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I'll start by admitting that I'm an EVE newbie. Adding up all my trial accounts plus current characters, I've earned maybe 4M SP in my life. I am trading in lots of items that I've never used, and that would take me weeks of training to be able to use. Some of my goods I don't even know what they're useful for; I only know that they make me sweet, sweet isk. Despite my relative naivete with EVE, after about two months of trading on my market alt, I'm well on my way to being a billionaire. I have no sugar-daddies, and I've never bought a PLEX. | I'll start by admitting that I'm an EVE newbie. Adding up all my trial accounts plus current characters, I've earned maybe 4M SP in my life. I am trading in lots of items that I've never used, and that would take me weeks of training to be able to use. Some of my goods I don't even know what they're useful for; I only know that they make me sweet, sweet isk. Despite my relative naivete with EVE, after about two months of trading on my market alt, I'm well on my way to being a billionaire. I have no sugar-daddies, and I've never bought a PLEX. | ||
It's a nice feeling to know that your main character will have an ample supply of isk for whatever escapades he/she desires. What's more, this stuff is easy and not terribly time-consuming. I am simply baffled when I see people complaining about not being able to earn funds. So, this posting is a "thank-you" for all the free advice I've received in E-UNI channels. It is mostly geared towards newer traders. | It's a nice feeling to know that your main character will have an ample supply of isk for whatever escapades he/she desires. What's more, this stuff is easy and not terribly time-consuming. I am simply baffled when I see people complaining about not being able to earn funds. So, this posting is a "thank-you" for all the free advice I've received in E-UNI channels. It is mostly geared towards newer traders. | ||
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=Location Research= | =Location Research= | ||
The next step is to pick a region to focus your activities in. You want a region that has a healthy, active market, with a nice defined market hub. You don't want a ghost-town region, but you also probably don't want the shark-infested waters of Jita. Find something in-between. Profit margins will be higher in quieter regions, but volume will be lower. Experiment to find the sweet spot. Once you pick your region, research it extensively to find out its intricacies. You need to learn where goods enter the market, and where goods are liquidated. This is highly correlated with the location of the large mission hubs in the region. Use the statistics feature of your star map to research this (look at # of pilots currently docked, #of pilots in space, #of pirates killed, etc). You will get a better feel for the inflows and outflows of your region as you begin to trade. Learn the borders of high-sec/low-sec in your region. Learn where the worthless newbie zones are. Learn where the pirates hang out. Print out a map (http:// | The next step is to pick a region to focus your activities in. You want a region that has a healthy, active market, with a nice defined market hub. You don't want a ghost-town region, but you also probably don't want the shark-infested waters of Jita. Find something in-between. Profit margins will be higher in quieter regions, but volume will be lower. Experiment to find the sweet spot. Once you pick your region, research it extensively to find out its intricacies. You need to learn where goods enter the market, and where goods are liquidated. This is highly correlated with the location of the large mission hubs in the region. Use the statistics feature of your star map to research this (look at # of pilots currently docked, #of pilots in space, #of pirates killed, etc). You will get a better feel for the inflows and outflows of your region as you begin to trade. Learn the borders of high-sec/low-sec in your region. Learn where the worthless newbie zones are. Learn [[Known_pirate_systems|where the pirates hang out]]. Print out a map (http://evemaps.dotlan.net/) if that helps. Does the layout of jumps lend itself to any natural circuits that visit important systems? Know your region! | ||
=How To Pick Items To Trade= | =How To Pick Items To Trade= | ||
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'''You make your money on your buy orders, not on your sell orders.''' Yes, I realize that sounds odd, but it's true. I find there is more room for cleverness in how you acquire your goods than in how you liquidate them. Most people engaging in market activity are far more likely to sell something at a stupidly low price than they are to buy something at a stupidly high price, so with your buy orders you can really capitalize on this. | '''You make your money on your buy orders, not on your sell orders.''' Yes, I realize that sounds odd, but it's true. I find there is more room for cleverness in how you acquire your goods than in how you liquidate them. Most people engaging in market activity are far more likely to sell something at a stupidly low price than they are to buy something at a stupidly high price, so with your buy orders you can really capitalize on this. | ||
What type of trader do you want to be? Are you willing to move around a few jumps here and there to get some really excellent deals? Some prefer to engage only in station-trading, never leaving the confines of their comfy market hub. I find this approach too limiting, and recommend (especially early in your career) you be willing to travel a bit. | What type of trader do you want to be? Are you willing to move around a few jumps here and there to get some really excellent deals? Some prefer to engage only in station-trading, never leaving the confines of their comfy market hub. I find this approach too limiting, and recommend (especially early in your career) you be willing to travel a bit. | ||
Decide where you want to cast your net, and how wide you want it to be. You want your net to encompass as many mission hubs as possible and as few "junk/filler" systems as possible. Do not include pirate systems within your net unless you really know what you are doing (you can get some great prices, but the risk is quite high). | Decide where you want to cast your net, and how wide you want it to be. You want your net to encompass as many mission hubs as possible and as few "junk/filler" systems as possible. Do not include [[Known_pirate_systems|pirate systems]] within your net unless you really know what you are doing (you can get some great prices, but the risk is quite high). | ||
Personally, I fly two jumps out from the trade hub to place my buy orders and center my net in a good location. Most of my buy orders span 5 jumps. Occasionally I will place a low-ball region-wide order, but only if it would really be worth traveling to the far reaches to pick up. Occasionally I do station-only buys at the hub (typically for certain types of ammo). | Personally, I fly two jumps out from the trade hub to place my buy orders and center my net in a good location. Most of my buy orders span 5 jumps. Occasionally I will place a low-ball region-wide order, but only if it would really be worth traveling to the far reaches to pick up. Occasionally I do station-only buys at the hub (typically for certain types of ammo). | ||
To determine price and range, find the gaps in the market. DO NOT just mindlessly stack on top of the highest buy order at the trade hub. Example scenario: | To determine price and range, find the gaps in the market. DO NOT just mindlessly stack on top of the highest buy order at the trade hub. Example scenario: | ||
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Don't place a buy order for more than half the daily trade volume (the green bars at the bottom of the graph) of an item unless you know what you're doing. | Don't place a buy order for more than half the daily trade volume (the green bars at the bottom of the graph) of an item unless you know what you're doing. | ||
Buy buy buy. Any time you have free money, reinvest it as a low-priced buy order. Don't let money sit idle in your wallet. The exception to this is once you train Margin Trading, you will need to leave a buffer in your wallet to absorb any surprise buys. | Buy buy buy. Any time you have free money, reinvest it as a low-priced buy order. Don't let money sit idle in your wallet. The exception to this is once you train Margin Trading, you will need to leave a buffer in your wallet to absorb any surprise buys. | ||
=How To Collect Your Goods= | =How To Collect Your Goods= | ||
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