End Of The Day
Isk: 16,273,612
Sell Orders: 92,284,197 (16/53)
Buy Orders: 96,019,675 (28/53)
Total Isk: 204,577,484
Skills Queue: Retail 5 (3 days left still) + Astrometrics 3 + Astrometric Rangefinding 2
Time Spent on Eve: 1 hour 45 minutes (4 separate logins)
First things first, I want to try to cover some new method of making money, and I am not sure what to commit to. I could try escrow scamming next, but that would require a lot of things. I would NEED to break one of my rules, and use some of worthless but rare inventory from my war-chest on my main. I sorta do not want to do that, but it would be an interesting project.
I think I might try some ninja salvaging after the weekend. It could be a fun way to piss off some mission runners! Ninja salvaging, for those who do not know, is the act of scanning down a mission runner and salvaging/looting there stuff. This requires a bit of practice and a fast ship. I will keep a detailed time sheet for this mini project, because I want to post exactly how much money a player can average doing this. I will start recording time when I reach the target mission hub, but before I launch even a single scan probe.
Trading wise, I have nothing new to report. I started trading in groups of ten for some items, because the margins suck in Jita on the more expensive things. Basically, what this means is that I take a item with a buy/sell order of 300k/600k, and I put up a buy order up for ten of them, 3 mil isk. Then I try and sell the ten as fast as I can for 600k or 6 mil. This trade would end up with a 3 million profit minus trade fees.
The problem with this kind of group trading is that I have to turn over 10 of one item, and depending on volume that can take a long time. Ideally, it would be better to find one item at 3 million and turn over just one at 6 mil. I found a few of these, but the volume is too slow. I can turn over 10 of the fast moving cheap items faster then one of the 3 million item. Actually, tomorrow will be a lesson in opportunity cost! Stay tuned!
Friday, November 11, 2011
Thursday, November 10, 2011
Day 13 - Baby Sitting Orders
End Of The Day
Isk: 11,898,433
Sell Orders:54,576,701 (16/53)
Buy Orders: 118,946,059 (31/53)
Total Isk: 185,421,193
Skills Queue: Retail 5 (3 days left) + Survey 3 + Salvaging 2 + Acceleration Control 2 + Evasive Maneuvering 2
Time Spent on Eve: 1 hour 25 minutes (5 separate logins)
I started moving into some of the more competitive areas, and now I have to play the .01 isk game with people. The profit is a bit better though; I've made about 35 million isk yesterday! It gives me a chance to catch up on any tv shows that I missed though! One thing to remember while trading is that it can be boring, but addicting. It really is something watching your wallet grow to new heights, but to pass the time you should have something else you can do between updating trade orders, make a pew pew account, watch tv, or even play some other video game!
I also started training a few of the base skills to do some ninja salvaging, but now I have to look up what probing skills I need to find people. It will probably take me about 3 days of training to get all the Astrometric Skills, and I really need to finish up retail 5. I'm down to 6 free trade slots at the moment.
I think that I will work on those skills after I finish up retail 5. Once I get some experience doing it, I will throw together a detailed guide on Isk Watch for anyone that wants to try it themselves. It is going to be very tempting to use an alt to kill anyone that does try and kill me for ninja salvaging their mission. It would be mainly for the kill mails, but I guess that would be against the rules. Stay Tuned.
Isk: 11,898,433
Sell Orders:54,576,701 (16/53)
Buy Orders: 118,946,059 (31/53)
Total Isk: 185,421,193
Skills Queue: Retail 5 (3 days left) + Survey 3 + Salvaging 2 + Acceleration Control 2 + Evasive Maneuvering 2
Time Spent on Eve: 1 hour 25 minutes (5 separate logins)
I started moving into some of the more competitive areas, and now I have to play the .01 isk game with people. The profit is a bit better though; I've made about 35 million isk yesterday! It gives me a chance to catch up on any tv shows that I missed though! One thing to remember while trading is that it can be boring, but addicting. It really is something watching your wallet grow to new heights, but to pass the time you should have something else you can do between updating trade orders, make a pew pew account, watch tv, or even play some other video game!
I also started training a few of the base skills to do some ninja salvaging, but now I have to look up what probing skills I need to find people. It will probably take me about 3 days of training to get all the Astrometric Skills, and I really need to finish up retail 5. I'm down to 6 free trade slots at the moment.
I think that I will work on those skills after I finish up retail 5. Once I get some experience doing it, I will throw together a detailed guide on Isk Watch for anyone that wants to try it themselves. It is going to be very tempting to use an alt to kill anyone that does try and kill me for ninja salvaging their mission. It would be mainly for the kill mails, but I guess that would be against the rules. Stay Tuned.
Wednesday, November 9, 2011
Day 12 - 150 Mil isk Later
End Of The Day
Isk: 1,116,558
Orders:85,349,958 (17/53)
Buy Orders: 67,515,531 (17/53)
Total Isk: 153,982,047
Skills Queue: Retail 5 (3 days left) + Finished Training Refining 3
Time Spent on Eve: 40 Minutes (5 separate logins)
I figure I might cover some other ways to make some isk soon, like ninja salvaging. So I started training some of those skills. Figure it would be a good idea to give a taste of other low skill point methods of making a bit of extra isk.
I finally hit the 150 mil mark after 12 days, which is not to bad. I'm thinking that I need to adjust me strategy a bit. I have been going after high margin trades, but the problem is that I would need to turn over about 20 of them to make a million isk. So while I was making a 1000% return on something, the actual isk earned was not to much.
I am now adjusting my trades to more expensive items with at least a million isk in return. Things like rigs, large weapons, etc. Hopefully, this adjustment will let me start earning a lot more isk faster. I want to hit 200 mil by day 14. Stay tuned.
Isk: 1,116,558
Orders:85,349,958 (17/53)
Buy Orders: 67,515,531 (17/53)
Total Isk: 153,982,047
Skills Queue: Retail 5 (3 days left) + Finished Training Refining 3
Time Spent on Eve: 40 Minutes (5 separate logins)
I figure I might cover some other ways to make some isk soon, like ninja salvaging. So I started training some of those skills. Figure it would be a good idea to give a taste of other low skill point methods of making a bit of extra isk.
I finally hit the 150 mil mark after 12 days, which is not to bad. I'm thinking that I need to adjust me strategy a bit. I have been going after high margin trades, but the problem is that I would need to turn over about 20 of them to make a million isk. So while I was making a 1000% return on something, the actual isk earned was not to much.
I am now adjusting my trades to more expensive items with at least a million isk in return. Things like rigs, large weapons, etc. Hopefully, this adjustment will let me start earning a lot more isk faster. I want to hit 200 mil by day 14. Stay tuned.
Day 13 - Baby Sitting Orders
Tuesday, November 8, 2011
Day 11 - More Isk Making Fun
End Of The Day
Isk: 15,764,521
Sell Orders: 44,880,620 (20/53)
Buy Orders: 70,466,750 (17/53)
Total Isk: 131,093,891
Skills Queue: Retail 5 (5 days left) + Finished Training Broker Relations 3
Time Spent on Eve: 40 Minutes (5 separate logins)
The day was sort of slow, but I ended up buying a few skill books like Broker Relations. This skills helps you keep your trading fees down. The less fees you pay the more isk you can make. A trader without any standing or skills is looking to pay about 2.5% in broker and account fees to turn something around.
The base broker fee is 1%, which you have to pay twice. Once when you are trying to buy an item, and once when you are trying to sell an item. While you are trying to sell an item you have to also have to pay a 1% sales tax. This is why its is important to train broker relations and accounting to 5. These two skills alone helps keep more of the isk you earn in your pocket!
Since I started this project I have spent over 7 million isk on trading fees. Just imagine on much money is going into fees when people are trading with billions of isk. As for the project, I am thinking about possibly moving on into a bit of region trading. I am going to test the waters a bit today, stay tuned!
Isk: 15,764,521
Sell Orders: 44,880,620 (20/53)
Buy Orders: 70,466,750 (17/53)
Total Isk: 131,093,891
Skills Queue: Retail 5 (5 days left) + Finished Training Broker Relations 3
Time Spent on Eve: 40 Minutes (5 separate logins)
The day was sort of slow, but I ended up buying a few skill books like Broker Relations. This skills helps you keep your trading fees down. The less fees you pay the more isk you can make. A trader without any standing or skills is looking to pay about 2.5% in broker and account fees to turn something around.
The base broker fee is 1%, which you have to pay twice. Once when you are trying to buy an item, and once when you are trying to sell an item. While you are trying to sell an item you have to also have to pay a 1% sales tax. This is why its is important to train broker relations and accounting to 5. These two skills alone helps keep more of the isk you earn in your pocket!
Since I started this project I have spent over 7 million isk on trading fees. Just imagine on much money is going into fees when people are trading with billions of isk. As for the project, I am thinking about possibly moving on into a bit of region trading. I am going to test the waters a bit today, stay tuned!
Day 12 - 150 Mil Isk Later
Monday, November 7, 2011
Day 10 - Damn AutoBloggers
End Of The Day
Isk: 25,128,243
Sell Orders: 30,318,785 (11/53)
Buy Orders: 66,706,772 (16/53)
Total Isk: 122,153,800
Skills Queue: Retail 5 (5 days left)
Time Spent on Eve: 30 Minutes (3 separate logins)
This blog has been targeted by auto-blogging software. Auto-bloggers target blogs and pull content from them to steal and claim as their own. The site pulling information from this blog is a damn real money trading site. It is sorta annoying seeing something you do twisted into content for a Russian RMT site, but back to trading.
A lot of my trades are now sorta unprofitable, mainly because the margins shrank into mere pennies on the dollar... err I guess technically, 100k is on the 1 million, but I can't figure out how to make that sound good. One of my best trades was netting me over 700k-800k isk a trade, and today the buy order price rose to meet the sell order price. Meaning, I managed to sell at a profit, but I cannot buy anymore to replace my inventory.
This is one of the nice things about being small. New traders have the advantage of being small and nimble; they can jump on all the great opportunities. They are able to get a higher percentage return on trading opportunities then the big players. Established traders often have isk tided up in assets, and a short term opportunity in an item is not really that exciting or worth it. Established traders are often looking to make passive forms of income, and not jumping on Prototype Cloaking Devices because the profit margin expanded to 200k isk a trade.
I am off for the next three day, and I will finally have some time to trade, hopefully. I have adjusted my strategy over the past week to target slow moving high volume items, since I would not have time to try and turn over something repeatedly. It has been working out pretty well obviously, but we are only 1/10th of the way to a billion isk. Stay tuned!
Isk: 25,128,243
Sell Orders: 30,318,785 (11/53)
Buy Orders: 66,706,772 (16/53)
Total Isk: 122,153,800
Skills Queue: Retail 5 (5 days left)
Time Spent on Eve: 30 Minutes (3 separate logins)
This blog has been targeted by auto-blogging software. Auto-bloggers target blogs and pull content from them to steal and claim as their own. The site pulling information from this blog is a damn real money trading site. It is sorta annoying seeing something you do twisted into content for a Russian RMT site, but back to trading.
A lot of my trades are now sorta unprofitable, mainly because the margins shrank into mere pennies on the dollar... err I guess technically, 100k is on the 1 million, but I can't figure out how to make that sound good. One of my best trades was netting me over 700k-800k isk a trade, and today the buy order price rose to meet the sell order price. Meaning, I managed to sell at a profit, but I cannot buy anymore to replace my inventory.
This is one of the nice things about being small. New traders have the advantage of being small and nimble; they can jump on all the great opportunities. They are able to get a higher percentage return on trading opportunities then the big players. Established traders often have isk tided up in assets, and a short term opportunity in an item is not really that exciting or worth it. Established traders are often looking to make passive forms of income, and not jumping on Prototype Cloaking Devices because the profit margin expanded to 200k isk a trade.
I am off for the next three day, and I will finally have some time to trade, hopefully. I have adjusted my strategy over the past week to target slow moving high volume items, since I would not have time to try and turn over something repeatedly. It has been working out pretty well obviously, but we are only 1/10th of the way to a billion isk. Stay tuned!
Day 11 - More Isk Making Fun
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.
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
Saturday, November 5, 2011
Day 8 - 20 Mil Short of Goal
End Of The Day
Isk: 13,133,568
Sell Orders: 23,749,340 (24/53)
Buy Orders: 45,235,623 (8/53)
Total Isk: 82,118,531
Skills Queue: Retail 5 (7 days left omg)
Time Spent on Eve: 58 Minutes (3 separate logins)
I spent a little bit of time after down just baby sitting my trade orders in Jita. Jita does have a lot of competition and sometimes it makes it annoying to try and turn a profit there. I'm not exactly where I wanted to be after the first week because of my lack of play time due to unexpected overtime at work, and my addiction to other video games which shall remained unnamed.....ok its Minecraft...
I was hoping to be at around 100 million isk by now, but logging in three times a day to update orders is just not enough. I would ideally want to log in every half hour or so to update trade orders, but I cant really scrounge enough free time. Still, I'm only 20 million isk away from my goal and my weekend starts Monday (weird work schedule).
Trading wise I have expanded to other modules, but weapons are still my most profitable. I am still in Jita, but I am thinking about possibly switching to region trading in a week or two. Mainly, so I can give everyone a example of a different kind of trading. Stay Tuned. Any questions just comment below.
Isk: 13,133,568
Sell Orders: 23,749,340 (24/53)
Buy Orders: 45,235,623 (8/53)
Total Isk: 82,118,531
Skills Queue: Retail 5 (7 days left omg)
Time Spent on Eve: 58 Minutes (3 separate logins)
I spent a little bit of time after down just baby sitting my trade orders in Jita. Jita does have a lot of competition and sometimes it makes it annoying to try and turn a profit there. I'm not exactly where I wanted to be after the first week because of my lack of play time due to unexpected overtime at work, and my addiction to other video games which shall remained unnamed.....ok its Minecraft...
I was hoping to be at around 100 million isk by now, but logging in three times a day to update orders is just not enough. I would ideally want to log in every half hour or so to update trade orders, but I cant really scrounge enough free time. Still, I'm only 20 million isk away from my goal and my weekend starts Monday (weird work schedule).
Trading wise I have expanded to other modules, but weapons are still my most profitable. I am still in Jita, but I am thinking about possibly switching to region trading in a week or two. Mainly, so I can give everyone a example of a different kind of trading. Stay Tuned. Any questions just comment below.
Day 9 - Mistakes Happen
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