, Region Wide, Inter-Regional, Intra-Regional Contracting, Long Term, Spread Monkey (aka 0.01 ISKing), etc etc.
So long as you sell at a price higher than you purchased, and at a high enough price to cover broker fees and taxes, you will make a profit. Play with the different styles. Find out which one you like best. Some styles are better suited to Jita, some styles are better suited to backwaters. The trick is finding a style you like, that has an impact on where you do business. |
Thur Barbek
Republic University Minmatar Republic
156
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Posted - 2013.05.27 19:47:00 -
[3] - Quote
You asking whether dodixie is better than jita for trading is like asking if a nyx is better than a hulk. You need to narrow down your question.
Pick a type of trading. Then ask advice about that type. As the previous guy said, there are dozens of types of trading and each one is very different from one another.
The only similarity is the "buy low, sell high" motto of all traders. |
Varius Xeral
Galactic Trade Syndicate
959
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Posted - 2013.05.27 19:52:00 -
[4] - Quote
Shockingly good answers. |
Samroski
Games Inc. The Night Crew Alliance
218
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Posted - 2013.05.28 05:35:00 -
[5] - Quote
Yes, it is best for all new traders to stay far away from Jita :)
On a serious note, Jita is an inevitable destination for me. Even though the majority of the money I make is not at Jita, I still need to go there to sell some stuff, and my long term investments generally involve buying at Jita.
Thus my 2 bits: trade at both these hubs. In fact, have your third character sitting at Amarr, and get the feel of what things are like all over the galaxy. Happiness is a warm gun, mama. |
Rhivre
TarNec Invisible Exchequer
195
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Posted - 2013.05.28 08:03:00 -
[6] - Quote
Whether you like jita or not depends on your playstyle.
Adunh has covered the various types of trading, and basically, there are as many types of trading as there are traders.
Feel free to hop into the Lounge, or GMBA or Syndicate Rookie Traders channels to say hi and ask questions |
Shen Curtis
Black Rise Distribution Service
0
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Posted - 2013.05.28 09:45:00 -
[7] - Quote
Which timezone are you in? Take note of that.
If you want some help, i can help you, as long as you won-¦t touch my bsns ;) |
Teodo Maasin
Maasin Analytics
0
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Posted - 2013.05.29 14:54:00 -
[8] - Quote
Based on my (admittedly limited) experience as a station trader, hereGÇÖs what I would advise:
1. Have a dedicated alt as a station trader, training only the relevant skill-set. DonGÇÖt try to part-time it while youGÇÖre mining or missioning or pvping; do all of that on separate accounts. 2. Keep your portfolio diverse. My rule has been never to have any one item take up more than 5% of my net worth (to include outstanding buy and sell orders combined). 3. Volatility does not always equal opportunity. When youGÇÖre just getting started, keep an inverse relationship between position size and the volatility of an itemGÇÖs price. Later, once youGÇÖve gotten a better sense of how the markets function and you have some liquidity to experiment with, then you can try speculating in the higher-risk markets. 4. Study the price history graph carefully and look at the data table before you post a bid. Make sure youGÇÖre not buying at the top of a spike. Also, check to see that people are actually filling buy orders at the current price; if itGÇÖs too low, then youGÇÖre just tying down your ISK in escrow for no good reason. 5. On sell orders, donGÇÖt get carried away with the 0.01 ISK game. The amateur thinks that if heGÇÖs not clicking his mouse, heGÇÖs not trading. IGÇÖve found that the best trade is often just to sit on your hands. Also true IRL. 6. Train margin trading to at least level 4 ASAP. Then, try to keep at least 2 ISK in buy orders for every 1 ISK in cash. It looks nice in your wallet, but holding too much cash is a dead weight for growth.
I could go on, but I don't want to build a wall of text.
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Gardo Mallkar
Caldari Provisions Caldari State
0
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Posted - 2013.05.29 15:40:00 -
[9] - Quote
To piggy back on this topic, when station trading is there an "acceptable" level of time for funds to be tied up in escrow?
As a noob to this I find myself with sell orders that are a week or more old, wondering if I should modify the order or perhaps I am just being impatient. For you vets, is there a window you allot when it comes to sell orders, and when it goes outside that window you then cancel or modify the order? |
Rhivre
TarNec Invisible Exchequer
201
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Posted - 2013.05.29 16:34:00 -
[10] - Quote
It depends.
If I am station trading actively with high volume items, then I keep the price nearer the top.
If I am station trading passively with items, I just list them at the price I like, and leave them there.
With my region buys and sells, I just list them and forget |
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MotherSammy
Gespenster Kompanie Villore Accords
7
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Posted - 2013.05.29 17:42:00 -
[11] - Quote
Gardo Mallkar wrote: I find myself with sell orders that are a week or more old, wondering if I should modify the order or perhaps I am just being impatient
If you're not modifying your price, you're doing it wrong. (exceptions for long term strategies) but given you're anxious about having a sell order up for over a week I can safely assume these aren't long term trades.
Modifying your price on any size stack of anything costs just 100 isk regardless of size of the stack or price of the goods involved. I modify the price of the majority of my ~1000 sell orders usually daily. Most of the time it's a few isk at best. Some stacks I have to slice a few mil off to be at or near the best price but what I'm getting at is you should be modifiying your price regularly. |
Teodo Maasin
Maasin Analytics
2
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Posted - 2013.05.29 19:33:00 -
[12] - Quote
Gardo Mallkar wrote:To piggy back on this topic, when station trading is there an "acceptable" level of time for funds to be tied up in escrow?
As a noob to this I find myself with sell orders that are a week or more old, wondering if I should modify the order or perhaps I am just being impatient. For you vets, is there a window you allot when it comes to sell orders, and when it goes outside that window you then cancel or modify the order?
Funds that arenGÇÖt GÇ£tied up in escrowGÇ¥ (in buy orders) are just sitting in your wallet. Cash in your wallet is doing nothing for you, if youGÇÖre a serious trader.
How often to modify a sell order price depends on the itemGÇÖs trade volume, the size and price of the sell orders ahead of you in the queue, and the trendline of the price history. If it looks like youGÇÖre at the bottom of a cycle and everyone else is still in panic-selling mode, IGÇÖd recommend leaving your sell price untouched for a few days or so. If you just passed a peak and prices are starting to trend downward, you might want to update your sell order price much more frequently.
Be wary of the GÇ£If you're not modifying your price, you're doing it wrongGÇ¥ approach. IGÇÖm sure that works for MotherSammy. But IGÇÖd suggest not being too eager to give up millions of ISK in profit just to be first in the queue and see a green transaction in your wallet.
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MotherSammy
Gespenster Kompanie Villore Accords
7
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Posted - 2013.05.29 19:59:00 -
[13] - Quote
Fair call if you trade a lower number of item types. I am happy to sell some items at a loss to clear my inventory (usually it's just a small profit or selling at cost at the worst) but the small losses when they occur are vastly outweighed by the enormous listing of profitable items.
I don't advocate chasing the lowest price...I try to list at a stable price that will move the good based on volume...and making sure i never purchase outside that volume.
having said that, if somebody drops a huge volume of goods at a price that is a massive loss for me, i won't hesitate to sacrifice the whole stack at 1 isk below that price. because my trade is based upon extreme diversity and no one item matters |
Kara Books
Deal with IT.
632
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Posted - 2013.05.29 20:23:00 -
[14] - Quote
If your a newbie, the best all around advice is to keep buy orders at "solar system" or just station, lots of them! modify as if you where going for the world record on fastest mouse clicker in the world.
Regional trading in trade hubs is suicide for a newbie, once again Im going to say it, I watch them come and go, they usually go with a loss of ISK as its a Massive investment, both time and ISK. Margins are horrible, so your cycles would be 50-100B isk, in other words amass 50-100B isk of goods and begin the long hauling process (20-30 hours) because Jita is the place to go if you want your overloaded freighters going poof. instead do what I did, go to some backwater region and start off nice and easy for goods that move well and goods where you can make a solid 50%-90% margin by filling orders in closeby tradehubs.
Keep in mind some goods are heavy (like tritanium and battleships which only fit into freighters) others are nice and light. aim for the light stuff as buying and skilling for a full blown freighter shouldn't be your first objective, ever.
Also keep in mind, many freighter pilots (if not most) scan the cargo they transport, if you use public Currier contracts, its only a matter of time before your best finds find competition and it will be very fast as iv learned on my own skin.
Start with small hauler and move to freighter once you have 12B isk.
Once again, start trading "station" in a smaller trade hub, and then slowly work into a 100% maxed trader with at-least 7 caldari standing if you want to eventually move into Jita.
Jita is a tough place if you dont manufacture 10 slots of stuff, that's where a good chunk of your ISK will come from, think of it as the bread and butter that holds you up when competition is particularly nasty (some weeks, sometimes)
Play your cards right and don't rush, and you will survive and be confident your standing on solid ground.
Be original, stepping on some ones food, especially some one much bigger will almost always end in crappy profits or loss of ISK. Originality is the most profitable way to go up fast.
my 5 isk |
Felcas
Prosperity At All Cost
1
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Posted - 2013.05.29 23:09:00 -
[15] - Quote
Call me ingame to talk about the market, I can't write anything now because I am leaving, plus, talking about it is much more usefull then just write down some ideas. Just a world of advice, even in the market you can fall of into a scam, eve mechanics allow for that, check Margin Trade. |
Zappity
Kurved Space
108
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Posted - 2013.05.31 21:55:00 -
[16] - Quote
ImportXML Hooray, I'm l33t! -á(Kil2: "The higher their ship losses...the better they're going to be.") |
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