I started playing eve in early December 2012, and am keeping a journal of my daily activities.
Come in and make yourself some popcorn while you read about my silly newbie mistakes and palpitating adventures!

Monday, 14 January 2013

Merchant Bank

Word of the day: concerted: when doing different things at the same time with equal care to all of them to achieve the same end goal, like so many musicians playing a concert together.


I wish you could see my wallet funds in graph form, it'd be quite the roller-coaster these past few days.
I've discovered the joys of wealth through freighting things between systems all over the galaxy, major trade hubs like Amarr, and the one hub to rule them all: Jita.
Buy low, sell high; and use eve-marketdataeve-central or jitonomic. The most important part of trading is the same as in warfare: intelligence. Knowing where and what to buy and where to sell, and those online tools take care of that for you. But beware, the data is incomplete and sometimes out of date, so it's risky business to blindly trust them.

I get mini-heart-attacks when the wallet total doesn't update  immediately
Concertedly, make sure to do like I tell you to do and not what I actually do: train up Broker Relations and Accounting as soon as possible, to lower those pesky market escrow listing fees and sales taxes.
Eventually, also train up Margin Trading to reduce the amount of ISK you have to pay for buy orders, if you're reselling.

Jita is a pretty crazy place when you're used to 3-10 people in local
One problem I encountered while trading is of course greed. If you want to make a lot of money quickly, you may as well buy in bulk to make every percent of profit count. That led me to spend my entire 100 million ISK cash reserves on one purchase several times in a row, carrying it across dangerous space (note: all space is dangerous in EVE) under the space-noses of space-banditos. If you get shot, you're fucked.
If your intel was out of date, and someone already fulfilled the buy order, you're slightly less fucked.

A terrible photoshopping for my terrible idea of the day: have sombreros in the AUR store.
Space-banditos!

I haven't gotten shot and lost my cargo yet, although I have been scanned a few times. What I have done is  carelessly buy 90'000 faction missiles at higher than I should have: 1350/unit instead of 1000, intending  to sell in Jita...only to find that all the buy orders were at 1300. D'OH! Well I still had the goods, which I put on sell order for 1440/unit so it wasn't a complete loss, but my wallet was empty, meaning I couldn't do any more trading in this manner. Thankfully, my new buddy Trioxis whom I met in local while mining heard my plight and bought them all (I heard he made a nice profit setting up his own sell-order for 2000 ISK in less reputable regions).
Not learning from my mistake, I immediately bought 100million worth of implants and sold them in Amarr.

Some day I'll look at more advanced forms of trading but for now I'm quite content hauling the cargo myself in my Belly Beluga II Bestower and making honk-honk noises under my breath when docking.

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