This is how many trading accounts you need to succeed…

Posted by on Jul 16, 2013 | 0 comments

This is how many trading accounts you need to succeed…

  Firstly, let’s clarify a few definitions of success. Success will be a moving target as every trader is on a different segment of their journey to reaching their final objective, whatever that may be for them.  Additionally there are multiple trading methodologies and all traders will have their own that they’re strongest in and have an affinity towards, which will ultimately influence their own definition of success. So with all of this in mind I’ll provide a few definitions that resonate with me and my methods, and also incorporate various stages of trading skill:   Making small but consistent trading income; Being able to indefinitely PLEX your account using isk; Being able to buy virtually any in-game available on the market or in contracts;     Making small but consistent income Accounts Required : 1 Once you understand the basics of trading, profits aren’t hard to come by.  (If you feel that you don’t have the basics mastered yet then you’re at exactly the right website and feel free to have a look around.) At this stage of your Eve trading career you’re most likely fairly fresh to the game, or new to trading at the very least, and a few of the isk-pennies are just starting to drop. There’s no magic trick or secret tactic to trading, despite it often seeming that way to many a noob when they start out. At its most basic you simply need to purchase the right products at the right prices and know where there’s sufficient demand to offload those products with a suitable profit margin.  And that definitely doesn’t require two accounts. For me personally I was about a year into my Eve gaming before I started a second account to assist with trading, and at the time I was turning over hundreds of million a month in items and revenue just on my original account – and this works for a host of different trading methodologies.   Getting started is really about knowledge, not how many characters you have spread all over the universe.   Indefinitely PLEX’ing Your Account Accounts Required : 1 At the time of writing a PLEX (for a month of game time) sells for roughly 530 million isk.  If we break  that down into a daily amount, assuming 30 days in a month, then we have a PLEX cost of a little under 18 million isk a day you’d need to generate from trading. Granted you won’t do that with a brand new character… or will you…? Earlier today I had a buy order at a market hub filled for an Arazu which cost me 127 million isk (and change). Four hours later I sold it at the same hub for 149 million.  After transaction costs I’m still above the 18 million I need each day to PLEX my account.  For the noobs out there this little...

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Who, What, When, Where & Why

Posted by on Jul 3, 2013 | 0 comments

Who, What, When, Where & Why

  “3,999,999 isk buy price… what the hell…”  * JUMP * “It’s gotta be a bug…”  * reapproach Tash-Murkon Prime gate * * set 1000 meter orbit * * open market window to check Domain region prices * * select Limited Neural Boost – Beta *   “Holy shit, 2,599,000 SELL price in Amarr!   …and there’s SIX of them!”   And so it started in 2008… A chance aberration of prices between regions picked up when shopping around for the best deal on +2 implants, and I was instantly hooked on trading. And in that moment Eve Online ceased to be about blowing up other internet spaceships and all about making isk through no other method than trading items on what is, without a doubt, the single best market economy in any online game ever. Period.   Winter Change Is Coming It would stay that way for some years. Sure there were momentary deviations into other isk making endeavours such as ratting & missions, manufacturing, PI, and so forth, and as my wealth grew I even started getting into PvP and nullsec life with various characters along the way. But by far and away the vast majority of my time was spent looking for ways to make the most money I could through trading. It started slow. I had no one to emulate or field questions to. There were no guides or tutorials of any worth, much less any structured and comprehensive video packages available to guide the noob or moderately skilled Eve player. I didn’t have massive wealth from any other endeavour as I was still a total noob myself. But over the months and years it all started to gel.  Where the buyers are… What to sell to them… How to get the items at the lowest price… How to safely get the goods from point A to point B without getting popped. But perhaps the most important thing was that I saw that it was actually possible and that gave me the confidence and commitment to continue on, to try new things without the fear of losing here and there, to keep expanding my account value and overall wealth into numbers I just didn’t think were possible in the early days. For all you trading noobs, the belief and understanding that you can do it is key and critical. Time went by and eventually I found that I could easily afford virtually any in-game item I wanted. I had so much isk that I just didn’t feel the same need to experiment with trading tactics, to have multiple trading characters spread all over Eve, to juggle multiple thousands of market orders. By my book I’d won Eve, and if I was going to keep my accounts active I needed a new challenge.   From The Wilderness To Your Monitor It’s not really all that surprising,...

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