Monday, November 22, 2010

Setting up - The Trader - part 2

Whoa!... 12 millions ISK, 26 millions, 11 millions... ??? "And where are you going to find that much cash?" I hear you asking.
Well.. This is going to be an expert Trader character so you better start learning about Trading.
Let's start with this Basic Trading Guide from Tentonhammer.



There are several types of Trading in EVE Online.

1- There is the in-station Trading - often referred to as the 0.1 ISK game - because you constantly adjust the prices by 0.1 ISK to beat your competitor prices.
This game consists in Purchasing at a low price and in large quantity of an item and then resell them at a profit. Sale orders are placed using the advance button in the Market window. You usually set a buying price higher than the other traders, set the duration for 3 months, pay the deposit and wait... Check the prices often and adjust (by 0.1 ISK) if needed to beat the competition.
The advantage of this method is that it doesn't even require a ship to fly so there is no risk of being ambushed by Pirates.
The disadvantage is that it requires a large amount of cash to get started and a good understanding of the market but it works almost the same as Share Trading in real life.

2- The other method of trading is more opportunistic and consist in finding the cheapest price for an given item, travelling to that system to purchase it and then transport the cargo to another system to resell for a much higher price.
The advantage of this method is that it is less boring than staying in a station all the time. But of course it is less safe and you can run into a bunch of pirates just waiting for this kind of transporters. 
The main disadvantage is that you are limited by the amount of cargo your ship can carry as well as your investment capital.
This method can be used for trading within a system, between two system in the same region or even between regions.

3- There is also a way to buy and sell using Contracts but great care is required due to the amount of scams possible with these contracts. Read this Tale of a scam gone wrong to understand how difficult it is to get good contracts.

The Tools of Trade:
Apart from the EVEMon utility that you should have already acquired when starting your first account there are several useful applications to use for Trading.




Eve-Central Market Aggregator and Trade Finder.
I suggest that you download their Contribtastic Upload Utility. This small program sits in the background and scan your market cache to upload the most up-to-date prices to the database. Fresh price lists is a must have for Trading.
The Eve-Central Trade finder can be opened in you IGB (in game browser) and you can then select a system or region to trade to and from. It then scans the website database for the most profitable trades given your parameters. Only as reliable as the freshness of the data so you still need to check the prices manually. But it should give you a good idea to start from.

The Navbot utility is another Trading Tool that you can use.
This one is based on your personal prices checks. And you need to save/export each market display for the items you want to trade. Of course you have to know which item will be good to trade in the first place.
You should keep a list of those items that you needed to purchase yourself while doing the tutorials as well as those items you collected. Most new players will buy and sell those exactly same items. A good place to start.
Other items to look at for trading are the ammunitions used by your Race. Everybody needs ammo. You can also look at the Trading Goods and Industrial Goods in the Market Browser. (HINT: check Holoreels, Electronic Equipment and Tobacco)

EVE Trader is a handy little utility that shows all your trading activity with nice report screens.


Now see the Setting up Trader part 3.
If you just arrived to this Blog, start reading from there.

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