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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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