Sunday, November 6, 2011

Day 9 - Mistakes Happen

End Of The Day
Isk: 7,044,110
Sell Orders: 36,553,050 (20/53)
Buy Orders:  54,297,905 (11/53)
Total Isk: 97,895,065
Skills Queue: Retail 5 (6 days left)
Time Spent on Eve: 24 Minutes (3 separate logins)

A important and possibly overlooked rule while trading is not to do it when your extremely tired.  I made a nice profit off of some weapons, about 5 million, and then proceeded to loose it all.  While putting up a new buy order for the same item, I put in the sell order price instead.  This made me instantly buy back the same amount of weapons I just sold.

This means instead of having a nice profit, I ended up loosing about 1-2 million isk to do taxs and stuff.  Be sure what you are doing, and double check everything.  I lost 4-5 billion isk a year ago because I accidentally added an extra 0 to an isotope purchase.  The extra 0 changed the price from a 400 mil buy order to a 4 bil buy order, way over priced.  Needless to say, I probably made a lot of people very happy.

Mistakes like this happen all the time.  Just last month someone sold me a ship in Jita for 200 mil when my buy order was at 800 mil.  It is important to stay vigilant while trading,  Complacency breeds mistakes, but as time goes on generally speaking you become a lot better at catching your own mistakes.

Trading wise I am still doing exactly the same stuff as before.  I expanded a little to cover some other ship modules, but weapons are still my major profit maker.  I only have one more day at work before my weekend, and then I'll try and do some serious trading.  Stay Tuned.

Day 10 - Damn Autobloggers

1 comment:

  1. I made the mistake yesterday of buying some items at face value cause I saw a buy order making a great profit...but what I didn't see was that there was a minimum of 12,000,000 to get that price, so I had to sell back at a small loss. Lesson learned! Trading is fun though, created an alt trial account just to experiment before I start sinking big money in with my main account.