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Partially worked in the changes to taxes, fees, and skills. Trading Math section still needs to be updated. |
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'''Trading''' is the act of buying and selling items within Eve. | '''Trading''' is the act of buying and selling items within Eve. | ||
== Introduction | ==Introduction== | ||
There are many recordings of Uni trading classes available on the forums. A few examples are listed below: | There are many recordings of Uni trading classes available on the forums. A few examples are listed below: | ||
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*[http://ds180.net/eve-uni/Sun%20Win%20-%20Trading%20101.mp3 Sun Win] (Buy and Sell orders. Creating a Trade Alt. Buying Low, selling high. Trade via hauling. Details of the Market system, Market analysis. Recommended Skills.) | *[http://ds180.net/eve-uni/Sun%20Win%20-%20Trading%20101.mp3 Sun Win] (Buy and Sell orders. Creating a Trade Alt. Buying Low, selling high. Trade via hauling. Details of the Market system, Market analysis. Recommended Skills.) | ||
=== Advantages of trading | ===Advantages of trading=== | ||
*Easy to get started: You can start trading right away on a character with no skills, and the amount of skill training needed compared to other professions is fairly low. The only skill you really need to start with is Trade, without which you'll probably feel a little limited in the number of orders you can have open. | *Easy to get started: You can start trading right away on a character with no skills, and the amount of skill training needed compared to other professions is fairly low. The only skill you really need to start with is Trade, without which you'll probably feel a little limited in the number of orders you can have open. | ||
*Easy to do during war: With a small investment in skills (Marketing, Procurement and Daytrading to level 2) you can easily station trade in one system while docked up in another, or use an alt to trade in other ways. | *Easy to do during war: With a small investment in skills (Marketing, Procurement and Daytrading to level 2) you can easily station trade in one system while docked up in another, or use an alt to trade in other ways. | ||
*Time-flexible: A lot of trading happens while docked up, and it's easy to go AFK with no real danger most of the time. While this isn't true during hauling, good hauls tend to be fairly short and you can always dock up halfway through. | *Time-flexible: A lot of trading happens while docked up, and it's easy to go AFK with no real danger most of the time. While this isn't true during hauling, good hauls tend to be fairly short and you can always dock up halfway through. | ||
== Trade Interfaces | ==Trade Interfaces== | ||
=== The Trade Window | ===The Trade Window=== | ||
Possibly the simplest and least-used form of trading, the trade window requires you to be docked up with someone in the same station. It's mostly used to deliver items personally to a friend. The trade window is less useful in general since mass trading is not possible and scamming is common. | Possibly the simplest and least-used form of trading, the trade window requires you to be docked up with someone in the same station. It's mostly used to deliver items personally to a friend. The trade window is less useful in general since mass trading is not possible and scamming is common. | ||
=== Contracts | === Contracts=== | ||
A [[contract]] is a public, formal agreement for work or goods, available through the contracts button on the [[NeoCom|NeoCom]]. Like the trade window, mass trading is hard and scamming is common. However, contracts have a couple of advantages. They can contain goods not normally available on the market, and finding an audience for your trading is much easier than through the trade window. | A [[contract]] is a public, formal agreement for work or goods, available through the contracts button on the [[NeoCom|NeoCom]]. Like the trade window, mass trading is hard and scamming is common. However, contracts have a couple of advantages. They can contain goods not normally available on the market, and finding an audience for your trading is much easier than through the trade window. | ||
Alternatively, courier contracts can also add extra profit to hauling routes. | Alternatively, courier contracts can also add extra profit to hauling routes. | ||
=== The Market | === The Market=== | ||
This is where most trading in Eve takes place. The market is essentially an automated list of item exchange contracts: buy orders and sell orders. Since orders can be partially filled and searched easily, it tends to be a lot more convenient than trading through contracts, although the basic principle is the same. Another advantage of the market is that it's easy to see the price and quantity that items are actually selling for, using the market details tab. Markets are limited to the specific region they are in. | This is where most trading in Eve takes place. The market is essentially an automated list of item exchange contracts: buy orders and sell orders. Since orders can be partially filled and searched easily, it tends to be a lot more convenient than trading through contracts, although the basic principle is the same. Another advantage of the market is that it's easy to see the price and quantity that items are actually selling for, using the market details tab. Markets are limited to the specific region they are in. | ||
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*{{sk|Tycoon|mult=yes|price=yes}} – grants 32 additional orders per level. | *{{sk|Tycoon|mult=yes|price=yes}} – grants 32 additional orders per level. | ||
With all these skills trained to level 5 character can manage up to 305 orders. | With all these skills trained to level 5 character can manage up to 305 orders. | ||
===Remote Skills=== | ===Remote Skills=== | ||
The info for these skills can be misleading. Sadly, these skills do not magically move goods around. For example, Procurement will not allow you to buy goods in a distant system and have them appear in your current station's hangar. What these skills do is allow you to buy and sell goods that are not in your current station/system. If you are a station trader, for example, you hang out somewhere else from your goods; this increases safety, because trade hubs tend to attract PvP action. Similarly, you can deliver your salvage to a trade hub then go back to missioning where the missions are, while still managing the sale of your salvage. | The info for these skills can be misleading. Sadly, these skills do not magically move goods around. For example, Procurement will not allow you to buy goods in a distant system and have them appear in your current station's hangar. What these skills do is allow you to buy and sell goods that are not in your current station/system. If you are a station trader, for example, you hang out somewhere else from your goods; this increases safety, because trade hubs tend to attract PvP action. Similarly, you can deliver your salvage to a trade hub then go back to missioning where the missions are, while still managing the sale of your salvage. | ||
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===Overhead Reduction skills=== | ===Overhead Reduction skills=== | ||
*{{sk|Accounting|mult=yes|price=yes}} - reduces the transaction tax rate by | *{{sk|Accounting|mult=yes|price=yes}} - reduces the transaction tax rate by 11% per level from 5% to 2.25% at level 5. | ||
*{{sk|Broker Relations|mult=yes|price=yes}} – reduces the broker fee collected on market orders in NPC stations by subtracting a flat 0. | *{{sk|Broker Relations|mult=yes|price=yes}} – reduces the broker fee collected on market orders in NPC stations by subtracting a flat 0.3% per level from 5% to 3.5% at level 5. This fee can also be affected by standings between the trader and the corporation that owns the station. | ||
*{{sk|Margin Trading|mult=yes|price=yes}} – decreases amount of ISK you have to place in buy orders for 25% per level. The remainder will be drawn from character’s wallet when someone actually sells you goods. Escrowed values are: | *{{sk|Margin Trading|mult=yes|price=yes}} – decreases amount of ISK you have to place in buy orders for 25% per level. The remainder will be drawn from character’s wallet when someone actually sells you goods. Escrowed values are: | ||
**level 0: 100% – The full ISK amount is removed from your wallet when the buy order is set up | **level 0: 100% – The full ISK amount is removed from your wallet when the buy order is set up | ||
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*{{sk|Corporation Contracting|mult=yes|price=yes}} – increases the number of concurrent corporation/alliance contracts you can make on behalf of your corporation by 10 per level up to 60 at level 5. | *{{sk|Corporation Contracting|mult=yes|price=yes}} – increases the number of concurrent corporation/alliance contracts you can make on behalf of your corporation by 10 per level up to 60 at level 5. | ||
== Trading using the Market | == Trading using the Market== | ||
The main method of trading is doing what other players can't be bothered to do: either they're too lazy or the opportunity cost is too big. Most market activity occurs in and around [[Trade Hubs]]. | The main method of trading is doing what other players can't be bothered to do: either they're too lazy or the opportunity cost is too big. Most market activity occurs in and around [[Trade Hubs]]. | ||
=== Hauling | === Hauling=== | ||
Hauling is the act of transporting goods between stations for profit. Basically, you buy some goods at one station, load them up into your hauling ship, carry them off to another station and sell them for profit. This works because most players don't have the ships or the time to move everything themselves. Interestingly, there are a lot of trade goods that exist only to be hauled between NPC stations. Finding good trade routes is hard (and changes on a daily basis), so most players use an external tool such as [[Using EVE-Central to haul profitably|Eve-Central]] or [http://code.google.com/p/navbot/ Navbot]. However, there are usually certain routes that are profitable in general, such as hauling stuff from mission hubs, where mission runners dump their loots, to trading hubs where there is less supply. | Hauling is the act of transporting goods between stations for profit. Basically, you buy some goods at one station, load them up into your hauling ship, carry them off to another station and sell them for profit. This works because most players don't have the ships or the time to move everything themselves. Interestingly, there are a lot of trade goods that exist only to be hauled between NPC stations. Finding good trade routes is hard (and changes on a daily basis), so most players use an external tool such as [[Using EVE-Central to haul profitably|Eve-Central]] or [http://code.google.com/p/navbot/ Navbot]. However, there are usually certain routes that are profitable in general, such as hauling stuff from mission hubs, where mission runners dump their loots, to trading hubs where there is less supply. | ||
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*[[Known pirate systems]] - Avoid these. | *[[Known pirate systems]] - Avoid these. | ||
=== Station Trading | ===Station Trading=== | ||
Station trading is like hauling, but without the hauling ship! Instead of buying low and then taking the goods to where you can sell high, you buy low and sell high ''without'' moving the goods. | Station trading is like hauling, but without the hauling ship! Instead of buying low and then taking the goods to where you can sell high, you buy low and sell high ''without'' moving the goods. | ||
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Of course, sometimes the market for a particular item is simply unrealistic, or maybe you need your trades to go through quickly for some reason - a radical price change might be called for, but a good trader will have identifiable reasons for making such a change, rather than it just being an emotional "''I'll show you!''" response to being 0.01-isked. | Of course, sometimes the market for a particular item is simply unrealistic, or maybe you need your trades to go through quickly for some reason - a radical price change might be called for, but a good trader will have identifiable reasons for making such a change, rather than it just being an emotional "''I'll show you!''" response to being 0.01-isked. | ||
***There is a real danger during the modification of your market orders that you may accidentally enter the wrong amount or potentially forget a decimal point resulting in a significant loss of ISK. To mitigate this risk, observe the net change in your order before confirming it. | ***There is a real danger during the modification of your market orders that you may accidentally enter the wrong amount or potentially forget a decimal point resulting in a significant loss of ISK. To mitigate this risk, observe the net change in your order before confirming it. You can also change the order amount using the up/down key to quickly add/subtract a few 0.01 ISK at a time. | ||
=== Finding items that are good to trade === | ===Finding items that are good to trade=== | ||
There is an incredibly simple 3-step plan for finding good trading items: | There is an incredibly simple 3-step plan for finding good trading items: | ||
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<br> | <br> | ||
=== Trading Math | ===Trading Math=== | ||
{{Update|Needs update due to the tex, fees, and skill changes in summer 2019.}} | |||
Like almost all of Eve there is math. Fortunately most of the math in trading is basic math and/or the game does the math for you. If you want to find out how much you will be paying or selling an item please use the following equation. | Like almost all of Eve there is math. Fortunately most of the math in trading is basic math and/or the game does the math for you. If you want to find out how much you will be paying or selling an item please use the following equation. | ||
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<br> | <br> | ||
=== Trend lines === | ===Trend lines=== | ||
Trend lines are used in the real world to help self brokers and stock brokers find out future events in the stock market, or more commonly known as a technical analysis. To use a trend line all you need to do is find a way to draw a line from peak to peak and trough to trough in the line graph on price history on an item. You will want to draw a line that hits at least 2 to 3 peaks and another that hits 2 to 3 troughs. This will tell you that the price should fall between the 2 lines and if the prices hits one of the lines or go a little past it then its time to buy or sell the item in Eve. The trick to this in both Eve and the real world is to do this and know what you're doing as fast and right as possible. | Trend lines are used in the real world to help self brokers and stock brokers find out future events in the stock market, or more commonly known as a technical analysis. To use a trend line all you need to do is find a way to draw a line from peak to peak and trough to trough in the line graph on price history on an item. You will want to draw a line that hits at least 2 to 3 peaks and another that hits 2 to 3 troughs. This will tell you that the price should fall between the 2 lines and if the prices hits one of the lines or go a little past it then its time to buy or sell the item in Eve. The trick to this in both Eve and the real world is to do this and know what you're doing as fast and right as possible. | ||
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=== Scams to avoid | ===Scams to avoid=== | ||
*Trade routes or courier contracts might be set up by pirates - a camp could be waiting on one of the jumps on the route to collect your ship, their goods and the collateral. | *Trade routes or courier contracts might be set up by pirates - a camp could be waiting on one of the jumps on the route to collect your ship, their goods and the collateral. | ||
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A good way to avoid courier contract scams is to only accept contracts for routes you were planning on hauling anyway, and to not accept contracts to player owned stations. | A good way to avoid courier contract scams is to only accept contracts for routes you were planning on hauling anyway, and to not accept contracts to player owned stations. | ||
=== Trading Cost Modifiers | ===Trading Cost Modifiers=== | ||
*{{sk|Broker Relations}} [Req: Trade 2] reduce base broker fee by 0. | *{{sk|Broker Relations}} [Req: Trade 2] reduce base broker fee by 0.3% per level | ||
*{{sk|Accounting}} [Req: Trade 4]: reduces sales tax by | *{{sk|Accounting}} [Req: Trade 4]: reduces sales tax by 11% per level | ||
*{{sk|Margin Trading}} [Req: Accounting 4]: reduces escrow requirement for buy orders by an additional 25% per level | *{{sk|Margin Trading}} [Req: Accounting 4]: reduces escrow requirement for buy orders by an additional 25% per level | ||
Whenever you set up a buy or sell order, you will have to pay the broker fee: | Whenever you set up a buy or sell order, you will have to pay the broker fee: 5% of the total order (3.5% at {{sk|Broker Relations}} level five), modified by standings. Whenever each unit gets sold, the seller will pay 5% of the sell price as a [[Tax#Sales_tax|sales tax]] (2.25% at max skills). The fees show up in the wallet journal as "Brokers Fee" and "Transaction Tax". | ||
Thus, a station trader with zero standings will pay between 5% (at max skills) and 10% of the order price as fees/taxes. This is important to take into account when calculating your profit, but of course the standings below can change that further. | |||
==== Standings | ====Standings==== | ||
[[Faction Standings|Faction and corporation standings]] relevant to the station the orders are placed in will have an effect on the broker fee. Faction standings contribute 1/3 more than corp standings. Note that the ''unmodified'' standing is used for the calculation. The exact formula is: | [[Faction Standings|Faction and corporation standings]] relevant to the station the orders are placed in will have an effect on the broker fee. Faction standings contribute 1/3 more than corp standings. Note that the ''unmodified'' standing is used for the calculation. The exact formula is: | ||
:''BrokerFee % = | :''BrokerFee % = 5%-(0.3%*BrokerRelationsLevel)-(0.03%*FactionStanding)-(0.02%*CorpStanding)'' | ||
With no skills or standing the broker fee is 5%. With 10 faction and corp standing, the broker fee is reduced to 4.5%. With broker relations V and perfect standing the fee is further reduced to 3%. | |||
{{expansion past| | |||
[https://www.eveonline.com/article/ptgdti/patch-notes-for-june-2019-release 2019-08-01]: | |||
Market sales taxes and broker fees have changed: | |||
*Maximum Sales Tax increased from 2% to 5% | |||
*Maximum Brokers Fee increase for NPC stations from 3% to 5% | |||
Tax associated skills have been changed: | |||
*Accounting – Increase in reduction of sales tax from 10% per level to 11% per level | |||
*Brokers Relations – Increase in reduction of costs associated with setting up a market order from 0.1% per level to 0.3% per level | |||
See also https://www.eveonline.com/article/pvewgz/updates-to-sales-taxes-and-brokers-fees | |||
}} | |||
==External links== | |||
*[https://www.eveonline.com/article/pvewgz/updates-to-sales-taxes-and-brokers-fees DevBlog announcing changes to taxes, fees, and skills.] | |||
[[Category:Trade]] | [[Category:Trade]] | ||