Trade 101: Introduction to Trading
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- 1 Class Information
- 2 Class Contents
This is a syllabus for a class provided by EVE University. This section contains information about this class and its contents. General Information includes materials to create a proper class listing on the EVE University forum. Additional resources and teaching tips are listed under Notes for the Teacher.
Sample text to use in the class advertisement:
[center][size=200][color=#FFFF00]TRADE101: Introduction to Trading[/color][/size] [img][/img] [size=50]Image used from [url]http://www.flickr.com/photos/[email protected]/422326914/[/url] under the CC BY-NC-ND 2.0 license[/size][/center] Learn the tools within EVE for trading ISK for items, and items for ISK! We will particularly focus on the Market window and parts of the Wallet window. [i]Note well: this class is not intended to teach any kind of trading tactics, simply the user interface.[/i] [color=#FFFF00]When[/color]: TIME GOES HERE [color=#FFFF00]Where[/color]: Docked up in a station. Market examples will come from the Metropolis region. For the optional practical, be docked up in Stacmon V - Moon 9 - Federation Navy Assembly Plant. [color=#FFFF00]Duration[/color]: 90 minutes including practical [color=#FFFF00]Class contents[/color]: [list][*]Direct Trading [*]Contracts (at 20,000 feet) [*] The Market [*] The Wallet [*]Skills related to market orders and to trade transactional costs[/list] [color=#FFFF00]Student requirements[/color]: [list][*]Mumble registration and access - make sure you have Mumble sorted out and operational well before the class begins. Use this guide for set-up: [url]http://eveuni.org/publicmumble[/url] [*]Access to the Lecture.E-UNI in-game chat channel[/list] [color=#FFFF00]Additional information[/color]: Be docked up in Stacmon V - Moon 9 - Federation Navy Assembly Plant if you would like to participate in the practical. :?: Feel free to ask any questions about the class--or if you have particular technical questions about trading that you would like to see covered.
Illustration link for class description on the Eve University forum: http://wiki.eveuniversity.org/File:Trade101.jpg
Learn the tools within EVE for trading ISK for items, and items for ISK! In particular, this class focuses on the Market window and parts of the Wallet window. This class is not intended to teach any kind of trading tactics, simply the UI.
- Duration: 60 minutes, plus an additional 30 minutes for the optional practical exercise
- Location: Docked up safely in Stacmon V - Moon 9 - Federation Navy Assembly Plant
- Direct Trading
- Contracts (at 20,000 feet)
- The Market
- The Wallet
- Skills related to market orders and to trade transactional costs[/list]
- Optional practical
- Mumble registration and access - make sure you have Mumble sorted out and operational well before the class begins. Use this guide for set-up.
- Access to the Class.E-UNI in-game chat channel
- Docked in Stacmon if you wish to participate in the practical
Additional information: This class is primarily lecture delivered in the Class.E-UNI channel in Mumble, followed by Q&A. An optional practical exercise follows.
Notes for the Teacher
- Class.E-UNI chat channel, to receive questions and post relevant links
- Be docked up in PTS for the practical. Ideally have a bunch of stacks of whatever you want to direct trade, e.g. stacks of 5 Quafe
- Strongly consider combining this class with TRADE102. TRADE101 is necessary to understand TRADE102, and TRADE102 is more compelling than TRADE101.
Welcome to this class on the mechanics of trading within EVE!
This course is designed primarily for capsuleers who want to learn more about how to exchange items for ISK--especially the market window. This class does not cover trading strategy; it covers how to create and review contracts, how to direct trade, how to place buy and sell orders and use the Market window, and how to review orders using the Wallet window.
Throughout this class we will use examples from the Metropolis region's market window.
There will be an optional practical exercise for anyone interested who is docked up in Stacmon.
Over the 60 minutes or so, we shall cover direct trading, contracts (at 20,000 feet), the market, the wallet, selected trade skills, and then an optional practical to use what we learn.
(Instructor should then introduce himself or herself - covering relevant experience level and background.)
We have a few ground rules for this class:
- Please put your Mumble settings on "Push to Talk" if you have not already done so.
- Feel free to type any questions in the Class.E-UNI chat channel as we proceed - I will try to answer your questions as they come during the class.
- You should be docked up safely in a station--in Stacmon PTS if you intend to participate in the practical exercise.
Everyone ready? OK, then - let's begin....
Direct trading is simple enough: you exchange items and/or ISK with exactly one capsuleer. You and the other party must be at the same station.
- Starting the trade
- Adding ISK
- Adding items
- Direct trading is dangerous; use it with trusted parties only. For untrusted parties, instead use contracts.
Here's a 20,000 foot overview of contracts:
- The contract window
- Creating a contract
- Contract types: item exchange, auction, courier
- Contract audiences: public, private, corporate, alliance
- Contracts Can Be Tricky
- Selling one PLEX (but you must also give them a PLEX)
- A Scam where you buy from a "cheap" contract for that 1 insane buy order on the Market
- Prices are off, hoping for human error while reading
- Some items can be traded in contracts but not the market, notably blueprint copies
- Uncheck the filters
- Check "mark my orders"
- Can show all the market orders for one region
- Take some time to explain how capsuleers can find prices from other systems using popular market sites such as; https://www.eve-central.com/ , http://eve-marketdata.com/ , http://null-sec.com/tycoon/ .
- Buy and sell orders exist
- Some are seeded by NPCs, but most are from other players (365 vs 90 days)
- Buy and sell orders exist
- Finding stuff
- Range Filter
- "Show Only Available" This needs some examples/explanation--confusing to people how/when range filter and this box interact
- By item type
- From an item
- right-click & "View market details"
- (you can also right-click & "Find in contracts")
- Details tab
- Sorting the buy and sell orders, e.g.
- By distance
- By price (use this one)
- Green = buy orders available, Blue = your orders (if option checked in settings), yellow = stations in your route
- Sorting the buy and sell orders, e.g.
- Instant buy/sell transactions vs. orders
- Other players (and sometimes NPCs) have placed standing buy/sell orders
- Instant sales/purchases use these standing buy/sell orders
- Instant buy/sell orders do not appear to have broker fees
- Wherever the item is sold, is where the item will be.
- Placing a sell order
- Put the item in your main item hangar
- Maybe first "view market details" (not required but helpful)
- Right-click & "sell this item"
- Note the "Advanced >>>" button in the lower-right
- Ask price
- We will not address the advanced option: remote trading i.e. changing the station
- You can instead click the magnifying glass to see the market
- Optional "remember settings" checkbox: remembers duration and maybe other stuff
- Placing a buy order
- Go to the market details for the item
- Click "place buy order" button at the bottom
- Only significant difference from sell orders is that you can set a minimum quantity and a range
- When you buy something, you always buy it from the station where it's sold
- If the buy order is greater than or equal to the lowest sell order, the lowest sell order will get the amount typed in the box.
- Modify an order by right-clicking it
- If the amount you typed in the box "hits" a buy or sell order then it will be filled instantly for the price you put in the box. (TODO: Clarify this probably with an image.)
- Price history tab
- Graph view
- Data view
- My Orders
- Buying and selling
- Covers ALL your orders in ALL regions
- Here you can cancel orders
- Note you can sort and resize
- Extremely helpful info at the bottom--notably orders remaining
- Quick bar
- You can drag fits from the "fitting management" window into the quick bar
- Top-level tabs: My Wallet, Corporation Wallet, Settings
- Settings: control the blinking
- Under "My Wallet":
- Journal (note this exists)
- Shares (ignore this for the purposes of this class)
- Click "Load"
- Now see filter options
- Click "Load" again
- Orders tab
- Same as "My Orders" in the Market except for the big ol' ISK balance
This is not a complete list! (It does not cover margin trading.)
Order quantity skills
Note on the orders tab the "max open orders."
- Trade - the base trade skill that is the prerequisite for other skills / also increases market orders by 4 per skill level
- Retail - increases market orders by 8 per skill level
- Wholesale - increases market orders by 16 per skill level
- Tycoon - increases market orders by 32 per skill level
Remote trading skills
- Skills: Procurement, Day Trading, Marketing, Visibility
The level of the skill determines the maximum distance:
- Level 1: system
- Level 2: 5 jumps from current location
- Level 3: 10 jumps from current location
- Level 4: 20 jumps from current location
- Level 5: whole region
New as of the Citadel patch. announced on Fan Fest 2016:
- 5% Broker fee, reduced to 3.5% with max skill and Standings - paid to structure owner
- 2.5% transaction tax, reduced to 1.25% with max skills
a temporary transistion tax rate, will be increased to above rates:
- 3% Broker fee, reduced to 2% with max skill and Standings - paid to structure owner
- 2% transaction tax, reduced to 1% with max skills
Once extra tools are in place (like contracts) CCP plans to increase taxes again
- Broker Relations - reduces broker fees 5% per level, reducing them from 1% untrained to 0.75% at level 5
The broker's fee is also modified by faction and corp faction. Don't worry about this too much, the orders tab calculates this for you. The complete formula to calculate broker's fee is:
Broker Fee % = (1.000 % – 0.050 % × Skill) / e ^ (0.1000 × Faction + 0.04000 × Corp)
- Accounting - reduces sales tax by 10% per level, reducing it from 2.5% untrained to 0.5% at level 5
- Sales tax is paid only by the seller
How sales tax and brokers fee interact
Since it may be unclear how sales tax and brokers fee interact, a short explanation will be given.
For a buy order the total price for a buy order = price * (1 + brokers fee %)
E.g. 1000 * (1.01) = 1010 (with 1% brokers fee)
For sell orders the total price for a sales order = price - (price * sales tax %) - (price * brokers fee %)
E.g. 1000 - (1000*0.01=10)-(1000*0.01=10) = 980 (with brokers fee and sales tax both at 1%)
This means that brokers fee and sales tax do not interact with each other to stack.
- Thanks for attending this class!
- I would appreciate any feedback from people on how to improve the class
- Questions ?
It worked very well to purchase 100 units of Quafe & distribute it.
- Direct trade and placing buy and sell orders
- Distribute an item to each capsuleer via direct trade, ideally an item that is not traded much
- Have them place sell orders in Stacmon for whatever amount they want
- Have them place buy orders in Stacmon for the same item
- Have them modify an existing order (note 5 minute timeout)
- Optionally, fill the orders by buying the Quafe
- Have them cancel the orders