Can someone help with the basic concepts? Here’s where I am…
I’m looking at buy orders, to see if there’s a gain flipping them to sell orders. Is that the wrong way to think about station trading?
If so, what’s a more right way? For instance are you trying to find a future price that will be profitable? So you buy now and wait for it to rise in value?
This seems a daunting challenge to get into.
It’s the long game that’s for sure…IMO it’s not worth it as you’re talking weeks if not months before prices rise again…the ROI vs time is pretty bad especially if you are a market person to begin with. If you’re a PvP and this is secondary then maybe but even then, there are easier ways…
Buy low, Sell high.
Set up remote Buy Orders set to 1 Jump in the lowest tax player Citadel. (All major trade hubs have one). Set up Sell Orders in the station.
Try playing the 0.01 isk game for like a week until you realize how much of your life you’re wasting by doing it and then stop.
Set up long term buy orders so that the ebb and flow of the market fills your orders over time.
Expect to have a good chunk of your ISK tied at any given point.
Train Margin Trading because that’ll allow you to set up significantly more Buy Orders than you would normally be able to.
This is the first interesting point you made.
The others are pretty well beat to death.
But HOW do you start to consider what the “ebb and flow” really is? Or is it really just as simple as looking at the price history and finding troughs and crests?
yes it is
This also is pretty sensible.
I guess the problem is that Station trading, or any real trading, is just so damn intuitive that it’s really hard to get a clear picture of what it really is.
It’s not engineering problems where you can look at your angles and make sure they are correct…or that your processes are efficient.
There’s something intangible to trading and I’m not sure why it’s not clicking.
Because you’re making a mountain out of a molehole.
It’s really that simple.
^^^^^
That
The bottom line is this; Make ISK as fast as possible. If you’re doing/thinking something differently then you are not trading correctly.
There is a paradox too: Have as little ISK in the bank as possible as you want to have as much invested as you can…but you also want to get your return as fast as possible and back in the bank…it’s a vicious little circle…
Well damnit is there a short trade somewhere to test and get feet wet? What are some stuff that don’t look like they take a month to move?
For instance Robotics, that market is interesting right now, just went from a steady 3month run of about ~92,000, to peak in a week at ~98,000, then crashed to as low as 89,000 just today.
It’s probable real value is ~92,000 based on extensive production experience in that market.
But it took 3 months to do ANYTHING interesting.
What doesn’t take that long?
No, there isn’t.
No one is going to give you this information for free. Do your own research.
Yeah, welcome to the market. It’s a long game.
yeah so if the method is simple, then what’s something quick? Not max profit. I just mean something boring, but fast paced. Many small variations that can demonstrate the method so I can actually do it hands-on?
Anything I find looks like it doesn’t clear the tax-margins within a week…
But there’s SO MUCH items to look through, so don’t even know where to begin.
Like Fuel blocks look about as “efficient” as it can get, and has no room for trading? And seems to have stayed there for a year?
As Scoots mentioned, place a Buy order and then flip it…I suggest mid range ships. items…in the 10-20M range. It’s very easy to make 10-20% on that with little effort…
Would you chock this up to EVE’s markets being just too efficient for short perturbations?
Nope.
I would say it’s because you’re just starting out and don’t know anything about the market.
But over what kind of time frame so I know if I’m doing it well?
12 hours easy if you keep an eye on it…
This is the other issue (also as Scoots mentioned): the more you babysit your orders that more you will make…that’s up to you if you want a 2nd job playing the 0.01 game
For 0.01 ISK daytrading you want to find the items with max. in this formula:
Volume x price x margin.
Can also simplify as:
Volume x ISK margin.
For cyclical (longer-time) trading the formula is:
Volume x price x expected variation in price.
Or simply:
Volume x expected variation (ISK).
And you can add another factor to look for: as few competitors as possible, since the relation between volume and competition is not always 1:1.
You have to change your mindset to be a true trader. You are essentially creating the market for whatever item you are buying and selling.
Train the skills for trade, then mess around with small amounts of isk like 5 to 10 mil. Buy in jita or peri, set buy order to about 30 percent below yearly average, resale for about 20 to 30 above yearly average depends on sale location and market volume plus your need for isk…
test contracts, and trade channels, bpo chan etc.
test region buy orders vs a few jumps.
learn the different types of trading, high sec, low sec, null sec, wh at thera etc. different items return different amounts based on location, null being extremely profitable etc.
for different items learn to read the graphs and chart pages, tjere is alot of data there and it is very helpful.
profits sometimes take time and sometimes not.
trade slots amd time are worth what you + the other involved party agree to price wise, you would be surprised how much some people are willing to spend…$$$$$
Thats all i will say for now.
o7
0.02 I swear reduces the amount of times i have to check…I think because automated orders will sense a 0.01 but not a 0.02, so it doesn’t pass a check. Highly speculative though.
I just noticed that when I was 0.01’ing it would often need to be upkept constantly.
0.02, I adjust like once or 2x a day…
This isn’t a thing. Don’t trick yourself into thinking it is.