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blankseplocked How exactly do you make a killing in the market?
 
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kppowell
Posted - 2010.12.07 02:05:00 - [1]
 

To start, yes, I know that nobody is going to share their big secret(s) how to turn isk into more isk in the market, that's not quite what I'm asking. I've been missioning for a while and I want another source of income, but so far the only way I can conceivably turn a profit in the market (highsec) is to jump around regions looking for low-priced selling items like ammo and ore, buy it, then haul it to a place that is buying higher. However I haven't been able to net a profit that is anything worth bragging over.
I do love the idea of trading though, I just dont really know where/how to start? Any advice would be much appreciated! thanks

Tekota
The Freighter Factory
Posted - 2010.12.07 02:23:00 - [2]
 

Edited by: Tekota on 07/12/2010 02:31:15
In short, doing what you're doing - with practice, and not a little luck, you begin to get a feel for why those regional variations occur, why price fluctuations occur and what sort of events would have effects on those prices. Then you can begin to predict those variations and buy up or sell off in advance of them.

Other options are to ride other people's manipulation attempts; when you get a feel for a given subset of the market you get to recognise normal and abnormal activity within it - you also get a feel for who big players in that market are. When you notice that a price has been artificially shifted you are ideally placed to swoop in with your own stock, or dump your stock at some other hub.

Then of course there's the option to create that manipulation yourself - I'll not go further on that one suffice to say it's best left till you've witnessed and ridden the wave of a few created by others first, potentially big rewards and potentially big risks.

edited for more stuff(tm):
Concentrate on a subset of the market - you cannot (really *ever*) expect to get an indepth feel for every item on the market.
Try station trading - if the gap between the buy order price and the sell order price is bigger than 3% there's profit to be made (1% for buy order broker fee, 1% for sell order broker fee, 1% for sales tax - obviously these percentages can be reduced even further with skills and standings). Beware though - if the commodity is in a long term slide then by the time you've bought your items the sale price will have slipped and your margin with it, possibly into the negative. Whilst this trading method won't really be any more profitable than inter-region hauling the ease and speed with which it can be done mean you can spread sideways into as many products as you have order slots, all running concurrently. A 5% margin on one item hauled across regions won't make much - a 4% margin on a hundred items in the same station however...

Samantha Dhal
Posted - 2010.12.07 02:25:00 - [3]
 

The key is patients and volume.

Learn to sit on things, put in long term buy orders and long term sell orders, but most of all it's not what you move it's how much and margin per m3.

Fleshbot
Posted - 2010.12.07 02:29:00 - [4]
 

I can predict most of your answers will be of the "buy low, sell high" variety and this is correct.

Firstly, you'll need some trade skills, so look at those, specifically:
Trader
Broker Relations
Accounting

Next, find a trade hub. This where you will do your buying and selling.

Then start looking at meta three and meta four items. Start with modules you use now. Check to see what the spread is for buying them and selling them, when you find a good spread with a decent volume (check the price history tab on the market window), set some buy orders and when they are filled, sell them using sell orders.

3) Profit.

Manufacturing might also be to your fancy but it is more skill intensive, requires more start up capital, and in my opinion, less profitable.

Mining as far as I am concerned this the same as missioning but pays back even less.

Good luck!

kppowell
Posted - 2010.12.07 02:31:00 - [5]
 

I've always wondered, lets take Coolant for instance, usually selling for around 6,700-7000isk, highest buyer is a few hundred under that but there is always a few large volume buyers who buy for 5000. How often do buy orders like that get filled? Do people really say ah what the hell, and sell it off just for convenience?

Kanatta Jing
Posted - 2010.12.07 02:54:00 - [6]
 

Well if I had all my money wrapped up in sell orders for coolant and I had to refresh my buy orders for Electrolytes and Water in say... Essence in order to continue business and the buy orders for coolant where within my "limit of acceptable profit" I would of course fill the buy order.

heheheh
Phoenix Club
Posted - 2010.12.07 03:05:00 - [7]
 

Originally by: kppowell
I've always wondered, lets take Coolant for instance, usually selling for around 6,700-7000isk, highest buyer is a few hundred under that but there is always a few large volume buyers who buy for 5000. How often do buy orders like that get filled? Do people really say ah what the hell, and sell it off just for convenience?


Alot of people, myself included, will sell stuff that dropped into our laps Wink to buy orders just to get rid of it quickly.

Daeva Vios
Posted - 2010.12.07 03:25:00 - [8]
 

What you do depends upon the circumstances. I've traveled for profit opportunities, mostly war profiteering and to take advantage of one-off opportunities my non-trader friends have brought to my attention, but 95% of my trading activity is limited to one station in one system.

Set a buy order. When it fills, turn around and set a sell order. If you've got the brain capacity of your average dachshund, you'll make money.

Block Ukx
Forge Laboratories
Posted - 2010.12.07 03:40:00 - [9]
 



For the next several weeks, you can re-list Battleships and make a nice profit. Offcourse, you need ISK to pull it.



Tekota
The Freighter Factory
Posted - 2010.12.07 03:44:00 - [10]
 

Originally by: Block Ukx

For the next several weeks, you can re-list Battleships and make a nice profit. Offcourse, you need ISK to pull it.



Reminder to the person (I know who you are, you know who you are) who tried this with Domi's a little while back - don't put your entire stock of recently purchased battleships in one big sell order then chase down the 5 unit sell order all the way back down to the beginning price :D

Masamune Kuroda
Caldari
Cerberus Incorporated
Posted - 2010.12.07 08:31:00 - [11]
 

Personally, I favour shotguns.

Ulstan
Posted - 2010.12.07 14:54:00 - [12]
 

Best thing you can do is invest in player run banks.

Caldariftw123
Posted - 2010.12.07 15:10:00 - [13]
 

Originally by: Tekota
Originally by: Block Ukx

For the next several weeks, you can re-list Battleships and make a nice profit. Offcourse, you need ISK to pull it.



Reminder to the person (I know who you are, you know who you are) who tried this with Domi's a little while back - don't put your entire stock of recently purchased battleships in one big sell order then chase down the 5 unit sell order all the way back down to the beginning price :D


Lol I watched some guy do this the other day, he had a big order at a high price, he gets undercut 1isk so he undercuts by a few houndred thousand .. he brings his price right back down to below where it was the day before! Some people really make me scratch my head and think "what a daft bagger!"

Corcyrus Endymion
Caldari
Elder Tribes
Posted - 2010.12.07 16:06:00 - [14]
 

Edited by: Corcyrus Endymion on 07/12/2010 16:07:16
Originally by: Tekota
Originally by: Block Ukx

For the next several weeks, you can re-list Battleships and make a nice profit. Offcourse, you need ISK to pull it.



Reminder to the person (I know who you are, you know who you are) who tried this with Domi's a little while back - don't put your entire stock of recently purchased battleships in one big sell order then chase down the 5 unit sell order all the way back down to the beginning price :D



This is why I love EvE. What a single person does, actually gets noted by another totally unrelated person :)

Bridgette Satellizer
Posted - 2010.12.07 16:23:00 - [15]
 

Edited by: Bridgette Satellizer on 07/12/2010 16:24:01
Big Resource Sticky on top of the thread.
Trust me, most of what these blokes do are in there. and yes that thread will earn you billions.
You'll learn of the other ones as you venture deeper into the marketing world.

heres the linky if you're too lazy:
Billion worth thread

Enduros
Desard's Nation
Cha0s Theory
Posted - 2010.12.07 18:03:00 - [16]
 

Sell drakes and fittings near 0.0 warzones.


 

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