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blankseplocked A big noobie hug and some questions
 
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Tirayne
Posted - 2010.05.13 14:01:00 - [1]
 

Firstly,

Hello to everyone. I've been playing Eve for around 6 weeks now, I already have 2 accounts (this being my trading alt) and can probably see more accounts in the near future. Anyway, I've come from 'another' MMO in which I spent alot of my time trading, but that didn't really compare to this place in any way.

Hope you don't mind some genuine questions from an aspiring tycoon?

A) Do you spread your buy orders widely, making small orders to cover a large part of the market or do you stick up orders for a high volume of the particular product and keep your ISK tied up in Escrow?

B) I find myself all over the place at the minute, buying and selling only on items which I can buy/sell with large margins. Here comes the question. I've found that these items are slow to move, were as the low margin items move quickly. Which do you prefer to go for? I suppose my lack of knowledge in the game won't help, but will come with experience.

C) How do you track your finances? I'm currently running a spreadsheet and Now I'm at the point were I can just type the quantities remaining on buy/sell orders and my current wallet balance and I get a kinda "what I'm worth" number. However this doesn't take into consideration items that I have in my hangar. How do you guys fit this in?

D) Do you let your buy orders completely run out before putting that same item up for sale or do you try to sell them as they're coming in?

Hope I'm not asking for any 'trade secrets', just some things I'm struggling to work out myself.

Not sure if this is something to be proud of or not, but I'm at around 120m ISK which I know is nothing compared to some, but I'm pretty happy so far!

Corcyrus Endymion
Caldari
Elder Tribes
Posted - 2010.05.13 14:47:00 - [2]
 

Originally by: Tirayne
Firstly,

Hello to everyone. I've been playing Eve for around 6 weeks now, I already have 2 accounts (this being my trading alt) and can probably see more accounts in the near future. Anyway, I've come from 'another' MMO in which I spent alot of my time trading, but that didn't really compare to this place in any way.

Hope you don't mind some genuine questions from an aspiring tycoon?

A) Do you spread your buy orders widely, making small orders to cover a large part of the market or do you stick up orders for a high volume of the particular product and keep your ISK tied up in Escrow?

B) I find myself all over the place at the minute, buying and selling only on items which I can buy/sell with large margins. Here comes the question. I've found that these items are slow to move, were as the low margin items move quickly. Which do you prefer to go for? I suppose my lack of knowledge in the game won't help, but will come with experience.

C) How do you track your finances? I'm currently running a spreadsheet and Now I'm at the point were I can just type the quantities remaining on buy/sell orders and my current wallet balance and I get a kinda "what I'm worth" number. However this doesn't take into consideration items that I have in my hangar. How do you guys fit this in?

D) Do you let your buy orders completely run out before putting that same item up for sale or do you try to sell them as they're coming in?

Hope I'm not asking for any 'trade secrets', just some things I'm struggling to work out myself.

Not sure if this is something to be proud of or not, but I'm at around 120m ISK which I know is nothing compared to some, but I'm pretty happy so far!


A) In the words of Hexxx himself: Diversify, diversify, diversify! Putting your eggs in one basket, even if that basket is the most comforting one, only needs you tripping once and splash, yoke all over your precious basket! I put up buy orders for around 1/3 the traded daily volume up there in the cesspit that is Jita. But only if I can't do something more profitable with it.

B) I try to only trade in items with at least 50 units *traded* per day. Keep in mind that the market order tab isn't entirely unambiguous! But, but, but: An easier way to decide what to trade in is: Look at volume=price*traded amount, then look at what mark up you can tack on, then decide what get's you most isk: markup*volume=profit!

C) I don't, at least not to the scale some other people do. I make a habit on not having any stock at all in my hangers, so it's relatively easy to keep track in my head of how I'm doing. When I started I had a trusted Excel sheet, that contained everything I thought I should remember.

D) Depends on : A) size of the buy order B) the number of items sold to me. If it's a decent amount I got lying around, Ill put it up for sale. Don't forget: Stock is isk not moving!


And since in EvE you can set your own goals, you can be proud of everything you achieve!

Athre
Minmatar
The Higher Standard
Posted - 2010.05.13 15:08:00 - [3]
 

Hi,

I did not see any disclaimer in your questions about already reading this MD Question Sticky

clixoras
Posted - 2010.05.14 07:45:00 - [4]
 

For tracking your finances/orders i highly recommend Eve Commander (eve-commander.com).


 

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