Trading has always been good to me. I've managed to make some significant money off trading, and have always recommended it as a great money maker for others. However, most traders are very unwilling to share what items they are trading, for fear of destroying their own market.
Most successful market traders I know in the UNI are trading hundreds of millions or billions in items each day. This is also a different beast than players just starting out and trying to learn how to trade.
To help new traders, I'd like to propose an idea for all the veteran traders out there.
1. Create an alt trader (could even be trial account)
2. Give that alt trader 20m (not a bad sum for a new player to raise through other means).
3. Actively trade for 1 week.
4. As you trade, take notes on which items you are trading, and why you chose that item.
5. Publish your results to the Eve forums. List your transaction log for that alt for the week, along with your notes about why you chose the items you did.
This will give new players a unique insight into how beginning traders should approach the market. Since it is on a significantly smaller scale that what you normally trade, the traded items will likely be very different. This means you can share your thinking and items without destroying your own markets. If several people do it, new students will be able to compare several different viewpoints on how to approach trading at low isk levels.
Do you think this is a decent idea? Who is willing to participate and share their alt's logs and items for a week? If the idea gets some following, we could even have trading contests where people use a new alt and a small amount of seed money, trade for a set amount of time, share market logs, and compare results. Best trader wins isk.
While I really want to help young traders, I'd be trading about the same stuff I've been doing when I only had 20mil - just in far larger scale.
ReplyDeleteOkay, I'm now also trading in PLEXes, which wasn't possible back then, but other than that, I've "unfortunately" only extended my business.
And being the greedy trader I am, one is usually a bit reluctant to give away the stuff one's trading in. Just so you don't attract additional attention on that item class :/
Since I'm not really a trader on any great scale, I think this would be great. How many would actually give those "secrets" though is a tough thing to know, since Toran pointed out they may still use those products. With my limited experience, I tried to give a few tips in my trading primer to start with things like ammo or implants, but I could be wrong. Whatever you can move in bulk will work best.
ReplyDeleteI'm in the range of ~2bil profit per month, wich means I'm moving several hundred millions up to 1-2bil worth of stuff per day (depending on how/what I'm doing and how much I play).
ReplyDeleteI'm not one of the biggest traders at all, and I don't claim I'm doing the most profitable stuff - I could probably imagine trying to create that 20mil-alt with probably less lucrative stuff.
After all, the greatest art is finding your profitable niche, the rest is just patience/"work".
You may need to put this on the uni forums to get a few traders who're willing to share some secrets - but this would be a great idea.
ReplyDeleteI've attended lots of trading classes, and read lots of guides, and still I can't work out for the life of me how anyone can make huge profits out of it. How any person could turn 1m into 100m in a month, or 10m into 1b in a couple of months.
-Shandir
I actually just started a trading alt and plopped him down in Jita with 15mil. Thats all he does. So far hes up to around 25mil (3 days). I would be more than happy to talk about after, though I'm not sure it'd be terribly exciting. I don't micro my buy/sell orders and update only three or four times a day.
ReplyDeleteAlso I'm a 3 week old player.
-Phyro Xi