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Question: good trading tips?

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pieske86

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I'm trying to get some peds by trading, but not working. They say uber traders are getting peds, when are you called uber trader?

What are the best tips?

What to buy?
Large or small ammounts?
Where to buy at auction or avatars?

You can always pm me if you want this info not public.

Thanx
 
Rule number 1 . Every Ped lost to the auction fee is a lost ped
 
rule 2 : if you can't see profit you wont find it
 
Rule number 3 , Make friends, both as sellers and buyers
 
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Buy low, sell high. But not too low or too high.
 
Market values are constantly changing. As a trader, your goal is to "flip your shit" asap, to ensure that you bought & sold it before the % changed on you and you got screwed. With this, buy items with high daily sales (the right hand column next to the market value). For example, you will see things like muscle oil, iron ingot, metal residue, etc have daily sales in the 10's of thousands of ped...this means crafters eat them up off auction, so if you place them at near market value, you have a good chance to sell them (use auction). On the other hand, things like uhhh...valurite ingot, tier 5 components, and whatever other random whatever, you see have lowww daily sales, like in the tens or hundreds ped...hence saying the demand isn't large and will generally take longer to sell.

On this rule, you can always stand in Twins and see what other upcoming traders are buying (the people buying a select few things) and get an idea...odds are (if they don't want to fail lol) they will be buying that stuff with high sales.
 
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Some great advice here. My advice is to record everything as you're starting out and find items/resources to trade that are appropriate for the amount of peds you have available. You may be surprised how much auction fees and other expenses can eat up your profit, especially if you're starting small. Also, just as in real-life business, you either find a market that is not maxed out with traders yet or you find a full market but beat the competition in some way.
 
Wody said:
Buy low, sell high. But not too low or too high.
Click to expand...
That's old school. The new school of thought and only rule you need to know is: SELL HIGH, BUY LOW! :wise:
 
As a trader, be ready to take some shit every now and then. The general attitude towards traders are negative as people often see them as a reason to why prices become jacked. Just sayin'
 
Focus on few ores/enmat or oils, common&sellable stuff like that, as ur bankroll grows the variety of stuff u buy grows.

Maybe most important is a big bankroll, 5-10k PED is a very nice start, I traded for some months (around 2 years ago), started with 200 PED and got to I think 3500 before I stopped it.

Had countless moments were someone offered me loot worth 1000 PED and way more but I just couldn´t afford it.

Anyway it´s doable no matter what amount of money u have, but the trader-competiton is very strong and it´s a lil bit boring sometimes.

GL :)


Definiton of uber-trader for me:

Someone with a huge bankroll - he can buy almost any amount, fair price, knowledge about auction and markup, some connections to crafters, miner, u get the point.
 
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From being an Experienced trader PA was once a nice place to start for new comers. I have taken break from Entropia planning to come back. Twins is congested with Traders. As a seller one mus go to PA and find traders there offering irresistible deals.
 
- Don't get high on your own supply

- Never underestimate the other guy's greed
 
pieske86 said:
I'm trying to get some peds by trading, but not working. They say uber traders are getting peds, when are you called uber trader?

What are the best tips?

What to buy?
Large or small ammounts?
Where to buy at auction or avatars?

You can always pm me if you want this info not public.

Thanx
Click to expand...

once it gets know by other players its not profitable anymore :) so telling in this case you about tips is like paying out of my own pocket..
the best tip i can give you is to sit and look over the auction with whats in demand like what sells good each day etc .. how dose the Mu compare now til how it was under the rest of the year... fluctoations(damn spelling:p) happens all the time.
you need to put in the time yourself and help yourself.. no good trader will tell you what to buy when or whats to sell when..

well thats my 2pecs :D GL
oh well now i saw what Klown wrote ^^
 
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Egrim said:
once it gets know by other players its not profitable anymore :) so telling in this case you about tips is like paying out of my own pocket..
the best tip i can give you is to sit and look over the auction with whats in demand like what sells good each day etc .. how dose the Mu compare now til how it was under the rest of the year... fluctoations(damn spelling:p) happens all the time.
you need to put in the time yourself and help yourself.. no good trader will tell you what to buy when or whats to sell when..

well thats my 2pecs :D GL
oh well now i saw what Klown wrote ^^
Click to expand...

Lol :p
No worries man, few attempt to become a trader, even fewer stick with it. It is really incredibly boring to most and feels like more work than what they probably do for income at their job irl :p. If he succeeds, good for him, 1 more competition ain't bad. If he doesn't succeed, I still get credit for being a helpful guy :) lol.
Also, could turn into a case of making my business look better. Most of us traders with the best prices use the same way to determine our prices. If he joins in, ah well, 1 more competition like I said above, if he wants to make more money faster or whatever, then his lower %s just make me look even better :p lol.

Oh and for the record (for op), if you do become a trader, don't be a complete liar like the rest of those scrubs and put "best prices" or whatever at the end of your spam...everyone knows you will be a bullshitter like the rest lol.
 
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Schoolhouse Rock rocks!!!
 
@ Uvas

Too bad you can't sell short in EU!
:D









Tippin'
 
TACUTTING said:
Rule number 3 , Make friends, both as sellers and buyers
Click to expand...

AxeMurderer said:
Don't drink and trade :wise:
Click to expand...

These are my two most important rules.
1st is to create a network that will be beneficial to both sides (if you are a fair trader and not try for the "get rich quick" attitude [greed]), 2nd is because, well...Let's just say I've had "clouded" judgement. :D









Tippin'
 
I didnt really mean to make fun out of this toppic, but to point out in those fictive code of behaviour there are many usefull tips how a trader should think.

What you should consider is:

1. How big is your bankroll?

2. How fast can you generate turnover in your trading activity

3. How much competition do you have on the market.

4. Is your service / field of trade necessary to the comunity, where and to what extent.

5. If you dont have direct takeovers (buyer) you need to calculate the auction fee.

6. Going ways in trades noone went before is risky, but might yeald profit (check my signature, I was doing it since 2006 with great succes, and have been first in the field)

7. Take care of your customers, have in mind that if you cut your clients once, you will profit one time more than usual on one deal, but if you try to work for their and your benefit with fair prices, you will have this person coming over and over to you. The more the marrier, a healthy client base is everything.

Addition, a small bankroll i. E. 500 PED, with fast turnover, can generate the same profit as a large bankroll with slow turnover.

For advanced trades: At one spot your bankroll will be to big to effectively buy/sell with it in a daily rhytm, go for diversification, add another layer to your bussines, work with higher markup stuff or services in order to generate as much turnover as possible in the shortes amount of time.


This would be what I could advice, if anything else popps up in my mind Ill add it to this :)

Hope this will help not only you but other ppl who would like to get into trades.
 
pieske86 said:
What to buy?
Large or small ammounts?
Where to buy at auction or avatars?
Click to expand...

I think ultimately these are questions you need to be able to answer yourself. The market is constantly changing, what works today may not work in a few months time.

If you're a new avatar, I'd suggest playing the three main professions of the game itself as well as trading. That'll give you an understanding of what drives the market.
 
Great Tips for Real life trading and ingame.
 
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