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Saturday, 19 October 2013

My current income sources

When I started out in making ISK in Eve I focused on Regional Hauling, and that remains the dominant strategy today.

I am starting to diversify into Station Trading and Manufacturing.

For non-Eve players - "station trading" is when you buy and sell items in the same station, acting as a market maker.  In effect, making a return from the spread.

When I look at wealth I don't count assets I use in the course of my business such as ships, fittings etc nor do I add back any expenses such as skills purchased etc.  The wealth I disclose is made up of items that are ISK or are in the process of being converted to ISK.

At the moment, I merely look at how my wealth is distributed between ISK in my wallet, Items in Transit, Items that are in my hangers but will be sold, Items in Production, Buy orders (I.e part of Station Trading), Sell orders (Regional Hauling and Station Trading together) and of course my 20% provision against all sell orders*

The chart below shows how this has trended since I started back in May.

Going forwards I may try and split out the manufacturing sell orders from the trading sell orders to give an idea of what is generating my income - but the numbers are not yet big enough to be meaningful.

I may also try and estimate how much income came from each of my business strategies which are currently Regional Hauling, Station Trading and Manufacturing . . . . . but I suspect that will not be possible.

For me, the main purpose of this chart at the moment is to show the annoyingly high amount of ISK in wallet that I have which is sitting there earning no return!  Also, I can now see a slither of items as Buy Orders (one part of station trading) and items in Production (i.e. manufacturing).

 
 
* I take a 20% provision against the items I am selling.  Eve calculates wealth by adding up the value of the sell orders hence it is possible to increase your wealth by buying an item for 100m ISK and putting a sell order for 120m ISK (in this case your wealth would increase by 20m ISK).  For me, I want my wealth to be calculated at cost until i finally hold it as ISK.  I know that the value of my sell orders will likely fall over time as I update my orders downwards as competition reduces their prices before my items are sold.  Hence the 20% provision is my best guess as to what cost is or at least the maximum reduction I would need to make to my sell orders as a whole before they are sold.

2 comments:

  1. With your regional trading, you have been buying Jita Sell orders all this time? And then are just starting to use Buy orders for station trading?

    Thanks, love the blog!

    ReplyDelete
    Replies
    1. That is correct - in Jita i only buy from Sell Orders.

      I tried station trading but eventually gave up on that for now.

      Delete

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