Friday, November 4, 2011

Day 7 - Trading Questions Answered

End Of The Day
Isk: 4,892,157
Sell Orders: 31,553,524 (24/53)
Buy Orders:  23,009,536 (8/53)
Total Isk: 59,455,217
Skills Queue: Retail 5
Time Spent on Eve: 18 Minutes (3 separate logins)

Today sucked.  I was feeling sorta sick and lazy.  I only logged onto Eve-Online three times, and it killed my profits for today.  I ended up playing Eve-Online once in the morning after my day 6 post and then 3-4 pm, and then finally at 7-8 pm before work. 

The market sorta sucked today.  The price of a few of the things I traded in fell by almost 100,000 isk per item.  I am still in the green on everything, but the way I calculate profits for the blog is that I take the total for everything up for sale and give it as the Sell Orders figure.  This means that yesterdays total isk of 51 mil was devalued because the price of the sell orders was over priced.  This is just another example of markets volatility.

Questions and Answers
I answered all the questioned I had so far in comments, but I figured it cant hurt to repost some of them.  If their are anymore just keep them coming! Question and Answers:

Question: Alberthus99999 asked: "Do you just chose random weapons parts to sell, or since you are a veteran player you know what kind of weapons sell well?"
Answer:  Actually, that is a hard question to awnser. I guess since I know what I am doing I go to the stuff that is likely to have a nice profit margin, but I do look at everything. While looking at trades, I have clicked on single weapon looking at margins and volume.

Question: Alberthus99999 asked: "How do you know the margins you getting does it appear at market details?"
Answer: No, you have to figure out the profit margins yourself. Simply put, a profit margin is the difference between the highest priced buy order and the lowest priced sell order.

Question: Jason asked:  "With so many items on the market, where does one even start!?"
Answer: Start SMALL! Find one profitable trade, and expand till you reach a point where your happy.  One day it might reach the point where you have 4 accounts full of trade alts!  Simply pick a trade hub or region, and pick a category, say smartbombs.  Go through all the smartbombs and look at profit margin and volume, and put up any buy orders you feel are worth it.  Then when your comfortable go through another group and another.  Generally, the more items you trade in the more isk you can make, just dont overwhelm yourself.

Day 8 -  20 Mil Short of Goal


  1. First of all thanks for answering my questions, and explaining better how it all works.

    Yesterday, I looked in more detail at the Market, I am still studding it, but decided to try to sell a weapon part, but now after your answer I understand a little better now.

    The concept we need to master is the obvious one, buy cheap and sell whit a profit, the hard part is to know the market, what sell better and what does not. But whit time we get there.

    I just have one more question, the main trade hubs are open to all races?

    Or is it faction or race specific ?

    And keep up the good work there.

  2. Thank you as well for taking time to answer questions. It's slowly starting to seep into the ol cranium.

    The hardest concept to grasp for me was the fact of being the highest bid order, and then the lowest sell order. I get it now, but I had previously always looked for sell orders lower then the buy orders.

    I now am up to 29 sell orders and a couple buy orders (most of the sells are for loot) and the buys are to learn by practice. Keep up the great work, I look forward to reading this blog daily so follow progress.

  3. 1.) Trade hubs are open to all races, but your standings have an effect on your broker fee. Every player starts with neutral standing towards everyone, regardless of race. As you do missions your faction standing will go up with two factions and down with the other two.

    2.) Yeah, people get confused and think trading is buying something of a sell order then hauling it to a buy order to sell it. It used to work with certain NPC seeded goods, but that is not around anymore. Trading is putting up a buy order and then re-listing it somewhere for more.

  4. Nice point there the 2 one, that explains a lot.
    But I was luck yesterday, buy a weapon for 480k and was able to sell if for 580k, but have to see the cut the market fee was.

    The strange think is I see a lot of buy orders for item X from 100 to 1000000, how is there such a big difference ?

  5. I'm not sure I get what you guys are saying about trading versus buying and selling.

    Let's say something sells for 100K (lowest selling price) and there are bids up to 50K (highest). I could buy the item for 100K and sell it for....50? I don't think I get it.

    Are you saying I put up a bid saying 51K and a selling offer saying 99K?

  6. That sucks! It isk eve is the main reason behind the move to a different area of space where I am sure I can make more isk. Trading like everything in Eve is dependent on the amount of time that a person can put into it. It is more dependent on logging in over the course of the day then sitting down and grinding missions. We still should be able to make a billion isk eve online isk for sale by the end of the 51 days! Stay Tuned!